MBJ February 21, 2020 E-Edition

INSIDE — Home builder confidence high, but cost and availability of homes are issues, Page 19 DINING

www.msbusiness.com

Feb. 8 - Feb. 21, 2020 • Vo. 42 No.4 • 28 pages

Elvie’s keeps it simple and elegant

— Page 9

MBJ FOCUS

Business Woman of the Year

{Section begins P10} » Overview with winner » Top 10

Real Estate/ Construction

Sponsored by

{Section begins P18} » Property management firms » General contractors » Largest shopping centers

{The List P16, 24-27}

» Emily Lauder named the Mississippi Business Journal’s Business Woman of the year for 2020.

http://msbusiness.com/best-places-to-work/

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NEW BUSINESS

Her dream realized: Independent pharmacy opens in Jackson

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Whitney Harris is living her dream. And she is fully awake to the challenges.

Harris opened her pharmacy, District Drugs and Mercantile, in the District at Eastover last week.

It’s an independent in the era of the chain pharmacy.

After her postgraduate pharmacological education, she put in four and onehalf years at an indie, Beemon Drugs in the Maywood Mart on Northside Drive, which was bought out by a big chain, CVS Pharmacy.

That left Jackson without an independent pharmacy.

So what?

What’s what is that indies pride themselves in personalized service.

The number of independents has fallen to about 385 in Mississippi, driven in large part by the bankruptcy of Fred’s last year, according to the state Board of Pharmacy. Fred’s, a Memphis-based chain with roots in Mississippi, had built its pharmacy presence by buying independents. Between 2009 and 2019, 189 independents and 158 chain pharmacies closed in MIssissippi, with 55

of the chain pharmacies being shuttered in the first round of Fred’s closures.

Nationally, there were 21,909 indies as of 2017, down from 23,106 in 2011, according to the National Community Pharmacists Association.

Chris Paddington of A.T. Kearney, a global management firm, expects the decline to continue. “Many independent operators are older and looking for an exit, while younger pharmacists are less attracted to the risk and return of ownership,” Paddington said in an interview.

That is half right about Beemon Drugs, whose owner, Lester Hailey, shut the doors

“Many independent operators are older and looking for an exit, while younger pharmacists are less attracted to the risk and return of ownership” on the north Jackson icon on June 25, 2019 after 63 years in business and retired.

CVS bought the Beemon accounts, Harris said.

After the initial disappointment of the closing – “we cried for two weeks,” Harris

Photo by Jack Weatherly/MBJ

Whitney Harris beams about her new drugstore.

said — it struck her that here was an opportunity to realize a long-held dream.

It has been part of a plan that she developed through her seven-year doctoral program at the University of Tennessee at Memphis School of Pharmacy, serving her residency there in community pharmacy.

She is still on the staff of the University of Mississippi School of Pharmacy.

Most of the former Beemon’s customers, who “are like family,” have moved their business to District Drugs, she said.

Much of the business for the new pharmacy is coming from the 260-unit District Lofts, she said.

And the pharmacy offers a 24-hour line for free delivery, from as close as the Lofts to anywhere in metro Jackson within reason, she said.

Harris obviously does not do it alone.

She has nine employees working in the airy space she had Wier Boerner Allin Architects design for her, including another full-time pharmacist and her mother, who works the counter.

Stacie Crim, who was a pharmacist for Beemon’s alongside Harris and started her career in 1983 but who is not currently working with Harris, said: “I’m real excited for Jackson to have an independent pharmacy.”

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DINING

Mississippi-owned honey biz creating quite the buzz There’s more to do with it than put it on a biscuit,” he said.

It takes Reeves about a year to develop new flavors to meet his standards. “We’re constantly looking at new recipes for infusing,” he said. “I’m working on new recipes that are going to come out sometime this summer.”

The standard honey sells for $16 per 12-ounce jar. The infused honey, sold in small glass tubes, costs $8 for 1.5 ounces.

The products sell out regularly, he said.

Gold Tap Honey is sold mostly online to customers “from one coast to the other,” Reeves said. There are a few local outlets on the Coast now, with more to be added.

As the honey business continues to grow, Reeves said he’s looking at other related ventures to develop, including a graphic novel for kids and maybe a beer.

By LISA MONTI mbj@msbusiness.com Joshua Reeves started on the path to beekeeping about 10 years ago in Ohio, where he and his wife bought a two-acre “hobby farm.” That’s a farm with chickens and such, “but not enough to make a living off of,” Reeves said.

The Lucedale native, who has a business management degree, was making an actual living as a production supervisor after serving in the Air Force and trying nursing school. Reeves, his wife Ginny and their children, Amy and Austin, settled into their farm home. Built in 1834 that came with the second-oldest barn in the county. “We had all kinds of animals,” he said, “pigs, goats, ducks, cows.” The couple wanted the farm to supplement the nutritious food they bought in the store.

Reeves had no farming experience so he sought out local mentors for help to get him started and one introduced him to beekeeping. The science side of raising bees especially interested Reeves and aligned with his goal of healthy eating.

Honey was the perfect choice to replace processed sugar in the family’s diet.

In his research, Reeves learned at A.I. Root, a pioneering beekeeping company, under Kim Flottum, a leading authority on bees and beekeeping.

When the family moved back to the Mississippi Coast a couple of years ago, Reeves thought about opening an aquaponics farm in the Carriere community of Pearl River County but his father steered him toward beekeeping, given Reeves strong interest.

“We created a little business for fun called J&J Bees and Trees,” Reeves said.

The citrus trees they planted soon died but the bees thrived. “I knew bees,” he said. “I didn’t know anything about trees.”

The venture grew over time with the addition of hives. “We changed the name to Gold Tap and turned it into a real business,” he said. Producing high-quality honey was the goal.

“When I grew food on the farm for the family, it was about health and nutrition.

I decided to do the same for the bee business. It’s not mass production, it’s small batch, artisan high-quality honey.”

Reeves tends to the business on nights and weekends, working around his job as a NASA resource manager on an engine test stand at Stennis Space Center. He also relies on friend John Baum who works with the family business.

Gold Tap’s 30 hives are managed using strict techniques that Reeves said “set me apart from most.” The bees aren’t fed sugar water or manufactured pollen to speed up production, like mass producers use.

No harsh medicine is used to keep pests away from the hives, and the honey is never pasteurized. Reeves uses genetics to create more hives. “It’s incredibly simple. We don’t do a lot of hives and we make sure we can manage them,” he said.

Reeves said he can’t guarantee that everything his bees come into contact with within a two-mile radius of their secluded hives is pesticide-free so he doesn’t call his honey organic, but his practices are similar.

For all the seriousness Reeves puts into producing Gold Tap honey, there is a fun, edgy side to the small business. The slick marketing features Betty, a cartoon Queen Bee mascot drawn in the pinup tradition in a tip of the hat to his Air Force service.

In addition to the standard pure honey, Gold Tap sells cold infused honey in vanilla and chipotle flavors aimed at home mixologists and foodies who want a new experience and ingredient to try. White Pillars, a fine dining restaurant in Biloxi, uses Gold Tap to infuse the butter it serves. “This isn’t your grandpa’s honey.

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Halter Marine plans $10 million expansion, creation of 100 jobs Mississippi Entrepreneurship Forum set for April 2-3 in Vicksburg The 2020 Mississippi Entrepreneurship Forum, which brings together leading entrepreneurs, economic developers, innovators and future business owners to learn more about the entrepreneurial climate and the future of entrepreneurship in Mississippi, will take place April 2-3 at the Vicksburg Convention Center.

For the first time, the MEF will host a student business pitch competition on April 2. The competition is co-sponsored by Innovate Mississippi and Higher Purpose Co., and university students will submit their business ideas online through the forum’s website. The competition will convene at 2 p.m. Thursday and conclude at 6 p.m., with winners announced during lunch Friday.

Registration for the forum will be available from 2 to 5 p.m. April 2 and at 8 a.m. April 3 in the Vicksburg Convention Center.

On Friday, Vicksburg Mayor George Flaggs will provide opening remarks for the MEF, while Albert Nylander, director of the University of Mississippi’s McLean Institute for Public Service and Community Engagement, will deliver closing comments.

Sponsored by the McLean Institute, the MEF is part of the Catalyzing Entrepreneurship and Economic Development initiative, which is funded through the Robert M. Hearin Support Foundation.

Other sponsors include Mississippi State University, University of Southern Mississippi, Delta State University, Jackson State University, Mississippi College, Mississippi University for Women, Millsaps College and Belhaven University.

In its sixth year, the MEF provides working opportunities for aspiring business owners and existing entrepreneurs to share practical and useful information about building a business. The assembly also brings together the state’s institutions of higher learning to collaborate on big entrepreneurial ideas to move the state forward as a leader in economic development.

Attendees will hear best practices of successful case studies and learn more about resources and strategies available to entrepreneurs from Mississippi colleges and universities and other key organizations.

ST Engineering Halter Marine and Offshore Inc., a ship maintenance and repair company, is expanding in Pascagoula. The project is a $10 million corporate investment and will create 100 jobs.

The expansion will enable the company to perform commercial repair work for larger ships and oil platforms that require greater size and lifting capacity. It is adding dock space and water depth adjacent to its Bayou Casotte site.

The company also is investing in

machinery, equipment and building upgrades.

“We would like to thank the Mississippi Development Authority, the Jackson County Economic Development Foundation, Jackson County Board of Supervisors and Jackson County Port Authority for their support throughout this process,” said Nian Hua Lim, president of ST Engineering Halter Marine and Offshore.

The Mississippi Development Authority is providing a $1.5

million grant to offset the cost of dredging adjacent to the site.

MDA also has approved the company for the Advantage Jobs Rebate program, which provides a rebate to eligible businesses that create new jobs that exceed the average annual wage of the state or the county in which the company locates or expands.

STEHMO plans to fill the new jobs by the end of 2021, increasing employment at the facility to 186.

Feb. 21 - Feb. 31, 2020

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MBJ PERSPECTIVE

Feb. 8- Feb. 21, 2020 • www.msbusiness.com • Page 6

» PERSPECTIVE

» OTHER VIEWS

Work-force training versus college degrees

Feb. 21 - Feb. 31, 2020 Volume 42, Number 4

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» INSIDE MISSISSIPPI

Mississippi ignores conservative way to tax

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ome facts you can use to dull your senses. That apparently works for our state leaders.

Mississippi has the third lowest gas tax rate among the 50 states. The lowest is Alaska at 14.4 cents per gallon. Second is Missouri at 17.4 cents.

