One of the main players in Arkansas’ commercial real estate business topped a major milestone recently.
Colliers Arkansas, an affiliate of the global Colliers International Group Inc., now has 20 million square feet under management. Within that number are 2 million square feet managed in Northwest Arkansas, another milestone for the firm.
Denise Hanson, a company principal, executive vice president and director of property management for the firm, said the company managed approximately 19.3 million square feet at the end of 2021.
She said recent management contracts, including 4201 Shiloh Drive in Fayetteville, the 138,145-square-foot former Sears store in the Northwest Arkansas Mall, contributed to hitting the 20 million mark.
Colliers Arkansas executive vice president Alan Cole said Crunch Fitness (55,000 square feet) leases the building’s College Avenue facing side, the state leases about 20,000 square feet for the Department of Human Services and other services and J.B. Hunt Transport Services leases about 48,000 square feet in the rear of the property for office space.
Colliers Arkansas has offices in Little Rock and Rogers. Its management portfolio is comprised mostly of retail, office and industrial commercial properties. Flagship properties managed by Colliers in central Arkansas include Riverfront Plaza (the former Alltel campus), Westlake Corporate Park, Bowman Plaza I and II, Central Commerce Center, Trellis Square, and Brandon Square Industrial Park.
Other notable properties across Northwest Arkansas include the Center for Children’s Health and Wellness in Springdale, Frisco Station Mall, Glad warehouse and the Transplace office building in Rogers.
“Our firm’s foundation is built on our founder Dickson Flake’s core values of taking care of our clients first and foremost, then the needs of the firm,” said Kevin Huchingson, chairman and CEO. “This client-first philosophy has enabled us to service and maintain some great relationships and properties over the years. I’m proud of our team for achieving this milestone, and we’re thrilled to have the opportunity to work with so many valuable clients.”