This rendering shows a new Class A office building in development on North Steele Boulevard in Fayetteville. Engineering firm Olsson will be the lead tenant.
Nebraska-based engineering and design firm Olsson and development firm Cushman & Wakefield/Sage Partners in Rogers are partnering to build a new Class A office building on North Steele Boulevard in Fayetteville.
C.R. Crawford Construction of Fayetteville started work recently on the 36,000-square-foot building next to First National Bank of NWA. Construction is scheduled to be completed by September 2023.
In a news release, Olsson officials said they would relocate from the firm’s existing Fayetteville office (302 E. Millsap Road) and occupy the new building’s third floor and most of the second floor. Sage Partners will market the remaining space to additional tenants.
Core Architects in Rogers is the building designer. Some amenities include a rooftop patio, bicycle racks and electric vehicle charging stations.
Olsson has 65 employees in Fayetteville and expects that number to soon grow to 100.
“Our team in Arkansas has continued to grow, which requires more space and a modernized work environment that would continue to attract top talent in the area,” said Brad Strittmatter, Olsson’s CEO. “We also wanted a space that would allow us to meet the growing needs of our clients in the region.”
A limited liability company controlled by Olsson and Sage Partners bought the 2.34-acre lot from Kevin Farmer this past April for $1.75 million. The purchase price equals $17.17 per square foot.
Legacy National Bank in Springdale is financing construction with a 10-year, $11.31 million construction loan.
“Our new office is a great example of the investment Olsson is making not just in Northwest Arkansas, but in the entire state and region,” said Brad Hammond, Olsson’s Fayetteville office leader. “We’re very much vested in Arkansas, and we are excited to be part of the huge growth going on in the area. Our intent is to provide a top-notch environment that will make people enjoy coming to work every day, and I think this office accomplishes it.”