California Firm Acquires BNSF Building in Springdale


California Firm Acquires BNSF Building in Springdale
The newly constructed 27,465-SF industrial office building at 2708 S 48th St. in Springdale that is occupied by BNSF Logistics and owned by NAS Investment Solutions. (National Asset Services)

NAS Investment Solutions of Los Angeles has acquired the newly constructed 27,465-SF industrial office building at 2708 S. 48th St. in Springdale occupied by BNSF Logistics. 

The purchase price was not disclosed.

The building is adjacent to BNSF's 30,339-SF facility at 2710 S. 48th St. and represents phase two of a property expansion that serves as BNSF’s U.S. headquarters.

Each BNSF building is owned by a separate group of NAS Investment Solutions investors, and NASIS President and Founder Karen Kennedy is a member of both groups, according to Spokesman J.W. Robison.

National Asset Services manages the phase one building, and will handle asset and property management for the phase two building.

The acquisition was contingent upon completion of construction and full tenant occupancy of the phase two building.

NAS executives worked with Don Stroope, IT projects and facilities manager, who was responsible for coordinating the construction and tenant move-in.

"From day one, we had strong interest from astute investment clients who were identifying quality real estate as a viable alternative to investments, subject to stock market fluctuations," Kennedy said in a news release. "There is a strong demand for quality real estate in high growth areas such as Northwest Arkansas. We are extremely proud to be a part of the vibrant NWA real estate market."

NAS is also property and asset manager for another northwest Arkansas property: a 30,829-SF office building at 2200 SE 28th St. in Bentonville.