Four commercial buildings in the downtown North Little Rock arts district have been sold and plans exist to renovate the historical buildings for multi-use purposes.
7th Street LLC, led by John Chandler, purchased four buildings on the 700 block of Main Street and will be starting a major renovation of these buildings in the next few weeks, according to Chandler.
“The plans are mixed use with commercial store fronts consisting of office, retail and loft apartment space in the rear and upstairs. The building exteriors will be brought back to original historical facades. Interiors will be open loft spaces, each unique and one of a kind,” said Chandler.
Newmark Grubb Arkansas, led by Senior Managing Director Greg Nabholz and Principal, CEO and Executive Managing Director J. Fletcher Hanson III, have been named the exclusive leasing agency for the project.
Chandler recently completed 314 Main LLC – a major renovation of the 9,000 square-foot former Cornerstone building at 314-316 Main Street that was purchased in December 2014. The building is now 100% leased with Skinny J’s Restaurant occupying the first floor and Bourbon and Boots, an online retail store, establishing its headquarters on the second floor.
“The demand for retail, restaurant and office space in Argenta has been steady for the last few years and has significantly increased since the opening of the Arkansas Regional Innovation Hub and the completion of the Argenta Flats apartments,” said Nabholz, one of the early developers in the Argenta Arts and Innovation District.
“Our problem in the past has been the lack of availability for businesses that were ready to occupy new space. With renovations completed, under construction and planned for eight historic building on Main and Maple Street, we are now able to start accommodating this pent-up demand for space. Properties along the River Rail street car loop on Main and Maple streets are especially desirable, and announcements on future developments and new businesses in this corridor will be forthcoming in the next few months,” Nabholz said in a press release.