Crye-Leike, Realtors Opening Office in North Little Rock

Little Rock, Ark. – The entrance into North Little Rock near the old Park Hill Shopping Center property is about to take on a new look. Chief Executive Officer Harold E. Crye of Crye-Leike, Realtors, the 10th largest real estate company in the nation, is finalizing plans to improve the shopping center’s appearance by opening its seventh branch office in the Greater Little Rock area.

Crye purchased Park Hill Shopping Center in June 2003 for $550,000 from Park Hill Baptist Church. The purchased property, located at 3400 John F. Kennedy Blvd., consists of two one-story buildings, totaling 20,500 square feet. The larger 16,500 sq. ft. building once housed a 1940 movie theatre that hasn’t shown movies since the 1970s.

Crye intends to renovate the main building with Crye-Leike starting temporary business operations in the smaller 4,000 sq. ft. building next month.

“The project will require extensive renovation work to the theatre building,” says Crye, “while utilizing existing structural components.”

Crye has named Andrew Hicks as architect, along with Bell-Corley Construction Company as the contractor.

Projected completion of the project is February 2004. Crye-Leike will move its North Little Rock operations into the larger building next door once it is completed. The new structure will be 12,098 sq. ft. Crye-Leike will occupy half the building, accommodating up to 45 Crye-Leike sales associates. The remaining 6,049 sq. ft., plus the smaller 4,000 sq. ft. building, will become available for lease.

Tim Dowty, project manager of Andrew Hicks Architect says that their firm did look at the possibility of restoring the existing theatre structure.

“The building’s architectural features, including the marquee and Art Deco detailing, had been removed long before Mr. Crye had purchased the property,” says Dowty. ” In addition, the shopping center had water damage, 30 percent termite infestation, Asbestos and a sloping theater floor (that could not be used for retail), all too costly to modify or remove. We concluded that it was wiser for our client to renovate the building.”

Tim Noonan, partner of Bell-Corley Construction Company, met with Sandra Taylor-Smith of the North Little Rock Historical Society where she confirmed that the property was not listed on the historical register.

“The city is spending hundreds of thousands of dollars to clean up the area. Our newly renovated buildings will be better looking and will be in keeping with what the city is doing,” says Crye. “We are working with the city on landscaping, curbing and new sidewalks for the property that will conform with their new look.”

The city’s streetscape proposal includes turn of the century lighting and landscaping to soften the harsh look of asphalt and concrete sidewalks.

For leasing information on this property, call Harold Crye at 901/756-8900.

With the addition of Crye-Leike’s North Little Rock branch office, Crye-Leike of Arkansas, Inc. will have 10 corporate and franchise offices in Arkansas and over 160 sales associates who market residential, commercial, investment property, farms and acreage sales in Craighead, Crittenden, Faulkner, Garland, Mississippi, Pulaski and Saline counties. Crye-Leike’s Arkansas regional headquarters is located in Little Rock with additional branch offices in Bryant, Conway, Hot Springs, Jonesboro, Maumelle, North Little Rock, West Little Rock, West Memphis and a franchise office in Blytheville.

Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation’s 10th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,500 sales associates and 68 branch and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida.  Crye-Leike attained sales of $ 3.17 billion and 22,198 closed transaction sides corporate wide in 2002.

 

 

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