The vacancy rate for industrial space in central Arkansas fell slightly in the second quarter compared with the year-ago quarter, to 11.7 percent compared with 11.9 percent in second-quarter 2014.
“Industrial absorption was positive for the fourth quarter, but the most telling factor related to the health of the market is the slight uptick in lease rates,” said Stuart Mackey of Coldwell Banker Commercial Hathaway Group. “The slight increase in light industrial and warehouse space lease rates bolsters the notion that demand is beginning to overcome supply and will push for new development that has been sorely absent in our market for the last few years.”
“While flex space lease rates have dropped, reflecting the changing needs of local industries, the breadth of the central Arkansas market facilitates growth in occupancy and lease rates,” said Mackey. “It appears that interest and activity in the industrial marketplace is up and should continue the increase in rates while continuing to push on the demand.”
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