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Commercial space tough to find in storm-ravaged towns.

Article Excerpt
MISSISSIPPI GULF COAST -- The status of commercial space here can be summed up in one phrase: there isn't enough. That's the story in all three counties with an availability situation made worse by Hurricane Katrina.

"The lack of space is the challenge for people to take advantage of the Gulf Opportunity Zone," said Mark Cumbest, broker/owner of Cumbest Realty in Moss Point. "Vacant properties that have been available for a long time are selling and small office and retail space are vanishing."

Cumbest, who is working as a broker to help businesspeople find space, says there's a wide variation in prices for space. It's still possible to get some retail space for as little as $6 per square foot in Jackson County, but the low for office/retail space for the most part ranges from $8 to a high of $20 per square foot.

"The demand has increased due to investors. I am currently working with clients and customers for industrial sites, apartments, warehouses and new subdivision developments," he...

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