Village of Rahling sells to Flake family for $6.6 million

The Village of Rahling Road, a multitenant commercial property at 25 and 27 Rahling Circle in Little Rock, changed hands recently for $6.6 million. The purchase price equals $185.21 per square foot.

Jessica Flake Dearnley, the co-founder and CEO of Flake & Co. in Little Rock, announced the acquisition Wednesday (Nov. 9) in a news release.

Limited liability companies led by Little Rock commercial real estate developer John Flake and his family bought the buildings as tenants in common in an off-market transaction. The center is on the southeast corner of Chenal Parkway and Rahling Road.

The 35,960-square-foot property is fully leased. Tenants include O’Looney’s, Cinco de Mayo, Samu Sushi, YGBF Kitchen, Joe White & Associates and other professional offices.

According to the release, it’s the Flake family’s fourth acquisition in 2022.

“This is a non-replicable location with existing restaurant amenities and office floor plans that meet tenants’ needs post-pandemic,” Dearnley said in the release. “It used to be that if you are in the hotel business, you are in the restaurant business. Now that goes for professional office users. We find the Village ideal in that office users have convenience to their homes, restaurants on site, along with O’Looney’s with Chenal Promenade across the street.”

The seller was VARR West LLC represented by Nathan Hutchins with SVN/ArkBest Realty LLC. Relyance Bank of Pine Bluff provided financing.