Electric vehicle maker Canoo moved its headquarters to Bentonville, Arkansas, to be part of a growing region of EV research, development and manufacturing. The move from Austin, Texas, earned the company a CoStar Impact Award for lease of the year for the Fayetteville/Northwest Arkansas market.
Canoo will occupy the entire property at 4700 SW Regional Airport Blvd. The 275,000-square-foot property has 30 docks and was built in 2021.
When announcing the plans to move, the EV startup said it also planned to establish a research and development center in Fayetteville and its industrialization facility in Bentonville.
About the Project: Canoo said it is working with Arkansas and Oklahoma to advance the EV revolution, enabling sustainable business and jobs. The company, whicjh also has offices in California and Texas said its decision was part of transforming the U.S. Route 412 corridor from Oklahoma through Arkansas into a center for electric vehicle research, development and manufacturing. In June, 2021 Canoo selected Oklahoma as the site for its U.S. manufacturing facility.
What the Judges Said: "In addition to the impressive size of this lease, I feel that Canoo's entry into this market represents an exciting step in the maturation and diversification of the Northwest Arkansas economy," said Clinton Bennett, principal at Bennett Commercial Real Estate.
They Made It Happen: Marshall Saviers, president and principal at Cushman & Wakefield Sage Partners; and Brian Shaw, chairman at Cushman & Wakefield Sage Partners