Central Arkansas Retail Space Vacancy Rate Declines

by Arkansas Business Staff  on Monday, May. 26, 2014 12:00 am  

Source: Central Arkansas Commercial Data Exchange

The vacancy rate in the retail real estate market in central Arkansas in first-quarter 2014 fell to 5 percent, compared with 5.1 percent in fourth-quarter 2013 and 7 percent in the year-earlier quarter. The regional rate is far below the national rate of 10.2 percent.

“With the continued increase in occupancy, available retail space in the central Arkansas market is becoming harder to find,” said Little Rock broker Jeff Yates. “Retail demand has outpaced supply.”

“Additional new construction is needed to accommodate present demand and, in fact, new properties are starting to be constructed," said Yates. "Long-term growth can be expected to require additional supply.”

 

 

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