Crossland announces new tenant for burgeoning industrial park in Springdale
by March 1, 2023 3:41 pm 3,301 views
Pittsburg, Kan.–based Watco, a transportation and logistics company, has signed a long-term lease to occupy a 200,000-square-foot building in the I-49 Logistics Park at 621 W. Apple Blossom in Springdale, just south of J.B. Hunt Transport headquarters.
Crossland Realty Group, a privately owned real estate investment firm based in Kansas and a division of Crossland Construction, is the developer. The 13-acre, build-to-suit project is the second building within the 91-acre master-planned park and is expected to be completed by late summer 2023. A 300,000-square-foot warehouse was completed in February and is available for lease.
Crossland Realty Group bought the land in 2020 for $5.2 million.
“Our new, centrally located logistics headquarters and warehouse uniquely positions Watco as a leader in the retail services industry,” Dan Smith, Watco CEO, said in a statement. “Retailers and their vendors will now have a premium option in warehousing, special roll-out projects, e-commerce distribution, and reverse logistics. We’re excited to offer this center point facility to current and future customers.”
The concrete tilt-wall construction facility will also contain 16,000 square feet of commercial office space.
Mattie Crossland, Crossland Realty Group’s director of real estate, said the company is excited about the Watco project’s economic impact, including skilled jobs, retail service traffic, and millions in real estate taxes.
“We are thrilled to work with Watco on this build-to-suit project,” she said. “We are committed to giving back and being a Springdale community partner. Watco is a highly regarded company, and we look forward to seeing the impact their new facility brings to both the Springdale and greater Northwest Arkansas communities.”
The Crossland announcement did not include financial details about the project or Watco’s investment. Mattie Crossland declined to disclose the amount.
The I-49 Logistics Park is strategically positioned east of the Interstate 49/Arkansas Highway 612 intersection. Right now, Highway 612 is only built to the west. The plan is to ultimately build out the eastern portion of the highway — through or near the Crossland property — to create a divided highway corridor known as the future U.S. Highway 412 Bypass.
It will run from an interchange with U.S. Highway 412 west of Tontitown to U.S. Highway 412 east of Sonora and just west of Beaver Lake.
Once reaching full occupancy, Crossland said the park is projected to bring in nearly 1,000 skilled jobs.
Crossland said Crossland Realty Group partnered with the city of Springdale to write a grant to receive funds through the American Rescue Plan Act, providing the money needed to complete the Dixieland Road extension to the park.
Marshall Saviers and Stephanie Farmer with Cushman & Wakefield/Sage Partners in Rogers brokered the lease agreement. Crossland Construction will be the general contractor, and Crossland Heavy Contractors will perform the master-planned site utilities.
Crossland Realty Group provided site selection assistance, site planning, design & engineering management, construction management, and property and asset management services.