Crye-Leike Expanding Hot Springs Branch Office to Accommodate Growth

Little Rock, Ark. –  Crye-Leike, the nation’s 10th largest real estate company, has begun construction of a new state of the art facility for its Hot Springs branch office, a move accelerated by the office’s exponential growth over its first 10 months in operation.

Crye-Leike’s new Hot Springs office will be located on the most popular corridor of Hot Springs at 1428 Central Avenue or State Highway 7, approximately 1.5 miles south of Oaklawn Race Track. It will occupy 6,000 square feet of the 13,000 sq. ft. strip center being erected, accommodating up to 45 sales associates.

Crye-Leike is currently running sales operations at its 4760 Central Avenue location where they have already outgrown the space in less than a year since first opening its doors in November 2002.

“When we acquired Prudential Lakefront Real Estate last November, we had intentions to move the current office to a bigger location to increase our agent base, but never dreamed that the growth in our sales force and business would happen so quickly,” says Harold E. Crye, chief executive officer.

“You can say that our office is ?on fire,’ ” says Bob Benscoter, managing broker. “Over the past 10 months, we have recruited 36 sales associates, have over 200 listings and have generated a multi-million dollar business.”

Completion of the project is planned for March 2004. Company officials plan to lease the remaining 7,000 sq. ft. to real estate related businesses such as a mortgage company or title & escrow company, a deviation from current market trends for strip center tenants, says local sources.

Hill & Cox, Corporation is serving as the general contractor for the project and B & F Engineering is serving as the civil engineer. Financing is being provided by Alliance Bank. The total cost of the project is $ 1.5 million.

Crye-Leike of Arkansas, Inc. has 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 hub 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.

For assistance in your home buying or selling needs, or to join Crye-Leike’s sales team, call 501/321-0800.

 

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