Then comes Mississippi at 18.4 cents.

Mississippi established this rate in 1987 and it hasn’t moved since. Only Alaska has stood still on gas rates longer, last raising its rate 50 years ago.

Rates have moved in neighboring states, however, two just this past September and one the year before.

Alabama, in September, began phasing in a 10 cent per gallon increase, adding 6 cents to hit 24 cents per gallon this year. When fully phased in at 28 cents, Alabama would rank just behind Tennessee at 22nd lowest.

Also in September, Arkansas raised its rate to 24.5 cents per gallon.

At this level, Arkansas has the 17th lowest rate.

A year ago, Tennessee raised its rate to 27.4 cents per gallon. At this level Tennessee has the 21st lowest rate.

Standing still with Mississippi, so far, is Louisiana which established its

20 cent per gallon rate 29 years ago.

That rate is the 8th lowest in the nation.

The average rate nationally on gasoline is just BILL CRAWFORD under 32 cents per gallon. Twenty-two states have rates higher than that.

Studies by the Mississippi Economic Council showed Mississippi needed at least $375 million more per year for 10 years to fix the worst of its crumbling roads and bridges. The total needed to put our transportation in good shape was projected at over $6 billion.

So far, state leaders are trying to cheap their way out of this dilemma.

The new lottery tax may provide $80 million a year for 10 years, a total of $800 million. The legislature provided one time bond money of $300 million for road and bridge repairs plus 35% of the new 7% “use tax” on internet out-of-state sales to local governments for bridge repairs.

The use tax diversion could generate about $120 million per year or $1.2 See CRAWFORD, Page 7

or the past few years, the Legislature and the governor’s office have hammered away at a consistent message about education: College isn’t for everyone.

Among the well-intentioned, it’s an effort to call to the attention of young people the emerging opportunities in skilled labor as factories and industries struggle to find employees equipped for the demands of the modern workplace. There is also a shortage of those trained in the traditional trades – construction, plumbing, electricians, et al.

The message is sound, although how it is framed is following a troubling trend.

During his first State of the State address recently, Gov. Tate Reeves employed a view that is insulting, demagogic and, we believe, counter-productive.

In his wide-ranging, 35-minute address, Reeves touted the state’s investment in work-force training, the catch-all phrase for career tracks that do not require 4-year college degrees.

If he had stopped there, it would have been a positive message for our state.

Instead, Reeves went a bridge too far, mocking university education.

“In Mississippi, we know there is pride in a trade,” he said. “We know there is money to be made. We can let the east coast have their ivory towers. We can let the west coast have a generation of gender studies majors. We will take more jobs and higher pay!”

In using the sort of divisive rhetoric that is usually abandoned after the election campaign, Reeves is pitting one career track against another. The sort of language does not auger well for higher education, which has been chronically underfunded for years. As a result, more and more of the cost has been passed on to students and their parents.

“College isn’t for everyone” is a message apparently already being embraced. Over the past three years, four-year college enrollment has dropped by 5.7%. In the fall of 2019, there were 4,758 fewer students enrolled in our state’s eight public universities than there were in 2016.

Since 2012, the state has lost roughly 35,000 residents. It’s unlikely they left for pipe-fitting, plumbing and construction opportunities.

In short, fewer Mississippians are going to college and those who do are often leaving our state for the opportunities their education has prepared them for.

How does our state possibly benefit from that?

Dismissing a college education as an “ivory tower” pursuit or mocking liberal arts programs such as gender studies – in a state where 25% of women live in poverty, that’s a topic worthy of study – does not do a single thing to promote the work-force career path.

See WORK-FORCE, Page 8

Perspective

Feb. 8 - Feb. 21, 2020

CRAWFORD

» OUTSIDE WORLD

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Continued from, Page 6

billion over 10 years. All that adds up to an estimated $2.3 billion over 10 years.

If all these estimates come true that still leaves a shortfall of over $3.5 billion compared to total needs and about $1.45 billion compared to dire needs.

State Auditor Shad White recently audited the Mississippi Department of Transportation. His clean audit report suggested MDOT could redirect millions toward road and bridge construction if it streamlined operations. Those millions amount to about $15 million per year or $150 million over 10 years. Good savings but a smidge of what’s needed.

The conservative way to fund roads and bridges is through user taxes, i.e. the gas tax. Using bonds, gambling revenues, and sales tax diversions puts an unfair burden on many taxpayers, particularly the elderly, and robs money from needy general fund programs.

Most Republican controlled states understand the conservative way to tax, but not Mississippi.

“That’s also why you pay taxes – so that an orderly way of life can be maintained” – Romans 13:7 (MSG). » Bill Crawford (crawfolk@gmail.com) is a syndicated columnist from Meridian.

» FROM THE GROUND UP

Johari Window a useful tool for business T he Johari Window is a useful tool for businesses, nonprofit organizations, and communities to examine their self-awareness. It can reveal what employees, management, customers and stakeholders perceive about the organization.

So you’ve never heard of the Johari Window? Most business people haven’t because it comes from the psychology world. It was created by psychologists Joseph Luft and Harrington Ingham in 1955 and is used primarily in discussion groups for participants to create more self-awareness. It is often used as a team-building activity, but it can also be used by any organization that wishes to do a little self-examination. It is so-named because it’s a combination of the first names of its creators, Joe and Harry.

The window has four panes. The top-left window is known as the arena, the top-right is the blind area, the bottom-left is the hidden area, and the bottom-right is the unknown area. If a group or team was going through the exercise, each member would see it as follows: the top left pane contains things known to self and to others, the top right pane would contain things known to others and not known to self, the bottom left pane contains things known to self and not known to others, and the bottom right pane contains things not known to self and nor known to others.

It’s a great workplace tool because many employees are not aware of how they come across to their fellow workers.

In the examples, below we will use organizations instead of individuals.

The top-left pane, also known as the open or arena pane, is what is known by the organization and what others know about the organization. If you were doing this as an exercise you might ask: What do we know about or organization and what do others know about our organization? Think of it as the public arena. It is here where an organization can examine its public image. For example, everyone knows that General Motors builds cars. Every-

“We judge ourselves by our intentions; others by their actions.”

— Anonymous one knows that Kroger is a grocery store chain.

The top-right window, called the blind window, is where the organization considers what others know about it, but it doesn’t know about itself. For example, management may believe that it has happy employees who enjoy their work environment. However, employees may not be happy at all. glassdoor.com is a website that contains posts by employees about the culture of companies. 24/7 Wall Street examined thousands of posts on glassdoor.com and listed the “Worst companies to work for.” My guess is that the top companies on that list did not realize they were considered as such. Another example would be that management is proud of low turnover rate, but does not know that one of its prized employees has been searching for another job and is planning to resign at the end of the month.

Management may not realize that the clerk talking on their cellphone while checking out a customer is infuriating the customer.

The bottom-left window, known as the hidden area, is about what the organization knows about itself, but others do not. For example, nowaPhil Hardwick days many customers do not realize that the company representative they are talking with on the phone is not in a company headquarters building, but is instead working remotely and is an independent contractor. Many organizations that go through the strategic planning process have as one of their goals to let others know about the good things or the effectiveness of the organization. The organization wishes its story was more well-known. On the other hand, some organizations have serious negative internal issues that it hopes to hide from the public. In other words, these are private issues.

The bottom-right window, known as the hidden area, is about what the organization doesn’t know about itself and what others don’t know about it. Political events might have a significant effect on the organization. An airplane crash with senior executives on board could disrupt operations. Medical conditions of key personnel may occur. No one knows what the future holds.

In summary, the Johari Window exercise is a good tool to use inside your organization to help employees learn more about how they see themselves and as a way for your organization to examine how it sees itself and how others see it.

» Phil Hardwick is a regular Mississippi Business Journal columnist.

His email is phil@philhardwick. com.

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Belhaven Town Center making strides to maturity

By JACK WEATHERLY jack.weatherly@msbusiness.com Developers see it as the new main street for Belhaven.

Belhaven is known for its stylish and historical residential neighborhood, including legendary writer Eudora Welty’s home, Belhaven University, Millsaps College and the New Stage Center.

But four men with deep Turner roots in Mississippi’s largest historic district agreed that Belhaven needed a “centering,” a street and common ground where people could gather to celebrate all of the above.

So a plan was developed for Belhaven Town Hogan Center on two city blocks

WORK-FORCE

Continued from, Page 6

Can the work-force path not stand on its own merits?

Mississippi State and Ole Miss have gender studies programs and while neither university has come to the defense of these programs, Mississippi University for Women President Nora Miller offered an unapologetic defense of The W’s women’s studies program.

“Gender studies and other areas of study that aim to build a more diverse and inclusive society benefit all of us,” Miller said.

“These programs provide in-depth knowledge of gender dynamics, strategies and organizational skills needed to address gender inequalities, promoting skills which are needed (in a variety of fields).”

Here’s the truth: What may be said of the college career path is also true of the workforce career path: It’s not for everyone, either.

Depending on the job, skilled labor sometimes means working in harsh conditions performing monotonous and sometimes potentially dangerous work. Older workers, especially in traditional trades, may find the work too physically demanding to sustain into their 50s and 60s.

We do not believe that promoting either career path relies on denigrating the other.

Both are good choices. For some workforce training is a better path. For others, a university degree is the best path forward.

It is unfortunate that our governor has chosen to drive a wedge between these two legitimate career paths.

— The Commercial Dispatch

straddling Manship Street and between Belhaven and Belhaven Heights. » Elvie’s keeps it simple and elegant, Page 9 The project celebrated the latest stride in its development on Tuesday. Elvie’s, a quaint restaurant in a former residence, opened. That followed Campbell’s Craft Donuts, which opened next door in November and is owned and operated by Mitchell Moore, whose Campbell’s Bakery is a fixture in the Fondren District.

Both buildings had been long vacant and dilapidated.

Dr. Reed Hogan III, one of the investors, said that houses that became Campbell’s and Elvie’s had been “heroin dens.”

From them, he could see his backyard.

Not a good thing for someone raising a family with four daughters.

Hogan, his father, Dr. Reed Hogan Jr.,

both gastroenterologists; developer David Turner, and Ruffin Lowry came together and are equal partners in the project.

The younger Hogan, president of the Belhaven Improvement Association, said Turner had pitched the idea for the development to others about 10 years go but “it fell on deaf ears.” Hogan said that when he moved back to Jackson and heard about the idea, he reached out to Turner.

“We want it to feel like the center of energy and community,” Hogan said.

