Best-In-Class Asset – Irreplaceable Location & Irreplaceable Building
Located adjacent to the Walmart Corporate Office (Fortune #1), Lumen Luxury Lofts is ideally situated in the heart of Bentonville. The property is just minutes from the downtown square and is surrounded by retail, restaurants, and entertainment. As the City of Bentonville continues to explode, it is increasingly more difficult to build within a mile of Walmart HQ and the downtown corridor, making this location truly irreplaceable.
Exceptionally high-quality construction is planned for Lumen. Set to be complete in late 2023 / early 2024, the property offers high-end luxury finishes with top-notch amenities. Additionally, the property offers 3,891 SF of retail space with space allocated for a cafe/restaurant user.
Exceptional Lease-Up in Downtown Bentonville Submarket Speaks to Demand for Luxury Apartments in the Area
The Bentonville submarket & Northwest Arkansas MSA has had multiple Class A luxury apartments delivered within the past 12 months that have experienced phenomenal lease-up demand, resulting in stabilization in a compressed period. For example, large developments such as The Howard, Crystal Flats, and The Fitzroy Grove were delivered between 2021 to 2022 and have already achieved stabilization and continue to operate at high occupancy rates. The strong lease-up is proof that there is significant demand for Class A communities in the downtown corridor and surrounding area.
Resort-style Amenities Attract and Retain Affluent Tenants
Lumen Luxury Lofts offers a full suite of lifestyle-focused amenities, both inside and outside the units. Stainless steel appliances, farmhouse sinks, quartz countertops, and even wine racks grace the kitchens. Tile backsplash, walk-in showers, and walk-in closets can be found in the spacious bathrooms. Many units boast soaring 10-foot ceilings, as well as in-unit washer and dryer sets, a balcony or patio, and a mud room.
Outside of the units, the common area amenities offer residents plenty of options for entertainment. The luxurious clubhouse is complete with a coffee/tea bar and conference room. The state-of-the-art fitness center includes a yoga room, pool, and hot tub. A bike storage and repair station is available for cyclist residents, as well as multiple car charging stations and a parking garage. Outdoor grills, a firepit, and a bocce ball court, as well as a playground and dog park, provide plenty of options for outdoor activities. The on-site storage, valet trash service, and on-site retail offer residents convenient services right outside their front door. Lumen truly offers luxury living, attracting and retaining affluent tenants!