What is the story about?
What's Happening?
A significant real estate transaction has occurred in Bentonville, Arkansas, where a 284,896-square-foot industrial building was sold for $31.48 million. The property, located near the Walmart distribution center on Arkansas Highway 12, was purchased by Runway Warehouse LLC, a company associated with the Runway Group, led by Tom and Steuart Walton. The building, constructed in 2024, is part of the Gateway Park development by CrossMar Investments. It is set to house a new 70,000-square-foot facility for Eko, a New York-based technology company, which plans to create 200 jobs by the end of the year.
Why It's Important?
This transaction underscores the growing industrial real estate market in Bentonville, driven by strategic investments from prominent local entities like the Runway Group. The development of Eko's facility highlights the region's appeal to technology companies, potentially boosting local employment and economic growth. The involvement of the Walton family, known for their ties to Walmart, further emphasizes Bentonville's strategic importance as a business hub. This sale could signal increased interest in the area from other tech and industrial firms, fostering further economic development.
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