A 284,896-square-foot industrial building near the Walmart distribution center on Arkansas Highway 12 in Bentonville recently changed hands for $31.48 million. The purchase price equals just over $110 per square foot.
Runway Warehouse LLC, a Delaware limited liability company, bought 4300 S.W. Rainbow Farm Road. The company shares a Bentonville address with Blue Crane, which is Runway Group’s real estate acquisition and development arm. Runway Group is a Bentonville-based diversified holding company, led by Tom Walton and his brother Steuart Walton, grandsons of Walmart founders Sam and Helen Walton.
CrossMar Industrial North 200 LLC, managed by Chris Crossland and Phil Martz, was the seller. City Title & Closing was the title agent.
Built in 2024, the industrial building on 13.43 acres is in the Gateway Park development of CrossMar Investments. CrossMar is a Bentonville-based commercial development group led by Crossland and Martz.
In May, New York-based technology company Eko announced it would open a 70,000-square-foot capture factory in the building in June. The first-of-its-kind facility comprises a full-scale production studio for interactive e-commerce content and is expected to create 200 jobs by the end of this year. Marshall Saviers and Johnny Galloway of Cushman & Wakefield / Sage Partners represented the landlord in the lease.
CrossMar was also the developer of 4700 S.W. Regional Airport Boulevard (Highway 12), an adjacent industrial building that was leased to Canoo, an electric vehicle manufacturer that had planned to relocate its headquarters from California to Bentonville. Canoo faced financial challenges and filed for Chapter 7 bankruptcy in January, ceasing operations and liquidating its assets to pay creditors.