ARKANSAS BUSINESS PUBLISHING GROUP Arkansas Business Lease Guide OFFICE | RETAIL | INDUSTRIAL• 2017 LITTLE ROCK • MAUMELLE • NORTH LITTLE ROCK • SHERWOOD BENTON • BRYANT • CABOT • CONWAY • JACKSONVILLE Supplement to Arkansas Business • Vol. 34 No. 25, June 19, 2017 • ArkansasBusiness.com/LeaseGuideListings 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 2 201 7 • Office / Retail / Industrial / Lease Guide TABLE OF CONTENTS PUBLISHER: Mitch Bettis EDITOR: Todd Traub ON THE COVER: ART DIRECTOR: Joseph Stout Simmons Tower retail space EDITORIAL: WRITER: George Waldon; RESEARCHER: Roxanne Jones; SALES: in downtown Little 31 RETAIL OCCUPANCY GUIDE VICE PRESIDENT OF BUSINESS SALES: Rock. Photo by Bonnie Jacoby; SENIOR ACCOUNT Retail Holding Pattern EXECUTIVES: Rosemary Bruton, Greg Jason Burt. 32 Churan; ACCOUNT EXECUTIVES: Scott Haggard, Michael Johnson, Myles Refl ects Transitions in Market McDougal: OPERATIONS SPECIALIST: BENTON, BRYANT, CABOT Annette Terrell; ADVERTISING COOR- 34 DINATORS: Bethany Johnson, Jessica 4 Editor's Letter CONWAY, JACKSONVILLE Pridmore; MARKETING: DIRECTOR 35 OF MARKETING & DIGITAL SALES: 8 Greater LITTLE ROCK-DOWNTOWN, LITTLE ROCK-EAST, Jake Sligh; EVENTS MANAGER: Alex 36 Howland; MARKETING & RESEARCH Little Rock LITTLE ROCK-MIDTOWN MANAGER: Devan Elbert; DESIGN: Area Map PRODUCTION MANAGER: April Scott; 37 LITTLE ROCK-SOUTH ART DIRECTORS: Erin Lang, Dean Wheeler; SENIOR DESIGNERS Omar 38 LITTLE ROCK-SOUTHWEST, LITTLE ROCK-WEST Alonso, Vince Palermo; DIGITAL OPERATIONS SPECIALIST: Rebekah 40 MAUMELLE, NORTH LITTLE ROCK Eveland; CIRCULATION: CIRCULATION MANAGER: Dana Meyer; CIRCULATION 42 SHERWOOD COORDINATOR: Shannon Ponder; CUSTOMER SERVICE REPRESENTA- TIVE: Sarah Clark; ADMINISTRATION: ACCOUNTING MANAGER: Hal Lammey; ACCOUNTING SUPERVISOR: Kim Clark; offi cespace industrial space HUMAN RESOURCES: Bill Page; EXECU- TIVE ASSISTANT: Kristen Heldenbrand 9 OFFICE OCCUPANCY GUIDE 43 INDUSTRIAL OCCUPANCY GUIDE CHAIRMAN & CEO: Olivia Myers Farrell; Offi ce Sector On Slow, PRESIDENT: Mitch Bettis; EXECUTIVE 10 Activity, Low Vacancy DIRECTOR OF CUSTOM SOLUTIONS: Positive Curve 44 John Tucker; CONSUMER PUBLICA- Add Up To Hot Market TIONS PUBLISHER: Rachel Pitre; SOI- 12 BENTON, BRYANT, CABOT, CONWAY REE PUBLISHER: Mandy Richardson; 46 BENTON, CABOT, CONWAY, JACKSONVILLE, ONLINE EDITOR: Lance Turner 13 LITTLE ROCK-DOWNTOWN LITTLE ROCK-DOWNTOWN ©2017 Arkansas Business Limited Partnership 16 LITTLE ROCK-EAST, MIDTOWN, SOUTH 47 LITTLE ROCK-EAST, MIDTOWN 18 LITTLE ROCK-SOUTHWEST, WEST 48 LITTLE ROCK-SOUTH, SOUTHWEST 26 MAUMELLE, NORTH LITTLE ROCK 49 LITTLE ROCK-WEST, MAUMELLE, NORTH LITTLE ROCK 28 SHERWOOD 50 SHERWOOD Comprehensive lighting solutions LED Energy-saving replacements and retrofit kits Visit our showroom and website for lighting design that will enhance quality of life, while saving energy. Electrical, lighting and a whole lot more... 9221 Maumelle Blvd. | North Little Rock, AR 72113 | 501-758-5483 | www.tecelectric.com ArkansasBusiness.com/LeaseGuideListings 3 FROM THE EDITOR Mix Of Markets Reveals Retail Scene In Transition Dear readers, OFFICE VACANCY RATES percent during the first quarter of 2017, an increase from 7.2 percent in 2016. A look at the trends and vacancy rates in 2015 8.5% our three areas of interest — office, retail The vacancy rate in the industrial sector and industrial space — shows a mix of hot 2016 7.2 % dropped to 9.6 percent in the first quarter and cool markets. of 2017, with local experts describing the 2017 7.8 % market as “hot.” But perhaps nothing is more interesting than what’s happening in retail, a market RETAIL VACANCY RATES Plenty of activity and low vacancies are that is definitely in transition. As brick strengthening the market, which showed and mortar locations compete with online 2015 6.3% vacancy rates of 11 percent and 10.5 entities to attract shoppers, people are trying percent, respectively, in the first quarters of to figure out what the shopping experience 2016 4.9 % 2016 and 2015. of the future is going to look like for Without a lot of product on the market the consumers. 2017 5.7 % time appears ripe to build, as most of the Trends show nontraditional tenants nicer, newer industrial space is already taken. — schools, medical clinics, interactive INDUSTRIAL VACANCY RATES At least that appears true when it comes to entertainment — are filling the empty 2015 10.5 % facilities ranging from 3,000 to 20,000 SF. spaces that were once homes to retail In this year’s Lease Guide veteran Arkansas stalwarts like clothing and accessory 2016 11 % Business writer George Waldon offers stores. Some retailers are finding new a snapshot of all three central Arkansas opportunities in smaller to medium-sized 2017 9.6 % markets to provide some meaning behind markets that don’t require huge volume to the numbers. make an acceptable profit. 