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Real Estate & Construction

Community foundations kick off tax-credit drive

By JACK WEATHERLY If it sounds too good to be true, it probably is. So goes the axiom. Yet that leaves open the possibility that it can be true. The seven community foundations of Mississippi asked the Legislature for $2.5 million in tax credits over five years to start the Endow Mississippi Program. The full amount was approved in the ...

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BRIAN ESTES — What is the current state of the commercial real estate market?

In my last article I briefly discussed the current state of the commercial real estate market and pointed out a few things that could be done ahead of the potential commercial real estate (CRE) downturn.  As a real estate practitioner, I frequently get asked what the current state of the real estate market is.  There are hundreds of articles published ...

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Roy Anderson Corp. awarded Southland Gaming Casino and Hotel project

Tutor Perini Corporation, a leading civil, building and specialty construction company, announced today that its subsidiary, Roy Anderson Corp. (RAC), has been awarded a contract by Delaware North for the Southland Gaming Casino and Hotel Project in West Memphis, Arkansas. The contract value is approximately $200 million. The project scope of work includes an expansion to Southland Gaming and Racing ...

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BRIAN ESTES — Why property management should matter to high net-worth individuals

I have written several real estate articles on high net-worth individuals (HNWIs); however, I believe the subject of property management may be the most important topic I have discussed in regards to HNWIs or even high income individuals.  Generally speaking, high net-worth individuals struggle with making the decision to outsource property management to a third-party management company or to just ...

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Mississippi businesses say they are owed for work on dorm

Businesses on the Mississippi Gulf Coast say they are owed money for work they did on a dormitory that opened last year. The Sun Herald reports Phillips Building Supply is suing a Kentucky company for more than $109,000 for unpaid building materials. The Kentucky company, Encompass Develop, Design & Construct, was hired by a Mississippi company called Gulf Coast Student ...

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‘Final mile’ leads to profits for EastGroup

By TED CARTER mbj@msbusiness.com Jackson’s EastGroup Properties has discovered just how lucrative the “last mile” can be in the warehouse logistics business after deciding two decades ago to concentrate fully on building, buying and leasing business warehouse space across America’s Sunbelt. “Be quick or be broke” is the mantra of most tenants of EastGroup Properties as the tenants compete in ...

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House sales down in U.S., but up in Central Miss.

By JACK WEATHERLY jack.weatherly@msbusiness.com Sales of houses across the nation declined in March compared with a year earlier, while the opposite was true in central Mississippi. March was the eighth straight month of year-over-year national sales declines and sixth consecutive month of year-over-year inventory growth, according to the Re/Max National Housing Report issued Tuesday. Sales fell 8.6 percent last month ...

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An Approaching Presence: EastGroup 7th among U.S. REIT money makers

By TED CARTER mbj@msbusiness.com Sustained success leasing 42 million square-feet of warehouse distribution space in fast-growing Sun Belt markets has made Jackson real estate investment trust EastGroup Properties one of the nation’s best bets for a strong return on a REIT investment, rankings show. The enterprise that Jackson real estate investor Leland Speed established nearly 30 years ago has reached ...

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Health and safety conditions worsen in US-subsidized housing

In this city known for pre-Civil War mansions, a young mother shared a government-funded apartment with her three small children and a legion of cockroaches. They lurked in the medicine cabinet, under the refrigerator, behind a picture on the wall. The mother nudged a bedroom dresser and more roaches skittered away as her 2-year-old son stomped on them. It was ...

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Local REALTORS influence policy

Private transfer fees are fees charged to either buyers or sellers at the closing of a transaction each time a property is sold. These fees decrease affordability, increase potential liability and provide no benefit to the property sellers or buyers. They have also been called “harmful” by the National Association of REALTORS®, Mississippi REALTORS®, and Central Mississippi REALTORS®. HB 962, ...

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