Keller Williams Realty Affiliate Facing Suit

A Texas holding company filed a lawsuit last month in Washington County Circuit Court saying the local affiliate of Keller Williams Realty ran out on its lease at 2418 E. Joyce Blvd. and owes more than $221,000 in back rent and lease obligations.

Landlord CSMC 2007-C3 Joyce Boulevard LLC, of Irving, Texas, claims Keller Williams left without notice in June and didn’t pay rent for that month, or in July. The lease was supposed to run until Nov. 30, 2014, according to the suit.

Keller Williams actually moved to its new location at 1845 Main Dr. in Fayetteville in April, the same month CSMC bought the property from Investor’s Realty.

CSMC’s property manager, Flake and Kelly Northwest LLC, eventually realized Keller Williams had left the premises. After failed attempts to resolve the flap, the issue moved to court.

“We attempted to resolve this before we filed suit,” said Jeb Joyce, a Springdale attorney with Quattlebaum Grooms Tull and Burrow who represents CSMC.

In a letter dated July 22, 2013, the lawyer for Keller Williams, D. Westbrook Doss of Fayetteville, said his client would gladly turn over the keys and that the firm would be “willing to cooperate in any way to help release the property.”

In particular, Doss cited Arkansas law, saying pre-existing leases are terminated when ownership of the property changes hands. The original Keller Williams lease was with Investor’s Realty, not CSMC. Of course, CSMC is arguing that it inherited all the rights and guarantees of the Investor’s Realty leases.