KBK-Breck, LLC, purchased the local shopping center known as Breckenridge Village in west Little Rock and plan a multi-million dollar redevelopment, according to a press release made public on Monday (May 16).
The transaction on the property, located at 10301 N. Rodney Parham Road in Little Rock, closed on May 12, 2022.
The new ownership group includes commercial real estate firm The Kelley Group, the Keet Family, Dale V. “Bo” Briggs, the Bodnar Group out of Nashville, and others. Relyance Bank and First Financial Bank provided the financing for the acquisition.
“Relyance Bank, along with Chris Johnson and First Financial Bank, is proud to partner with the Keet family and other group members on this exciting new venture. The new development plans of Breckenridge Village will most certainly add to and strengthen the ongoing revitalization of the Rodney Parham corridor,” said David Straessle, President of Relyance Bank.
The Kelley Group will be the property manager for the center. According to the release, the project will entail a “multi-million dollar renovation that will make Breckenridge one of the most unique and desirable destinations in the state.”
The future name and tenants will be unveiled at a later date, the release said.
“The group intends to bring back the glory days of Breckenridge and revitalize it with a diverse combination of restaurants and other retail spaces,” said Jim Keet, chairman of JTJ Restaurants, LLC. “At least four restaurants with various cuisines will be a part of the new plan for the center.”
JTJ Restaurants owns Taziki’s, Waldo’s Chicken & Beer, Cypress Social and Petit & Keet.
Engineering, redesign, and landscaping plans are already in the works, the group said. There are plans to redo the exterior, add new landscaping and signage, and feature new entrances with distinct architectural features. The design will feature a new courtyard with amphitheater-style seating.
“I’m excited to have the opportunity to invest with experienced restaurateurs that understand the food and entertainment business. They can help guide us in the redevelopment of this property,” said Hank Kelley of The Kelley Group. “To serve the region, there is no better location in Central Arkansas than the 11 acres at the southeast corner of Rodney Parham and Interstate 430.”