The vacancy rate for retail space in central Arkansas continued to inch up during first-quarter 2015, according to the Central Arkansas Commercial Data Exchange. It rose to 6.3 percent compared with 5.8 percent in fourth-quarter 2014 and 5.2 percent in the year-earlier quarter, first-quarter 2014.
“The small uptick in vacancy in Q1 was chiefly driven by the following factors: the relocation of Whole Foods, the closing of the Kroger on Shackleford and continued speculative development, primarily in WLR,” said Isaac Smith of Colliers International Arkansas. “Retail activity in the market is still excellent, and I’d expect new developments to continue throughout 2015, particularly along Chenal Parkway, at Gateway Town Center (around Bass Pro) as well as Saline County and Conway.”
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