The executive director of the Arkansas Symphony Orchestra said she’s looking forward to moving into new offices inside the renovated M.M. Cohn Co. building downtown, even as the building’s owner prepares to sell the property.
Reed Realty Advisors of Portland, Oregon, said Thursday that it is selling the M.M. Cohn Co. building at 510 S. Main St. and the Hall and Davidson buildings at 215 W. Capitol.
Reed has listed the M.M. Cohn building for $3.8 million, the Hall Building for $2.3 million and the Davidson Building for $895,000. Flake & Kelley Commercial of Little Rock is handing the sale.
Reed Realty developer Scott Reed was traveling Friday and did not return phone calls by deadline.
Built in 1941, the M.M. Cohn building served as the headquarters for the department store chain, now defunct. Reed Realty announced in 2012 that it would begin renovating the building for mixed use, and in January 2013, the Arkansas Symphony Orchestra reached an agreement to move its administrative offices into space on its first floor.
The ASO said it would take up 12,250 SF, which included space in the neighboring Arkansas Building. The space is twice as big as the 6,000 SF the symphony now occupies at St. John Catholic Center on the campus of the Catholic Diocese at 2417 N. Tyler St. in Little Rock.
On Friday, Christina Littlejohn, the symphony’s executive director, said the sale wouldn’t affect the ASO’s plans to move.
“Our understanding is that any sale of the Cohn building would be subject to our lease,” she said. “We are looking forward to the new space whoever the owner might be.”
Reed and partners Wooten Epes and Brian Corbell spent $1.5 million in 2012 to buy the 62,688-SF M.M. Cohn Building and three neighboring properties from Lafayette Plaza LLC, led by Stephen Marks Sr. Reed and his partners purchased the buildings through their LLC, Main Street Lofts. Reed was redeveloping the property for residential, retail and office use.
Two years later, Capitol Lofts, another LLC led by Reed, bought the Hall-Davidson property for $850,000 from Robert Davidson. The building consists of a five-story 41,672-main building and an adjoining three-story 19,752-SF annex. Reed redeveloped the property for 56 apartments and office and retail use.