The vacancy rate for retail space in central Arkansas rose in the fourth quarter of 2016 to 5.4 percent, compared with 4.8 percent in third-quarter 2016.
“During the fourth quarter of 2016, Lewis Crossing in Conway continued to be the ‘hot new area,’ ” said Mark A. Bingman of Rector Phillips Morse Inc. “This new construction accounted for most of the year-end net absorption for the central Arkansas market with approximately 300,000 SF."
(Related: Conway Booms, Setting Retail Records.)
“Although the overall vacancy rate remains low, it will be interesting to watch the effect of the increasing influence of internet sales on future brick-and-mortar spaces,” said Bingman.
