Moses Tucker Real Estate announced today, Nov. 6, the sale of the brand new MacArthur Commons apartment complex for $10.5 million.
Located at 414 E. Capitol Ave. in the River Market District of downtown Little Rock and previously the site of the former Arkla Gas Headquarters, MacArthur Commons is the first new downtown residential complex to be built in Little Rock in over three decades.
The new owner is MacArthur Commons LLC, led by David R Thompson. The buyer was represented by Chris Moses, president, and Eric Nelson, senior commercial broker of Moses Tucker Real Estate. The seller of the transaction was RMS, LLC and was represented by Chris Moses.
Jimmy Moses, chairman, and Jamie Moses, director of development, both of Moses Tucker Real Estate, were the original developers of the property. Central Construction Group of Little Rock were the contractors for the property.
Moses Tucker Real Estate is the current property manager and leasing agent of the property.
Chris Moses of Moses Tucker said, “This is just another great example of the continued interest and investment in downtown Little Rock. This development has been a great success. We completed the project in September and it is already 97 percent occupied. We anticipate many more successful developments in the upcoming years.”
The 59-unit, three-story building provides an upscale, yet affordable option to residents looking to live in a vibrant downtown community. The contemporary design offers amenities such as street-lined porches, large balconies, a swimming pool, a fitness facility and landscaping.
Moses Tucker expects to complete the 36-unit Legion Village mixed-use development across the street in May 2016.