Retail Vacancy Rate Continues Slide

The vacancy rate for retail space in the central Arkansas commercial real estate market slipped again in the first quarter of 2013, falling to 7.4 percent compared with 7.6 percent in the previous quarter and 8.3 percent in first-quarter 2012.

The retail vacancy rate in central Arkansas remains below the national average of 10.7 percent. “Retail real estate in Little Rock remains in great shape,” said Isaac Smith, principal and executive vice president at Colliers International in Little Rock.

“Vacancy continues to tighten and make way for new developments, both speculative and user driven. In particular, Chenal Parkway in west Little Rock is extremely active with multiple developments, including a new Chuy’s Mexican restaurant, Starbucks and more to come," said Smith