Max Mehlburger's Normandy Place LLC of Little Rock has purchased the Ozark National Life Building at 10201 W. Markham St. in Little Rock for $3.25 million.
Flake & Kelley Commercial of Little Rock, which represented the buyer, announced the sale on Tuesday. The seller, represented by Collier's International of Arkansas, was Security Plan Life Insurance Co.
The three-story, 35,552-SF building will be renamed as the "Markham Executive Center." Flake & Kelley will manage and lease the property.
"We are excited to add this property to our portfolio," Thomas Schmidt of Flake & Kelley said in a news release. "The new owner has big plans for the building, including turning a large part of the building into professional/executive suites."
Flake & Kelley, a commercial real estate and property management company, manages about 5 million SF of commercial space.