Vacancy Rate in Industrial Space Dips

The vacancy rate for industrial properties in central Arkansas fell slightly to 11.2 percent in the second quarter of 2013 compared with 11.6 percent in second-quarter 2012.

This compares to a national average rate for industrial space of 9.4 percent, as reported by the National Association of Realtors. “The rental rates in central Arkansas have remained about the same during the past year, with very little change in absorption from the second quarter of 2012 to the second quarter of 2013,” said Gary Smith of Flake & Kelley Commercial. “It is still a tenants’ market for available apace.”

“Activity seems to have picked up in the past three to four months, with the hot spots being between 20,000 SF and 50,000 SF,” said Smith.