Stoic Equity Partners Acquires 65,000 Square Foot Flex Industrial Property in Little Rock, AR

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Sep 10, 2024, 08:37 ET

Daphne, Ala.-based commercial real estate investment firm expands its portfolio with the strategic acquisition of Parkwood Center in Little Rock's growing western corridor

DAPHNE, Ala., Sept. 10, 2024 /PRNewswire/ -- Stoic Equity Partners is pleased to announce the acquisition of Parkwood Center, a well-positioned flex industrial property located at 6801 W 12th Street in Little Rock, AR. This addition marks the firm's third investment in the Little Rock market, further solidifying Stoic's presence in the region. This acquisition increases Stoic's holdings to over 150K square feet owned in the market.

Stoic Equity Partners team based in Daphne, AL

Aerial view of Parkwood Center property in Little Rock, AR

Parkwood Center is a 65,000 square foot, multi-tenant industrial park featuring a diverse tenant mix. With suites ranging from 975 to 6,298 square feet, the property is uniquely designed to accommodate a wide variety of industrial and commercial users. The asset is situated in the midtown submarket, just four miles from downtown Little Rock, offering excellent connectivity via major throughways like I-630 and I-430.

"The Parkwood Center is our third acquisition in the Little Rock market, and we are excited to add this versatile flex industrial asset to our growing portfolio," said Jeremy Friedman, Co-Founder and CEO of Stoic Equity Partners. "The Little Rock market has been a solid performer for us, and we look forward to the continued success of this property."

The Parkwood Center is well positioned for Stoic to be able to perform renovations, allowing them to increase the in-place rents to market rates. This strategy will allow the investors in this asset to realize strong cash on cash during the hold period with a large IRR upon disposition.

Strategic Investment Attributes:

Location: Parkwood Center is ideally located in a growing area of Little Rock, just 0.25 miles from I-630 and 2 miles from I-430, ensuring easy access to key parts of the city.
Value Add Opportunity: With current rents approximately 26% below market rates, the property presents a prime opportunity to enhance value by bringing leases to market rates. Renovation plans are in place to further elevate the property's appeal.
Below Replacement Costs: The acquisition price is significantly below current replacement costs, positioning the property as a high-demand asset in a stable market.

Stoic Equity Partners continues to seek investors for this promising asset, offering a rare opportunity to participate in the success of a high-growth market.

About Stoic Equity Partners
Stoic Equity Partners is a Daphne, Ala.-based commercial real estate investment firm dedicated to value-add and opportunistic commercial real estate acquisitions and developments throughout the Southeast. Co-founders Jeremy Friedman and Grant Reaves leverage their extensive experience as commercial real estate brokers to manage and sponsor strategic investments.

For more information about Stoic Equity Partners and its approach to real estate investment, please visit stoicEP.com.

Media Contact
Jeremy Friedman
Co-founder and CEO, Stoic Equity Partners
Phone: 251-747-9111
Email: [email protected]

Address
2210 Main Street, Ste H
Daphne, AL 36526

SOURCE Stoic Equity Partners