Two Financial Centre at 10825 Financial Centre Parkway in west Little Rock sold for $11.3 million to local investment group Two Financial Centre Holding Co., the Kelley family and the Flake family.
The four-story office building is 124,904 SF and has a 33,088-SF underground parking garage. The property purchased is 3.83 acres, and the sale closed on Tuesday.
Two Financial Centre and its sister properties, One Financial Centre and Three Financial Centre, were built in the 1970s on pastureland by Financial Centre Corp. before other buildings like the Simmons Tower existed to dominate the city's skyline.
Flake & Kelley Commercial CEO Hank Kelley represented the buyers, and Jim Bendall of Two Financial Operating Associates represented the seller, Two Financial Operating Associates LP.
"This is, we think, a strategic location for central Arkansas…," Kelley told Arkansas Business. "For us, it's just further investment in Little Rock and our belief that we can take the property and, over time, improve it, and make it a class A building based upon its location."
He added that the location is good for an office complex not only because of nearby restaurants, hotels and hospitals but also because traffic has been moving smoothly through the new Big Rock Interchange.
Kelley also said the company's management team would work to increase the operational efficiency of the building, how it looks and modernize it but run it as a local owner receptive and responsive to tenants.