Thinking about devoloping new office space in North West Arkansas? You might think again. According to the Reed Report (mid 2006), office space in NWA is not in short supply.
Vacancy for this type of space is currently averaging around 15% with an average asking price of $15.93sf. These figures may raise questions with investors as whether to devote their dollars to retail projects instead.
Retail space in this section of the state seems to be holding stronger with an average vacacy of 7.2% and an average asking price of $13.50sf.
At any rate, NWA continues to be a strong market for real estate development, but leads investors to wonder; How long can it last?