Crye-Leike Buys Hot Springs Real Estate Firm

Crye-Leike, a real estate company with offices in Little Rock, Jonesboro, West Memphis and Blytheville, said last week that it has purchased Prudential Lakefront Real Estate in Hot Springs.

 

Terms of the deal were not disclosed. Crye-Leike, which said it is the national’s 13th-largest real estate company, said the move is the first of many planned for central Arkansas.

 

Lakefront Real Estate opened in 1994 and became affiliated with Prudential in 1996. Founders Jack and Nedra Plumlee and the current sales staff will continue with the firm, Crye-Leike said.

 

Meanwhile, Bob Benscoter, a former Crye-Leike salesman from Memphis who now lives in Hot Springs, has been named managing broker to oversee the Hot Springs office, now at 4760 Central Ave. Crye-Leike said it eventually will move the office to another location, possibly at 1428 Central Ave., formerly a Shoney’s restaurant, which can accommodate 45 employees.

 

In June 2002, Crye-Leike expanded its regional operations into Little Rock. CEO Harold E. Crye said he plans to establish seven branch offices surrounding metropolitan Little Rock during the next three years.

 

Crye-Leike, with more than 2,300 sales employees, reported sales of $2.95 billion in 2001.