LR coffeehouse set
for second location
A Little Rock coffeehouse is expanding into a second location in Little Rock's River Market as part of a members-only co-working space with Remolinos Group.
The Stoko co-working space, offering multiple office amenities, will be adjacent to Fidel & Co., a coffee shop and roaster that will maintain its initial operations on East Sixth Street in Little Rock. The initiative will occupy the first floor of 610 President Clinton Ave. and plans to open this summer.
Stoko will sell monthly memberships and daily passes that will grant access to conference rooms, a fully equipped podcast room, private phone booths, printing and mailing services, covered parking spots and a stocked kitchen. Desks and private offices also will be available.
Fidel & Co.'s coffee shop will be available to the public and Stoko members.
"We have loved serving our neighbors at our East Village location and are excited to venture into downtown as we open our second location," says Fidel Samour, owner of Fidel & Co. "Being nestled inside a co-working space is a unique opportunity to connect with our customers on a deeper level and to build long-lasting relationships."
-- Andrew Moreau
Apartment complex
sold for $14.9M
The Landings at Rock Creek, a 154-unit apartment complex at 13200 Chenal Parkway in west Little Rock, has sold for $14.9 million.
The buyer is The Landings United LLC, a unit of FM Capital, a New York commercial real investment firm with offices, among other places, in Hollywood, Fla.
C&W The Landings Apartments LLC and Woodcock Realty Holdings LLC of Midland, Texas, were the sellers. They acquired the 7.4-acre development in February 2019 for $10.5 million.
The complex, which includes a clubhouse and fitness center, was built in 1983.
FM Capital manages roughly $500 million in multifamily, retail, office, industrial and development properties across the United States. Its website lists no other Arkansas properties in its portfolio.
-- Noel Oman
Arkansas Index rises
13.38, ends 800.50
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 800.50, up 13.38.
The S&P 500, the Dow Jones Industrial Average and the Nasdaq all rose Tuesday. The Federal Reserve is expected to raise its benchmark rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high. Banks and other financial stocks helped lift the market.
Shares of USA Truck rose 9.6% to lead the index. Dillard's shares rose 3.5%. Shares of Tyson Foods fell 3%.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.