Market Update

As quarter three comes to an end and we move into quarter four here are a few things to know about what’s happening in commercial real estate throughout the state of Arkansas.

New job opportunities are coming around which only means growth in population for cities. With this, multifamily is selling quickly and new developments are on their way throughout the state. Now would be the perfect time to start investing into multifamily and be apart of the development process.

Industrial properties are becoming harder and harder to find throughout the state due to businesses growing and the flexibility the space gives. A few developers have sought out land to start a couple industrial parks in East Village and North Little Rock to help businesses find the spaces that are needed.

The retail industry continues to struggle with vacancies. The state of Arkansas has 14% lacking in this area, and it's led by the restaurant sector. There may be some good news on the horizon for the Riverdale and Breckenridge Village area. Soon enough the new developments will be brings more customers into these areas and may help bring down the percentage.

The changing dynamics of our society has caused many changes within both business owners' needs as well employees’ preferences when looking at jobs opportunities. With the world continuing to normalize, businesses are emerging and taking up space. This is leading office buildings in breaking their larger spaces into smaller ones so they can target these new companies with specific needs for their building facilities - like flexible leasing options or amenities tailored towards entrepreneurs.

The future of Arkansas is very promising and we're continuing to see new developments happen. The world continues its effort in trying normalize, which will only bring more opportunities into play for those who invest early on!