What’s Happening?

September 1-7, 2014

Commercial Real Estate around Central Arkansas

By Jeff Yates

Jeff@ARKCIRE.com

Wow! Last month I suggested having a look at the site work for the Outlets at Little Rock next door to Bass Pro. Well, now the trees have been cleared where the new ramp from I-430 will be. This clearing creates a whole new viewing spot for thousands of cars that roll by five days a week at five miles an hour after work. And the first concrete barriers are in place along the freeway. I don’t know how long the road construction at I-430 and I-30 is supposed to last. But I know commuters through the intersection will have a front-row seat, often sitting still, to watch the outlet mall being constructed.

This column has several construction tidbits and observations. Markham West shopping center (Fuller & Sons / Chips BBQ) is getting a facelift and work is underway. The work hasn’t started but reliable sources say Hydco will soon be giving Market Plaza shopping center on Market Street at Rodney Parham Road (where Franke’s is) a facelift. The planned work, with façade changes, turrets and lights, has existing tenants excited and has attracted new tenants, like Party Time, to move to Market Plaza from other centers.

Planning and zoning watchers are continuing to see that anyone trying to build a convenience store in Little Rock should budget as much for engineers and attorneys as they do for construction costs if they hope to survive the gauntlet necessary for city approvals. Kum & Go has had some success in Little Rock but just as much failure, and MAPCO Express has had a rough go of it lately. Murphy Express squeezed out a 6-5 vote of approval at University Avenue and 12th Street. Murphy Express also has an application in process on AR Hwy. 10 (Cantrell Road) at Taylor Loop Road. At last check the item had been deferred while sorting out how to deal with Little Rock’s recommendation of NO LEFT TURNS into the property. Think about it for a second, right turns only. I imagine a UPS driver could manage it. I understand UPS has software that plans delivery routes to avoid left turns. Maybe there’s a no-left-turn app for regular drivers.

Keep an eye on the former Darnell Drug Store at 106 S. Rodney Parham near Red Lobster (For those of you living in East Perryville, yes Red Lobster is still open and has strong volume) The Darnell building may soon be home to a craft beer and home brew supply store & hobby shop. Right next door the Board of Adjustment recently approved a plan for a 12,000 square foot Asian food restaurant. That should be easy to spot when it is built. It will be approximately twice the size of Red Lobster.

Here’s some quick tidbits. LA Fitness is set to open soon on McCain Blvd. at Lakewood Village shopping center. It replaces the movie theater that closed there a year or so ago. There is an event center under construction in Chenal Valley, on the hill behind O’Looney’s Wine & Liquor. Not far from there, a four building office park has been proposed, around the small lake on Kirk Road.

In case you missed it, Conway is poised to add several hundred thousand square feet of retail shops and restaurants. Dillard’s has announced a store at Central Landing. Central Landing is a 150-acre planned development with 250,000 square foot life style center, the Shoppes at Central Landing. Other specialty stores and restaurants will also be a part of the project, which also includes plans for hotels, office buildings, single family residential and apartment homes. Across I-40, plans are underway for a Sam’s Club, Academy Sport + Outdoors and other national retailers and restaurants. All of this is a great boon for Conway. It also means fewer shopping trips from Faulkner County, and maybe Maumelle, to Little Rock. In turn, Conway will gain those sales tax dollars. On September 9, Conway residents will vote on whether or not to support all this growth and the infrastructure to support it with a bond issue election.

 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.  

 

  • Jeff Yates
    Jeff Yates