McLoud & Co. Opens Lowell Office

McLoud & Co. LLC
Owner: Tom McLoud
Address: 506 Enterprise Drive, Suite 100-A, Lowell 72745
Phone: 501-770-4200
Hours: 8 a.m.-5 p.m. Monday-Friday
Start-up date: Nov. 15
Internet address: www.mcloud.net

The sparkle of prosperity in Northwest Arkansas convinced Tom McLoud that he should open a Lowell location of his commercial real estate operation, McLoud & Co..

A graduate of the University of Arkansas, McLoud watched the area grow while he developed his real estate resume in other parts of the nation.

McLoud & Co., which now has a staff of nine, was founded in 1992 in Springfield, Mo. The Lowell satellite location was launched with one staff member, Adam Laney, on the roster as a property manager and leasing agent.

McLoud visits the 700-SF satellite office about once a week to help prime the business. He said initial costs to open the office topped $50,000.

Already, the owner of McLoud & Co. has plans to move the office within one year. Next door to the current office, contractors recently broke ground on a new building, of which about 1,200 SF will become McLoud & Co.’s new space. McLoud plans to lease out and manage the rest of the building.

Potential clients for the commercial brokers include owners of shopping centers, office buildings and undeveloped property, McLoud said.

“We spend every day of the week pursuing clients,” McLoud said.

One advantage that McLoud & Co. has over some other similar operations, McLoud said, is that his company focuses solely on commercial real estate work.

Almost 20 years of field experience supports McLoud’s venture, including real estate management positions with Wal-Mart Stores Inc. and Hy-Vee, an Iowa-based grocery chain.