We reviewed all office sales since 2021 for buildings over 20,000 square feet. Please see the summary of the attached report below. Feel free to give us a call any time to discuss the office market.

 Benton County made up 88.33% of the sales volume by square feet.
 Washington County’s sale price average was $214 psf.
 Benton County’s sale price average was $173 psf.
 Multi-Tenant building sales, which was 65% percent of the sales by square feet, averaged $127 psf.
 Approximately 70% of the Multi-Tenant sales by square footage were Class B properties ranging from $113 to $115 per square foot.
 Single Tenant NNN leased properties topped the sales prices with a $385 psf weighted average.

Focus Commercial Real Estate’s Fall 2024 Leasing Report for Bentonville and Pinnacle Hills produced some interesting data points:

 Asking Rates increase as the size of the spaces increase, which is opposite of what we normally see. This is due to the fact that most of the larger spaces are all new construction.

 Lease rates have increased $3.25 psf as compared to 2023.

 Spaces under $20.00 psf on a gross basis has the lowest Vacancy at 9.64%.

 Downtown Bentonville has the highest vacancy at 22% mostly due to new construction and vacancy at Bentonville Plaza (approx. 80k sf)