“I hope 20 years from now that when they drive through Belhaven Town Center that they assume that’s where Belhaven started.”

The Town Center is on Manship Street, starting in the second block east of State Street at North Street, straddling Manship, ending at Jefferson Street and bordered on the south by Carlisle Street.

The next phase will be The Haven, a combination of green space and “micro retail” shops, according to Turner, who was interviewed at Elvie’s, where he came to grab a quick bite. That phase should open

in the fall, he said.

A dental building with two floors above providing space for 12 one-bedroom apartments should be completed in about a year, Turner said.

Plans may include a brewery or brew pub in the former location of the Baptist Hospital laundry the east side of Manship.

Further, there is interest in medical and law space, Turner said.

The David Turner Cos. portfolio includes custom homes, including some in the Lamar project in Oxford, the Backwater Farm, a 26-acre “agrihood” in Ridgeland with five-acre lots and a half-acre common garden plot.

The Belhaven Town Center has already opened two restaurants, Campbell’s Craft Donuts (lower right) and Elvie’s (above Campbell’s). The next phases will be The Haven (above the restaurants) medical space and apartments (lower left). North of Manship Street a brew pub or brewery is envisioned.

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Elvie’s keeps it simple and elegant

By JACK WEATHERLY jack.weatherly@msbusiness.com

There’s a good reason why Cody McCain says: “Everybody is kind of in our living room.”

That’s because Elvie’s, which opened on Tuesday, is built in the bungalow style, he said.

Or rebuilt. The original 1,850-squarefoot house at 809 Manship St. in what is now the expanding Belhaven Town Center had been vacant for a decade and was in “terrible shape,” McCain said.

So it was razed and the exterior was rebuilt in that style.

The cottage reflects the downsize style popular in Europe, McCain said.

Which reflects the fact that co-owner and chef Hunter Evans concentrated on the French techniques when he was attending the Culinary Institute of America in Hyde Park, N.Y. Belhaven Town Center making strides to maturity, Page 8 Evans was also influenced by his grandmother, Elveretta “Elvie” Good, who lived in the very Gallic New Orleans, where her grandson visited her, enjoyed her cooking and was exposed to the legendary cuisine of the city.

Evans, 30, was sous chef at Lou’s FullServ in Belhaven before taking his present position.

Architect John Weaver, who has a number of Jackson-area restaurants in his portfolio, and designers Jonathan Shull and Bradley Adair brought the physical vision to reality. The décor is light, including the sturdy wooden chairs and tables and tambour covering on the bar — directed by Brandi Carter, who is also the sommelier — and the hostess station.

A cushioned banquette that wraps the dining space.

Hunter Evans plates a dish.

JACK WEATHERLY/MBJ

Elvie’s (right) in Belhaven Town Center.

The menu is limited, which is not to say lacking. Its simplicity reflects the philosophy of the restaurant.

Its prices are simply moderate.

Carter made sure to take advantage of the spirits of Mississippi. Jackson-based Cathead Distillery’s vodka, honeysuckle and pecan-flavored, as well as its Hoodoo Chicory Liqueur. Queen’s Reward (made in Tupelo) blackberry mead is in there.

Cocktails are $8, ranging from Churchill’s Breakfast to Boozy Iced Coffee (with the Cathead pecan vodka and Hoodoo liqueur.) Wine by the glass (eight choices) is also eight bucks.

Entrees range from $15 for Cacio e Pepe pasta to $28 for Gulf Coast Bouillabaisse.

(With Steak Frites at market price).

McCain, 28, worked for his father, Bob McCain, founder and president of Buffalo Peak Outfitters in Highland Village Shopping Center, after graduating from

Mississippi State and with a business degree before shifting career direction.

Much of the food is Mississippi-sourced, which may help explain why the prices are not as high as they might be.

The produce comes from Two Dog Farms in Flora and a lot of the beef and pork is bought at Home Place Pastures at Como, whose animals are grass-fed.

Southern Coffee Services of Lexington provides the java, at $2 a cup.

The proof of the provisions is in the tasting.

Take a breakfast selection for example. The sausage patty was firm and lean.

Grits, nutty and flavorful, is produced by Grit Girl of Oxford. Naturally, the two eggs were from free-range chickens. The biscuit was a good vehicle for housemade satsuma jam made from coastal-grown fruit, spread elegantly on a brass-andwood butter knife.

That’s the Classic Americaine, $11.

Breakfast at the slightly misleading “all-day cafe” is from 7 a.m., till 2 p.m. After a two-hour break the shift Cody McCain, co-owner and general manager. is made toward the evening; dinner is served till 9 p.m.

Monday through Friday and till 10 p.m. on Saturday. Doors are closed on Sundays.

JACK WEATHERLY/MBJ

Feb. 8 - Feb. 21, 2020 • MISSISSIPPI BUSINESS JOURNAL • www.msbusiness.com

AN MBJ FOCUS: Business Woman of the Year

» Emily Lauder, vice president of administration at Toyota Mississippi, has been named the Mississippi Business Journal’s Business Woman of the year for 2020. In her role at Toyota Mississippi, Lauder oversees all areas of administration including human resources, production control, safety and environmental and accounting and finance.

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PRE-CONSTRUCTION > GENERAL CONTRACTING > CONSTRUCTION MANAGEMENT > DESIGN-BUILD

Taking your vision from concept to completion with decades of commercial construction experience.

601.933.3507 ameasells@alliantconstruction.com A Division of Ergon Construction Group

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2020 Business Wom

Emily Lauder Toyota Mississippi

Courtesy of Stegall Imagery

The Top Ten

Emily Lauder, 2020 Business Woman of the Year (center) with MBJ Publisher Tami Jones (left) and 2019 Business Woman of the Year winner Phyllis Polk Johnson.

CINDY ANDERSON Haddox Reid Eubanks Betts

Cindy Anderson is a tax member with more than 29 years of experience in public accounting. She manages tax and tax planning, payroll and bookkeeping, and advisory services for clients in the health-care and related industries.

As a member of the Mississippi Society of Certified Public Accountants, Anderson has served on the Board of Governors and is a member of the Central Chapter. She is also is a member of the American Institute of Certified Public Accountants.

Anderson is a graduate of Mississippi State University with a bachelor of Professional Accountancy.

She is an active member of First Baptist Church Brandon. She volunteers at Stewpot Community Services, at the Mississippi Burn Foundation’s Shop with the Docs event, and attends the Greater Jackson Chamber Partnership Women’s Information Network meetings.

STACIA MARIE DUNSON

Emily Lauder, Vice President of Administration at Toyota Mississippi, was named Mississippi’s Business Woman of the Year for 2020 Thursday by the Mississippi Business Journal. Lauder was joined by 10 finalists and 39 other honorees at an event at the Old Capitol Inn in Downtown Jackson.

Lauder was named Vice President of Administration at Toyota Mississippi in June 2018. The manufacturing facility, located in Blue Springs, produces the Corolla, Toyota’s highest volume selling vehicle globally. In this role, Lauder is responsible for all areas of Administration including Human Resources, General Affairs, Safety and Environmental, Facilities, Accounting and Finance, and Production Control.

VERONICA BELL

Bell and Associates Consulting Firm Veronica Bell, along with her husband, Kenneth Bell, is the co-owner of Bell & Associates Consulting Firm, LLC, a multi-million dollar producing insurance and financial brokerage firm. Veronica has been in the financial industry for more than 12 years. A two-time graduate from the School of Accountancy and School of Business with a concentration in Human Resource Management at the University of Mississippi, budget and financial counseling has always been her passion.

When she married her husband, Kenneth, in 2014, Bell & Associates was born. Pairing the skills of her and her husband, catapulted Bell & Associates the company is today employing 14 people and growing, contracting 20 brokers, with two offices and satellite offices and servicing thousands of clients in Mississippi and eight other states.

Veronica is a mother of five with two in college. She is also a praise and worship leader at her local church and also the International Pentecostal Churches of the Apostolic Faith.

WENDY LEWIS The Winning Smile

A native of Puckett, Dr. Wendy Lewis is Harmony House Calls and Medical Services a cum laude graduate of Mississippi College and the University of Mississippi School Stacia Dunson is the CEO and Clinical of Dentistry. As a member of the General, Director of Harmony Housecalls & MedAmerican and Mississippi Dental Associations, ical Services LLC. Her responsibilities are and the Academy of Cosmetic Dentistry, Dr. managing day-to-day operations and clinical Lewis provides high-quality, advanced care practice as a Family Nurse practitioner and CEO, getting students enrolled in medical assistant, phlebotomist, and and a patient experience you can trust. She enjoys helping people find confidence in a smile they can be proud to share with the world in her nursing programs and serving as lead delegate in community service practice, The Winning Smile Dental Group. Along with her business projects including heath fairs, blood drives and monthly medical chats partner, she owns three locations serving the central MS area in Jackat assisted living facilities to educate residents and staff on acute and son, Flowood, and Brandon. chronic illnesses.

She has received many awards and recognitions some of which Dunson holds degrees from Alcorn State University, the University include: 2019 “Top Dentist”, 2018 “Top Dental Influencer” by Kleer, of Southern Mississippi and Jackson Hinds Comprehensive Health 2015, and a 2012 “Healthcare Hero” and a 2017 “Top 10 Under 50” by Center.

She us a member of the Junior League of Jackson, Jack and Jill of the MS Business Journal.

In her free time, she enjoys being a wife and a mom to her three America and the Greater Mississippi Girl Scouts. beautiful daughters. She loves reading, traveling, and serving as In her spare time, she enjoys singing, spending time with family and friends and watching movies with her husband and children as well room mom at her children’s school. She also enjoys volunteering as a member of the Junior League of Jackson. She and her family attend as participating in high intensity training exercise classes.

Pinelake Church.

Prior to General M nering-M plants and Plano, Tex Lauder Developm Mississipp the 2020 Committ Lauder and an M of Ohio. S

DAMITA CALDWELL Ingalls Shipbuilding

Damita Caldwell is the Operations Special Projects Director at Ingalls Shipbuilding. She is responsible for technical training, development, and compliance within Operations.

Damita is a 20-year employee who began her career at Ingalls as a Senior Clerk in Hull Department. She has served in various positions over the course of her career, primarily in project management of Navy Programs (DDG51, LHD8, and LPD class ships), as well as technical training and development in Supply Chain Management.

Caldwell is a graduate of Moss Point High School, Class of 1985, where she was an honor roll student, in academically talented classes.

