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Randi-Kaye Kernodle joins CENTURY 21
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Kernodle joins Cabot team, plans to specialize in residential sales.
PCBA President Lee Short reviews past year Short talks importance of PCBA, looks forward to Annual Dinner.
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U.S. Marshals in the Natural State:
MUSEUM OPENING IN FORT SMITH IN 2019
As the oldest and most versatile federal law enforcement agency in the county, the United States Marhsals Service has a long history of which includes many ties to the Natural State. On Sept. 24, 2019, The United States Marshals Museum will open on the banks of the Arkansas River in Fort Smith, Ark. Read about some of the most (in)famous Marshals with Arkansas ties on page 12. (Rendering courtesy of the U.S. Marshals Museum, created by Thinkwell)
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CENTURY 21 Real Estate Unlimited welcomes Randi-Kaye Kernodle CENTURY 21 Real Estate Unlimited is pleased to announce Randi-Kaye Kernodle has joined its firm as a sales associate. She will specialize in Residential property sales in the Cabot area. “We are thrilled to have Randi-Kay join our team,” said Barbara Shown of CENTURY 21 Real Estate Unlimited. “It’s
an exciting time to be with the CENTURY 21 System as we increase our market presence in Cabot.” Kernodle just successfully completed extensive training and licensing through X-Cellerate. XTE is a four-week productivity course which boasts a strong focus on lead generation and
learning by “doing.” Participants use the daily productivity tracker to refine habits, track progress and overcome set-backs while benefiting from coaching and training designed to cure skill gaps. The productivity tracker is used to stay on track to secure listing contracts and buyer rep agreements. Office/Manager involvement is vital for the student’s success. Set the PACE with Prospecting, Accountability, Closings and Education. Class prep and attendance is approximately 10 hours per week for four weeks. Shown added, “We believe training supports growth and professional excellence in the real estate industry. Performance-based training is necessary to assure that CENTURY 21 associates maintain their competitive edge and offer the best service possible to their clients.”
Randi-Kaye Kernodle
Kernodle graduated from the University of Arkansas with a Marketing Degree. She lives in Cabot with her husband and two sons. About CENTURY 21 Real Estate Unlimited They are an independently owned and operated franchise affiliate of CENTURY 21 Real
$800,000 gift to benefit UA Little Rock education, health professions students
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The University of Arkansas at Little Rock has received an $800,000 gift from Dr. Bruce Murphy, president and chief executive officer of the Arkansas Heart Hospital, that will benefit students in the College of Education and Health Professions. Murphy’s gift supports the Student Success Initiatives Fund within the college. Funding will be used to employ a full-time social worker and provide emergency funds for student support services such as expanded academic support through tutoring and mentoring programs, career development and financial management workshops, emergency student assistance funds, and scholarships. “Dr. Murphy understands the role UA Little Rock plays in
this city and is willing to support programs that promote student success while helping the economy of the region,” said UA Little Rock Chancellor Andrew Rogerson. “His generous giving to the College of Education and Health Professions to help in the retention and timely graduation of our nursing, social work, and education students clearly serves our students and central Arkansas. I thank him sincerely for his ongoing faith in this university and his commitment to continue to move UA Little Rock forward in the coming years.” Murphy, a longtime Little Rock cardiologist, graduated summa cum laude with a Bachelor of Science from the University of Arkansas at Little Rock. He said he hopes the gift will help equip students with the resources they need to overcome obstacles that might prevent them from getting a college education. “One future Little Rock must face and meet is the hope these
