Danny Thomas has spent 50 years in the Real Estate Business. Prior to forming the company that bears his name, Danny Thomas spent 13 years with Rector-Phillips-Morse, Inc., considered at the time to be the dominant full service real estate company in Central Arkansas. While at Rector-Phillip-Morse, Mr. Thomas specialized in the sale of commercial real estate, rising to Senior Vice-President of the firm. However, he sensed that he wanted to do more in Arkansas real estate, so in 1975 he resigned his post to start The Danny Thomas Company.
From its humble beginning of two employees—himself and a secretary—The Danny Thomas Company has expanded greatly in the past 30 years, now boasting a payroll of approximately 60 people. But the growth has not been limited just to staff. Indeed, whereas in 1975 they only sold commercial real estate, they have since diversified into management, investment, and development, striking wherever the ground seems fertile and the moment ripe.
Have a Look at a Brief History of Our Major Movements and Growth
Shortly after the birth of The Danny Thomas Company, they formed the Danny Thomas Management Company to manage both properties that they controlled as well as properties owned by third parties. This move helped generate a fixed income, money that soon allowed them to cover the company’s overhead. The result has been that they can now be very selective in choosing new properties to pursue.
Soon after, they formed the Danny Thomas Investment Company (NASD Broker/Dealer), a move that provided them a vehicle to raise equity to purchase commercial real estate. This company raised approximately 50 million dollars in the forms of debt and equity, money that was then used to purchase apartments, office buildings, shopping centers, parking lots and pre-developed land. The Mortgage Center, started in the early 90’s as a subsidiary of the Investment Company, is active in commercial loan placement both on their account and third party transactions.
In the late-70’s, the Danny Thomas Development Company was formed to develop land and construct starter homes on these lots. Though a successful venture—homes were constructed at a rate of 125 a year—it was eventually phased out because of both the unpredictable market in Central Arkansas and the large amount of capital it took to operate this company.
Finally, in 1991 they opened an upscale flea market as a related company. It is located in a shopping center in Southwest Little Rock, on a plot formerly occupied by Wal-Mart, and it has proven to be a boost to the profit margins.
Our companies now employ approximately sixty (60) people. This number includes our flea market employees, which numbers about 15 people. We currently own or manage approximately 2,000 apartments, approximately 300,000 square feet of retail space and approximately 137,000 square feet of office and warehouse space. We developed a senior citizen apartment complex located in Hot Springs, Arkansas. We along with Realm Realty of Houston, Texas, have redeveloped the Market Plaza Shopping Center in North Little Rock, Arkansas. Finally, we are actively redeveloping a commercial property in Little Rock.