Report: Vacancy Rate for Industrial Space in Little Rock Drops in 3Q

The vacancy rate for industrial space in the Little Rock metropolitan area declined to 14.6 percent during the third quarter. That compares to 17.1 percent a year ago.

Little Rock was one of only two markets recording improved industrial occupancy among 55 markets, according to the third quarter industrial report from Colliers International, the global real estate services firm.

That movement represents an inverse change on the national level. The average vacancy rate for U.S. industrial space climbed from more than 8.6 percent in September 2008 to more than 10.5 percent, a new high for the decade.

The September 2009 figure marks the eighth consecutive quarter of increasing vacancy. The cyclical low for industrial vacancies had previously stood at 7.9 percent; and from one year ago, the U.S. industrial vacancy rate has increased by 1.9 percentage points.

Indianapolis was the only other market recording a 12-month decline, moving from 7.5 percent to 7.4 percent.

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