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Estate LLC (century21.com), franchisor of the iconic CENTURY 21® brand. Century 21 Real Estate LLC is comprised of approximately 7,450 independently owned and operated franchised broker offices in 79 countries and territories worldwide with more than 115,000 independent sales professionals. Century 21 Real Estate has numerous websites to help answer specific consumer needs. They are century21cabot.com, century21. com, century21Global.com, commercial.century21.com, century21.com/finehomes, and century21espanol.com. ©2017 CENTURY 21 All Rights Reserved. CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Each office is independently owned and operated. Source: Grassroots Newswire v
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Dr. Bruce Murphy, president and chief executive officer of the Arkansas Heart Hospital (Photo provided)
kids have to get a college degree,” Murphy said. “This generation needs family-like resources, and we are planning this effort to supply resources to those in need.” About 2,500 students are now enrolled in programs within the College of Education and Health Professions, which includes the Department of Audiology and Speech Pathology; the School of Counseling, Human Performance and Rehabilitation; the School of Education; Department of Nursing; and School of Social Work. “Students across all of our disciplines have benefited from the availability of these services,” said Dr. Ann B. Bain, dean of the College of Education and Health Professions. “This is a model of support for students that makes a difference in student success. I cannot thank Dr. Murphy enough for his support.” Source: UA Little Rock Office of Communications v
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300 Natural Resources Drive, Little Rock, Arkansas 72205 • (501) 225-1987 CALENDAR OF EVENTS May 8 – ARPAC Fundraiser @ Dustbowl Lanes May 14-19 – NAR REALTOR Legislative Meetings & Expo @ Washington, DC May 21 – Board of Directors Meeting May 28 – Memorial Day (LRRA offices closed) June 5 – YPN @ Cache
Mitsy Tharpe has over 25 years of experience in sales and marketing. Her enthusiastic and hard-working attitude has helped propel her real estate career. Her attention to detail and excellent customer service have helped her to achieve the Platinum Level in the Awards of Distinction for real estate. Married with four adult children, Mitsy is also a member of the UAMS Consortium.
CODE OF ETHICS TRAINING
All REALTORS are required by the National Association of REALTORS to take Code of Ethics training every two years now in order to maintain membership. That two year period will be up December 31, 2018. If you are unsure as to whether or not you need COE training, please go to our website: www.lrra.com and look for the “Code of Ethics” link to take the 2.5 hour training on line for free. Or you can take a CE class that includes COE Come meet the new YPN committee in Little Rock at training and make sure we have a copy of your certifiLittle Rock Realtors Announces Cache for happy hour and to support Habitat for Human- cate that indicates you completed COE training in your New Appointments to Board of Directors ity. Please join us June 5 from 5:30-7:30 p.m. Food, beer regular CE course. Or if you are a new REALTOR you The Little Rock Realtors Association announces the and wine are sponsored by our wonderful sponsors from will have taken the course before joining LRRA. If you appointment of new officers to its Board of Directors. 5:30 to 6:30 and then you are on your own! The entry fee take the course in CE, please notify us at LRRA so we can The new appointments are: Margaret Bell Hughes of is $5 for LRRA members and $10 for Affiliates and $15 for enter your information for you in NRDS. The Property Group; Kristen Kennon, Owner of iRealty September 6, 2018, LRRA will offer a Continuing guests. Proceeds go to Habitat for Humanity of Pulaski Arkansas; Susan Desselle, Owner of Desselle Real Estate; Education class @ St. Vincent infirmary. We will have County to help build a home. We hope to see you at our LaKesha Crow of CBRPM Group and Mitsy Tharp of registration information available soon. next Central Arkansas YPN event! Aspire Realty. A huge thank you to all of our May YPN sponsors for “I’m extremely satisfied with the level of skill we’re able their continued support! to access with our board,” said Derick Brooks, 2018 Board President. “We have a very robust leadership foundation in place and we couldn’t be happier with these appointLRRA is looking for sponsors for the following events. ments. Each of these individuals’ deep professional backNow more than ever, it is critical for REALTORS to Please see the dates below for sponsorship opportunities. grounds and strong commitment to Real Estate will bring come together and speak with one voice about the stabil- We try not to have