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Q1 2020 Central Arkansas Market Report

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Steady activity across all sectors - until we had to hit pause

The first quarter of 2020 saw steady activity across all sectors of the industry - with most office, and generally all retail transactions, hitting the pause button at the end of March due to the outbreak of Covid-19. Prior to that we saw good activity with the west Little Rock submarket leading the way with more than 200,000 SF in total sales. Retail sales and office leasing were prominent standouts in Q1, while lease rates across all sectors remained steady through the quarter. The industrial sector had a good quarter with the announcement of Amazon’s lease of 250,000 SF in the South submarket and the groundbreaking on development of a 3,000,000-SF fulfillment center in the Port of Little Rock. We expect downward movement on lease rates by the end of Q2 and well into Q3 as property owners look to fill a significant amount of vacancy brought about by the pandemic, with retail and office rates taking the largest reduction in price per square foot.

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Q1 2020 Cover Photo

Q1 2020 Central Arkansas Market Report

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