The vacancy rate for retail space in central Arkansas fell to 5.3 percent in third-quarter 2015 compared with 6 percent in second-quarter 2015; however, it ticked up slightly compared with 5.2 percent in third-quarter 2014.
“The retail market trend for the third quarter shows robust absorption and is only slightly higher than historical vacancy rate lows,” noted Brian Gehrki of Gehrki Commercial Real Estate.
“Compared with Q2 results, net absorption increased by 328,999 SF. This is due to significant positive absorption in the Saline County market of 202,000 SF,” said Gehrki. “The Hurricane Creek Village shopping center recently came on line, with tenants Kroger Marketplace, Academy Sports and Slim Chickens leading the charge. Results were also aided by strong absorption in the west Little Rock and North Little Rock submarkets. The deceleration of speculative square footage growth and stiff competition for well-positioned real estate contributed to such a strong quarterly performance.”
Sign up for Daily E-news
