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Arkansas Business Publishing Group ARKANSAS BUSINESS PUBLISHING GROUP Arkansas Business Lease Guide OFFICE | RETAIL | INDUSTRIAL• 2016 LITTLE ROCK • MAUMELLE • NORTH LITTLE ROCK • SHERWOOD BENTON • BRYANT • CABOT • CONWAY • JACKSONVILLE Supplement to Arkansas Business • Vol. 33 No. 25, June 20, 2016 • ArkansasBusiness.com/LeaseGuideListings ARKANSAS CAPITAL COMMERCE CENTER 200 RIVER MARKET AVE TWO FINANCIAL CENTRE REGIONS CENTER 10825 FINANCIAL CENTRE PKWY 400 WEST CAPITOL AVE THE ARCADE MUSEUM CENTER 100 RIVER MARKET AVE 500 PRESIDENT CLINTON AVE Building a great city, one client at a time. Brokerage & Leasing Development Consulting Property Management Tenant / Landlord Representation Building Services Little Rock Office • 200 River Market Ave. #501 • Little Rock, AR 72201 • (501) 376-6555 Northwest Office • 745 East Joyce Blvd. #220 • Fayettevillle, AR 72703 • (479) 582-0000 www.mosestucker.com Union Plaza • Suites from 286SF - 3,128SF • On-Site Restaurant, U.S. Post Office, and Convenience Store • Common Area Break Rooms and Conference Rooms • Premium Parking • 24 Hour Security • First Class Maintenance Staff • On-Site Management On-Site Management by For Leasing Information Contact Jennifer Lester at Union Plaza Commercial Real Estate 501.801.0208 • [email protected] 124 West Capitol Avenue • Little Rock, Arkansas 72201 Visit Us On The Web at www.unionplazabuilding.com RETAIL SPACE 37 RETAIL OCCUPANCY GUIDE PUBLISHER: Mitch Bettis Contents EDITOR: Todd Traub Construction, Ownership Changes ART DIRECTOR: Joseph Stout ON THE COVER: 40 EDITORIAL: WRITER: George Waldon; The Regions Center Mark Shrinking Retail Market RESEARCHER: Roxanne Jones; SALES: in downtown Little VICE PRESIDENT OF BUSINESS SALES: 42 LITTLE ROCK - Downtown, East, Midtown Bonnie Jacoby; SENIOR ACCOUNT Rock. Photo by 43 LITTLE ROCK - South EXECUTIVE: Rosemary Bruton; AC- Jason Burt. COUNT EXECUTIVES: Greg Churan, 44 LITTLE ROCK - Southwest Scott Haggard, Ashton Hodges, Michael Johnson, Myles McDougal, Kristi Pat- 45 LITTLE ROCK - West ton: OPERATIONS SPECIALIST: Annette MAUMELLE Terrell; ADVERTISING COORDINATORS: 49 Bethany Johnson, Jessica Pridmore; 50 NORTH LITTLE ROCK MARKETING: DIRECTOR OF MARKET- ING & DIGITAL SALES: Jake Sligh; 6 EDITOR’S LETTER 53 SHERWOOD MARKETING DIRECTOR: Leslie Gordy; EVENTS COORDINATOR: Alex Howland; 8 GREATER LITTLE ROCK 54 BENTON MARKETING & RESEARCH MANAGER: AREA MAP 55 BRYANT, CABOT Devan Malone; DESIGN: PRODUCTION MANAGER: April Scott; ART DIRECTORS: 56 CONWAY Erin Lang, Dean Wheeler; SENIOR DE- SIGNERS Omar Alonso, Vince Palermo; 59 JACKSONVILLE DIGITAL OPERATIONS SPECIALIST: Rebekah Eveland; CIRCULATION: CIRCULATION MANAGER: Dana Meyer; OFFICE SPACE CIRCULATION COORDINATOR: Carla INDUSTRIAL SPACE Smith; ADMINISTRATION: ACCOUNTING OFFICE OCCUPANCY GUIDE MANAGER: Hal Lammey; ACCOUNTING 13 SUPERVISOR: Kim Clark; HUMAN 61 INDUSTRIAL OCCUPANCY GUIDE RESOURCES: Bill Page; EXECUTIVE AS- 14 Positive Numbers Provide Pleasant SISTANT: Kristen Heldenbrand Improved Activity Not Yet Surprise On O ce Front 62 CHAIRMAN & CEO: Olivia Myers Farrell; PRESIDENT: Mitch Bettis; EXECUTIVE Triggering Industrial Construction 16 LITTLE ROCK - Downtown DIRECTOR OF CUSTOM SOLUTIONS: 64 LITTLE ROCK - Downtown, East John Tucker; CONSUMER PUBLICA- 20 LITTLE ROCK - East, Midtown TIONS PUBLISHER: Rachel Bradbury; 21 LITTLE ROCK - South 65 LITTLE ROCK - Midtown ONLINE EDITOR: Lance Turner 22 LITTLE ROCK - Southwest, West 66 LITTLE ROCK - South ©2016 Arkansas Business Limited Partnership 28 MAUMELLE - NORTH LITTLE ROCK 68 LITTLE ROCK - Southwest, West 30 SHERWOOD 69 MAUMELLE, NORTH LITTLE ROCK 31 BENTON - BRYANT 72 SHERWOOD, BENTON, BRYANT 32 CABOT - CONWAY 73 CABOT, CONWAY 33 JACKSONVILLE 74 JACKSONVILLE NEED LED? WE’VE GOT YOU COVERED. Juno Lighting LED RETROFIT FOR DOWNLIGHTS Electrical, Lighting and a Whole Lot More... CALL US FOR DETAILS! 9221 Maumelle Blvd | North Little Rock, AR 72113 | 501-758-5483 | www.tecelectric.com 4 201 6 • Offi ce / Retail / Industrial / Lease Guide Located in the heart of the Central Business District near Federal, County and State governmental offices, the State Capitol, the Presidential Clinton Library, the River Market, banks, restaurants and other Downtown Destinations, Simmons Tower is the premier Class A office building in Arkansas. l Cornerstone of the l Shared conference facilities Financial Quarter available l Exclusive high-rise views l High performance fiber l Locally owned and owner- optic technology occupied l On-site 24-hour security l Floor-to-ceiling windows l Attached parking garage For Leasing Information, Please Contact: BILL PENDERGIST or JOEY DEAN 501-375-3200 [email protected] [email protected] www.flakeandkelley.com Level 2 Business Suites Located in the Simmons Tower Flexible Lease Terms Broadband Internet Conference Rooms Great Visibility Fitness Center Bike Storage Easy Access For more information, please contact Kelley Hammond phone: 501.375.3200 email: khammond@@akeandkelley.com ArkansasBusiness.com/LeaseGuideListings 5 Central Arkansas Retail Space Vacancy Rates Rise From the Editor 8% 7% 6% Dear readers, hands in Little Rock alone. 