In The News

Opportunity zones offer investment opportunity

Opportunity zone map

AEDC Map of Nominated Opportunity Zones

 

In April of 2018, Gov. Asa Hutchinson nominated 85 Opportunity Zones in Arkansas (the maximum eligible tracts) to the US Department of the Treasury. All 85 tracts were designated Qualified Opportunity Zones (QOZs) in December 2018. This designation provides tax incentives for private investment in low-income communities nationwide. An article published by The Counselors of Real Estate (CRE), The Counselor magazine, describes some of those incentives in more detail.

The Arkansas Democrat-Gazette reported new rules from the administration were released Wednesday stating investors will have several ways to qualify for tax breaks.

“We’re delighted to have the opportunity zone designations in Arkansas and are confident they will make a difference in reinvestment in these areas of the state,” said Hank Kelley, CEO.

If you are interested to know whether your property is part of an opportunity zone or would like to learn more about investing in an opportunity zone in Arkansas, contact Hank Kelley today.

F45 Training Opens in Westchase Plaza

Flake & Kelley Commercial is pleased to welcome a new tenant to Westchase Plaza at 301 N. Shackleford in West Little Rock. F45 Training is now open and held their grand opening celebration on Saturday, Feb. 23 from 8 to 11 a.m. For a limited time, they are offering a free trial at https://f45training.com/westlittlerock/trial/.

F45 Training provides High Intensity Interval Training (H.I.I.T.) pairing interval cardio and strength training as a group workout. Trainers lead up to 27 clients through 45-minute sessions with two trainers present for every class

Kristie Hightower Obert, who owns the franchise in Little Rock with her husband, Richard Obert, said, “The program is designed to encourage members to schedule 7-day workouts that only take 45 minutes each day.”

“With so many preset programs available through F45 Training, workouts will always be changing to keep members motivated to reach their fitness goals,” said Richard Obert.

Hank Kelley said, “On behalf of the owners of Westchase Plaza, we are glad to continue to add to our list of restaurants, merchants, and health and wellness providers. The high visibility and accessibility of the intersection at Markham and Shackleford will serve F45 Training well.”

Agent and partner, Nicholas Kelley, negotiated the lease for the 3,813 RSF space.

Flake & Kelley Commercial Elects New Shareholder Partners

Little Rock, AR (December 21, 2018) – Flake & Kelley Commercial is pleased to announce the election of four new shareholder partners. Nicholas Kelley, Cynthia Lu, Kevin Pledger, and Eric Varner have earned shareholder status in the company to join existing partners John Flake, Hank Kelley, Daryl Peeples, Cheryl White, Maggie Hogan, Kathy Groce, James Harkins, Bill Pendergist, and Brooke Miller. With the addition of these new shareholders, Flake & Kelley now has partners across every department, including: brokerage, property management, accounting, human resources, and maintenance.

Hank Kelley, CEO of Flake & Kelley Commercial, commented: “Our new shareholders are an important part of our future as they demonstrate a high degree of knowledge and care for our clients.”

John Flake, Chairman, joined Mr. Kelley in congratulating the new partners: “Our new shareholders represent the finest in professional services. We are delighted to recognize their many contributions to Flake & Kelley.”

Nicholas Kelley joined Flake & Kelley in 2017 and serves as Executive Vice President for the company. He is also a member of Flake & Kelley’s Executive Committee. Nicholas is a member of the company’s brokerage/leasing team, representing such clients as Arthur’s Steakhouse/Ocean’s at Arthur’s and Riverside Properties and properties including Two Financial Centre and the Blandford Building. He also provides guidance to Flake & Kelley’s team on a variety of complex legal matters.

Nicholas is a graduate of the University of Georgia (BBA, Real Estate and Finance) and the Walter F. George School of Law, Mercer University (JD). Mr. Kelley received The American Bar Association Section of Labor and Employment Law and the Bureau of National Affairs Award for excellence in the study of labor and employment law. Prior to joining Flake & Kelley, Nicholas practiced as a commercial real estate attorney with the Little Rock firm of Quattlebaum, Grooms & Tull, PLLC and most recently with a large Am Law 100 firm in Atlanta, Georgia (McGuire Woods LLP). Nicholas is recently completed the Arkansas Business Executive Leadership Academy.

Cynthia Lu joined Flake & Kelley in 2013. As a member of the company’s transactional team, Cynthia is responsible for traditional brokerage, leasing, and tenant representation. She represents national, regional, and local retailers such as AT&T, Firebirds Restaurants, Mattress Firm, PetSmart, Signet Jewelers, and Taco Bueno. Cynthia is also a leasing agent for a number of retail centers, including Westchase Plaza, Markham Square, The Village Shopping Center, and Lewis Crossing in Conway.

Cynthia is a summa cum laude graduate of Rice University (BA) and earned a master’s degree from Georgia Tech University in Building Construction & Facility Management. Cynthia was one of the first LEED (Leadership in Energy and Environmental Design) accredited professionals. She is a member of ChainLinks Retail Advisors and the International Council of Shopping Centers (ICSC). Cynthia was recognized as one of Little Rock Soiree Magazine’s “Women to Watch” in 2017. Cynthia has recently been selected to participate in the Leadership Greater Little Rock Class XXXIV.

Kevin Pledger joined Flake & Kelley in 2014 and serves as Director of Facilities. He is responsible for directing all activities for the facilities department including the repair, maintenance and construction of all Flake & Kelley managed properties.

Kevin is a member of the American Society of Healthcare Engineering (ASHE), the Arkansas Association for Healthcare Engineering (AAHE), the National Fire Protection Association (NFPA) and the American Society for Heating, Refrigeration, Air Conditioning Engineers (ASHRAE). Prior to joining Flake & Kelley, Kevin served as the Operations Manager for the Arkansas Building Authority.

Eric Varner joined Flake & Kelley in 2013. As a member of the company’s property management team, Eric oversees the management of some of Central Arkansas’ premier office buildings, medical buildings, and retail centers, including Two Financial Centre, The Village at Pleasant Valley, Westchase Plaza, and Shackleford Crossings.

Eric is a graduate of Ouachita Baptist University (BA – Business Administration). Eric was recently awarded the designation of Certified Property Manager® – CPMs are recognized as experts in real estate management and they are at the top of the profession. Eric is also active in Park Hill Baptist Church, Urban Promise, and FORE Ouachita.

For further information, please contact:

Paula Guajardo, Director of Marketing

Flake & Kelley Commercial

501.244.7540 (direct)

501.960.3693 (mobile)

pguajardo@flakeandkelley.com

Kevin Kestner joins Flake & Kelley Commercial Northwest

Before joining Flake & Kelley, Kevin was the President of a multi-unit franchise group in Arkansas for 10+ years. Kevin is very knowledgeable and experienced in the restaurant/retail sector and can provide insight and representation for any asset class in commercial real estate. He is an active member at Central United Methodist Church, has volunteered and coached youth baseball, basketball and football teams, and is a proud husband and father of four children.

Halsey Richardson is a current member of Leadership Fayetteville’s class XXXII

“Leadership Fayetteville gives a backstage pass to all things Fayetteville and Northwest Arkansas while building life-long business relationships. Born and raised in Fayetteville, I am excited to learn more about our great city and engage with local organizations to help better serve the community.”