Retail Leasing Sees Increases Continue

by George Waldon  on Wednesday, Aug. 1, 2012 2:38 pm  

Strode Properties Co. of Dallas continues progress on its Park Avenue project with construction of a Jared Jewelers. (Photo by Michael Pirnique)

About 15,000 SF of ground floor retail space is planned for one of three apartment buildings designated for the property along with 29,000 SF of retail in a fourth building.

The property is near the parking deck that once served the now-demolished University Mall at 300 S. University Ave.

Mark Bingman, associate broker at Little Rock’s Rector Phillips Morse Inc., said the phones are ringing again and more people are looking for retail space.

“The mood is generally, cautiously optimistic,” he said. “We’ve been in a holding pattern during ‘08, ‘09 and ‘10. Activity seems to be up.

“Last year, they wouldn’t have even come into town. They’re stirring at least.”

Wal-Mart is bringing tandem Neighborhood Markets on line in redeveloped retail space in Little Rock.

A vacant 63,000-SF building in the Riverdale Center once leased to Harvest Foods is undergoing transformation along with the former Wal-Mart at 700 S. Bowman Road.

The projects are the first Neighborhood Markets to make the Little Rock scene and mark an escalation of the grocery wars.

In 2010, Kroger completed one of its expanded Marketplace stores at 16105 Chenal Parkway in the Dairyland Shopping Center, and the grocery chain is in the process of replacing a 65,000-SF outlet at 14000 Cantrell Road in Candlewood Station with a neighboring 122,000-SF store.

The old Kroger space at Dairyland is refilling with tenants such as Marshalls and Chenal Fitness & Health Center while the current Kroger at Dairyland is destined to become parking space for the new one set to open next year.

 

 

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