Build or lease? New study may help guide state’s decisions

The Landmark Center at Capital and Lamar streets in downtown Jackson is the top candidate to house the Mississippi Department of Revenue. The state would lease the building under 20 to 40 year terms. The state, meanwhile, is awaiting a Cushman & Wakefield report weighing the benefits and disadvantages to leasing, buying existing buildings or erecting new ones to house new or expanded state agencies. Photo by Ted Carter

A facilities study that could guide the State of Mississippi’s policies for accommodating its office and other operational needs is expected to be completed before the Christmas holidays.

International commercial real estate firm Cushman & Wakefield is wrapping up work on the second part of a study whose initial phase led to a recommendation to move the Mississippi Department of Revenue into downtown’s Landmark Center, 175 E. Capital St. The new phases address whether the state should seek to lease, buy existing buildings or build new ones when new agencies are created or existing ones expand.

>> SEE FULL STORY <<