0 2 4 6 8 10 12 We also hope you’ll use the comprehensive Brooke Miller, a partner with Flake & Retail occupancy in central Arkansas listings, again provided by Xceligent, to Kelley Commercial, says her firm, for declined to 94.3 percent during the first navigate the waters and find the right space example, works with local building owners quarter compared to 95.1 percent a year ago. and location for your own business needs. and city leaders to find second generation space in good locations at low rents. According to the Central Arkansas To update listings, resolve omissions or Commercial Data Exchange there was 1.2 correct errors please contact Dannelle She notes a “bleak picture” being painted million SF of vacant retail space during Allen at [email protected] or in the media but says all is not lost. Miller the first three months of 2017. Total space (816) 427-9202. Recommendations for points out that some retailers are seeing the among the 426 retail projects in the market improvements or inclusions are welcome environment as favorable and says specific was close to 21.3 million SF. at [email protected] or by calling (501) Flake & Kelley clients had no closings and 372-1443. close to 200 openings in 2016. In 2015, the vacancy rate rose to 6.3 percent after reaching 5.2 percent during the first Thank you for reading, As the retail landscape continues to shift, quarter of 2014. people are looking to marry innovative Sincerely, ideas with existing space. In a sign of While the retail market is in flux, the office interest in commercial real estate, Miller and industrial markets show stability and noted that a record number of exhibitors activity. registered for the International Council of On the office front, demand and available Todd L. Traub Shopping Centers (ICSC) RECon, the space are combining to create slow but world’s largest real estate convention, in positive movement. The vacancy rate in the Las Vegas in late May. Pulaski County office market was near 7.8 4 201 7 • Office / Retail / Industrial / Lease Guide OPTIMIZINGOPTIMIZING BUILDING BUILDING PERFORMANCE PERFORMANCE DOES MORE PERFORMANCEPERFORMANCE CONTRACTING CONTRACTING LIGHTINGLIGHTING Commercial Contractor Voted “Best General Contractor” by Arkansas Business Readers in 2016 Machinery Movers & Installers, Expert Riggers SOLARSOLAR WATERWATER CONSERVATION CONSERVATION Asbestos & Mold Remediation, Phase I & II Environmental Site Assessments Excavation, Road & Utility Work ENERGYENERGY SERVICES SERVICES SUSTAINABILITYSUSTAINABILITY Building Retrofits & Facility Maintenance 501.505.5800 www.nabholz.com www.entegritypartners.comwww.entegritypartners.com Contact Jeff Yates: 501.352.3325 • [email protected] • www.ARKcire.com 800 FAIR PARK PLAZA WEST BUILDING DOCTORS BUILDING MIDTOWN MEDICAL PARK ArkansasBusiness.com/LeaseGuideListings 5 Our Business is Your Business For Lease: Retail Space For Lease: O ce Space > Be a part of Little Rock’s newest > Convenient WLR location shopping destination: Creek Plaza at > Easy on/o I-430 & I-630 Gateway Town Center > Underground parking available > Retail suites: 2,000 - 11,500 SF > Ample surface parking > Tenant improvement incentives available > On-site banking > New construction with Q4 2017 delivery > Executive suites available > Excellent restaurant with outdoor patio available Contact: Mason Lewis, 501-372-6161 > Adjacent Bass Pro Shops, Dave & [email protected] Buster’s and Arkansas’ only outlet mall Mark Bentley, 501-372-6161 Contact: Isaac Smith, 501-372-6161 [email protected] Creek Plaza [email protected] BASS PRO PKWY, LITTLE ROCK One Financial Lee Strother, 501-372-6161 650 S SHACKLEFORD RD, LITTLE ROCK [email protected] For Lease: O ce Space For Lease: O ce Space > Available o ce sizes: 396 - 8,000 SF > O ce suites up to 12,000 SF > Free surface parking > Underground parking > Easy access to downtown, west Little > After-hours controlled access Rock, and I-630 > Fiber optics available > On-site banking services with drive-thu > On-site access to shops, restaurants, > New elevators, conference center, video orist, banking and business services conference and updated internet - up to > Floor plans on request 40x faster than basic broadband > Tenant improvement