What's happening?
March 31 - April 6, 2014
Commercial Real Estate around Central Arkansas
By Jeff Yates
Welcome! This is a new endeavor to bring you commercial real estate happenings. What you get here will be bits and pieces of what is seen and/or heard about new commercial real estate developments, or new business coming to existing projects, or some combination thereof. You can send suggestions and/or tips to Jeff@ARKCIRE.com. Now on to this month’s info.
Via word on the street, observation, and confirmation @ tidedrycleaners.com, Little Rock will soon have a new choice for laundry and dry cleaning. Tide Dry Cleaners stores will be opening this spring at 523 Kirk Rd (Kirk Road at Chenal Parkway) and 11211 Cantrell Road (just east of Pleasant Ridge).
Big Boy Toys at 11409 Baseline Rd., a specialty you-store-it place for boats, cars, RVs and other assorted items fitting the business name as well as traditional self-storage items, has a new owner, new management and is getting a new look. BBT is adjacent to the recently announced renaissance of part of the former Gator Golf as Big Rock Mini Golf and Fun Park at 11411 Baseline Road. BTW, the first respondent fully and correctly describing the origin of the name of this street (Baseline Rd.) will win a gift certificate to the Chipotle under construction at the SW corner of Markham St. and University Ave.
Just down the street from Big Boy Toys, next to the Walgreen’s (formerly a USA Drug) at Stagecoach and Baseline, will be the new southwest area fire station for the Little Rock Fire Department. This addition to the LRFD is thanks to the sales tax passed a couple of years ago. The Outlets at Little Rock, planned next to Bass Pro, will help all Little Rock residents benefit from sales tax dollars collected.
In the now-you-see-it-and-now-you-don’t category, the buildings at 5322 to 5326 W. Markham Street (across from War Memorial Golf Course) came a tumbling down in March. Word from some in the know is that there are no immediate plans for the property; the work there is strictly demolition. From other news reports it appears the buildings had perhaps become a liability and impediment to the sale or redevelopment of the property. For now, it will still make good parking for games at War Memorial.
There are many things happening on Chenal Parkway. The news this time is about Chenal Curve. This is the north side of Chenal Parkway at the intersection with the west leg of Kanis Road. After nearly a year of wrangling with the City of Little Rock and Entergy, this project recently received approval from the Planning Commission to build a “tunnel” car wash at this location. Keep watch to see if the Board of Directors approves a new chance to clean your car on Chenal Parkway and if the car wash gets built there. There is a retail building planned between the car wash and the existing Shell station at the corner of Chenal Parkway and Kirk Road. One may pop up before the other; they may come together, or not at all. We’ll see.
Speaking of watching to see, we hear the PetSmart is close to making a deal that may move the store from being south of Furniture Row to being “in the mix” with Ross, Michaels, TJ Maxx and others at McCain Plaza. While you are watching McCain Blvd. to see if that happens, keep an eye on the Sears Auto building. Sears’ real estate division, Seritage, is in the process of selecting tenants for a redevelopment of that building into a multi-tenant retail building. Mentioned uses include a restaurant, a mattress store (another one?) and a mobile phone store. Keep watch on that.
New and proposed projects in Maumelle are generating quite a bit of buzz. A shadow center in front of Walmart (behind Burger King and across from Dollar Tree) is scheduled to deliver this spring. A retail/storefront-office building is proposed in the curve of Maumelle Blvd., just west of Christian Brothers. There is talk of a community shopping center between Kroger and the Neighborhood Market. All Maumellians should keep an eye out and report progress on these.
In Benton (or is it Bryant?), at I-30 and Alcoa Road, a new Kroger Marketplace is planned as well as an Academy Sports + Outdoors to join it. There’s talk of some other retailers, maybe some medical uses and a restaurant or three to join that project. This site has a long history of being considered for retail development. It looks favorable that after many years it may come to pass.
And lastly, after many years (How many? Correct answer wins a gift certificate.) Chuck E. Cheese is moving his mouse hole from North Rodney Parham Road to South Shackleford Road. Chuck, with his new rock star image, is taking up residence with Longhorn Steakhouse, Copeland’s and JC Penney down at Shackleford Crossing; don’t go looking for Chuck next to K-Mart, he won’t be there. For that matter, how long will K-Mart be there?
Hope you’ll check in again next month for the next batch of assorted observations. If you have a good one, share it and I’ll share it with the readers.
Jeff Yates is a managing partner with ARK Commercial & Investment Real Estate. You can reach him at Jeff@ARKCIRE.com
www.ARKCIRE.com. 501.396. 9714 O/ 501.352.3325 M
