F
ort Worth‑based Woodcrest Capital LLC acquired downtown Little Rock’s second‑tallest tower, the Regions Center, at 400 W. Capitol Ave. The 31‑story, 613,281‑sq‑ft office building went to auction on Nov. 17–19 through JLL and RealInsight Marketplace. Bids started at $5 million and climbed above $6 million before closing, while the Pulaski County assessor values the property at $29.4 million. Woodcrest, a family‑owned firm, has appointed Colliers | Arkansas to manage the property effective Dec. 15. Colliers President Isaac Smith said the center “is part of our story” and that the new contract underscores a long‑standing relationship and a pledge to deliver top‑tier service to owners, tenants, and the downtown community.

    The building sits at 44 % occupancy, home to Regions Bank, Deloitte, and the Friday Law Firm. The auction listing highlighted “immediate cash flow and significant value‑add potential through lease‑up and repositioning.” Woodcrest plans an aggressive leasing program with attractive, creative terms. Colliers will handle day‑to‑day operations.

    Erected in 1975 and refreshed in 2024, the tower received $14.5 million in upgrades—elevator modernization, HVAC, and common‑area renovations—to reduce future capital needs. Amenities include a fitness center, conference rooms, several dining options, and 640+ parking spaces. The property was previously bought in 2022 by Taconic Capital Advisors for $31 million, a deal that signaled a shift in Little Rock’s sluggish post‑COVID office market.