Lease Guide Lists 2.1 M in Available SF

There are 202 individual spaces listed in the Northwest Arkansas Business Journal’s annual Commercial Lease Guide with a total of 2.13 million SF of commercial lease space available.

Of the 2.1 million SF, 456,684 SF is located in Bentonville. Fayetteville has 677,643 SF of available space, while Rogers has 620,509 SF. There are 302,472 SF of available space in Springdale.

According to the lease guide, the average maximum lease rate for Bentonville is $15.27. The average maximum lease rate for space in Fayetteville is $17.70. Rogers has an average maximum lease rate of $15.50 and the average maximum lease rate in Springdale is $9.38.

The guide is not representative of all of the available lease space in Northwest Arkansas, as some firms did not submit their listings. Mathias Properties Inc. of Springdale, which reported 254,936 SF of available space in last year’s guide, did not submit their listings. Nor did Pinnacle Investments of Rogers, which reported 42,105 SF of available space in 2008.

Of the firms that participated, Steve Fineberg & Associates had the most listings with 54 spaces listed for a total of 527,887 of available SF. Colliers International reported 372,279 of available SF. Flake & Kelley Commercial had 298,042 in available SF and Sage Partners had 254,245 SF. Grubb & Ellis/Solomon Partners reported 227,623 in available SF.

Of the properties listed, 113 were office spaces,  37 were retail spaces, 17 warehouse spaces and 29 mixed-use spaces.

(Also see the Northwest Arkansas Business Journal’s Commerical Lease Directory.)