Central Arkansas Office Vacancy Rate Stays Flat

The vacancy rate for office properties in central Arkansas remained flat in the third quarter, unchanged at 11.8 percent compared with third-quarter 2012 but slightly higher than third-quarter 2012, with a rate of 11.5 percent.

It remains, however, below the national average of 15.7 percent.

“In my practice, which is largely dedicated to office leasing and sales transactions, I am seeing a continued upswing in overall activity,” said John Hathaway of Little Rock’s Coldwell Banker Commercial Hathaway Group. “For the first time in many years, there is upward pressure on the rents being commanded across all classes of lease space (especially Class A), and that naturally translates to higher prices for sales transactions.”