sponsors from the same industry, But insightful perspectives to our Board.” ity a sound and dynamic real estate market brings to our we cannot guarantee it won’t happen … i.e. two mortgage Kristen Kennon is the owner of iRealty Arkansas with communities. Through ARPAC, we show our support for companies, two inspectors, etc. Please email Libby@lrra. offices in Little Rock, Benton and Sherwood. She has com and cc Parris@lrra.com to let us know you want to those who advocate for us on both a state and national been a realtor since 2013 earning an Award of Excellence sponsor and we will let you know if the sponsorship is level! We are planning a FUN networking/fundraiser every year including Double Diamond last year. Kristen’s open. event. Come out and join us to knock down a few pins designations and affiliations include: Jacksonville Historic LRRA General Meetings: and show your support for a cause dear to all of us in the District’s Realtor of the Year, Sync’s Best of the Metro August 16, September 13, November 15 Real Estate Industry. Please mark your calendars, THIS IS Realtor, Soirée Best Real Estate Agent, Arkansas Times YPN: AN EVENT YOU DO NOT WANT TO MISS! Top Agent, President of the Jacksonville Sertoma Club, June 5, August 7, September 4, October 2, November 6, WHEN: Tuesday, May 8 from 6-8 p.m. Founder of the BNI Profit Makers, Chair of the YPN comDecember 4 WHERE: Dust Bowl Lanes mittee for LRRA, Chair of the Tabletop committee for WHAT: ARPAC Fundraiser and Networking Event NPBOR. COST: A $25 ARPAC Donation Margaret Bell Hughes has over 10 year of experience WHO: REALTORS LRRA rents its Education Room and Board Room out working with buyers and sellers and prides herself on her Keep watch for more details and registration informa- to interested groups in need of a classroom or lecture reputation of being accountable and going the extra mile space. The Education Room is perfect for meeting space for clients and colleagues alike. A staple in the Downtown tion! and seats up to 55. Our Education Room comes equipped Little Rock real estate market—with sales topping $30+ with a large white board, a projector, overhead projecmillion since 2013—Margaret’s experience equips her tor, podium, screen, 55” television and Internet connecclients with the knowledge and guidance to make the best tions for all your connection needs. Our building is also decisions for their needs. equipped with Wi-Fi. Please call Libby at 225-1987 for LaKesha Crow has helped her clients reach their goals Have you used RPR yet to create custom reports for competitive rental rates. since 2003. This real estate mogul closes 45-55 transacyour clients? tions annually. LaKesha is an active member of Delta To go to RPR go to REALTOR.com scroll down on the Sigma Theta Sorority, Incorporated. Her Designations, home page and in the middle on the bottom you will see Affiliations & Awards include: Broker, CRS, CARTUS, “For NAR Members” below, click on “REALTOR Property LRRA is committed to compliance with all state and USAA, NAR; Voted Arkansas Life 2017 Top Agent, Voted Resource” (RPR) and you can begin creating your own federal laws, including laws governing fair housing, antiSoirée 2014, 2015 & 2017 Best Real Estate Agent, Earned reports to help professionalize your interactions with trust and other laws particularly pertinent to real estate. Little Rock Realtors Association Platinum status 2016. clients. Or go to LRRA.com. Scroll all the way down and The Little Rock REALTORS Association will have in our Susan Desselle got into real estate in 2007. In 2014 she the link is the 3rd column at the top. office brochures from the National Association of REALopened her own agency, Desselle Real Estate, where she Here’s what you’ll find: TORS for you to use in your daily business and while leads a team of 13 professionals. Susan is a top producer • 134 Million properties counseling your clients. Please feel free to call us at any each year repeatedly earning recognition at the Diamond • 205000 properties for lease time to pick up a couple of these brochures. and Double Diamond level. “Selling real estate in our area • 1.9 million active listings is a privilege and I want to give back to our industry to • 849 thousand distressed properties help make it stronger, more professional and more well • Pre-prepared reports respected. I look forward to serving on the LRRA board Do you need your NRDS number to pay dues, make a • Local and Federal Economic Area reports and making a positive impact in every way possible,” reservation, log on to REALTOR.org? • Create your own customized report Susan says.
