The total vacancy rate for office real estate in the central Arkansas market remained flat during the first quarter of 2013, hovering at 12 percent, just a slight dip from 12.1 percent in the previous quarter.
“Office leasing activity has picked up some in recent months. I would anticipate additional absorption in the next quarter,” said Daryl Peeples, president, principal broker and partner at Flake & Kelley Commercial of Little Rock.
“We have not had a large number of expansions of existing tenants in the market or significant job growth regionally or nationally that would bring new tenants to the market. Tenant movement has been primarily from one building to another within the market,” said Peeples.
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