She graduated, from the University of Southern Mississippi in Hattiesburg, with a Bachelor of Science in Business Administration (BSBA) in 1991. She received a Master of Business Administration (MBA) from William Carey University in 2007.

Caldwell is the daughter of Alderman Robert and Lorraine Byrd of Moss Point and is the mother to one daughter, Mikayla who is a senior at the University of South Alabama in Mobile.

JESSICA B. MILAM Planters Bank and Trust Company

Jessica Milam began her career in HR with Planters Bank & Trust Company in 2008. She is currently the First Vice President of Human Resources at their operations headquarter in Indianola.

In her HR role, she finds joy in developing and administering programs tailored to meet the needs of their employees. She is a 2006 graduate of the University of Mississippi. She is also the co-owner, with her husband, of Fountains Green Grow-Cery, a plant nursery and garden center in Greenville.

Milam is a native of Alabama but has called Greenville home since 2007.

She currently serves as Treasurer for the Junior Greenville Garden Club, Secretary for the Board of Directors of Washington School, Director of Conference planning for the MS SHRM Council and is a life member of the Junior Auxiliary.

Milam finds the most satisfaction in spending time with her husband John, and their two children, Walt (7) and Kate (5). She is a member of St. Joseph’s Catholic Church. When she can find some free time, she enjoys participating in her local theatre, Delta Center Stage.

Feb. 8 - Feb. 21, 2020

man of the Year

UMMC

In deciding her employer of choice, a family member who was a former RN at UMMC encouraged Patrice Donald to consider the best and obvious selection. In 2011 – the decision to begin at UMMC as a Registered Nurse was one of the best decisions of her life.

During this time, she was nominated for the Daisy Award on 12 occasions and was the proud recipient of the Daisy Award in 2015.

The preparation as a Staff RN has led her in the path of her career and has allowed her to support UMMC in meeting the goals identified.

Patrice is now the Magnet Program Manager and has responsibilities to include strategic planning for recruitment and employee engagement.

In addition, she has oversight with special programs to include – Healthy Nurse Healthy Nation, DAISY Award for Extraordinary Nurses and Student Nurse Externship program initiatives to name a few.

Patrice earned a BS in Health Care Administration from Jackson State University in 2000, an ADN in Applied Science from Hinds Community College in 2011, a BSN from the University of Mississippi Medical Center in 2013, and will be a candidate for the MSN degree in 2020.

REMAINDER OF 2020 CLASS

GAIL PITTMAN - Gail Pittman, Inc. - 2002

Christy Bridges

Legacy Consulting

ELEANOR ROGERS – Quality Hospice and Quality Healthcare – 2004

Jessica Broome

Keesler Federal Credit Union

D’AUBY SCHIEL – Community Bank Coast – 2005

Dr. Nakeitra Burse

Six Dimensions

JANE R. DENNIS - Corporate Secretary-Treasurer – 2007

Kimberly Compton

City of D’iberville

KATHRYN H. HESTER – Watkins Ludlam Winter & Stennis – 2008

Laurie Cutrer

JOEY F. GARNER – TEC – 2009 JANET SULLIVAN – MDOT - 2010

Lisa Davis

ROSI JOHNSON – Mississippi Music - 2011

Georgia Everett

DANA HARBERS - UMC - 2012 MENDE ALFORD - Old Capitol Inn - 2013 PAT THOMASSON - Thomasson and Company - 2014 ROSEMARY SMITH - R & R Rentals and Hotshot, Inc. - 2015 FELICIA GAVIN - DiamondJacks Casino - 2016 NANCY CARPENTER - Columbus Convention & Visitors Bureau - 2017 TERESA HUBBARD - CITE Armored - 2018 PHYLLIS POLK JOHNSON - Mississippi Board of Nursing - 2019

CHRISTEN H. DUHÈ

Mississippi Gulf Coast Community College Christen Duhé is the Associate Vice President of Institutional Relations at Mississippi Gulf Coast Community College. She began working at MGCCC in 2012 as the first Director of the Hospitality Resort Management Center.

She began her career at the Mississippi Gulf Coast Chamber of Commerce as the first Director of Coast Young Professionals (CYP). She then worked at the PGA TOUR Champions Tour golf tournament, Mississippi Gulf Resort Classic, as the Director of Volunteers.

Duhe is a Mississippi Gulf Coast native, growing up in Bay St. Louis and now living in Gulfport. She is a two-time graduate from The University of Southern Mississippi with a Bachelor’s Degree in Public Relations and a Master’s Degree in Mass Communication. She is a graduate of the Coast Chamber’s Leadership Gulf Coast program, the Business Council’s Masters’ Class, MEC’s Leadership Mississippi and the Mississippi Community College Leadership Academy.

She married her husband David in March, 2012, in Cancun, Mexico.

They love to travel and have two cats, Calvin & Chief, and a border collie named Scout.

Viking Range

Beth Tackett serves as Director of Human Resources for Viking Range, the originator of ultra-premium cooking products for the g home. In this key role, Tackett oversees all aspects of human resources while spearheading the development and strategic direction of the company’s human s resource best practices and human capital initiatives. For the past 22 years at Viking, her mission has been to ensure that people remain the company’s greatest asset.

She holds a BBA in human resource management from The University of Mississippi, and a Master of Business Administration from Mississippi State University. Tackett attained the HRCI Senior Professional in Human Resources and SHRM-Senior Certified Professional designations.

She is a member of First Presbyterian Church of Greenwood, where she serves as Elder. She and her husband Randy, have two sonsJohn Hollis (18) and Sumner (14). She is a devoted animal lover, and alongside her son, dedicates numerous hours each week to the rescue of homeless dogs in the Mississippi Delta.

REBECCA RIEVES WATERER Magnolia Health Plan

Becky Waterer is the vice president of medical affairs for the Magnolia Health Plan.

She works in the clinical area within the company to make sure approximately 280,000 covered members receive high quality medically necessary services. These are some of the most vulnerable Mississippians with roughly half of its membership being children under 19 years of age. Waterer also works extensively with their external partners, among many others.

Waterer has a BS in biological sciences from Mississippi State University and she earned her medical degree from the University of Mississippi Medical Center in 1985.

She says she is the wife to a wonderful husband, who has been an interventional cardiologist for 34 years. She is the mother to two outstanding young people, her daughter being a nurse in the Batson Children’s Hospital and her son being an Assistant Vice President at Trustmark Bank in Jackson. She is also a grandmother to three grandchildren

Sunflower County Consolidated School District

SignMark CPA Realty Everett Electric

Becky Farrell

Law office of Becky Farrell

Tanya Fitts

Lafayette Pediatric Clinic

Janna Fuss

Merit Health

Tanisha Gates

Dorsey and Gates

Tiffany Graves

Bradley

Christin Grissom

Phi Theta Kappa

Elizabeth Hamm

BancorpSouth

Ashley Murphy Horne Angela Juzang

Hinds Community College Memorial Hospital

Amanda Lee

Fisher Brown Bottrell Insurance

Jenny Levens

City of Long Beach

Elizabeth McIntyre Suzanne Monk Mary Ann Myers

Renasant Bank William Carey University Mississippi Development Authority

Dr. Felicia Nave

Alcorn State University

Portia Pearson

Lab Test Depot

Christy Pender

Northpark Mall

Melissa Pitman

Trustmark Bank

Sara Anna Powers

BETH EDWARDS TACKETT

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Barbara Akon

LINDA C. WATTS – Mississippi Power Company – 2006

PATRICE L. DONALD

Mississippi Business Journal

ROBYN TANNEHILL - GodwinGroup - 2001 DR. FRANCES LUCAS - Millsaps College – 2003

o joining Toyota Mississippi, Lauder was the Manager for Human Resources Strategic PartManufacturing for all of Toyota’s North American d was located at Toyota Motor North America in xas. currently serves on the board of the Community ment Foundation in Tupelo, on the board of the pi Automotive Manufacturing Association and 0 Southern Automotive Conference Planning tee. received a BBA in Finance from Ohio University MBA in Decision Sciences from Miami University She and her family live in Tupelo.

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PREVIOUS RECIPIENTS OF BUSINESS WOMAN OF THE YEAR

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Tanya Rankin

The Congruent Life C Spire

Amber Raymond

Willow Blu

Alice Claire Scott

Mississippi Pharmacy Board

Sally Sheffield Susannah Silvia

Sheffield Rentals Beyond Therapy for Kids

Carey Snyder

Snyder and Company

Emily Suber

Parents of Ole Miss

Jennifer Thompson

Mississippi Department of Agriculture

Davita Weary

Mississippi Community College Board

Demetrice Wells

Williams Wells Law Firm

Makeba White

B1 Nursing Care

Malissa Wilson

Forman Watkins and Krutz

15

Largest Shopping Centers

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Mississippi Business Journal

