In 3 deals worth $16.3M, Crafton Tull stakes ownership in office buildings

by Paul Gatling ([email protected]) 1,239 views 

A Northwest Arkansas investment group that includes Rogers-based design and engineering firm Crafton Tull has acquired three office buildings for a combined $16.3 million.

Crafton Tull previously leased all or a portion of the buildings. They are:

  • 1000 Ledgelawn Drive in Conway; 13,500 square feet for $3.4 million;
  • 300 Pointe Parkway Blvd. in Yukon, Okla.; 15,000 square feet for $4 million;
  • 901 N. 47th Street, Suite 400, in Rogers; 65,000 square feet for $8.9 million.

Crafton Tull is the sole tenant in Conway and Yukon. The company leases approximately 40% of the Rogers building and plans to increase its footprint there.

A Crafton Tull news release Thursday (June 2) did not include the other investors in the buyer’s group. Cushman & Wakefield/Sage Partners in Rogers brokered the deal and will manage and lease the properties.

“We are proud to continue our long-term presence in these three communities and look forward to continued growth,” Crafton Tull president and CEO Matt Crafton said in the release. “We appreciate the confidence shown in our firm by the other investors in these properties.”

The Conway property is in The Meadows Office and Technology Park. Crafton Tull has leased the building since it was built in 2014. Crafton Tull began its lease in Rogers along northbound Interstate 49 in 2002 and leases space along with other tenants. The Yukon property is near the John Kilpatrick Turnpike and Interstate 40 intersection in the Oklahoma City metro. Crafton Tull has leased the building since it was built in 2016.

Founded in 1963, Crafton Tull employs more than 250 people and has offices located throughout Arkansas and Oklahoma. The firm is one of three 100% employee-owned Employee Stock Ownership Plan (ESOP) corporations headquartered in Arkansas.

The firm offers professional services including civil and structural engineering, architecture, surveying, landscape architecture, planning, and environmental services.