Posted 10/7/2013 12:00 am
Updated 9 months ago
Did you know that Building 5 on the former Alltel campus in Little Rock sold for $12 million last week?
We understand that the local investment group that bought the approximately 225,000-SF space was Allied Drive Holdings LLC. Allied Drive is composed of several entities representing more than a dozen individuals, including the LaFrance brothers, Stephen Jr. and Jason; and the Middleton brothers, Larry and Mark.
Allied Drive also owns Buildings 1, 2 and 3 of Riverfront Plaza, which was purchased in December 2011. Verizon Wireless is in Building 4 at the campus.
In the last 18 months, approximately 75,000 SF in Buildings 1, 2 and 3 has been leased “with plans in the works for several more,” Isaac Smith, principal and executive vice president of Colliers International in Arkansas, said in an email to Whispers.
He said the amenities, river views and free parking are attractive points to potential tenants.