Regus Putting New Center Beside Wal-Mart HQ

BENTONVILLE, AR-In its effort to better service Wal-Mart Stores Inc. vendors, the Regus Group has moved into Arkansas, taking down 15,000 sf in a six-year lease. The executive suite center operator plans to open in October in the 272,000-sf Bentonville Plaza, a class A building that’s right across the street from the retail giant’s headquarters campus.

Michael Berretta, Regus’ vice president of business development for the Dallas-based company’s Americas region, says Bentonville has been a target location for two years. “We chose Bentonville because of the proximity to Wal-Mart,” he explains. “We expand based on customer demand and we happen to share a lot of customers and vendors with Wal-Mart.” The quoted rate for the 609 S.W. 8th St. building isn’t available, but comparable office space in the neighborhood ranges from $15 per sf to $17.50 per sf, gross.

Berretta tells GlobeSt.com that the Bentonville center will be different from other Regus locations, with offices large enough to accommodate racking systems and displays. Additionally, meeting rooms will be available so that vendors not wishing permanent office space can rent space on a daily, weekly and monthly basis. “We don’t typically cater to a retailer with this much focus,” Berretta acknowledges. “This Bentonville project will have a lot of focus on retail clients.”