Category: Commercial News

SBA to Provide Economic Injury Disaster Loans for Coronavirus Related Economic Disruptions

Small Business Administration

SBA released a summary providing valuable information regarding basic filing requirements, eligibility information, and lender deferral information for small businesses and financial institutions suffering economic disruptions related to the Coronavirus outbreak. Applicants may apply directly to SBA’s Disaster Assistance Program. Free assistance also is available from any SBA partner. To find the office nearest you, visit: https://www.sba.gov/local-assistance

More information concerning SBA and its programs.

COVID-19: PUBLIC POLICY UPDATE from ICSC

ICSC, International Council of Shopping Centers, released a webinar yesterday summarizing Public Policy in response to Covid-19. The Coronavirus Aid, Relief, and Economic Security (CARES) Act aims to boost the economy with over $2 trillion in relief to individuals and small businesses with increased unemployment benefits and tax breaks.

The Senate passed the CARES Act, and the House is set to consider the stimulus bill on Friday. It is then up to the President to sign the bill into law.

ICSC is a 70,000-member network whose mission is to ensure the retail real estate industry is broadly recognized for the integral role it plays in the social, civic and economic vibrancy of communities across the globe. Currently, ICSC is actively monitoring the coronavirus outbreak on behalf of the retail real estate industry and its members. More information regarding updates and resources are available on the ICSC website.

Preview: AC Hotel Little Rock Downtown

AC Hotel Preview

As members of the Downtown Little Rock Partnership, we were invited to a sneak peek of the AC Hotel Little Rock. The concept for AC Hotels originated in Spain by Antonio Catalán. Director of sales, Kerry Thompson, walked us through the $25-million transformation of the Hall-Davidson buildings and explained how every AC Hotel strives to encourage all of their guests to mingle with the locals and get to know the community they are visiting. To facilitate this kind of socializing, the hotel will open its doors to both guests and locals each evening to convene in the large, open lounge area where small plates and beverages, including a variety of Spanish wines, will be served. Breakfast will be available each morning, served European-style and will include options like freshly sliced prosciutto, Manchego cheese, and made-to-order open-faced toasts. There is a sound-proof meeting space available that can accommodate 10 – 15 people, complete with smart TV for presentations or video conferencing.

AC Hotel Little Rock

$25-million renovation of Hall-Davidson buildings preserves historic details

Throughout the tour, she pointed to the historic features of the building that were meticulously preserved during the construction of the hotel. Some of these features include original marble walls, antique tiling, crown molding, the original Hall Building directory, and even a U.S. Mail chute, which is very rare to see these days. Guest rooms have been beautifully, yet minimally designed with the goal of creating a space that offers the utmost comfort, functionality, and charm, while also providing every space with the best view of the city as possible. This design of integrating the old with the new perfectly mirrors their concept of bringing locals and visitors together in a shared space, and in doing so, the AC Hotel has created something new to the city of Little Rock, but familiar to those who call it home.

HMS Manufacturing Co. announces production and distribution facility at the port

Gov. Asa Hutchinson

The Arkansas Democrat-Gazette reported that Gov. Asa Hutchinson announced Wednesday HMS Manufacturing Co. will open its fourth manufacturing and warehouse facility in Little Rock. Co-owners, Janet Sofy and Nancy Negohosian, were in Little Rock for the announcement. This operation will create up to 90 new jobs in Little Rock. Nick Kelley and Gary Smith of Flake & Kelley were in attendance. 

“We’re excited to see the increase in activity in the port and the creation of new jobs,” said Nick Kelley, executive vice president and partner.

Frito-Lay occupied a brand new $2.5 million warehouse facility in 2018 and in August of this year Smith closed on the sale of 35,600 SF at 4301 Mauney Rd. in the port. Currently he has an office building at 7773 Sloane Dr. listed  for sale.

“The Little Rock Port Authority does a great job promoting the port and bringing new business to Little Rock,” said Gary Smith, director of business development at Flake & Kelley.

Kim’s Alterations Opens at Mississippi and Cantrell

Kim Lien Trinh of Kim's Alterations

Nick Kelley helped small business owner, Kim Lien Trinh, find the perfect space and location for her new venture. Kim’s Alterations opened at 2002 N. Mississippi, next door to Max Cleaners just off Cantrell Rd. Trinh gave the 1,200 SF space a clean, fresh, modern makeover inside and out before opening on Sept. 3.

“I love the location and the visibility from Cantrell,” said Trinh.

Kim Lien Trinh - Kims Alterations

Trinh in her workspace

Upon entering the shop, customers are greeted by an inviting seating area in neutral greys and browns. To the left of the entry is a curved, slatted wall enclosure where Trinh works. Most of one wall holds large spools of thread in just about every color imaginable. Her workspace is bright and organized.

“You should have seen the place before. It was dark, dingy, and had concrete floors,” said Nick Kelley.

Trinh has been doing alterations since 1994, first for S&K Menswear and then with her brother at International Alterations of Benton. Her services include alterations of men’s and women’s clothing, formal gowns, and beading. She also works on leather.

“My favorite things to work on are prom and formal gowns. I like to see how pretty the girls look,” said Trinh.

Kims Alterations

2002 N. Mississippi just off Cantrell

Flake & Kelley has a wide variety of commercial properties available of all types and sizes. Let our experts help you find your perfect space. Contact us today.