5% RETAIL It’s been a mixed outlook for retail, As 2016 began, the national 4% RETAIL VACANCY RETAIL construction industry was preparing 3% VACANCY industrial and o ce space in the VACANCY to grapple with certain trends ranging central Arkansas market, but while 2% 5.2% 6.3% 4.7% certain indicators show di erent from skilled labor shortages to the use 1% increase increase decrease levels of activity, all signs in the post- of new technologies and the continued 0 popularity of green building. 1st Quarter 1st Quarter 1st Quarter recession lease market show positive 2014 2015 2016 movement. Trends to watch that may a ect Source: Arkansas Business May 18, 2015. New construction and falling the commercial real estate market, vacancy rates on the retail front according to National Real Estate mean more shopping and dining Investor, include urbanization 88.7% 91.5% 92.8% 1st Quarter 1st Quarter 1st Quarter opportunities in the central Arkansas (especially among millennials); 2014 2015 2016 area. From Benton to Conway and a hike in interest rates; increased points in between, new stand alone international capital ows into U.S. stores as well as shopping centers show real estate; continued stress on U.S. national retailers are taking an interest retail and continued retail shifts; in our neck of the woods and looking continued limited supply additions for the best combination of location in most real estate markets and and opportunity. lower energy prices. e activity caused the rst-quarter Certainly it will be interesting vacancy rate to fall to 4.7 percent after to see how these various climbing from 5.2 percent in 2014 to factors combine to a ect 6.3 percent in 2015. construction and available space in Arkansas’ markets for the Transactions and new tenants on 89.2% remainder of this year and beyond, but 1st Quarter the o ce space front so far this year 2015 as you navigate this new landscape we 89.3% 89.3% re ect a mildly surprising upward 1st Quarter 1st Quarter 2014 2016 trend in occupancy. In 2014 the hope you’ll continue to rely on Lease occupancy rate was 88.7 percent in the Guide to help you nd the right space rst quarter, 91.5 percent in the rst to suit your needs. quarter of 2015 and 92.8 percent in In these pages our veteran writer the rst quarter of this year. George Waldon provides updates on ere is less new construction on the trends and new construction in, the industrial front, where occupancy around and near Little Rock, and rates remain around 90 percent. After you can check out our comprehensive showing 89.3 percent occupancy the listings, provided as always by rst quarter of 2014 and 89.2 percent Xceligent, to nd the right space, the rst quarter of last year, this location and amenities for your year’s occupancy rate through the rst business or o ce. quarter was 89.3 percent. To update listings, resolve ank you for reading, With new construction stagnant omissions or correct errors please Sincerely, in the industrial market, most of contact Dannelle Allen at Dallen@ the activity has come in the form of xceligent.com or (816) 427-9202. transactions in a seller’s and landlord’s Recommendations for improvements market. Four transactions in the rst or inclusions are welcome at Todd Traub, Editor quarter resulted in more than 300,000 [email protected] or by calling SF of warehouse space changing (501) 372-1443. 6 201 6 • Offi ce / Retail / Industrial / Lease Guide Xceligent is Arkansas’ Building Data Source. COMPREHENSIVE PROPERTIES & LISTINGS SALES COMPARABLES TRUE OWNERS VERIFIED TENANTS LEASE COMPARABLES ADVISORY BOARD CERTIFIED NATIONAL DATA We build and maintain comprehensive commercial real estate data so you don’t have to. XCELIGENT.COM GREATER LITTLE ROCK AREA COMMERCIAL REAL ESTATE MARKET Bill and Hillary Clinton National Airport Source: Central Arkansas Commercial Data Exchange DOWNTOWN LITTLE ROCK extends west to the state Capitol, east to WEST LITTLE ROCK’s eastern boundary is roughly Mississippi Avenue, and this Interstate 30, north to the Arkansas River and roughly Interstate 630 to the south. large area extends north to Cantrell Road/U.S. Highway 10 and south to Colonel Glenn Road. EAST LITTLE ROCK ’s western boundary is Interstate 530, and it extends north to the Arkansas River, south past Interstate 440 and east to U.S Highway 165. MAUMELLE , whose main corridor is Maumelle Boulevard, lies north of the Arkansas River and is bordered
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