Insights from Cushman & Wakefield | Sage Partners’ Q2 Report
Cushman & Wakefield | Sage Partners shared key market insights in its latest quarterly report. Here are a few highlights on Northwest Arkansas’ economy at the end of Q2.
- Northwest Arkansas boasted the lowest cost of living among the top 20 best metros for millennials, according to Commercial Cafe.
- United Van Lines, America’s #1 moving company, named Arkansas the #4 state for inbound movers in its 2023 Annual National Movers study. According to the study, Arkansas had an inbound mover rate of 60.1%.
- Construction has started on Pinnacle’s new office building named, “The Visionary.” The brand-new Class A office building offers 194,463 SF of office space within walking distance to TopGolf, the Walmart Amp, retail, and restaurants.
- Centerton is the sixth-fastest growing city in the United States among cities with at least 20,000 residents, according to new estimates from the U.S. Census Bureau. The population of Centerton increased by 11.2% between July 2022 and July 2023.
- Blue Crane, a Walton owned real estate investment company, recently purchased 2,700 acres in Bella Vista with a focus on outdoor, recreational development.
- Washington and Benton county boast the lowest unemployment rate in the state at 2.3% and 2.4%. The overall unemployment rate in Arkansas stands at 3.4% as of May 2024.
- Visit Bentonville released a report finding that 49% of restaurant sales come from visitors. Of the total visitor spending, 50.2% is for food, 18.5% for lodging, 11% for retail/shopping, and 9.6% for fuel/gas stations. Little Rock contributes to the largest visitor market and Dallas represents the highest average visitor spend at restaurants.
