Village of Rahling sells to Flake household for $6.6 million
The Village of Rahling Highway, a multitenant industrial property at 25 and 27 Rahling Circle in Little Rock, modified arms just lately for $6.6 million. The acquisition value equals $185.21 per sq. foot.
Jessica Flake Dearnley, the co-founder and CEO of Flake & Co. in Little Rock, introduced the acquisition Wednesday (Nov. 9) in a information launch.
Restricted legal responsibility firms led by Little Rock industrial actual property developer John Flake and his household purchased the buildings as tenants in widespread in an off-market transaction. The middle is on the southeast nook of Chenal Parkway and Rahling Highway.
The 35,960-square-foot property is absolutely leased. Tenants embrace O’Looney’s, Cinco de Mayo, Samu Sushi, YGBF Kitchen, Joe White & Associates and different skilled workplaces.
In line with the discharge, it’s the Flake household’s fourth acquisition in 2022.
“This can be a non-replicable location with present restaurant facilities and workplace ground plans that meet tenants’ wants post-pandemic,” Dearnley stated within the launch. “It was that if you’re within the resort enterprise, you might be within the restaurant enterprise. Now that goes for skilled workplace customers. We discover the Village ideally suited in that workplace customers have comfort to their properties, eating places on web site, together with O’Looney’s with Chenal Promenade throughout the road.”
The vendor was VARR West LLC represented by Nathan Hutchins with SVN/ArkBest Realty LLC. Relyance Financial institution of Pine Bluff offered financing.