Financial Park Place in Little Rock sold in $2.15M transaction

A multi-tenant office building at 11219 Financial Centre Parkway in Little Rock changed hands recently for $2.15 million.

Acadia Properties LLC, registered to Ali Raja, bought the three-story, 32,767-square-foot Financial Park Place building near the Interstate 630/430 interchange. The purchase price equals $65.61 per square foot.

The seller, Hermitage Development Corp., was represented in the investment sale by Clark Irwin at Colliers Arkansas. Reed Gibbons with RPM Group represented the buyer.

“This property obviously benefits from its excellent visibility from Financial Centre Parkway and its freeway access,” Irwin said in a statement. “In addition, the west Little Rock office market continues to perform well within the central Arkansas MSA, making this a good investment property for its new owners. Our firm was pleased to have had the opportunity to facilitate this sale.”

The building is approximately 75% occupied.