Thursday, August 9, 2012
Real estate 500 block of Main: Sold
Posted by Leslie Newell Peacock on Thu, Aug 9, 2012 at 3:20 PM
Portland, Ore., developer Scott Reed, whose K Lofts enterprise on 315 Main St. — the tenant is Porter's Jazz Club — got off to a rocky start but seems to have smoothed out, has made good on his promise to keep working downtown by buying the four buildings on the west side of Main between Capitol and Sixth Street.
Reed said his company, Reed Realty Advisors, closed on the deal today through Flake and Kelley realtors. He declined to say what he paid for the buildings — the Arkansas Building at the corner of 6th and Main, that building's pink granite annex to the north, the M.M. Cohn Building and the Boyle Building (originally known as the Arkansas Bank Building, Reed said). List prices for the buildings, which seller Tower Investments at one time intended to develop in phases as part of their Lafayette Square condominium project at 6th and Louisiana, were $900,000 for the Arkansas Building, $525,000 for the M.M. Cohn Building and $1.2 million for the Boyle Building.
Reed said the buildings would be developed with a focus on the arts. He had no timeline for beginning of construction.
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