The vacancy rate for retail space in central Arkansas stood at 4.7 percent in first-quarter 2016, compared with 4.8 percent in fourth-quarter 2015, according to Xceligent Inc. of Independence, Missouri, a provider of information and reports on area real estate.
“The supply of retail space continued to get tighter in first-quarter 2016,” said Brooke Miller of Flake & Kelley Commercial of Little Rock. “Vacancies in prime locations are leasing quickly, and we’re starting to see new leasing activity in centers that have been somewhat idle over the past year or so. New product coming into the marketplace is mostly outside of Little Rock, with new retail projects and developments in Benton and Conway, for example.”
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