The Arkansas Capital Commerce Center in Little Rock has been sold.
Newmark Moses Tucker Partners (NMTP) announced that the structure, located at 200 River Market Ave. in downtown Little Rock, had been purchased by Rodney Parham CK, LLC and Broadway CK, LLC. The seller was 3rd & Commerce LLC, a company led by Jimmy Moses and Rett Tucker.
According to a NMTP release, the purchasing groups consist of “several in state investors who acquired the asset in conjunction with a 1031 exchange requirement.” Newmark Moses Tucker Partners president and CEO Chris Moses is listed as both the registered agent and manager for Parham CK, LLC and Broadway CK, LLC on the Arkansas Secretary of State’s website.
The 3rd& Commerce LLC group oversaw the land assemblage and development of the property in 2002, with NMTP providing management and leasing services for the property. The company will continue to provide these services for the new owners.
“This property means so much to me, as it was developed by my father and Rett over 20 years ago, and was a catalyst for several other significant real estate developments within the River Market District.”, Chris Moses said in a statement.
The terms of the transaction were undisclosed, but the property was reportedly sold for $8.5 million, according to an Arkansas Times report.