PRESS RELEASE
YPN
AFFILIATE SPONSORSHIP OPPORTUNITIES
ARPAC FUNDRAISER
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RPR-REALTOR PROPERTY RESOURCE MONTHLY RESOURCE
FAIR HOUSING & ANTI-TRUST
NEED YOUR NRDS NUMBER?
CONTINUED ON PAGE 22
Board Officers President: Derick Brooks President Elect: Rick Bertram Treasurer: April Findlay; Secretary: Allison Pickell Past President: Stacy Hamilton; Executive Officer: Libby Sheard
Board of Directors LaKesha Crow, Susan Desselle, Fletcher Hanson, Margaret Bell Hughes, Scott Johnson, Kristen Kennon, Tracy Rice, Robert Richardson, Mutsumi “Mitsy” Tharp, Susan Sutton
Daily Record
4 // May 7-13, 2018
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BY TOMMY HOWARD
Financial Focus www.edwardjones.com
MOTHER’S DAY - FINANCIAL GIFTS FOR YOUR ADULT CHILDREN
M
other’s Day is almost here. If you’re a mother with grown children, you might receive flowers, candy, dinner invitations or some other type of pleasant recognition. However, you might find that you can get more enjoyment from the holiday by giving, rather than receiving. The longest-lasting gifts may be financial ones – so here are a few moves to consider: Contribute to your child’s IRA. If your children have earned income, they are eligible to contribute to an IRA, which offers tax benefits and an almost unlimited array of investment options. You can’t contribute directly to another person’s IRA, but you can write your child a check for that purpose. This could be a valuable gift, as many people can’t afford to contribute the maximum yearly amount, which, in 2018, is $5,500, or $6,500 for those 50 or older. Give gifts of stock. You know your children pretty well, so you should be familiar with the products they buy. Why not give them some shares of stock in the companies that make these products? Your children will probably enjoy being “owners” of these companies, and if they weren’t that familiar with how the financial markets work, having these shares in their possession may greatly expand their knowledge and lead to an even greater interest in investing. Donate to a charity in your child’s name. You might want to donate to a charitable organization that your child supports. In years past, such a donation might have earned you a tax deduction, but the new tax laws, which include a much higher standard deduction, may keep many people from itemizing. Still, it’s possible for a charitable gift to provide you with a tax benefit, depending on your age. If you’re 70 ½ or older, you must start taking withdrawals from your traditional IRA and your 401(k) or similar employer-sponsored plan, but by moving the withdrawal directly to a qualified charitable group, the money won’t count as part of your adjusted gross income, so, in effect, you can get a tax break from your generosity. Review your estate strategy. Like virtually all parents, you’d probably like to be able to leave some type of legacy to your children, and possibly your grandchildren, too. So, if you haven’t already started working on your estate strategy, consider using Mother’s Day as a launching point. At the very least, you’ll want to write your will, but you may need much more than that, such as a living trust, a durable power of attorney and other documents. And don’t forget to change the beneficiary designations on your life insurance and retirement accounts if you’ve experienced a major life change, such as divorce or remarriage. These designations are powerful and can even supersede whatever instructions you might have left in your will. As you can guess, estate planning can be complex, so you almost certainly will want to work with a legal professional to get your arrangements in order. Mother’s Day is a good opportunity for your children to show their love for you, and you can do the same for them by helping bolster their long-term security through financial gifts and legacy planning. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. The Daily Record is pleased to publish numerous columns from inside and outside sources. The opinions and views of these columnists are their own and do not necessarily convey the opinions of The Daily Record.
IF YOU’RE NOT AT YOUR LAST JOB, YOUR 401(k) SHOULDN’T BE EITHER.
To see why it makes sense to roll your 401(k) to Edward Jones, call today.
Tommy Howard
Financial Advisor .
14309 Cantrell Road Suite 4 Little Rock, AR 72223 501-224-7699
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Jack Nelson Jones, P.A. is located in Little Rock, Arkansas. Jack Nelson Jones represents a wide range of clients across the state and the nation, including First Security Bancorp, Crews & Associates, Inc., American Fuel Cell and Coated Fabrics Company, Bank of the Ozarks, the University of Central Arkansas, and North Little Rock School District. Some of Jack Nelson Jones’ other more well-known national clients include Mr. Jerry Jones and the Dallas Cowboys Football Club.
