The seven-story Arkansas Capital Commerce Center at 200 River Market Avenue, one of the earlier developments in the River Market neighborhood, has been sold for $8.5 million.

The Third and Commerce LLC, led by Rett Tucker and Jimmy Moses who developed the property, sold the property to two LLCs, Rodney Parham CK and Broadway CK in what was described as a 1031 exchange, a swap of properties that allows deferral of capital gains taxes.

Advertisement

The property includes 50,000 square feet in the building (a portion of the building was sold to tenants in a horizontal property regime, but the sale includes all the commercial space on floors 1-5 and an adjacent parking deck). Newmark Moses Tucker Partners announced the sale and will continue to manage the property.

Press release here.

Advertisement

 

 

Advertisement