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Rock Creek Square Deal Totals $6.4 Million

1 min read

Precision Equity, a Tulsa real estate investment company, has paid $6.4 million for Rock Creek Square in Little Rock.

The 43,000-SF retail center at 12111 W. Markham St. is anchored by restaurants El Porton Mexican and Whole Hog Café along with a Mattress Firm store and has approximately 2,700 vacant SF.

Brian Shaw and T.J. Lefler of Sage Partners in Fayetteville represented the sellers, Cooper Realty Investments of Rogers. Cooper, a subsidiary of Cooper Communities Inc., led by John Cooper III, sold the property through its Barrington Rock Creek Ltd. Partnership.

The property was listed for sale at $6.3 million but proved to be popular with potential buyers.

Lefler said Cooper and Sage sorted through the offers and selected the best one with the highest probability of closing quickly.

It was only on the market for a couple of months, Lefler said.

“We had a lot of interest from the beginning,” Lefler said. “Sometimes they can sit on the market for six months. We had multiple offers.”

Precision Equity bought the property through its Rock Creek Square LLC. Precision Equity was founded in 2003 by Joel Thompson and Victor Whitmore and said on its website that it is a full-service real estate investment firm with more than $75 million in property assets. Precision Equity said it normally acquires underperforming multifamily properties and manages them.

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