The vacancy rate for industrial space in central Arkansas stood at 10.2 percent in the fourth quarter, unchanged from third-quarter 2016 and down 0.9 percentage point from first-quarter 2016.
“The Little Rock industrial market saw a record year in terms of absorption, totaling 944,748 SF,” said J. Fletcher Hanson III of Newmark Grubb Arkansas of North Little Rock. “Warehouse and distribution outperformed all other property types with 622,925 SF of absorption. Although warehouse and distribution space continues to be absorbed, this category maintains a 12.9 percent vacancy, providing ample opportunity throughout the central Arkansas market.”
“The largest blocks of industrial space continue to be in the eastern boundaries, followed by North Little Rock and Jacksonville," said Hanson. "The lowest vacancy rate recorded for the quarter was 2.1 percent in the west submarket. Although we anticipate a few sizable buildings will become available in 2017, we expect the positive trend to continue.”