Jackson’s Retail Market on Cruise Control as It Drives Into Expansion Phase

It’s safe to say that the Jackson MSA, as a whole, responds slower to national trends than the vast majority of markets in the United States. In regards to the economic recovery, Jackson is about two years behind the national economy post-recession. The retail market is just now moving from the recovery phase and into the expansion phase of its growth cycle, which is evidenced by decreasing vacancy rates and stabilizing lease rates.[caption id="attachment_205078" align="alignright" …

Public/private deals keep market moving.

The Jackson office market remains strong, with occupancy rates of 81 percent and average rental rates of $19 per square foot. As the state capital, government is the driving force for local real estate, and recently, the public sector has been working with private developers to establish partnerships. With more than $600 million in private and public development during the last couple of years in the CBD, companies are intrigued by downtown’s revitalization. The King Edward restoration …