Entergy Ark. v. Francis, 2018 Ark. App. 250 (April 18, 2018) This appeal comes from the Pope County Circuit Court, Honorable Dennis Charles Sutterfield, presiding. This case concerns the application of the when the attorney work-product privilege. This case is one of several that arose from an accident that occurred at Entergy’s Arkansas Nuclear One (“Nuclear One”) plant in Russellville on March 31, 2013, when a temporary crane failed as it lowered one of the plant’s decommissioned main turbine generator stators onto a transport vehicle that was parked one story below, in the facility’s train bay. The stator, which weighed over 500 tons, fell approximately thirty feet. The accident caused several injuries and one fatality, as well as considerable structural damage to the plant. Ronnie Francis, the plaintiff in this particular case, was an iron worker who was injured as he attempted to help a man who had become trapped under one of the beams of the fallen crane. Francis filed a complaint in the Pope County Circuit Court, alleging several claims of negligence against various companies related to Entergy Arkansas, Inc., (“Entergy”); and several contractors and subcontractors including Bigge Crane and Rigging Company (“Bigge”). During the proceedings Bigge propounded discovery to Entergy seeking to obtain copies of two internal investigation reports that Entergy prepared in the aftermath of the accident. Entergy refused contending the reports were attorney work product and, therefore, not discoverable. Bigge filed a motion to compel and Entergy filed a motion for a protective order. The circuit court denied Entergy’s motion and ordered it to provide the reports to both Bigge and Francis, even though Francis had never actually propounded any discovery and was simply “coattailing” on Bigge’s request. Entergy filed an interlocutory appeal challenging the order requiring the production of the reports and Bigge and Francis were appellees. Pertinent to the work product question was that immediately after the accident Entergy began an internal investigation, also known as a “root-cause evaluation,” of the accident. The rootcause evaluation was required both by the Nuclear Regulatory Commission (“NRC”) and Entergy’s internal policy, and its purpose was to identify and determine the cause(s) of “conditions adverse to quality” and to document the “corrective action taken to preclude repetition.” After Entergy submitted its initial “root-cause evaluation,” the NRC found, during its own inspection of the Nuclear One facility, that Entergy’s initial
root-cause evaluation was not adequate. Specifically, the report “did not address Entergy’s oversight of the contractors involved” and the NRC’s inspectors determined that “Entergy did not ensure adequate supervisory and management oversight of the contractors and other supplemental personnel involved with the stator lift, and this contributed to the event.” Consequently, Entergy issued a second report that identified additional root causes of the accident, including, among other things, Entergy’s failure to provide adequate guidance and project-management oversight of the design and testing of the temporary crane. Bigge sought the discovery of the root-cause evaluations, filed a motion to compel when Entergy refused, and Entergy filed for a protective order arguing the reports were not discoverable because they were attorney work product done anticipation of litigation. Bigge countered that the reports were required by Entergy’s own internal policy and by the NRC as part of its regulatory oversight. As such they were done in the ordinary course of business and would have been done even if litigation did not occur. Entergy acknowledged this but counterargued that, while its own policy required the root-cause evaluations, they had a far different character than those it performs in the ordinary course of business. Unlike more routine root-cause evaluations, it contended those at issue here followed a severe accident that was certain to engender litigation; they were performed with the involvement and oversight of counsel; and they required a much more complex level of investigation. Entergy therefore contended that the two rootcause evaluations are “opinion work product” that warranted protection. As a preliminary matter, the Court of Appeals addressed the circuit court having ordered the production of the reports to Francis when he had never served Entergy with interrogatories or requests for production formally seeking the root-cause evaluations. In the absence of making his own requests for discovery from Entergy, he lacked standing to “join” Bigge’s motion to compel. Therefore, the Court of Appeals reversed that part of the circuit court’s order directing production of the reports to Francis. Turning to the core issue of the application of the work-product doctrine, the Court first noted that the applicable standard was whether the circuit court abused its discretion in permitting the discovery of the reports by Bigge. Next, it observed that ordinary work product, including raw data collected in the course
