Penchant for Pension
by May 12, 2003 12:00 am 110 views
The state’s largest pension fund has selected a new property manager for three of its Little Rock properties.
Arkansas Teacher Retirement System chose Irwin Saviers & Ballard LLC of Little Rock to manage its 45,000-SF headquarters at 1400 W. Third St.
The other two properties are a vacant, 56,000-SF former Harvest Foods location at 8001 Geyer Springs Road in southwest Little Rock and the 63,842-SF Arkla Plaza office project at 400 E. Capitol Ave. in downtown Little Rock.
The trio previously was managed by Flake & Kelley Management of Little Rock.
Flake & Kelley continues to manage the 260,187-SF Victory Building at 1401 W. Capitol Ave. for ATRS under a separate contract.
The final agreement between ATRS and Irwin Saviers & Ballard is expected to be inked soon.
You might recall that last year Flake & Kelley resigned as manager of two Little Rock office buildings owned by the state’s second-largest pension fund during a request for proposal process.
Arkansas Public Employees Retirement System ended up going with Presidio Commercial Services Ltd. of Dallas.