An 18,300-square-foot office building near the Arkansas River changed ownership in a real estate transaction that closed on May 18th.
Hundred One LLC acquired the building at 101 River Bluff Dr. in a $3.1 million purchase, according to Jeff Hathaway, president of Hathaway Group, and Daryl Peeples, president of Kelley Commercial Partners. Kelley Commercial represented the seller, Swan Harbor LLC, an investment group owned by Scott Trotter, Alan Perkins, Leon Catlett, Roxanne Catlett and Cori Catlett. Hathaway Group represented the buyer, an investment group owned by the firm’s four principals along with several clients.
Hathaway Group is now managing the property, which is fully leased. Motel Sleepers Inc. will continue leasing approximately one-third of the building, and the remaining 12,000 square feet has been leased by Hathaway to a firm that will take occupancy late in 2021 and will announce its relocation plans soon.
The Hathaway Group team on the Hundred One LLC side included Jeff Hathaway, Wes Martin and John Hathaway brokering the deal for the buyer group, while Stuart Mackey secured the new tenant. “We are big fans of Riverdale office space,” Martin said, adding that the submarket has one of the lowest vacancy rates in Central Arkansas.
The Kelley Commercial Partners team members representing Swan Harbor LLC were Hank Kelley, Daryl Peeples and Bill Puddephatt. “This was a great result for our seller clients, who had built the facility and enjoyed working in that beautiful waterscape facility for many years,” Kelley said.
