A group led by the Keet family on Monday announced that it had acquired Breckenridge Village in Little Rock and plans to bring at least four restaurants to the shopping center as part of a redevelopment plan.
Financial terms were not disclosed.
The group, KBK-Breck LLC, includes Michael Bodnar of Nashville, whose Bodnar Investment Group Inc. partnered with the Keets' JTJ Restaurants LLC on Taziki's expansion in Arkansas. Bodnar and the Keets are also part of a venture to open up to 20 Waldo’s Chicken & Beer restaurants in Arkansas and Oklahoma.
Waldo's will "definitely" be one of the restaurants at Breckenridge Village, JTJ Restauarants Vice President of Marketing Stephanie Keet said. The other restaurants have not been named but the Keets will be involved "in some capacity" in all of them.
"The group intends to bring back the glory days of Breckenridge and revitalize it with a diverse combination of restaurants and other retail spaces," Jim Keet, chairman of JTJ Restaurants, said in the release.
The shopping center at 10301 N. Rodney Parham Rd. was built in 1980.
The Keet's multimillion-dollar redesign of the 8.9-acre property calls for new building exteriors, new landscaping and signage, and new entrances with distinct architectural features. A new courtyard with amphitheater-style seating is also planned.
The Regal UA Breckenridge movie theater will remain at the shopping center.
The ownership group also includes Dale "Bo" Briggs and The Kelley Group, led by Kelley Commercial Partners of Little Rock CEO Hank Kelley.
Kelley's I-430 LLC was the longtime owner of Breckenridge Village. Kelley Commercial Partners has managed the shopping center and will continue doing so.
"I'm excited to have the opportunity to invest with experienced restaurateurs that understand the food and entertainment business," Kelley said in the release. "They can help guide us in the redevelopment of this property. To serve the region, there is no better location in Central Arkansas than the 11 acres at the southeast corner of Rodney Parham and Interstate 430."