Two Little Rock commercial real estate companies are merging and will operate as Flake & Company starting Nov. 1.
Flake announced Thursday that it will merge with ARK Commercial & Investment Real Estate. ARK, owned by Jeff Yates, represents properties such as the Doctor’s Building on South University Avenue and Plaza West at the corner of North McKinley Street and North University Avenue.
“Jeff’s experience and expertise are unparalleled,” said Jessica Flake Darnley, founder of Flake & Company and daughter of longtime commercial real estate investor John Flake. “Our collective skill set is unmatched in this market. This is my dream team.”
Flake & Co. manages more than 1 million square feet of commercial space. The company’s real estate includes the Pavilion in the Park on Cantrell Road, which was purchased last year when the company’s total sales were his $87.5 million. The retail center damaged by the March 31st tornado is being repaired.
Yates founded ARK Commercial in 2013 and has 30 years of experience helping clients with their commercial real estate needs. He has held numerous assignments as a national tenant representative over the years.
The combined companies will have a portfolio that includes the Doctors Building, Midtown Medical Center, Ortho Arkansas, Pediatric Clinic, Canis Medical Plaza and the Blandford Building in St. Vincent.
“This merger brings together the best talent in development, investment and leasing,” Yates said. “This will expand the combined company’s national footprint and create additional statewide and regional development projects and investments in the healthcare sector. Flake & Co.’s Formidable Portfolio will benefit investors and occupiers, along with national relationships and statewide expertise.”
John Flake has been one of central Arkansas’ leading commercial real estate developers for nearly 50 years. He was instrumental in the development of several corporate office complexes in Arkansas, including Simmons Tower, Fairfield Communities, Beverly Enterprises, and Axiom Plaza. His client portfolio includes Baptist Health, CenterPoint Energy, Walmart Inc., Dillard’s, Verizon, Acxiom, Entergy, and Arkansas Electric Cooperative.
John Flake, who said the merger would bring together two of the area’s real estate giants, said he has known Yates for 30 years.
“Jeff is clearly one of the leaders in the commercial real estate sector in Arkansas because he has invested in building long-term, trusted relationships with his clients,” Flake said. “I look forward to seeing what we can accomplish together.”