If you live, work, or do business in Conway, there’s a good chance you’ve visited a property owned or managed by Trinity Development Company. The land development and real estate firm has shaped the landscape of the area since 1977, owning and managing more than 300,000 square feet of office and commercial properties and 573 apartment units in Faulkner County. We talked with Trinity Development president Jim Rankin Jr. about commercial and residential real estate in the Conway area.
In your experience, what attracts people to Conway?
JIM: Our schools are first-class; we are close to Little Rock for a short commute to work; and entertainment has finally started to evolve, including nightlife and restaurants. Now people have enough to do in Conway that they no longer need to look to Little Rock for after-work entertainment. Conway has first-class, affordable neighborhoods and plenty to do outside – there are trails, lakes close by, and areas for hunting. Of course, there’s UCA, Hendrix, and CBC. Conway has enough for everyone.
What are three things someone should consider before leasing residential space in Conway?
JIM: The first is local ownership. We personally see our properties every day and want to be proud of the way they look and the way we treat our tenants. Out-of-town ownership does not allow for a personal relationship with tenants. They do not know the people. It is easy for them to just look at the bottom line of their financials and ignore the needs of their tenants. By leasing through a locally owned company, the tenant knows their concerns are taken seriously.
The second thing to consider is upkeep of the property. This also goes back to being local. We have our own maintenance staff at Trinity Development who take pride in the property. We don’t hire out to a third party. You see the same people from one week to the next, so you get to know and trust who will be servicing your needs.
Finally, location is an important consideration. We have multiple locations in Conway for someone to choose from. Whether they want to be close to shopping, schools, or bike trails, we have a location for them.
What would you tell a business owner who is on the fence about leasing commercial property during a time when remote work is becoming more common?
JIM: You will never replace personal service. Most of our commercial spaces are geared toward the one-on-one relationship. We are more neighborhood-oriented so that you shop with your neighbor. It is convenient since they are close to your home, and there is no better way to spend your money than to spend it with your neighbor. You know you are helping a friend by buying locally.
What trends are you seeing in commercial and residential real estate?
JIM: Location is becoming more prevalent in residential. People want to be near the places they want to eat, exercise, and shop. It comes down to a desire for less driving and more living. Commercially, the neighborhood centers are thriving. Shopping at big-box stores has always been impersonal, so socially speaking, buying online is really no different than going to a big-box store. People need good social interaction, and the neighborhood shopping center is perfect for that.
What are some of the most common mistakes you see people make when leasing residential property?
JIM: Not meeting their neighbors. We have some of the best tenants in the world. We have people who have lived with us for over 25 years. When you lease a new home, get to know the people around you; they may become your friend for life. Also, if the office staff you meet are not happy to see you and take care of you, you can bet the property you choose will not be taken care of in a manner you would hope.
Trinity Development is operated by Jim Rankin Jr., Adam Harrison, Courtnie Pledger, Jeremy Gass, Talon Houston, Lindsay Stobaugh, and Harleigh Lagasse. Stop by their offices at 1307 Main Street in Conway, visit their website at trinitydevelopmentinc.com, or call 501-336-0050.