Local commercial real estate in Northwest Arkansas is plowing through past records, and Walmart's new HQ is moving the needle.
- In the zone: In the first half of 2021, businesses absorbed more than 1m sq/ft of commercial real estate space, and almost 2/3 of the record value of building permits was issued to Walmart’s new HQ on J Street.
- Fill ’er up: Despite the move toward remote work environments due to the pandemic, the demand for retail and office space is keeping in step with the growth of the region. Additionally, users absorbing warehouses and industrial spaces caused the vacancy rate to fall “below 10% for the first time since 2017.”
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