Flake & Co. and ARK Commercial & Investment Real Estate have announced a strategic merger that brings together two respected names in Arkansas commercial real estate. Beginning November 1, the combined firm will operate under the Flake & Co. name. The collaboration unites the leadership of Jessica Flake Dearnley, John Flake, and Jeff Yates, combining […]
Flake & Co. and ARK Commercial Join Forces Read More »
Flake & Co. was founded at a unique moment in Arkansas commercial real estate — one that brought together legacy, leadership, and a new generation of vision. After years of experience in both finance and commercial real estate, Jessica Flake Dearnley launched Flake & Co. in 2020, establishing a firm rooted in family history but
Flake & Co. Represents a New Chapter in a Long Arkansas Real Estate Legacy Read More »
Flake & Co. represented the buyer in the acquisition of a west Little Rock office property located at 11025 Anderson Drive. The property, a three-story office building totaling 17,264 square feet, sold for $4.01 million. Positioned near the Interstate 430 and Cantrell Road interchange, the building was originally constructed in 1989. Jessica Flake Dearnley represented
Flake & Co. Represents Buyer in West Little Rock Office Acquisition Read More »
For many family-owned businesses, succession planning is something that gets pushed aside until circumstances force it into focus. For Flake & Co., that turning point became the catalyst for building something new. After a serious health event in 2019, John Flake began thinking more intentionally about the future of the business and the importance of
Flake & Co. Built Its Future by Building From the Ground Up Read More »
Matthew Dearnley’s commercial real estate career has come full circle. More than 20 years after first entering the industry in Little Rock, Dearnley is now helping lead brokerage efforts at Flake & Co., bringing with him a background that spans development, brokerage, property management, and investment across Arkansas. Originally from Brooklyn, New York, Dearnley moved
Matthew Dearnley Brings Decades of Commercial Real Estate Experience Back to Little Rock Read More »
Flake & Company continues to expand its commercial real estate portfolio across Arkansas, Texas, Oklahoma, and Missouri. Recent acquisitions include a mix of office, retail, and industrial properties, reflecting the firm’s strategic approach to growth. By leveraging deep market knowledge and long-standing relationships, the company has successfully identified opportunities that align with its investment philosophy.
Flake & Company Expands Portfolio Across the Southern Region Read More »
Our team has decades of experience in project management. Ideally, we are involved from the very start in assisting with site selection and a market survey to ...
Most real estate is financed through some type of debt. Commercial real estate loans almost always have amortiz-ations periods that do not match up to when ...
Loans that default normally go through a period of a Court Appointed Receivership where a neutral third party will manage and lease the property while ...
Between Jeff Yates as a licensed instructor and 30 plus years of experience, and Jessica Dearnley with her C.V., we can provide litigation ...
Like assistance with due diligence process, lease structuring is not simple. What is the investors time horizon for the investor? Does the investor want to provide a tenant ...
Fully accounting for all building areas is essential to professional management and maintenance of commercial buildings. Different elements, such as janitorial ...
We apply our long-term steps of evaluating a property. It is MUCH more that considering the income stream from the previous year and ...
It is critical to monitor tax increases and not let this fall through the cracks. Our team understands how to provide market comparable sales leases, along with an assessment of possible deterioration of net operating income with leases rolling over that requires additional funds from the landlord for tenant improvement allowances and leasing commissions. Landlords need to make sure that they are minimizing their tax consequences as these funds could be applied towards new tenancy, capital or aesthetic improvements to the property.
Flake & Company’s legacy began in 1932, when Charles Leon Flake established a real estate business during the Great Depression with a focus on residential properties. Over time, the company evolved into commercial real estate, becoming one of Arkansas’ most respected and trusted names in the industry.
Through the decades, the Flake name has been tied to some of the region’s most recognizable and impactful projects. This track record of success has built a foundation of expertise, integrity, and client trust that continues to guide the firm today.
By 2020, nearly nine decades after its founding, Flake & Company formally took shape to carry forward this legacy. The firm now blends its historic roots with forward-looking financial and real estate insight, offering clients strategic opportunities in commercial real estate that strengthen and diversify their portfolios.
Shareva Wright is an experienced Accounting and Administration Specialist with a strong background in financial reporting, accounts management, and operational training. Currently at Flake & Company in Little Rock, Arkansas, she leads key initiatives in accounts receivable and payable management, bank reconciliation, and financial reporting. Her ability to design and implement training processes and develop custom spreadsheets has significantly improved departmental workflows and data accuracy.
