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Excessive tenant improvements? Free rent? Not in metro Jackson.

Publication: Mississippi Business Journal
Publication Date: 28-JUL-03
Format: Online
Delivery: Immediate Online Access
Full Article Title: Excessive tenant improvements? Free rent? Not in metro Jackson.(Metro Jackson)

Article Excerpt
Office rental rates in metro Jackson have remained steady for the last year, despite the departure of white-collar jobs and the addition of 47,137 square feet of office space added to the market in the first quarter of 2003.

According to a report released in April by Parkway Realty Services, rental rates for the 6.9 million square feet of office space in metro Jackson averaged $16.41, with a vacancy rate of 9.2%. Class A space totaled 4.4 million square feet.

Metro submarkets

The Central Business District (CBD), with 3.17 million square feet of office space, reported the lowest vacancy rate (6.83%), with an average rental rate of $16.18. Of that, 2.2 million square feet is rated Class A, with an average rental rate of $18.37.

The County Line/I-55 Corridor, with 1.6 million square feet of office...

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