Little Rock has purchased a downtown office building for $2.59 million.
The building at 525 W. Capitol Ave. will be the new home of the city’s district courts. Funding for the acquisition was provided by a 2022 bond issue. City directors approved the purchase in October.
The two-story, 39,306-SF building was built in 1960. It was originally a Coca-Cola bottling facility. Most recently, the building was an Arkansas Department of Career Education office.
Colliers Arkansas announced Tuesday that the transaction had closed. The deal includes an adjacent parking lot at 600 W. 6th St.
The sellers were KDHLP 525 LLC and SLFJR 525 LLC. They were represented by Kevin Huchingson, Lee Strother and Bill Pendergist of Colliers.
The city was represented by Brandon Sheard and Hank Kelley of Kelley Commercial Partners.
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