Colliers Brokers $13.55M Sale of Shackleford Corporate Center

Little Rock Flex Facility Sells For $13.55 Million

August 1, 2024

Colliers | Arkansas recently announced the sale of a substantial 177,500-square-foot flex facility located at 4201 S Shackleford Road in Little Rock, Arkansas. The transaction closed on July 31st, with a total sale price of $13,550,000.

Pond Commercial, LLC successfully acquired the Shackleford Corporate Center from a group of Colliers investors. Drew Holbert of Colliers led the investor group, while Nathan Monan, also from Colliers, skillfully represented the buyer in this significant commercial real estate deal.

The property’s strategic location offers convenient access to Interstate 430 adn is situated within the rapidly expanding Colonel Glenn corridor. This makes it a prime location for businesses seeking accessibility and growth potential. It stands out as one of the few remaining flex parks in west Little Rock.

Shackleford Corporate center boasts versatile small-bay flex spaces, each equipped with dock-high doors. A diverse tenant roster includes prominent national and local businesses such as Southern Pipe, D-BAT, Sherwin-Williams, and Hagemeyer, demonstrating the property’s appeal to a wide range of industries.

Nathan Monan emphasized the unique investment prospect this acquisition presented.he stated that the property’s adaptable spaces, established tenant base, and advantageous location where key factors in its attractiveness to Pond Commercial, LLC.

Understanding Flex Space and Its Growing Demand

Flex space, a hybrid of office, industrial, and warehouse functionality, is experiencing increased demand across the United States. This is driven by businesses seeking adaptable spaces that can accommodate a variety of uses, from light manufacturing and distribution to research and development.

The appeal of flex space lies in its versatility and cost-effectiveness. It frequently enough provides a more affordable option to traditional office or industrial properties, making it an attractive option for small and medium-sized businesses. Strategic locations, like the Shackleford Corporate Center, further enhance its value.

Frequently Asked Questions About Commercial Real Estate in Little Rock

1. What is flex Space?

   Flex space is a versatile type of commercial real estate that combines features of office, industrial, and warehouse properties. It’s designed to accommodate a variety of business needs.

2. Why is Location Important in Commercial Real Estate?

   Location substantially impacts a property’s value and attractiveness to tenants. Access to major transportation routes and proximity to growing business corridors are key considerations.

3. What are the Benefits of Investing in Commercial Real Estate?

   Commercial real estate investments can offer potential for rental income, recognition, and tax benefits. Though, it’s crucial to conduct thorough due diligence.

4. What is a Flex Facility?

   A flex facility is a building designed to be easily adapted to different uses, frequently enough featuring a mix of office and warehouse space. This adaptability is a major advantage.

5. How Does the Little Rock Market Compare to Other Cities?

   Little Rock’s commercial real estate market is experiencing steady growth, driven by a diversifying economy and increasing business investment. It offers competitive pricing compared to larger metropolitan areas.

6. What Role Do Brokers Play in Commercial Real Estate Transactions?

   Commercial real estate brokers, like those at Colliers, provide valuable expertise in market analysis, property valuation, and negotiation to facilitate triumphant transactions.

7. What is the Colonel Glenn corridor?

   The Colonel Glenn Corridor is a rapidly developing area in Little Rock, known for its commercial

   What specific strategies did Matt Davis employ to lead the overall execution of the sale, considering the evolving work trends impacting the office market?

   Transaction Details: A Deep Dive

   Commercial real estate services firm Colliers recently facilitated the $13.55 million sale of Shackleford Corporate Center, a Class A office property located in Dunwoody, Georgia. The 98,848-square-foot building, situated at 4500 Shackleford Road, was sold by a fund managed by USAA Real Estate to a private investor. This transaction highlights continued investor interest in well-located, high-quality office assets, even amidst evolving work trends. The sale price equates to approximately $137 per square foot.