With deep expertise in general ledger maintenance, aging report analysis, and bank reconciliations, Shareva brings both precision and strategic insight into every financial challenge. She is an expert in Yardi software and known for her ability to audit documents, process invoices, and maintain clean, reconciled accounts across complex portfolios.
John Knight serves as the Property Maintenance Director at Flake and Company, a role he has held since September 2024. He oversees the full scope of property maintenance, repair, and operational management across the organization’s portfolio, ensuring that all buildings are maintained to the highest standards of safety, efficiency, and compliance.
In his position, John directs preventive and routine maintenance programs, manages procurement and budgeting to maximize cost-effectiveness, and leads a skilled team of technicians and maintenance professionals. He plays a critical role in developing and implementing maintenance policies that enhance property performance, extend asset life, and support the company’s long-term success.
With more than three decades of experience in the field, John has been working in property and facility maintenance since 1993. Over the years, he has held progressive roles ranging from hands-on technician to supervisory and management positions, building deep expertise in HVAC systems, electrical and mechanical operations, safety compliance, and large-scale property maintenance. His extensive background has equipped him with the technical knowledge and leadership skills to handle both day-to-day operations and long-term asset planning.
John’s combination of technical expertise, leadership, and strategic planning allows him to deliver reliable, efficient, and cost-effective maintenance solutions that align with organizational goals.
John Flake, Advisor at Flake & Company, is one of Arkansas’s most accomplished and respected leaders in commercial real estate. With a career spanning more than five decades, Mr. Flake has been instrumental in shaping the state’s commercial landscape through landmark developments, visionary leadership, and unwavering dedication to client success. He has led landmark developments—including the iconic 40-story Simmons Bank Building (formerly known has Capital Tower in 1986, and later the TCBY Tower)—that have redefined the city skyline and fueled economic growth throughout the region TCBY Tower)—that have redefined the city skyline and fueled economic growth throughout the region. He has been a Certified Commercial Investment Member (CCIM) for 50 years.
In recognition of his lifelong contributions, Mr. Flake was honored with the Commercial Real Estate Council Legend Award in 2025, placing him among a select group of industry trailblazers who have left a lasting mark on Arkansas’s built environment.
Mr. Flake began his career working alongside his brother, Dickson Flake, at Barnes, Quinn, Flake and Anderson, before founding Flake & Company 1979. In 2020, he exited the firm he founded, which was known as Flake & Kelley Commercial at the time. As his daughter was starting over again, he joined her to continue a proud family legacy in real estate.
Over the years, he has completed transformative projects as well as major developments for healthcare, retail, and energy clients. His client portfolio includes many of Arkansas’s most prominent institutions and corporations, such as Baptist Health, Walmart, Dillard’s, Verizon, Acxiom, Entergy, and the Electric Cooperatives of Arkansas.
Beyond his professional accomplishments, Mr. Flake has long demonstrated a commitment to civic and cultural life in Arkansas. He has supported organizations such as the Arkansas Symphony Orchestra, Big Brothers of Pulaski County, the Greater Little Rock Chamber of Commerce, and the Downtown Partnership, and has served on the Little Rock National Airport Commission among other leadership roles.
Through his work, John Flake has not only elevated Arkansas’s commercial real estate industry but also strengthened the communities it serves. His vision, integrity, and lifelong commitment to excellence continue to guide Flake & Company as it builds on a legacy of innovation and service.
Lee Hastings IV, holds an Arkansas real estate license and is the President of Moon and Central Distributors, located in Little Rock, Arkansas. Moon and Central Distributors is a 4th generation, family owned business founded by Hastings’ great grandfather in 1935. Hastings is the Chairman of the Council for Leadership Development (CLD) for the Wine and Spirits Wholesalers of America (WSWA).
While at Moon and Central Distributors, Lee has helped to oversee projects such as the purchase and implementation of a new warehouse management system, sales data order entry system, and various other technology roll outs and upgrades. He has also helped with the integration of several sales and management education programs.
Hastings began his career with Moon and Central Distributors working in the warehouse as a teenager. It was at this time Lee’s passion for his family’s chosen industry began to grow, and he was encouraged by his father and uncle to consider joining the business following college.
