by Gwen Moritz
Posted 8/18/2003 04:46 pm
Updated 11 months ago
Neither the building's management, Flake & Kelley Commercial, nor Metropolitan officials have confirmed the development. But John Flake, chairman of Flake & Kelley Commercial, on Monday sent an e-mail inviting a number of "Fellow Central Arkansas Business Leaders" to an announcement at 10:30 a.m. Tuesday of an "event of great significance." The announcement will be held in the lobby of the TCBY building.
The precise name of the new building could not be confirmed, and it is unclear whether Metropolitan is buying an ownership interest in the state's tallest building.
Metropolitan National has long been headquartered in the Stephens Building at 111 Center St. That building was originally known as the Rogers Building in honor of its developer, Batesville business legend Doyle Rogers — who is chairman of Metropolitan National.
TCBY, the yogurt retailer founded in Little Rock, has been paying rent on 60,000 SF in the TCBY building throughout the three and half years since the company was sold to Capricorn Investors III of Stamford, Conn., a principal shareholder of Mrs. Fields Holdings Inc. The lease included the right to have the TCBY name on the top of the building.
Jeff Yates, vice president of Flake & Kelley, in March told Arkansas Business that "the landlord is actively seeking a replacement for TCBY," whose lease wouldn't expire for about two years.
Arkansasbusiness.com will update this story Tuesday.