Skip to main content Skip to footer

Pair of County Human Services Offices Sold

DHS Building_Hero

West Memphis and Texarkana Buildings Have Sold

Two buildings that house county offices of the Arkansas Department of Human Services have been sold for an undisclosed amount to a private equity investor in Chicago. 

Colliers International’s Capital Markets Team facilitated the sale; the seller was the Arkansas Teacher Retirement System.

The first building is a 25,000-SF single-tenant office on 6.2 acres at 3809 Airport Plaza Drive in Texarkana. It serves as DHS' Miller County branch office.

The second building is a 26,268-SF single-tenant office on 4.82 acres at 401 S. Airport Drive in West Memphis, housing the agency's Crittenden County office.

Both properties were built in 2001 for the Arkansas DHS, the state’s largest agency with more than 7,500 employees.

“With both assets 100% occupied and purpose-built for the DHS mission, the investment offered attractive returns with a premium credit tenant committed to these locations long-term,” Zack Ficke, vice president for Colliers International, said in a news release. “Arkansas legislature requires DHS to provide a physical location in each of the 75 counties across the state for its constituents underscoring the critical nature of this agency and these locations.”

Drew Holbert, Kevin Huchingson and Issac Smith in Colliers’ Little Rock office represented the seller. Geoff Ficke and Zack Ficke with Colliers’ Dallas office represented the buyer. 

Read the article by Arkansas Business


Related Experts

Geoff Ficke

Executive Vice President

Dallas

Geoff Ficke serves as Executive Vice President and is a member of the Institutional Capital Markets Group of Colliers International.  Mr. Ficke focuses on the acquisition, disposition and capitalization of CTL, GSA and NNN properties and portfolios throughout the country. Mr. Ficke’s primary focus is representing sellers of investment grade assets leased to the federal government and other national credit tenants.  Throughout Mr. Ficke's career he has closed transactions valued at more than $1,400,000,000 ($1.4 Billion) in 44-states. 

Prior to joining Colliers International, Mr. Ficke served as Senior Vice President and Senior National Director of Marcus and Millichap's Office and Industrial Properties and Net Lease Properties Groups.  For over ten consecutive years he ranked in the top 10 in total production nationally within the National Office and Industrial Properties Group and consistently a top 20 perfomer in the Net Lease Properties Group. 

Mr. Ficke leads a 10 person team thats success has hinged upon the relationships formed with private investors, developers, institutional investors, public REITs, private equity funds, off-shore investors, syndicates, as well as brokers from other national and regional brokerage firms. This is a testament to the teams willingness to collaborate with other brokers as well as the relationships fostered throughout the country.  Each agent within the team has a clearly defined specialization which allows the team to hyper-focus in various niches within the CTL, GSA and NNN market.   
 

View expert

Zack Ficke

Vice President

Dallas

Zack Ficke serves as Vice President for the Institutional Capital Markets Group of Colliers International. Mr. Ficke specializes in acquisitions, dispositions, and project capitalization solutions for CTL, NNN, and Federal Government (GSA &VA) leased property throughout the United States. 

Mr. Ficke’s core focus is representation of developers and sellers of single-tenant, investment grade properties with experience in both portfolio transactions and sale-leaseback executions.  In addition to representing a diverse mix of clients including public REIT’s, developers, private equity funds, syndicators and international investors; Mr. Ficke also provides operational and managerial support across the 8- person team with a total closed transaction volume of $1.2 Billion in 44 states.

Prior to joining Colliers, Mr. Ficke was a member of the Office/Industrial and NNN property groups with Marcus & Millichap in Dallas, TX. Preceding his time in commercial real estate, Mr. Ficke served as VP, Strategic Partnerships for the midwest region of national media conglomerates Cumulus Media/Westwood One and iHeartRadio/Premiere Networks. Mr. Ficke led all new business development efforts for the midwest region’s national and local sales teams, leveraging multi-platform media sponsorships that resulted in over $250,000,000 of new sponsorship revenues with Fortune 500 brands such as Target, General Mills, and Advanced Auto Parts.

With over 17+ years of corporate management and sales experience, Mr. Ficke prides himself on providing a consultative approach to commercial real estate with experience assisting owners in lease negotiations, property valuations, dispositions, acquisition sourcing, and equity capital formation for new developments.

View expert