The two-story Executive Center office building at 1116 S. Walton Blvd. in Bentonville changed hands recently, and the new owners already have started a $450,000 interior remodel.
Desert Crest LLC, a California-based real estate holding company, paid $6 million for the 52,361-square-foot building in January. Executive Center II LLC, the property’s original developer and managed by John T. Hampton and Phillip E. Lee, was the seller.
“We are bringing the Executive Center into 2021 with a complete interior remodel consisting of new paint, flooring, cabinetry, granite, furniture and decor throughout the building,” said Rochelle Kirk, an asset manager with Desert Crest. She’s working on the project along with lead designer Erin Reinker with RIN Interiors in Bentonville.
Bathrooms will be redesigned and remodeled as well, and the existing breakroom is being redesigned as a lounge with convenient amenities for building tenants and their clients.
The building’s business center is getting new cabinets, countertops and features available to all tenants. RIN will also remodel interior offices with new lighting and interior signage.
Workers will add a dedicated co-working space to the second floor, with full-service amenities such as virtual offices, daily, monthly, short-term, desk and small office rentals.
The building exterior will get new paint, landscaping and new signage. Workers will also install a new 70-ton HVAC system.
Workers should complete most of the project by April. Kirk said the building’s new name of Madison Square Business Center goes into effect on April 8, the same day the new owners have an open house planned.
Bentonville firm Steve Fineberg & Associates is the building’s new leasing agent.