The vacancy rate for the central Arkansas retail real estate market rose to 5.7 percent in first-quarter 2017, compared with 4.9 percent in first-quarter 2016.
The retail market recorded 11,771 SF of negative absorption during the first quarter of this year. Meanwhile, weighted average asking rents in all classes rose 3 percent, to $12.57 per SF at the close of the quarter.
“Most of the central Arkansas markets being tracked showed little to no change, reflecting an underlying strength in the overall market,” said Brian J. Gehrki, principal broker of Gehrki Commercial Real Estate LLC of Hot Springs. “Despite the increase, vacancy rates continue to be at historically low levels.”
Sign up for Daily E-news