of litigation and included in an attorney’s file is subject to qualified protection and is discoverable only upon “a showing that the party seeking discovery has substantial need of the materials in the preparation of his case and that he is unable without undue hardship to obtain the substantial equivalent of the materials by other means.” Opinion work product, consisting of “the mental impressions, conclusions, opinions, and or legal theories of an attorney or other representative of a party concerning the litigation,” however, is subject to almost absolute protection. But irrespective of nature of the information sought, the application of the doctrine always starts with whether the contested documents were prepared in anticipation of litigation. Moreover, the mere possibility that litigation may result is not sufficient to trigger the protection of the work-product doctrine. Rather, the test is “whether, in light of the nature of the document and the factual situation in the particular case, the document can fairly be said to have been prepared or obtained because of the prospect of litigation, and there is no work-product protection if the documents were prepared in the ordinary course of business. In this case, it was undisputed that the root-cause evaluations would have been prepared irrespective of any threat of litigation because of the NRC and Entergy’s own policies. While Entergy contended these evaluations went far beyond those that would have been ordinarily done without the threat of litigation, the Court observed that Entergy, as the party seeking the assertion of the work-product privilege, bore the burden of establishing that exception. However, there was no unredacted version of the first report in the record and no version of the second report in the record at all, and, therefore, there was no way for the circuit court to be able to weigh and assess that contention. The Court noted that Entergy did submit affidavits from its attorneys but the first affidavit did little more than establish that counsel was involved in the first root-cause evaluation that was otherwise performed in the ordinary course of business, and the second affidavit which went to greater lengths to distinguish both root-cause evaluations from those that are more “routine,” was not presented until after the circuit court had issued its order denying Entergy’s motion for a protective order and directing Entergy to produce the reports. Since no motion to reconsider was filed, the Court held that the second affidavit was never presented to the circuit court in a format that allowed the court to consider it. In light of the foregoing, the Court determined that Entergy failed to meet its burden of proving that the root-cause evaluations were not done in the ordinary course of business and that it could not find that the circuit court abused its discretion. Accordingly, the decision of the circuit court regarding the application of the work-product privilege was affirmed. v
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May 7-13, 2018 // 5
Commercial Real Estate around Central Arkansas BY JEFF YATES
What’s Happening Jeff@ARKCIRE.com
For those that are watching the progress, there are signs of activity with the former Little Rock Sears property at South University and Interstate 630. What is now being referred to as The District at Midtown has filed a rezoning application with the City of Little Rock. You might wonder, how is it being rezoned? Will it be used as a warehouse? No. Maybe a high-rise office building? No. The property that has been used for 50 years as retail and office must be rezoned to be used as retail, office and hotel because of the Midtown Design Overlay District. This overlay district requires that ANY redevelopment must be rezoned as a Planned Development. The application has been filed with the Planning and Development Department at the City of Little Rock. It will be in front of the Planning Commission this month. In news possibly related to The District at Midtown, word is that a group of former Little Rock Diagnostic Clinic doctors are roaming the streets hunting for a medical office building. Additionally, Arkansas Business reported that Dr. Baltz, formerly of CARTI, has taken offices in Doctors Building which is adjacent to The District at Midtown. On the subject of things happening around the area, TSM Properties paid $625,000 for the property located at 5611 Kavanaugh in Little Rock. The
