The commercial real estate market in Central Arkansas remained steady in 2024, with slight fluctuations in vacancy rates across office, industrial, and retail sectors. According to a report from Colliers Arkansas, the office vacancy rate ended the year at 11.1%, slightly lower than 2023, with significant sales and leases in west Little Rock and downtown. The industrial market saw a slight uptick in vacancies, ending at 4.8%, while the retail market experienced a rise to 6% due to big box vacancies.
Experts from Colliers Arkansas provided commentary on the market trends, with predictions for 2025. Greg Joslin, focusing on the office market, expects stability as the “return to the office” shift competes with reductions in square footage requirements. Drew Holbert, in the industrial market, notes that opportunities can shift with a few big projects, particularly in the big box space. Lee Strother, analyzing the retail market, highlights strong growth in certain areas and an increase in food and beverage operators.
Overall, the commercial real estate market in Central Arkansas is described as healthy, with pockets of growth and opportunities for investors and tenants. The report suggests that the market will likely see continued stability and growth in the coming years. For more detailed information, the full report from Colliers Arkansas is available for review.
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