Stoic Acquires Third Arkansas Investment Property

Stoic Equity Partners, headquartered in Daphne, has announced the acquisition of Parkwood Center, a flex industrial property located at 6801 West 12th Street in Little Rock, Arkansas. This addition marks the firm’s third investment in the Little Rock market and increases its holdings to more than 150,000 ft² owned in the market. Parkwood Center is a 65,000-ft², diverse-tenant industrial park. With suites ranging from 975 to 6,298 ft², the property is designed to accommodate a variety of industrial and commercial users. It is situated in the Midtown submarket, just 4 mi. from downtown Little Rock, and is near major throughways like Interstates 630 and 430. “The Parkwood Center is well-positioned for Stoic to be able to perform renovations, allowing them to increase the in-place rents to market rates. This strategy will allow the investors in this asset to realize strong cash on cash during the hold period with a large IRR [internal rate of return] upon disposition,” according to a press release. Stoic continues to seek property investors.