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Shopping Centers Rank

Shopping Center Address

Feb. 8 - Feb. 21, 2020

Phone Website

Founded

Anchors

Lakeview Village and Indian River Plaza 214-259-7032 1999 Lowes, Walmart, Academy Sports, Grand 18 Theater shoplakeview.com I-10 and I-110, D'Iberville, MS 39540 Northpark 601-863-2300 2 1984 Dillard's; Belk; JCPenney visitnorthpark.com 1200 E. County Line Rd., Ste. 267, Ridgeland, MS 39157-1904 Edgewater Mall 228-388-3424 3 1963 Dillard's, Belk, JCPenney, Premier Cinema edgewatermall.com 2600 Beach Blvd., Biloxi, MS 39531 Turtle Creek Mall 601-261-3032 4 1994 Belk, Dillard's, JCPenney, At Home, Steinmart turtlecreekmall.com 1000 Turtle Creek Dr., Hattiesburg, MS 39402 The Mall at Barnes Crossing 662-844-6255 5 1990 Belk, Cinemark Theatres, JCPenney, Victoria’s Secret barnescrossing.com 1001 Barnes Crossing Road, Tupelo, MS 38804 Bonita Lakes Mall 601-693-3433 6 1997 Dillard's; Belk; Fitness Depot, HYPE Indoor Adventures bonitalakesmall.com 1210 Bonita Lakes Circle, Meridian, MS 39301 The Promenade 337-984-8242 7 2009 Best Buy, Dick's, Target thepromenadems.com 3821 Promenade Parkway, D'Iberville, MS 39540 Crossroads Center 913-701-6693 2003 Belk, Cinemark, Academy Sports, Ross Dress for Less 8 retailvalueinc.com 15082 Crossroads Parkway, Gulfport, MS 39503 Southaven Towne Center 731-668-7621 9 2005 JCPenney, Bed Bath & Beyond, Gordman's southaventownecenter.net Airways Blvd. & Marathon Way, Southaven, MS 38671 Turtle Creek Crossing 954-956-2104 Target, Kohl’s, Ashley Furniture HomeStore, Ross Dress for Less, 10 2005 stirlingprop.com PetSmart 6143 U.S. 98 West, Hattiesburg, MS 39402 Renaissance at Colony Park 601-519-0900 Barnes & Noble; The Fresh Market; Apple; Anthropologie; Brooks 11 2008 renaissanceatcolonypark.com Brothers; Ethan Allen; J. Crew 1000 Highland Colony Pkwy., Ridgeland, MS 39157 Lakeland Commons 216.464.6626 2006 Kohl’s, Lowe's, Hobby Lobby, Ross 12 chaseprop.com Lakeland Drive & Old Fannin Road, Flowood, MS 39232 Dogwood Promenade 334-277-1000 13 2004 Kroger, Target, Best Buy, Stein Mart, Pet Smart aronov.com Lakeland Drive & Old Fannin Road , Flowood, MS 39232 Cloverleaf Center 601-582-8090 14 1974 Dirt Cheap Building Supply, General Dynamics, Hattiesburg Clinic lormaxstern.com 5912 Hwy. 49, Hatttiesburg, MS 39401 Market Street Flowood 817-639-2708 15 2009 Dick's Sporting Goods, Buffalo Wild Wings, DSW, Bed Bath & Beyond marketstreet-flowood.com Lakeland Drive & East Metro Parkway, Flowood, MS 39232 Vicksburg Mall 601-634-0823 16 1985 Belk, Dillard's, Hobby Lobby, B&B Theatres, Fun Lanes Bowling vicksburgmall.com 3505 Pemberton Square Blvd, Vicksburg, MS 39180 Sawmill Square 6016495957 17 1981 JCPenney, Belk, Regal Cinema 5 & Cowboy Maloney's sawmillsquaremall.net 910 Sawmill Rd. Suite 219, Laurel, MS 39440 Big Oaks Crossing 913-701-6693 18 1992 Walmart, Sam's Club, Jo-Ann retailvalueinc.com 3850 N. Gloster St., Tupelo, MS 38804 Edgewood Mall 601-684-4828 19 1987 Belk, Marshalls, Goody's, Hobby Lobby edgewoodmall.net 1722 Veterans Blvd., McComb, MS 39648 Data provided by property managers and MBJ research. Centers ranked by square footage. Direct comments to frank.brown@msbusiness.com.

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Total Sq. Feet 1,050,000 960,000 900,000 845,571 730,000 632,192 593,007 591,252 567,640 543,150 493,000 465,680 445,154 390,000 373,000 358,000 350,000 348,257 342,220

Feb. 8 - Feb. 21, 2020

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Mississippi Business Journal

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Construction deadlines tied to financial help in Madison project

Special to the MBJ

Project could begin by the end of 2020, but ‘substantial’ work must begin by end of 2021.

By JACK WEATHERLY jack.weatherly@msbusiness.com In asking the city of Madison for financial help in building the ballyhooed Madison on Main project, the developer, Greenstone Ventures Inc. of Atlanta, will have to meet certain deadlines.

That’s according to the general agreement between the city, the Madison Square Development Authority and Greenstone Ventures Inc. of Atlanta, a copy of which was obtained by the Mississippi Business Journal through a public records request made to the city.

Madison at Main is a 17-acre project in the heart of the city at the intersec-

tion of Main Street and Highway 51, extending south to Madison Avenue.

The private component, which is valued at a minimum of $100 million, includes condominiums, townhouses, shops, office space and a boutique hotel Certain details are redacted, or blacked out. One sliver of light cast on the agreement is that the number of condominiums must be at least 28. But the size and sales price are blacked out.

The developer has requested that the city create a tax increment finance, or TIF, district, whereby taxes generated by the project will be diverted to reimburse Greenstone for infrastructure and multilevel garage costs.

The estimated revenue, from sales derived from the grocery, retail and restaurant space and ad valorem, or property, tax would would be needed to service bonds issued by the city for the TIF district is redacted.

Under the TIF agreement, construction would have to “substantially” start no later than Dec. 31, 2021. The developer must “substantially” complete two or more of the following facets by Dec. 31, 2024: boutique hotel, grocery and multilevel parking garage.

Chris Schoen, managing partner of Greenstone, said in a recent interview that construction could get underway by the end of 2020.

The general agreement calls for the city to support the developer should it apply for Tourism Tax Rebate program administered by the Mississippi Development Authority (MDA), whereby the sales taxes generated by the hotel would go to the developer.

However, revenue generated through the tourism rebate program, if an application is approved by the MDA, may not be used to pay for the TIF bonds.

Feb. 8 - Feb. 21, 2020 • MISSISSIPPI BUSINESS JOURNAL • www.msbusiness.com

AN MBJ FOCUS: Real Estate/Construction

NEZAT: Coast condo market is a more secure investment

By LYNN LOFTON mbj@msbusiness.com The condominium market on the Mississippi Gulf Coast is alive and well. No high rise buildings have been constructed recently, but sales for the existing units are steady and there is some non-high rise construction underway. The realtors interviewed agree that the most-in-demand location is on or overlooking the beach.

“The last condo we constructed on the Mississippi Gulf Coast was South Beach in 2008. We do not have any under construction now, nor have I heard of any potential ones in the future,” said Gina Creel, marketing director for Roy Anderson Corp.

However, on the sales side, Nicole Nezat, president of the Mississippi Gulf Coast Realtors Association, says her organization has a lot going on. “The market is very busy. I reached out to a few realtors across the Coast to get their perspectives about our condo market,” she said. “Reagan Kane, a broker mainly for the Bay St Louis area, reports they have a new townhome project coming up that is getting a lot of attention. It’s called Carre Court Townhomes.”

On the western side of the Coast, Pass

Christian has Pass Marianne and Inn by the Sea condos that Nezat says are very popular. “Philip LeBlanc services Long Beach and he sells a lot in the Beachwalk,” she added. “Ashley Endris feels The Legacy and Sienna are always favorites among the Gulfport condo owners. Most of the condo buyers in Gulfport and Biloxi enjoy having casinos close.”

Nezat has seen an increase in sales and values since 2008. “I sell to a lot to snow birds who want to have a place to golf and gamble. They come here to visit and fall in love with the area.”

Beau View in Biloxi does not allow short term rentals and does well for the secondary home market. Lynn Wade, who sells in Ocean Springs, says the newest condo there, called The Inlet, is doing well with its new lifestyle concept of mixed use.

Brian P. Bolis, senior vice president with Sawyer Commercial Realty, says condo resale activity, according to the local MLS, has been good if the units are fairly priced. “The resales in the high-rise condo developments had been fetching sometimes 50 percent less than the original new sale price, but of course this has been the result of so many foreclosures following the financial crisis and the

overall downdraft of property prices on the Coast generally,” he said. “Things have been markedly improving with high-rise sales in the range of $195 to $200 per square foot.”

Condos are a specialty with Realtor Beth Mandal, who’s been in the business 32 years. “The market is very strong but there’s a lack of inventory. We definitely need more,” she said. “Typically, buyers are from out of town, in or near retirement, buying as second homes or retirement homes. Our area is very popular with retirees because it’s not as crowded as Florida, we have great value, lower taxes and there’s lots to do.”

Mandal says units are generally in the $250,000 to $400,000 range with $300,000 as the average sales price. She also has a $2.2 million penthouse currently on the market.

Bolis is of the opinion that condo is still a four letter word on the Coast. “But The Inlet in Ocean Springs recently opened with 95 units consisting of one, two and three bedroom units priced from $160,000 to $249,000. This is a limited, mixed-use project with some retail on the ground floor of the several buildings facing Bienville Boulevard,” he said. “In Pascagoula there is an approximately

40-unit townhouse development about to come on line. Some similar small complexes are planned for Biloxi in neighborhoods north of the beach.”

Nezat takes a look back. “When condo developers first started building here, our condos were mostly sold to investors.

Now I say that our market is popular for the owner occupant ready for a more simplistic lifestyle,” she said. “Condo buyers are generally interested in the amenities and the view. Most of our properties have indoor and outdoor pools, gym facilities, steam rooms, and clubs that all look out over the beaches.”

She believes investing in the Coast market is a more secure investment because of the limited inventory of condos.

“You can actually drive along our beach and see the beach where some areas are so saturated that you have to physically walk out on the beach to see the view,” she said.

Real Estate/Construction

Feb. 8 - Feb. 21, 2020

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Mississippi Business Journal

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Home builder confidence high, but cost and availability of homes are issues

By BECKY GILLETTE mbj@msbusiness.com The current mood of home builders in Mississippi and across the country is better now than it has been since the Great Recession, said David Saulters, immediate past president of the Home Builders Association of Mississippi (HBAM) and owner of Sigma Companies and REMAX Real Estate Partners in Hattiesburg.

“It took a long time for the construction business to make it through the Great Recession,” Saulters said.

According to the National Association of Homebuilders (NAHB), builder confidence is at an all-time high. However, in both Mississippi and the rest of the country, there is a lack of inventory, particularly when it comes to affordable housing.

“I see that from the real estate side of my business,” Saulters said. “The question is, ‘Can builders deliver homes that are affordable for the buyer and still profitable for the builders to be able to make a living?’ The cost of materials and labor has moved up and home prices have moved up, too, but not enough to have an adequate margin for builders.”

Risks builders take include constructing spec houses that either don’t sell or sell slowly. Another factor can be homes failing to appraise for the sales price needed to allow builders an adequate profit margin.

“Custom homes have done pretty well, but I don’t think consumers understand the risks builders take with spec houses,” he said. “Not only does the builder take risks from the selling standpoint, but the warranties require builders stand behind the home’s structural items for six years.”

Saulters said Hattiesburg is a super market for homes. Petal in Forrest County, as well as Oak Grove in Lamar County, have traditionally done well, but now so are Sumrall and Purvis.

Finding an adequate skilled labor force continues to be a challenge for homebuilders, said HBAM Executive Vice President Jimmie B. Reynolds.

“There is definitely a shortage of construction workers,” Reynolds said. “There are more jobs than people to fill those jobs. From comments Gov. Tate Reeves has made, he is focused on that. One of governor’s big things is workforce development and we want to be a big part of that. The leadership in the legislature also knows there is a shortage.”

One strategy for filling the need now and in the future is to introduce young people to careers in the building trades such as electrical, plumbing, masonry and carpentry. Reynolds said it is important to get past the mindset that everyone needs to attend a four-year college.

