Newmark Grubb Arkansas announced Nov. 19 the sale and lease of several properties in North Little Rock’s Argenta Arts and Innovation District, resulting in five new businesses opening along Main Street and more to come in the future.
7th Street LLC, led by John Chandler, purchased four buildings on the 700 block of Main Street and will begin a major renovation of these buildings in the next few weeks.
“The plans are mixed use with commercial storefronts consisting of office, retail and loft apartment space in the rear and upstairs,” Chandler said. “The building exteriors will be brought back to original historical facades. Interiors will be open loft spaces, each unique and one-of-a-kind.”
Led by Senior Managing Director Greg Nabholz and Principal, CEO and Executive Managing Director J. Fletcher Hanson III, Newmark Grubb Arkansas has been named the exclusive leasing agency for the project.
314 Main St., North Little Rock
Also led by Chandler, 314 Main LLC recently completed a major renovation of the 9,000-square-foot former Cornerstone building at 314-316 Main St. that was purchased in December 2014. The building is now 100 percent leased with Skinny J’s Restaurant occupying the first floor and Bourbon and Boots, an online retail store, establishing its headquarters on the second floor.
Three additional spaces have been leased on the west 400 block of Main Street. Maddox, a women’s clothing boutique, opened in the Pennington Building owned by Larry and Joy Pennington at 419 Main St. Rock City Werks/Argenta Gallery, an art studio, gallery and painting studio, recently opened two doors down in the 413 Main St. building owned by John Gaudin. And, Core Brewery will open a pub next door at 411 Main St.
“The demand for retail, restaurant and office space in Argenta has been steady for the last few years and has significantly increased since the opening of the Arkansas Regional Innovation Hub and the completion of the Argenta Flats apartments,” noted Nabholz.
“Our problem in the past has been the lack of availability for businesses that were ready to occupy new space. With renovations completed, under construction and planned for eight historic buildings on Main and Maple streets, we are now able to start accommodating this pent up demand for space. Properties along the River Rail street car loop on Main and Maple streets are especially desirable, and announcements on future developments and new businesses in this corridor will be forthcoming in the next few months.”
Newmark Grubb Arkansas, with offices in North Little Rock and Bentonville, is a full-service commercial real estate operation, offering services including, but not limited to, tenant representation, landlord representation, real estate and economic consulting services, investment sales and capital markets, property and facilities management.
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