Lee holds a Bachelor of Science in Business Administration from the University of Arkansas, Walton College of Business. His experience in real estate transactions has been with Sherwin Williams, Family Dollar, Verizon, Carrier Corporation, Clinton Foundation, Entergy and numerous banks.
Jeff Yates is a licensed real estate instructor and broker in Arkansas, and author of the What’s Happening in Commercial Real Estate column at the Daily Record, who serves as Executive Broker at Flake & Company. With a career in commercial real estate dating back to 1995, Jeff specializes in the leasing, acquisition, and disposition of office and retail properties.
Jeff holds multiple professional designations from the International Council of Shopping Centers (ICSC), including:
Jeff is an active member of the Building Owners and Managers Association (BOMA) of Greater Little Rock and is currently completing the Real Property Administrator (RPA) designation. He is also affiliated with the Arkansas chapters of:
As the founding member of the Commercial Real Estate Council of Metro Little Rock (CREC MLR), Jeff has played a pivotal role in shaping the region’s commercial real estate networking.
Over the course of his career, Jeff has facilitated the leasing, sale, and development of more than three million square feet of office and retail space. His portfolio includes a diverse range of properties—from single-tenant and multi-tenant retail centers to low-rise and high-rise office buildings. Notable project involvements include:
Jeff is a recognized speaker on topics such as commercial real estate markets, leasing strategies, investment analysis, construction, zoning, and land use. He has presented to leading industry organizations including BOMA, IREM, CCIM, NAR, ICSC, and the Arkansas Economic Developers Conference. He a licensed real estate instructor with the Arkansas Real Estate Commission, regularly teaching Continuing Education classes to commercial real estate professionals. Jeff has taught in the BOMA Foundations of Real Estate courses, and he has lectured at Lorman Education Services seminars on commercial real estate investment.
Jill Wilcox is a seasoned Commercial Property Manager known for her boutique-style approach that emphasizes exceptional service and meticulous attention to detail.
With more than 30 years of experience owning and operating commercial and residential construction companies, Jill brings a deep understanding of property management, design, and development. Her career also includes a decade in sales and marketing in the energy sector, further sharpening her skills in client service and business growth.
Jill currently serves as COO of WCF Construction and CFO of W&W Enterprises, while also managing properties for Flake & Company. As both a property manager and a multifamily housing owner, she understands the full spectrum of real estate operations, from development to day-to-day management.
Her strengths include people management and cultivating strong business relationships that foster long-term success. Jill’s formal education includes graduating from McClellan High School and completing The BOMA Foundations Course, Foundations of Real Estate Management.
Born in Little Rock, Arkansas, Jill relocated to Oklahoma in 2013, where she lived and worked until 2023. Outside of her professional endeavors, she enjoys spending time with family and friends and traveling.
Roxanne Litchholt is the Executive Vice President & Senior Property Manager at Flake & Company, bringing over 20 years of experience in managing a diverse portfolio of commercial, medical, retail, mixed-use, residential properties, and association management. Roxanne’s strengths include a proven track record in financial reporting, construction management, and business operations. Roxanne is passionate about delivering exceptional service and creating strong client relationships. She holds a Real Property Administrator (RPA) designation from the internationally recognized Building Owners and Managers Association and an Arkansas Real Estate Sales License, demonstrating her commitment to excellence and professionalism.
Driven by a philosophy of empowering others and solving complex challenges, Roxanne combines strategic leadership with hands-on expertise to achieve operational success while fostering growth within her team and community.
Real Property Administrator (RPA) designation
Arkansas Real Estate Sales License
Member of Phi Theta Kappa, an honor society
Jessica Flake Dearnley has over twenty years of experience in commercial real estate asset management. She has leased and managed numerous office and medical buildings, super regional enclosed shopping centers and more. Previously, she has worked in private wealth management as and as financial analyst and as a credit analyst on commercial real estate loans. Her skillset is unmatched in terms of financial modeling and analysis, lease underwriting and negotiations, and managing operating budgets.
Jessica was a Principal Broker at the former Flake & Kelley Commercial since 2012, and most recently at Flake & Company, which was named after the original firm founded by her father, John J. Flake, in 1979. She is a legacy in commercial real estate and the third generation in her family, which started in Little Rock in 1932.
Masters in Finance
Johns Hopkins University
Masters in Accountancy
University of Arkansas
Masters in Business Administration
University of Miami, Coral Gables, Florida
Bachelor in Cognitive Psychology and Creating Writing
Carnegie Mellon University