“There are incredible opportunities for lifetime careers for young people to go into the construction trades, and we want to make sure that public schools are providing educational opportunities to show students what good-paying jobs are out there for them,” Reynolds said. “There is great money to made without graduating from a four-year college or university with a large amount of student loan debt.”

Home builders want to protect the public by preventing unscrupulous people from taking advantages of consumers. Reynolds said one way to do this is to make sure home builders are licensed and meet minimum requirements set by the state.

“The Mississippi State Board of Contractors requirements set minimum standards,” he said. “We encourage the public to use licensed and insured contractors and builders.”

But it is important to prevent onerous legislation that raises costs for builders and buyers. Reynolds is at the Mississippi Legislature on a regular basis monitoring legislation that would impact the home building industry.

“Right now, the strong economy has created a good environment for home builders,” Reynolds said. “But it is important to keep track of regulatory changes.

“Our association has a lot to offer builders. There are many benefits to being a member of the association. A lot of times folks don’t realize HBAM and NAHB are all about advocacy, working really hard every day to make sure to look out for the home building industry and the consumer.”

Nationally, there is an affordability issue which is partly related to government regulations, said Kenneth Estes, owner, Estes Building & Remodeling, Tupelo, president of the Homebuilders and Remodeling Association of Northeast Mississippi, a HBAM state representative, and immediate past chairman of the Area 8 region of NAHB. “The president has tried to ease some of the regulatory burden,” Estes said. “He has gone back and reversed some of the laws President Obama put in effect. NAHB has estimated that out of the average cost of a new home, 25 to 30 percent is some form of local, state or national regulations.”

One example he gave is the standards dictating toilets use less water. Estes said there is a proposal to lower it once again from the current standard, which would drive up construction costs even more.

Another proposal would require attic insulation in some climate zones go up from R-30 to R-49. While more energy efficient, it might take 15 years to recover the costs in energy saving. Estes said this would

be a cost difficult to pass on to buyers.

Other proposals he thinks would unnecessarily drive up costs are requiring mandatory electric car charging stations in all residential construction, and mandatory air testing for tightness in all duct work.

“There is no appraisal value for that,” Estes said. “It is just an expense the builders would have to incur and try to pass on to the consumer. NAHB is working to combat those changes.”

Estes agrees home building is healthy overall. The economy continues to grow in Mississippi and the nation, and people are still building new homes across the nation.

“There are some pockets doing better than others,” Estes said. “You always have that even in a down economy. The market in Tupelo is pretty good, although still not back to pre-Recession levels. Right now, in Tupelo there is still a lot of residential construction and commercial construction is very hot.”

Estes agrees with others in HBAM that there are major issues with workforce availability.

“In recent years locally, I’ve probably averaged a phone call a month from someone wanting a job in construction,” Estes said. “I haven’t had a call in ten months from anyone asking for a job. The phone is ringing off the hook with people wanting jobs bid, but there is not enough labor force to get the jobs done. It takes longer to get onto jobs once you get them bid because of the lack of labor.”

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Feb. 8 - Feb. 21, 2020

Real Estate/Construction

Metro retail real estate on a roll, survey finds

» New construction accompanied by 2nd and 3rd chances for older properties

By TED CARTER mbj@msbusiness.com Metro Jackson’s retail development market is in a recovery year created by vacant space filling up and lease rates staying in place.

So concludes a close look at the metro retail market by Integra Realty Resources Inc. and detailed in its annual “Viewpoint” report for 2020.

It appears that enduring a mostly stagnant development market the past decade could now bring rewards for developers and the investors who back them. They are in a market in which empty space is getting scarcer and rent rates could begin to reflect this, says Integra Realty Resources, a national commercial real estate valuation and consulting firm with an office in Ridgeland.

The recovery, Integra says, is in a third and final phase aided by the limited amount of new retail construction since 2010. This should create faster absorption of existing retail space, the 2020 report says, forecasting expansion with new development within the next 12 to 18 months.

James “Jim” O. Turner II, an Integra managing director, expects the expansion to be accompanied by continued infill of some large vacant spaces as seen in recent years along the County Line Road corridor. “The second-generation space is, at least, backfilling,” Turner said in an interview, citing moves like retailer At Home’s infill of the former Sam’s Wholesale Club space on County Line.

“We’ve had some vacancy rates along the corridor decline, but you are getting that same class of retail tenant space, second-and-third generation retail use,” Turner noted.

Pre-used on County Line is fine with commercial broker Scott Overby, principal of The Overby Company in Jackson.

Shifts in trade areas where County Line fixtures such as home décor retailers Pier 1 and Kirkland’s shut down while keeping open stores in Flowood and Madison reflect an eco-chain of sorts, according to Overby.

“Relocating corridors gives opportunities to backfill second- generation space at affordable rates with high-traffic counts,” he said.

Retailers “are not having to pay top dollar for new construction,” he added.

The Overby Company had Pier 1 as a tenant at North Regency Square. Overby said interest in Pier 1’s 9,000 square-foot space at Ridgewood Road and County Line has been strong since low sales forced it to vacate.

Overby attributes the interest to North Regency Square’s highway visibility and the 40,000 vehicles that daily travel the intersection it fronts. A six-figure renovation of the 61,300 square-foot three-floor center has further enhanced its appeal to tenants and shoppers.

Eight new tenants have been signed in the past year, Overby said. They include a Denny’s in the approximately 15,000 square feet vacated by Applebee’s, which departed over lease issues and not slack customer traffic. Overby noted long-time tenant and customer-traffic generator

Party City recently renewed its lease.

Overby said he has also signed up four new tenants for space vacated at nearby Centre Park, just off County Line Road in Ridgeland.

Another positive for County Line came with the signing of two tenants for the former Kroger store on the corridor’s east end after four years of vacancy. Trampoline-based franchise Sky Zone and fitness center Crunch Fitness divided the 62,000-square-foot building.

Multi-million-dollar renovations to County Line’s 958,000 square-foot See COUNTY LINE, Page 21

Real Estate/Construction COUNTY LINE

Continued from, Page 20

Northpark Mall have helped solidify the corridor’s future, commercial real estate pros say. Yet more strengthening will come from the planned transformation of the UA Northpark 14 into a multi-screen theater with a bar area and power recliners.

“If you want to drop a tenant into as central a location as you can, County Line fits that,” Overby said.

Commercial real estate professional Micah McCollough would agree, though only partly. “I’ve historically been bullish on County Line,” said McCollough, vice president and associate broker at NAI UCR Properties in Jackson.

The thing is, McCollough added, “You can only have so many trampoline parks.”

The jury is still out on County Line, McCollough insisted, but added, “I hope I’m wrong.”

He said he worries that the closures of stores like Pier 1 and Kirkland’s signal the start of a struggle to backfill. “I’m afraid we’re going to start having more junior boxes (spaces from 10,000 to 20,000 square feet) empty than national retailers to backfill them,” he said.

Looking at the metro’s retail development as a whole, McCollough said Integra Realty Resources is on target with belief an expansion is getting under way. He credits a strong economy.

“I feel like we are in an expansion phase,” he said, and noted he is seeing more retail construction than in several years.

So has Overby, but it’s mostly in the premium retail types, he said. “If you are a higher-end retailer, we certainly have new construction going,” Overby added.

The broker cited a planned 58-acre development on Grandview Drive in Madison across from the Sam’s Wholesale Club. “We’ve got eight out-parcels and 50 acres on the interior tract with opportunities to do everything from major retail of 200,000 square feet to typical big- box and junior-box.”

The developers are completing site plans and a couple of national large users have been pitched, according to Overby.

More immediately, the $500 million Waterpointe project on 230 acres in Flowood will be home to 560 single-family residences and 800,000 square-feet of commercial space.

Infrastructure work is under way for the mixed-use development south of Lakeland Drive just east of the East Metro Parkway. Construction is to be phasedin over at least 10 years, developer Southern Lifestyle Development says.

“It has a lot of real promise as a mixed-use,” said McCollough of NAI UCR Properties.

Other major retail activity cited in Integra Realty Resources’ 2020 Overview report included numerous auto-

mobile dealerships along Interstate 55 in Madison County, development of an amphitheater in Brandon, Renaissance Phase III in Ridgeland, continued development of The District at Eastover in Jackson and continued development of the Township at Colony Park in Ridgeland.

Looking at a distribution of metro Jackson’s 43 million square feet of retail inventory, Integra put neighborhood retail at 61.1 percent of the total with the rest divided between community retail and regional mall retail.

Going-in cap rates of 8 percent promise higher returns on community retail compared to the rest of the South, 7.1 percent; and the nation, 6.9 percent, Integra says.

For neighborhood retail, Integra lists a going-in cap rate of 8.5 percent compared to 7.1 percent for both the region and nation.

Cap rates measure risks in a deal and are derived as a ratio between net operating income and the value of the retail property.

Integra’s Viewpoint notes metro Jackson’s community retail asking rent of $14 a square foot is below the region’s $18.8 and nation’s $22.3. Yet the metro’s community retail vacancy rate of 9 percent is higher than the region’s 8.2 percent and nation’s 8.3 percent.

The rent-rate picture is much the same for metro Jackson’s neighborhood retail which is listed at $12 a square foot compared to the region’s $17.2 percent and nation’s $20. Vacancy in the metro at 5 percent is lower than that of the region’s 8.6 percent and nation’s 8.5 percent.

Feb. 8 - Feb. 21, 2020

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Suburban office space absorption headed for positive range; industrial in expansion

By TED CARTER mbj@msbusiness.com Tenants of metro Jackson’s suburban office market are expected to begin filling up space at a pace that exceeds new vacancies, an outcome the market failed to achieve two of the past three years.

Credit a 10-year slowdown in new office construction for increased prospects that net absorption will move into a positive range and stay there for at least a few years, Integra Realty Resources Inc. said in its 2020 Viewpoint report on the metro and Central Business District office markets. The two markets began the previous decade with an inventory of 26.1 million square feet and ended it at 26.9 million square feet. A recent slide into negative net absorption began in 2017 with 185,243 square feet left vacant and another 96,678 square feet remaining empty in 2018, Integra Realty Resources’ market survey found.

Absorption is the difference between vacant space in a previous tracking period and the current available space.

A rebound to 145,506 square feet into positive absorption occurred last year but Integra sees negative absorption of 17,707

MICAH

square feet for 2020. That should be the last venture into the negative range for at least the next four years, though none of the annual positive absorptions totals is expected to rise above 50,000 square feet, Integra said.

