The vacancy rate for industrial space in central Arkansas, which remained relatively stable during 2014, declined to 10.8 percent in the first quarter of 2015 compared with 11.8 percent both in the previous quarter, fourth-quarter 2014, and the year-earlier quarter, first-quarter 2014.
“The decline in vacancy reflected positive absorption of 393,161 SF,” said Fletcher Hanson of Newmark Grubb Arkansas. “Of the 45.3 million SF of industrial space tracked, the east submarket reflected the largest amount of distribution space, totaling 904,732 SF. Manufacturing space currently offers no vacancy in the market.
“We anticipate vacancy and rates to remain relatively stable over the coming quarters; projected construction and deliverables remain low.”
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