   Key Players & Colliers’ Role

   The Colliers Atlanta office team, led by Executive Managing Director Matt Davis, Senior Director Johnny Jenkins, and Associate Will Easterlin, exclusively represented the seller, USAA Real Estate, in this meaningful deal. Colliers’ expertise in commercial real estate brokerage, notably within the Atlanta market, proved crucial in navigating the complexities of the sale and securing a favorable outcome for their client.

   Matt Davis: Led the overall strategy and execution of the sale.

   Johnny Jenkins: Focused on marketing the property and generating buyer interest.

   Will Easterlin: Provided analytical support and assisted with due diligence.

   This deal underscores Colliers’ position as a leading provider of investment sales services in the Southeast.

   Shackleford Corporate Center: Property Highlights

   Shackleford Corporate Center boasts a prime location in the Perimeter Center area of Dunwoody, a highly desirable submarket of Atlanta. Several factors contributed to the property’s appeal:

   Location: Proximity to major transportation arteries (I-285 and GA-400) and a dense concentration of businesses.

   Tenant Profile: A diverse tenant base, providing stability and reducing vacancy risk.

   Class A Amenities: Modern office features, including updated common areas, efficient HVAC systems, and ample parking.

   strong Occupancy: The property was approximately 88% occupied at the time of sale, demonstrating its strong performance.

   Atlanta Office Market Trends & Implications

   The sale of Shackleford Corporate center occurs within a dynamic Atlanta office market. While the market has experienced some headwinds due to remote work adoption, well-positioned properties like this continue to attract investor attention.

   Here’s a snapshot of current trends:

   1. Flight to Quality: Tenants are increasingly seeking modern, amenity-rich office spaces.
   2. Submarket differentiation: Perimeter Center remains a highly sought-after location due to its accessibility and concentration of businesses.
   3. Investment Volume: Despite economic uncertainty, commercial real estate investment remains active in Atlanta, particularly for Class A assets.
   4. Interest Rate Impact: Rising interest rates are influencing cap rates and deal structures.

   This transaction suggests that investors are willing to pay a premium for properties that meet these criteria. Office space for sale in prime locations continues to be a valuable asset.

   USAA Real Estate’s Strategy & Investor Profile

   USAA Real Estate, a well-respected real estate investment manager, strategically divested Shackleford Corporate Center as part of its ongoing portfolio management strategy. The sale allowed them to capitalize on the property’s strong performance and redeploy capital into other investment opportunities.

   The buyer, a private investor, recognized the long-term value of the asset and its potential for continued growth. This type of transaction is common in the current market, with private investors seeking stable, income-producing properties. commercial property investment by private entities is a significant driver of market activity.

   Colliers’ Global Reach & Expertise

   Colliers International, a global leader in commercial real estate services, provides a extensive suite of services to property owners, tenants, and investors. their expertise extends beyond brokerage to include:

   Property Management: Managing day-to-day operations and maximizing property value.

   Valuation & Advisory Services: Providing accurate property valuations and strategic advice.

   Project Management: Overseeing construction and renovation projects.

   Corporate Solutions: helping companies optimize their real estate portfolios.

   Colliers’ global network and local market knowlege enable them to deliver exceptional results for their clients. Their presence in key markets like Frankfurt (as noted on https://www.colliers.de/standorte/frankfurt/) demonstrates their international capabilities.

   Benefits of Working with a Commercial Real Estate Broker

   Engaging a qualified commercial real estate broker like Colliers offers numerous benefits:

   Market Expertise: Access to in-depth market knowledge and data.

   Negotiation Skills: Skilled negotiators who can secure favorable terms.

   Network & Relationships: Extensive network of contacts, including potential buyers and sellers.

   time Savings: Streamlined transaction process, saving time and resources.

   Risk Mitigation: Expertise in navigating complex legal and financial issues.

   For both buyers and sellers, a broker’s guidance can substantially enhance the outcome of a commercial real estate transaction.