Central Research Plans Lowell, Arkansas, Operations Center
The company said it plans to combine their Lowell and Springdale operations by moving into a proposed 50,000-square-foot, two-story building that is part of a planned development at the southwest corner of West Monroe Avenue and Interstate 49.
“As CRI continues to experience growth, the timing felt right for us to find a larger, more permanent location for our operations,” said Scott Dillard, CRI President & CEO. “Northwest Arkansas has been a great location for our business. The new space will give us the flexibility to expand current and future business in this area and across the United States.”
The company employs nearly 300 in Northwest Arkansas and has operations in various other locations across the United States, including a Washington, D.C., program office in Annandale, Virginia.
KMK Equity LLC, an entity managed by Dillard, purchased the 30-plus acres with plans for a mix of office, retail and hotel development. David Erstine, with commercial real estate firm CBRE in Fayetteville, Arkansas, assisted KMK Equity with the search for the property and will work to finalize development plans. Construction is expected to begin during the first half of 2020.
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