The Market Place Shopping Center at 11121 North Rodney Parham Road in Little Rock has changed hands in a $12.6 million deal.
The buyer of the property is Market Place Shopping Center, LLC of Little Rock, which is represented by Thomas Schmidt of Flake and Company. The purchase is financed through a loan from Simmons Bank.
The shopping center is anchored by Starbucks, Akel’s Carpet One and Jones & Son. For reference, it is the location of the former Franke’s Cafeteria.
Schmidt, Partner/Co-Founder at Flake & Company, said the location is ideal for new tenants who wish to be in heart of Little Rock’s retail district.
“There are approximately 37,000 vehicles that drive through the North Rodney Parham and Shackleford interaction on a daily basis, and there is easy access to Interstate 430,” Schmidt said. “We are already interviewing possible new tenants for the few spaces that are currently available at this great historic retail center.”
Suites range in size from 1,600 to 10,000 square feet. Flake & Company will manage the property.
The seller is Market Place Partnership, which was represented by Kevin Huchingson and Mason Lewis of Colliers International.