Ahead for the suburban market are decreasing vacancy and stabilized leasing rates, the report says. By contrast, the stagnation that has marked downtown

Jackson’s occupancies and lease rates for the last decade is expected to remain, Integra Realty Resources said.

“The recovery of the suburban office market has been spurred along by a significant reduction in the number of new office buildings constructed since 2009,” reported Integra, a national commercial real estate valuation and consulting firm with an office in Ridgeland.

On the negative side, metro Jackson’s Central Business District “remains in the third phase of a recession,” said Integra, citing a failure of downtown Jackson to edge up either occupancies or lease rates.

Addressing the flexible warehouse and industrial market, Integra’s 2020 Viewpoint predicts the new distribution and supplier facilities built in support of Hinds County’s $1.5 billion-plus Continental Tire plant will make up most of the new supply of industrial space over the next 12 to 24 months.

Integra noted it has seen enough revived growth in the industrial sector to say the first phase of an expansion is under way.

“Positive absorption is continuing, and lease rates have remained stable,” Integra said in its annual market survey report.

» Fewer vacancies, more options

Just how positive is absorption for Class A office space?

The last decade closed with The District at Eastover’s newly constructed five-floor, 120,000 square-foot multitenant office property with adjoining garage building 100 percent leased, Integra’s report noted.

A proposed 95,000 square-foot building just east of the Highland Colony Parkway is 90 percent pre-leased.

In the meantime, strong market prospects have led developers to propose a 40,000 square-foot multi-tenant building with a parking garage in Ridgeland along Highland Colony.

In addition, Highland Colony is set to gain several new office buildings at its intersection with Mississippi Highway 463.

“New supply will keep lease rates stable as occupancy rates are controlled by new supply,” the Integra report said.

As strong as absorption rates are expected to become, Integra’s 2020 forecast is for an 8.1 percent vacancy rate for metro office space. But after 2020’s negative net absorption, the metro market won’t see negative territory for at least the next three years, according to Integra.

Net absorption is forecast to grow positive by 9,159 square feet by the final quarter of 2021, Integra says.

The positive absorption is projected to continue through 2024, with tenants leasing 20,615 square feet above new vacancies in the fourth quarter of 2022; 24, 260 in 2023; and 32,732 in the final year of the forecast.

Those projections show strong improvement for the metro market from the start of the previous decade and the accompanying pain of the Great Recession. The fourth quarter of 2010 ended with 262,613 square feet of product above net absorption, a circumstance that led to a drop of 5.47 percent in asking rents and 10 percent vacancy rate.

Rebounds for absorption began the following year and continued through 2016. Whopping net absorption of 527,197 square feet occurred in 2014. The next year’s net absorption totaled 308,053 square feet, according to Integra.

Absorption went negative in 2017 and 2018, with 185,247 square feet left vacant See SUBURBAN, Page 23

s

Feb. 8 - Feb. 21, 2020 Continued from, Page 22

in ’17 and 96,678 square feet in ’18. The market returned to positive absorption in 2019, with 145,506 square feet absorbed above new vacancy inventory.

Today, the suburban market for Class A office closely parallels the rest of the South and nation, with landlords getting an average of $27 a square foot, compared to $26 for the region and $28 for the nation. Metro Jackson’s suburban Class B office space rents of an average $19 a square foot fall slightly behind the region, $20; and nation, $21.70.

Metro suburban capitalization rates – a measurement of risks in a deal derived as a ratio between net operating income and the value of the retail property – average 7.5 percent for Class A and 9 percent for Class B, surpassing both the region and nation in both categories.

Meanwhile, the 8.3 percent cap rates for Central Business District Class A space significantly surpass a cap rate of 6.7 percent for the South and nation.

However, Class A and B asking rents for the CBD are well below the region and nation at $20 and $15, respectively.

So are the CBD’s vacancy rates of 26.8 percent for Class A and B. CBDs in the region show vacancy rates of 15.2 percent and 15.8 percent for the nation.

» Tenant shuffles Meanwhile, net office space absorption may increase, but commercial real estate broker Micah McCollough attributes that mostly to tenants shuffling around the metro’s 26.9 million square feet of office space, a recent example being Horne CPA’s exchanging of 80,000 square feet at the Butler Snow building in Ridgeland for 60,000 square feet of a 90,000 square-foot building it built nearby.

And, he said, it’s not like office jobs are growing on trees to create demand for more space. Nor is it a plus for landlords that the average space devoted to each office worker has dropped from 300 square feet to 200 square feet, noted McCollough, vice president and associate broker at NAI UCR Properties in Jackson.

“It’s a tenants’ market and probably will always be until we can find a way to produce new office-producing jobs,” he said.

As well as the Class A market is doing, said McCollough, it is hard to make money in a locality with low-to-no rental rate growth and rising construction costs.

With leverage belonging to tenants, the term “as is” is seldom heard in lease negotiations, the broker added, and lamented that landlords continue to have to invest $30 to $40 a square-foot in tenant space

every five years. “It’s really hard to make money, at the end of the day,” he said, and added: “If there was never another office building built in Jackson, it would probably be fine.”

Like McCollough, Jackson commercial real estate broker Scott Overby sees a suburban and CBD office market dominated by a lot of moving around, not new product. “We’re just moving pieces of the pie around instead of growing it,” said Overby, principal of The Overby Company.

Overby said the “musical chairs” in which tenants are engaged makes sense for them. Long-term tenants don’t like the disruptions of renovating while still in the space. They also follow a natural tendency to want new quarters after 10 to 15 years. “You ask, ‘Where is the next location we can go?’”

They typically find new landlords willing to do the work to make things ready for a move-in, Overby said.

» Some activity for industrial Flex warehouse has been a slumbering workhorse but is showing signs of responding to a wake-up call, Integra Realty Resources said in the 2020 Viewpoint.

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Steady new construction of flex buildings and the attractiveness of their office and warehouse options led to the Viewpoint’s faith in a recovery, Integra said.

James “Jim” O. Turner II, a managing director at Integra, put the growth in flex space south of Pearl and north of Ridgeland. But the industrial-dominated southern end of U.S. 49 from Jackson to Florence will need relief from prolonged highway work before it can expand, he said.

The upside is that the multi new highway lanes near Florence should give better access to the flex properties and could help spur tenant growth and new construction. “Florence and Richland should see a revival” in their flex markets, Turner said.

Add retail and commercial to the growth mix, he advised, and cited strong school districts and easier access between interstate highways and U.S. 49 as reasons why. “Once it is easier to access employment centers,” growth in all sectors will follow, Turner said, reflecting on the impact of new large employers such as Continental Tire, which recently began operations on a mega-site off Interstate 20 east of Clinton with a workforce of about 3,000.

Continental’s impact on industrial See SUBURBAN, Page 27

General Contractors

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General Contractors Company Address

Phone Number Website

Founded Top Officer

Specialties

American Field Service Corporation 110 American Way, Madison, MS 39110

601-853-1000

1968 Cynthia Warner

General, Highway, Street and Bridge

Barlow Construction P.O. Box 2898, Ridgeland, MS 39158-2898

601-856-2108 beccoinc.com

1996 Joe Barlow

Commercial Construction; Construction Management; Office / Warehouse; Preengineered Buildings; Industrial; Retail; Medical

Benchmark Construction 1867 Crane Ridge Dr., Jackson, MS 39216

601-362-6110 benchmarkms.com

1979 David Marsh

General contractors; construction managers

Blackburn Construction, Inc. 2088 Old Taylor Road, Oxford, MS 38655

662-513-4194 rjaa.com

1984 David Blackburn

Multi-family, Office, and Retail

Brasfield & Gorrie 1076 Highland Colony Parkway, Suite 375, Ridgeland, MS 39157

769-777-3030 brasfieldgorrie.com

1964 Miller Gorrie

general contracting, design-build, and construction management services. Skilled in construction best practices, including virtual design + construction, integrated project delivery, sustainable and lean construction

Carothers Construction Inc. 31 Highway 328, Oxford, MS 38655

662-513-8820 carothersconstruction.com

1957 Ben Logan

Federal, Public, Private General Contractor specializing in Design/Build, Construction Management, and Build-to-Suit Construction

Century Construction Group 705 Robert E. Lee Dr., Tupelo, MS 38802 Clark Construction Inc. of Mississippi PO Box 828, McComb, MS 39649 Coleman Hammons Construction Co. 5181 Old Brandon Rd., Pearl, MS 39208

662-844-3331 centurycr.com 601-684-4710 clarkinc.com

General Construction; Heavy Civil; Road and Bridge; Trucking; Demolition;

601-932-7581

1997 Colin Maloney, Sr 1981 Brad Clark 1978 Coleman Hammons

Copeland & Johns Inc. 5193 Old Brandon Road, Pearl, MS 39208

601-922-0024 copelandandjohns.com

1978 Dupree Petty, Thomas Cronin

Dan Hensarling Inc. P.O. Box 3927, Gulfport, MS 39505 David Smith Construction Inc. PO Box 91, Inverness, MS 38753 Dickerson & Bowen Inc. 669 Industrial Park Rd. NE, Brookhaven, MS 39601

228-832-6622 danhensarlinginc.com 662-265-6060 dsmithconstructioninc.com

1997 Dan Hensarling 1995 David Smith

Industrial, Commercial, Civil,Design Build; corporate; hospitality; health care; higher ed; sports; retail/mixed-use; energy; site improvements; infrastructure; site development; student housing; ecclesiastical Commercial and industrial construction with Design/Build capabilities.

Banks, Schools, Multi Family Housing, Renovations

601-833-4291 dickersonandbowen.com

1947 Lester Williams

Road construction

Parking lots/driveways; residential & commercial developments; airports; city streets; county roads; state highways

Dunn Roadbuilders, LLC 411 W. Oak St., Laurel, MS 39441

601-649-4111 dunnroadbuilders.com

1878 Clifton Beckman, Jr.

Asphalt paving; trucking; surface treatment; milling; site work; construction materials sales

GE Aviation, Ellisville; Highway 84 from Waynesboro to State Line; I-59 Jones County; Hwy 15 Jones Co.; I-59 Clarke Co.; Hwy 42 Greene Co. I-59 Lamar Co.

