The vacancy rate for commercial office space in central Arkansas declined in the fourth quarter, Central Arkansas Commercial Data Exchange said in its latest report. It fell to 8.7 percent compared with 9.3 percent in the third quarter and 11.4 percent in the year-earlier quarter. “The overall office market continues to strengthen with another quarter of declining vacancy,” said Mark A. Bentley of Colliers International.
“Assuming no unforeseen events that would negatively impact our economy, the Little Rock office market should remain strong into the near future,” said Bentley. “With continuing space absorption and single-digit vacancy, we will likely see some uptick in rental rates and possibly some ‘user-driven’ new development.”
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