land is basically a typical city lot of approximately 7,000 square feet and the building is carried at 2,786 square feet by the Pulaski County Assessor. We’ll call that $225 per square foot on the building. The land has two or three times the value of the building itself, though. In the time-flies department it seems like that property sold not very long ago. Actually, it last traded almost eight years ago. The price then was $420,000. A couple of EZ Marts in Pulaski County sold last month. One is located at 11724 Rainwood in Little Rock. Another is located at 1321 Main Street in Little Rock. These convenience stores sold for $1,277,000 each. A T-Mobile store at 1807 T.P. White Drive in Jacksonville sold last month for $1,475,000. As dollar stores like Dollar General, Family Dollar and so forth continue to expand there seems to be a steady inventory of those, and other things, for sale as single-tenant-net-lease investments. There are Walgreens for sale – three in Little Rock alone. 8815 Stagecoach Road for $6,634,600, a 5.20 percent cap rate; 5917 Baseline Road for $4,850,000, a 7.75 percent cap rate; and 5525 West 12th Street for $4,850,000, a 7.75 percent cap rate. Freddy’s Frozen Custard & Steakburgers at 610 South Bowman in Little Rock, in the Walmart parking lot, is listed for sale at $2,574,000, a 5.75 percent cap rate. The Freddy’s at 20380 I-30 in Benton is listed for sale at $1,354,546, a 5.50 percent cap rate. If the North Little Rock Freddy’s is being offered, I didn’t see it. IHOP at 306 West Commerce Street in Conway is listed for sale at $2,810,000. Also available, unpriced, is the Regal Cinema located at the intersection of Interstate 430 and Rodney Parham Road in Little Rock. What else is for sale in Central Arkansas, though? One thing I found is a “One-of-a-kind building in Downtown Conway that has been torn down and completely rebuilt to house the
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immaculate new restaurant, John Daly’s Steakhouse.” It is listed for sale at an asking price of $3,500,000. For those with a heartier appetite, the ~270,000 square foot Conway Towne Center is available for an asking price of $13,550,000. (Regular readers know that there is a bump in price for properties using a superfluous “e”.) Along I-440 on the east side there are three multi-million-dollar industrial buildings for sale. The trio includes a ~25,000 square foot building at 10600 Maybelline Drive for $4,500,000, a ~57,000 square foot building at 801 Fiber Optics Drive for $3,500,000 and an ~87,000 square foot building at 6700 Sloane Drive for $3,690,000. In the market for an office building? The Riverdale area of Little Rock has a couple listed for sale. A ~25,000 square foot office building at 10 Turtle Creek Lane is offered for $3,800,000 and a ~30,000 square foot building at 2300 Cottondale Lane has an asking price of $2,950,000. Maybe you are looking for something a little further west. A ~20,000 square foot building at 21 Corporate
Hill Dr. in Little Rock is listed for $3,945,000. Saline County buyers might have a look at the IHOP at 306 West Commerce in Bryant. Asking price on it is $2,810,000. Another option might be a retail building at 1621 Military Road in Benton that is being offered for $2,884,925. And in the not-quite-gossip department, I understand that the former Dixie Café at 1215 Rebsamen Park Road is under contract to Centennial Bank. This location would be a relocation of the branch office currently located at 2610 Cantrell Road. The Q2 CCIM / LRRA meeting in March was well attended. The Midtown Little Rock area was featured. Upcoming programs planned include presentations featuring West Little Rock, Argenta, East Village and others. If you have program ideas you can email me. If you are not getting emails announcing these lunches, you can email me and I’ll pass that along to get you added to the list. The next lunch is scheduled for July 19. I keep hearing people talk about having questions and/ or concerns regarding the new
tax laws and how they affect commercial real estate. I do too. If you know of a good lecture or workshop coming up, let me know. I’d like to see if I can attend and I’m likely to plug it here. Another popular topic is in regard to whether there is another economic slowdown on the horizon. At the Q1 CRE lunch, the economists noted that the current economic expansion is one of the longest in history and that it would have to end sooner or later. They also said that they didn’t see any indications that the expansion would end this year. What say you? Do you see growth? Do you see things flat? Do you see things slowing? If you see things slowing, are you scared yet? Share with the class if you want. I’ll aggregate any responses and share the general observations with the class. Tips and suggestions, well most of them anyway, are appreciated. Hope you found something interesting in the column this month. Check back again next month for the things that didn’t get included here this time and that pop up between now and then. v