Commercial Real Estate Council of Metro Little Rock held the fifth annual Commercial Real Estate Awards on Tuesday to recognize significant achievements and the largest real estate transactions in metro Little Rock made by local brokers in the previous year. Transactions are recognized in the categories chosen when the transaction was submitted. Sales are based on reported dollar amounts and leases are based on reported square footage.
Subscribe if you like, pay if you can
Roby Brock, CEO of Natural State Media, parent company for Talk Business & Politics and The Northwest Arkansas Business Journal, and Cathy Tuggle, Owner and Principal Broker of Tuggle Services dba Apartment Hunters, emceed the event.
Federal Metal Company – 1200 Pike Ave– Ryan Gibson, Cushman & Wakefield | Sage Partners and Stuart Mackey, Hathaway Group
Gastro Arkansas – 11700 Cantrell Road – Brandon Rogers, Colliers Arkansas and Nick Kelley, Kelley Commercial Partners
1514 Market Street – Padgett Mangan & John Martin, Moses Tucker Partners & Catherine Mulkey, Whisinvest Realty
915 W Main Street, Jacksonville – Nathan Monan, Colliers Arkansas
Bowman Plaza – 4700 Bowman Road/Colonel Glenn Road – Casi Runnells & Kevin Huchingson, Colliers Arkansas
The Middle – Cantrell Road/Rodney Parham Road – Kevin Huchingson & Bill Pendergist, Colliers Arkansas
Ridge at Chenal Valley – Ted Bailey III & Richard Cheek, The Multifamily Group
First Security Bancorp – 4001 Rodney Parham Road – Kevin Huchingson & Isaac Smith, Colliers Arkansas and Ryan Gibson, Cushman & Wakefield|Sage Partners
Riverdale Center – 2500-2610 Cantrell Road – Nick Kelley & Hank Kelley, Kelley Commercial Partners and Jason Parker, Cushman & Wakefield|Sage Partners
The Commercial Mortgage Lender of the Year award recognizes the highest amount of commercial mortgages filed as a percentage of local market deposits. This year’s award goes to First Community Bank.
UA Little Rock School of Business Real Estate Program: The UA Little Rock School of Business’ Real Estate Program began restructuring in 2017 under the leadership of Elizabeth Small. By 2020, the curriculum offered incoming freshmen a degree that integrated real estate classroom education with experiential learning and research in real estate issues and policy. The current students are involved in entrepreneurial activities and development projects and benefit from panels of executives with real life experience in the real estate industry and exposure to regulatory issues involving real choices and opportunities. The impact on workforce development is clear from the students and graduates who have interned or accepted full-time positions with local real estate companies.
RAM Partners LLC Multi-Family Property Management Acquisitions: While each year brings changes in ownership and management of multi-family properties, 2022 saw a level of acquisitions that were unprecedented in the metro Little Rock market. RAM Partners LLC entered the market after acquiring seven multi-family properties for management. Sarah Wigley, Area Vice President, with Marinee Ignacio will oversee management of Arlo, Brightwaters, Esplanade District, McKenzie Park, The Ridge at Chenal Valley, The Villas at River Pointe Dr., and The Waters at Chenal.
Arkansas Pharmacists Association Building – During protests in June 2020, the Arkansas Pharmacists Association building was heavily damaged by vandalism and fire. This happened in the middle of the Covid 19 pandemic when pharmacists were on the front lines of vaccination efforts. Two years of planning and construction resulted in a beautiful 2-story 8400 square foot facility. This building on the corner of Victory and Capital, where we are right now, is packed full of features. On the first floor, the facility includes executive office space, office space, private meeting rooms, collaborative conference areas, and social media rooms for podcasting. The first floor also comes equipped with a nice break area for employees and visitors. The main feature to the space is the large conference area on the second floor that has its own catering kitchen and huge balcony for entertaining. This spacious room can be used to host and entertain clients as well as rent for its gorgeous view of the state capitol.
Architect: RPPY Architects
Bank: First Community Bank
Contractor : CBM Construction
Title Company: Beach Abstract
Tenant: Arkansas Pharmacists Association
Big Jim or The Big Kahuna moved with his wife and three young sons to Little Rock in 1965. He made a “coin flip” decision to join Rector-Phillips-Morse as a real estate broker, launching a career that would last through his retirement in 2019 after 54 years of providing superior commercial real estate service to a long list of satisfied clients. Along his path he founded a company that has included three generations of Hathaways and reached levels of achievement beyond his dreams.
Notable transactions in which Jim played a key role:
Assemblage of 160 acres for Koger Office Park (now Westlake Corporate Park)
Sale of 157 acres for a new North Little Rock campus of Baptist Hospital
Assemblage of 100 acres that would become Shackleford Crossing
Jim Hathaway is well-known in the commercial real estate community, but some things people may not know about him are
Still works out every Monday and Friday
Is an avid bridge player
Is a sports nut and a sportswriter at heart. Reported on sports for high school and college newspapers
Jimmy comes from a family with a long history in Little Rock. His great-grandfather, Herman Kahn, was involved in real estate in the early 20th century and among other things developed the Marion Hotel. His grandfather Cleveland Moses started Moses Melody Shop in 1917 on Little Rock’s Main Street and provided Jimmy with his first real job as a teenager in the early 1960s. Having been around and worked in a family-owned business, it isn’t surprising that he carried on that tradition. Jimmy Moses founded Moses Tucker Real Estate in 1984 and serves as Moses Tucker partners Co-Chairman of the Board, working along with his son, Chris.
Jimmy’s first business passion is the ongoing redevelopment of downtown Little Rock. He always wanted Arkansas and Little Rock to be great places to live. His way of trying to make a difference here has been to recreate a vibrant and exciting downtown, not unlike the downtown he remembers as a kid growing up in the 1950-60s.
In the early 1990s, the area that became the River Market District was full of empty and condemned buildings. One staff member remembered touring the Tuff Nut building and hearing what Jimmy could see the building becoming. Loft apartments above retail space was a new concept for Little Rock, and it wasn’t immediately obvious to others amid the cat-sized rats and rubble. As the project progressed, it became clear that Jimmy’s vision was achievable and far-reaching. Before the project was half-way finished, it was completely leased.
Some things people may not know about Jimmy
He thinks like an artist – he draws his ideas about buildings as he’s describing them
He is extremely generous to people behind the scenes
Always wanted to be a lead singer in a rock band
Sponsors for the event included Ferstl Valuation Services and C.B.M. Construction, Apartment Hunters, Blue Whale Development, BluSky Restoration, Centennial Bank, 400 Capitol Regions Center, Colliers Arkansas, Kelley Commercial Partners, Moses Tucker Partners, Quattlebaum, Grooms & Tull PLLC, and Cushman & Wakefield|Sage Partners, Allegra/Image 360, ARK Commercial, CDI Contractors, GFF Architects, Keet O’Gary Construction, Metro Disaster Specialists, Mulhearn-Wilson Company, and Pulaski County Title.
CREC board members are Matthew Beachboard, Moses Tucker Partners; Reagan Compton, GFF Architects; Michael Crosby, Quattlebaum, Grooms & Tull PLLC; James Harkins, Blue Whale Development; Rose Kline, Cushman & Wakefield | Sage Partners; Teresa Kreis, Colliers; Rodney Peel, Arvest Bank; Brad Sims, Pulaski County Title; Payton Smith, Metro Disaster Specialists; Cathy Tuggle, Apartment Hunters; and Jeff Yates, ARK Commercial & Investment Real Estate.