New Lease signed at the ACHE Building in Fort Smith
Summit Utilities signed a 10-year lease to occupy 28,000 SF in Fort Smith
Little Rock, AR (July 25, 2022) — Moses Tucker Partners today announced the 28,000 square foot lease of office space with Arkansas Oklahoma Gas/Summit Utilities at the Arkansas Colleges of Health Education (ACHE) building in Fort Smith. Located at 1000 Fianna Way, the ACHE building is a class-A office headquarters located near I-540, which allows for easy access to all of Northwest Arkansas. Moses Tucker Partners represents the Landlord and serves as property management and leasing firm for the property. Ghan & Cooper represented the Tenant, AOG/Summit Utilities.
AOG/Summit Utilities have signed a 10-year lease term and will occupy ½ of the 5th floor in the building. Plans for improvements total around $1.5 - $2.0 million and occupancy is immediate to begin construction. Estimated completion is January 1, 2023.
“The Summit Utilities transaction represents a major win for ACHE and Fort Smith and cements the organization’s continued commitment to developing long term growth in Fort Smith and Arkansas” said Matthew Beachboard, Brokerage Director with Moses Tucker Partners.
“Moses Tucker is proud to associate with the great people of ACHE and with the leaders in the Ft Smith community. Kyle Parker and the team at ACHE are developing legacy projects that we believe will transform the region” said Paul Esterer, Principal and NWA Division President of Moses Tucker Partners.
There is approximately 47,430 square feet available for lease on the 3rd floor and 25,000 square feet remaining square feet for lease on the 5th floor. Eric Nelson, Kane Whitt and Matt Beachboard serve as the leasing agents for the property.
The ACHE purchased the property in 2020 and relocated the ACHE Biological Research Labs there, making it the largest research institution of any osteopathic school in the nation. An anonymous gift of $32.3 million was given to the ACHE in 2021 and will go towards the renovations of the colleges' Research Institute Health and Wellness Center and toward a variety of programs that will take place there, according to a news release from Susan Devero, a spokeswoman for the colleges. The initial phase of renovations is expected to be finished in December 2022, according to the news release. Kyle Parker, chief executive officer of the medical school, said in the release that the colleges started preparing for the project in 2017.
Plans for the facility include a community art gallery, art instruction for students and the community, an artist-in-residence program, applied arts, a ceramics lab with kiln, and a performing arts theater. There will also be multiple cooking stations, a mobility lab, a clinical trials clinic and a lab in which work such as biomedical research will be performed. Features outside the facility will include trails and a children's bike park.
About Moses Tucker Partners
Moses Tucker Partners is a full-service commercial, property management and development real estate operation, offering services including, but not limited to, tenant representation, landlord representation, real estate and economic consulting services, investment sales and capital markets, property and facilities management.
Moses Tucker Partners offers a full spectrum of real estate services for clients throughout Arkansas. The firm’s headquarters is in downtown Little Rock, with offices in Bentonville. Moses Tucker Partners is the second largest commercial brokerage and management firm in the state, with 8.2 million square feet of commercial space under management in Arkansas and approximately 100 employees among two offices. For more information visit www.mosestucker.com.
About Summit Utilities, Inc.
Summit Utilities, Inc. owns natural gas distribution and transmission subsidiaries that operate in Arkansas, Colorado, Maine, Missouri, Oklahoma, and Texas. The company provides safe, clean and affordable natural gas to businesses and residents in six states through Arkansas Oklahoma Gas, Colorado Natural Gas, Summit Natural Gas of Maine, Summit Natural Gas of Missouri, Summit Utilities of Arkansas, and Summit Utilities of Oklahoma. Each of Summit’s natural gas distribution and transmission subsidiaries constructs and installs natural gas distribution systems with the goal of supporting economic development by providing clean-burning, safe and reliable natural gas to residential and commercial customers through exceptional customer service and commitment to community. Overall, Summit entities serve approximately 625,000 customers and operate more than 23,400 miles of pipeline.
Arkansas Colleges of Health Education (ACHE) is a private, not-for-profit institution located on 542 acres in Fort Smith, Arkansas. ACHE’s first college, the Arkansas College of Osteopathic Medicine (ARCOM) graduated its inaugural class of 145 osteopathic medical students in May 2021. ACHE opened its second building and second national award-winning educational facility in January 2020. Two doctorate programs, ACHE School of Physical Therapy and the ACHE School of Occupational Therapy are located in the 66,000 square foot facility. Renovations are currently underway at the ACHE Research Institute Health & Wellness Center, a 317,000 square foot building where a variety of health and wellness programs will take place. ACHE is the first and only private institution in Arkansas that is dedicated solely to healthcare and wellness. For more information about the Arkansas Colleges of Health Education and our programs, visit www.achehealth.edu