The total vacancy rate for the central Arkansas retail real estate market rose to 6 percent in third-quarter 2017 compared with 5.1 percent in third-quarter 2016.
“The latest report provides a study in contrasts,” said Jeff Yates of ARK Commercial & Investment Real Estate of Little Rock. “Growing inventory in the suburban submarkets resulted in a rise in vacancy despite positive absorption. Rental rates are divergent, rising in some products and declining in others. As some stores close, others are opening.
“New construction continues to be moderate and directly proportional to pre-development lease commitments from retailers expanding in secondary and tertiary markets.”
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