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Friday, August 31, 2012

Site proposals pour in for tech park

Posted By on Fri, Aug 31, 2012 at 4:31 PM

The non-profit University District Development Corp. headed by Ron Copeland and Flake & Kelley Commercial today proposed an alternative to the residential sites first considered by the Little Rock Technology Park Authority that includes 84.37 acres just south of the University of Arkansas at Little Rock campus, of which 14 acres is available for immediate development. The site includes the Village Shopping Center (which could be used immediately), the Rush property south of the shopping center, the Coleman Dairy property and Good Old Days Foods Inc. property on South Polk Street. The proposal was accompanied by letters of support from the Meadowcliff/Brookwood Neighborhood Association and the University District Neighborhoods Association. No purchase price was included in the documents provided to the Times by Authority board member Jay Chesshir.

Moses Tucker Real Estate has also formally submitted its proposal for 10-plus acres downtown east of I-30 and south of Heifer International. At $12 per square foot, that works out to about $5.2 million.

A building on the Alltel campus — a site that Dan Rahn, chancellor of park partner the University of Arkansas for Medical Sciences, thought suitable — is being proposed by Colliers International. Building 2 is a 7-story, 90,247-square-foot office building that leases between $16.50 and $18.75 a square foot; the proposal, as yet incomplete, likely envisions a sale rather than a lease.

Colliers, by the way, is where board member Dickson Flake is employed.

Today was the deadline set by the Authority for the submission of proposed sites for the park, though proposals postmarked today but arriving later will be considered as well, Chesshir said. Nineteen (not counting a one for property that's not for sale) proposals have been received by my count, which at this time of day is iffy indeed.

In addition to the UDDC and downtown sites, the proposals received by the Authority now include:

29.18 acres at 901 Bond St., offered by Colliers for $1 a square foot or $1.2 million.

66 acres near I-430 and Col. Glenn Road, north of Clear Channel Metroplex, offered by Colliers for $3.5 million.

39.23 acres at 25616 Hwy. 10, offered by Kevin Huchingson for Rick and Deanna Ferguson for $3 a square foot, or $5.1 million.

16.8 acres on South Shackleford Road offered by RPM at $3.50 per square foot, or $2.5 million.

37 acres on John Barrow Road and I-630, offered by Coldwell Banker Commercial (no price quoted).

12.2 acres off University on Kramer Street, southwest of the intersection of University and Asher, offered by Coldwell Banker at $350,000.

30 acres on John Barrow Road, across the street from the Sid McMath Library, offered by Pam Brown Courtney (no price quoted).

Moon Distributing property at I-30 and Roosevelt, suggested by a third party (property not for sale).

44.5 acres in the Gateway Town Center at the I-430/I-30 interchange, where Bass Pro Shops will be located, offered by Town Center LLC, represented by Thomas Hodges, for $5.7 million.

41 acres between Wright Avenue on the north, Roosevelt Road on the south, Cross Street on the east and Dr. Martin Luther King Street on the west, which include 133 "housing units," 42 percent of which are vacant, offered by the Roosevelt/Wright Corridor Planning Group (Grover Richardson, Vincent Kountz and Pamela Adams, no price quoted).

32-plus acres on Stagecoach Road at the Hwy. 5 exit, offered by Lewis Realty and Associates for $1.25 million.

40 acres on Leander Road with access from Kanis Road and other streets, offered by Coldwell Banker Commercial for $2.54 million.

Up to 60 acres at the Village at Brodie Creek at the northwest corner of I-430 and Col. Glenn Road, offered by Flake & Kelley for $9.75 a square foot or at a negotiable price as is.

43.1 acres on Chenal Parkway and Chenal Valley Drive (Tract 3), offered by Deltic Timber Corp. at $15 per square foot or $28 million.

33 acres south of 36th street along South Shackleford Road, between Old Pine Street on the west and Calvary Nazarene Church on the east, offered by Crye-Leike for $3.3 million.

36 acres at the northwest corner of I-430 and Hwy. 10 (aka "the Harvey Property") offered by Bonnie Harvey represented by Marvin Jones (no price quoted).

6,300 square feet at 5507 Asher Ave. for $40, offered by Al Johnson. The property is just east of UALR housing on Asher.



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