Little Rock is the state capital and largest MSA in Arkansas with a population of 757,615. Conveniently located within a 550-mile radius of 40% of the U.S. population, Little Rock is known for its Advanced Manufacturing, Aerospace, Innovation, Banking & Finance, Medical, and Military industries. Companies such as L’Oreal USA, Dillard’s, Tractor Supply, Dollar General, and Dassault Falcon Jet all have a presence in Little Rock, and 4 major healthcare companies (University of Arkansas for Medical Sciences, Baptist Health, Arkansas Children’s Hospital, and CHI St. Vincent) provide over 2,600 hospital beds. University of Arkansas at Little Rock, along with University of Arkansas for Medical Sciences, anchor the region’s higher education. Former Arkansas Governor and U.S. president Bill Clinton has also left his mark on the area. The Clinton National Airport serves 6 commercial airlines, while the William J. Clinton Presidential Library is the largest presidential library in the United States.
Multifamily Highlights
Apartment Market Overview:
280
Apartments (50+ units)
49,739
Total Units (50+ units)
$1,010
Avg. Asking Rent
4.66%
Rent Growth (Previous 12 Months)
91%
Occupancy
12-Month Sales:
$523M
12-month Sales Volume ($)
4,689
12-month Sales (Units)
25
12-month Sales (# of transactions)
Development Pipeline:
9
Properties Under Construction
2,256
Units Under Construction
Economic Development
Multiple employers across multiple industries are making investments in Little Rock. Tractor Supply is under construction on a 1.2 million SF, $128 million distribution center that is anticipated to create 500 jobs and open by the end of 2023, while Dollar General is under construction on a $140 million distribution center in North Little Rock that is anticipated to create 300 jobs and open in April 2024. Although the project has been delayed, recycling company Trex Co is planning to start a $400 million recycling and production campus in 2026. Ammunition maker Fiocchi is investing in a 281-acre, $42 million facility at the Port of Little Rock.
In the technology space, Sequretek is planning on opening its U.S. headquarters in Little Rock, anticipated to employ 50 people with the majority earning six-figure salaries. And Little-Rock based tech firm Apptegy is in the process of expanding its operations and hiring for 300 new positions.
GoTextbooks ($10 million / 200 jobs) and Bryce Corporation ($80 million / 142 jobs) have also recently made investments into Little Rock.
To view additional updates on the Little Rock market, please visit our Little Rock Market News page:
Nick is originally from Senatobia, MS and attended Christian Brothers University where he studied Accounting. He has been a Broker with TKC since 2016 and loves getting to see the growth over economically diverse markets and the challenges that accompany being a Broker.
Will Beasley
Broker
Will Beasley
Broker
Email: wbeasley@thekirklandco.com
Phone: 615-428-5064
Will is from Nashville, TN and attended the University of Mississippi. He loves being able to connect and build relationships with clients on both the buyer or seller side.
Val Smith
Broker
Val Smith
Broker
Email: vsmith@thekirklandco.com
Phone: 901-552-6181
Val grew up in Memphis, TN and attended the University of Alabama where he studied Political Science and History. Val has been interested in real estate from a young age due to his family’s background in the industry, and has loved building his career with TKC.
Sources & Comments
1. Little Rock-North Little Rock-Conway, AR Metropolitan Statistical Area consists of 6 counties, according to Office of Management and Budget: (1) Faulkner (2) Grant (3) Lonoke (4) Perry (5) Pulaski (6) Saline
3. This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy.
