Top 5 Commercial Property Managers Stay Put; 'Cautious Optimism' Seen

by George Waldon  on Monday, Aug. 9, 2010 12:00 am  

The changes were few and far between among the largest commercial property management firms in Arkansas.

(Click here to see the list of the largest commercial property management firms.  A spreadsheet copy of the list is also available.)

The top five remained the same with Little Rock's Colliers International at No. 1 with more than 10.8 million SF under management, up from 10.4 million SF last year.

Flake & Kelley Commercial of Little Rock, at No. 2, dropped from nearly 6.5 million SF last year to 5.8 million. The Ashley Co. of North Little Rock, at No. 3, increased slightly from more than 2.8 million SF to 2.9 million SF.

Cooper Realty Investments of Rogers, No. 4 with 2.1 million SF, and MBC Holdings of Jonesboro, No. 5 with 1.5 million SF, both held steady.

Moses Tucker Real Estate, jumped to No. 6 with nearly 1.5 million SF. The Little Rock firm ranked No. 10, with 1.1 million SF last year.

Coldwell Bank Commercial Hathaway Group, No. 8, grew to 1.3 million SF from 1 million SF and No. 13 last year.


Market Holding Up
John Hathaway of Coldwell Banker Commercial Hathaway Group said a sense of cautious optimism is common regarding the state of the office market.

"I feel good about the status of it," Hathaway said. "Our marketplace has held up fairly well compared to markets across the country, especially on the coasts.

"We haven't seen a drop in rentals like other markets have reported. I'm starting to see people moving and doing some things after a lull that began in late 2008."

Grubb & Ellis/Solomon Partners of North Little Rock, No. 18, reported 481,000 SF this year, down from more than 1.1 million SF last year.

"We sold a bunch of stuff," said Fletcher Hanson of Grubb & Ellis/Solomon Partners.

Hart Lazenby Commercial of Little Rock, No. 21, decreased from more than 580,000 SF to more than 320,000 SF.

"Things are picking up a little bit," said Todd Hart, partner at Little Rock's Hart Lazenby Commercial. "Activity is definitely improved. In fact, I would say that just in the first three months of 2010, I've had more inquiries about our available space than during all of 2009."

NAI Halsey Commercial Real Estate Service Worldwide of Jonesboro, No. 25, declined from more than 314,000 SF last year to nearly 180,000 SF.

The roster of commercial property management firms holding steady includes Irwin Saviers Ballard LLC of Little Rock, 1.3 million SF; R.H. Ghan Commercial Properties of Fort Smith, with 1.2 million SF; Covington Properties of Conway, with 1.1 million SF; General Properties of North Little Rock, more than 1 million SF; Cypress Properties of Little Rock, more than 1 million SF; RPM Management Co. of Little Rock, more than 900,000 SF; and Schickel Development Co. of Little Rock, more than 700,000 SF.

Rounding out the list of firms not yielding ground are Dalrymple Commercial of Searcy, more than 600,000 SF; Management Realty of Fayetteville, more than 560,000 SF; Blissard Management & Realty of Little Rock, more than 563,000 SF; Stephens Real Estate of Little Rock, more than 420,000 SF; Sperry Van Ness/Chandler Tucker Powell Group of North Little Rock, 415,000 SF; Portfolio Property Management of Rogers, more than 300,000 SF; Little Rock Medical Associates Ltd. of Little Rock, 287,000 SF; and Financial Centre Management of Little Rock, 192,500 SF.



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