601-445-4649

Metal Buildings

Magnolia Bluffs Casino; Family Dental Clinic

662-673-1644

1974 Richard Edgin 2002 David England

Eutaw Construction Co., Inc. P.O. Box 2482, Madison, MS 39130

601-855-7474 eutawconstruction.com

1980 Robert Elmore

Heavy Sitework and Road construction; utility work

US 49 E Bridge Replacement, Tallahatchie County, MS; Colony Park Blvd. Ridgeland, MS; Byram-Clinton Corridor, Clinton, MS; ToyotaMazda Mass Grading Package, Huntsville, AL;

F.L. Crane & Sons Inc. 508 S. Spring St., Fulton, MS 38843

662-862-2172 flcrane.com

1946 Chip Crane

Acoustical; Drywall; EIFS; Exterior Metal Panel Systems; Flooring; Ceramic Tile; Spray Foam Insulation; Pre-Fab Exterior Panels

Dudy Noble Baseball Facility; Winston County Medical Center; Mississippi Arts; North Mississippi Medical Center.

Flagstar Construction Company, Inc. 2006 Aspen Cove, Brandon, MS 39042

601-824-4646 flagstarconstruction.com

1995 Steve Rowell, Rita Alexander, R Kittrell

Commercial general contracting

New St Dominic ED Expansion; Pelahatchie High School; Clinton Park Elementary School Addition; College Hill MB Church; Oxford Elementary School Bid Pack C; Florence High School Additions; Coahoma County Admin & Bus Maintenance Buildings

Fletcher Construction Co. Inc. 3311 Short Cut Rd., Pascagoula, MS 39581

228-762-5792 fletcherconst.com

1962 Lance McCarty, Hank Torjusen

General contracting; design/build; construction management

Fountain Construction Co., Inc. 5655 Hwy. 18 W., Jackson, MS 39209

601-373-4162 fountainconstruction.com

1959 Brad Fountain

General; electrical; mechanical; sheet metal; rigging & crane service

Hartfield Academy Expansion; MS Trademart Expansion; St. Andrews Upper and Lower School Expansions; UMMC Translational Reseach Center

228-863-8614

IKBI Inc. 114 Maintenance Rd., Choctaw, MS 39350

601-656-1153 ikbiinc.com

2004 Ben Brummet

Public Works Construction, Paving, Pile Driving Churches; Medical offices; Schools and Universities Indian Owned Small Business & HubZone Certified; Construction management; commerical & institutional; industrial; singlefamily/multi-familty housing; highway/street/ bridge; water & sewer

Gulf coast

662-489-2567

1921 George Hopkins, III 1968 James Hooker

Irby Construction Company 318 Old Highway 49 South, Richland, MS 39218

601-709-4729 irbyconstruction.com

1946 Lee Jones

Edgin Builders 8 Feltus St., Natchez, MS 39120 England Enterprises, Inc. 8295 Wildwood Road, Vaughan, MS 39179

George P. Hopkins Inc. 520 34th Street, Gulfport, MS 39507 Hooker Construction, Inc. P.O. Box 8, Thaxton, MS 38871

General contractor General

Representative Area Projects

Base Supply Center, Waterways Experiment Station; Sentry Care; Sprint Mart; St. Peter Orthodox Church; MSAg - Yazoo City; Dr. Jeffery Jones Chiropractic Clinic; Holmes County Circuit Court Facility; The Bank of Yazoo;The Hightower Agency Coahoma County Justice Complex, Webster County Courthouse, St John Catholic Church, Clay County Courthouse, Benton County Jail, Choctaw Council Hall, Cade Chapel Church.

Gin on Russell, The Hub at Oxford, Highland Court, Southaven Marketplace, Molly Barr Trails, Molly Barr Ridge, Russell Street Flats UMMC Children's Hospital, Continental Tire, Confidential Aerospace Client, Renaissance at Colony Park Phase II, Regions Mortgage Operations Center, and Columbus Orthopaedic Intel Secure Building, Goodfellow AFB, TX; Renovation of Hangars, Pittsburgh, ARS, PA; Elementary School, Fort Rucker, AL; Elementary School, Maxwell AFB, AL; White Elementary School, Fort Benning, GA; Consolidated Shipping Center, Richmond, KY Winston County Hospital; Swayze Staduim Ole Miss; Highway bridges in Leflore and Lee counties.

Sams Clubs, Ashley Furniture, Retail Centers, Multifamily, Assisted Living Hummer of Brandon; Bank First; Jackson Farmer's Market; Forest Elementary School Attendance Hall; We Care Hospice The Refuge Hotel & Conference; Continental Tire Training; Pinelake Church; The Mill at MSU; Entergy Distribution Center; Performance Sports; Alpha Phi-UM; MSU Locker Room; Bank Plus Tupelo

New Construction, Renovations

SMB Honors College at University of Mississippi; Smithville Baptist Church.

B.B. King Museum and Delta Interpretive Center; NASA A-3 Structural Steel; NASA E-1 Cell 3 Flame Trench; NASA A-3 Dock Facilities Area; USACE Vicksburg Building 3275 Demo; USACE Moody Air Force Base, GA HC-130J Simulator Facility.

Powerline construction & maintenance

Federal Express World Headquarters, Memphis, Tenn.; Nissan, Canton, MS; RSA Tower, Mobile, AL; Continental Tire, Clinton, MS; Airbus, Mobile, AL; Ice Detention Center, Houston, TX Galloway United Methodist Church; Office Renovation Fondren, J.A. Moss Construction Company Inc. 601-939-4141 1985 General constuction management, Foundation Repair Woodlands, Parking Garage Repair Jackson, jamossconstruction.com James Moss renovation, design/build services P.O. Box 180460, Richland, MS 39218-0460 Midtown Public Charter School Jackson Round Island Lighthouse, Charnley-Norwood House and Beauvier General Commercial Contracting; J.O. Collins Contractor, Inc. 228-374-5314 1954 restorations; Sharkheads rebuild; Edgewater Mall renovations. MS Commercial Renovation; Military jocollinscontractor.com Charles Collins State Port Terminal 1 and Perimeter Landscaping, Pav & Broome 206 Iberville Drive, Biloxi, MS 39531 construction.

Addition, Kitchen Finish at White Pillars J.W. Puckett & Company 228-896-6201 1970 Commercial, Industrial, Educational and MGCCC New Student Union and Cafeteria; New Stadium Seating jwpuckett.com Chris Crighton Goverment Buildings OSSD; Fire Station #10 City of Biloxi 12284 Intraplex Pkwy, Gulfport, MS 39503 JBL Contractors 228-863-0303 1994 Heavy; civil; commercial; municipal Stennis Potable Water System upgrades; Soria City infrastructure jlb-co.com Jimmy Levens construction improvements.

21294 Johnson Road, Long Beach, MS 39560 List is ranked alphabetically. Information provided by company representatives and MBJ research. Direct comments to frank.brown@msbusiness.com.

Ivey Mechanical Company, LLC 134 W. Washington St., Kosciusko, MS 39090

662-289-3646 iveymechanical.com

1947 Larry Terrell

Plumbing; HVAC; emergency & disaster; BIM & drafting; fabrication; LEED; Construction and Service

General Contractors

General Contractors

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Company Address

Phone Number Website

Founded Top Officer

Specialties

Representative Area Projects

JESCO, Inc. 2020 McCullough Blvd., Tupelo, MS 38801

662-842-3240 jescoinc.net

1941 Jerry Maxcy

Construction-engineering; mechanicalelectrical; industrial services; millwrightmaintenance; steel fabrication

Paccar Engine, Airbus Helicopters, CAT, Baldor Electric, Mueller Industries, Cooper Tire, PECO Foods, Wayne Farms, Riceland Foods, Diamond Pet Food, Mercedes, Volvo, Nissan, Norbord, Ashley, Southern Motion, HM Richards, Grammar, Vuteq, Electrolux

601-651-2854 ridgewaybuilt.com

1960 John Ridgeway Sr.

Residential New Home Construction, Renovations, Religious Buildings and Facilities, Office

601-898-9892 keyconstructors.com

Bridges and Roads

John W. Ridgeway Contractors, LLC dba Ridgeway Homes 852 Ellisville Blvd., Laurel , MS 39440 Key Constructors LLC 219 Key Dr., Madison, MS 39130 Kimes & Stone Construction Co. Inc. 484 Hwy. 145 S., Booneville, MS 38829 L & A Contracting Company 100 Sims Road, Hattiesburg, MS 39401

601-264-2100 landacontracting.com

1973 Rick Webster 1927 Earl Stone 1947 Lee Sims, Charlie Sutherland

Malouf Construction LLC PO Box 1177, Greenwood, MS 38935

662-455-6111 maloufconstruction.com

1987 George Malouf

McCarty King Construction 1545 Cliff Gookin Blvd., Tupelo, MS 38804

662-350-0780 mccartyking.com

1983 Dan King, Justin King

Health care; elder care; industrial; commercial

Mid State Construction 300 Briarwood West Dr., Jackson, MS 39206

601-956-9500 msconst.com

1958 William Ware, P Bernheim

Construction management, Value Analysis, Commercial, Renovation

JFarmers Grain River Terminal - Greenville; Oxford WWTP, Oxford, MS; Viking Road, Greenwood, MS; UMMC Mill Street Substation, Jackson, MS; Johnson Creek Greenway, Desota County, MS; Stribling Equipment, Winona, MS Crossroads Shopping Center; North Mississippi Medical Center; Trigger Time Gun Range; First United Methodist Church New Albany; West Point Family Medical Clinic Entergy Transmission Headquarters; Germantown High School; Methodist Rehabilitation Center; St. Catherine's Village; Albriton's Jewelry, Highland Village, Jackson Academy, The First Bank

601-540-4650

1997

Single family new construction homes, primarily in Rankin County.

Glen Arbor Phase 2

601-267-3023 nlcarsonconstructioncoinc.com

Bridges, Culverts, Overpasses

601-833-5171

1972 Lee Carson 1970 John Nall 1970 Joel Smith

Orocon Construction, LLC 325 Reynoir St., Biloxi, MS 39530

228-432-5922 oroconllc.com

2006 John Oropesa

General Construction, Construction Management, Design-Build, Concrete Construction

Paul Jackson & Son Inc. 319 Hwy. 550 N.W., Brookhaven, MS 39601

601-833-3453 pauljacksonandson.com

1953 Paul Jackson

General Construction

Peoples Construction Corp.

3913 Underwood Dr., Flowood, MS 39232

601-932-1111 peoplesconstruction.com

1966 Jeff Peoples

Perry Construction Co. 242 W. Main St., Philadelphia, MS 39350

601-656-4283

1934 Don Perry

General Contractor for medium sized commercial projects; design/build; preconstruction consulting; value engineering; cost segregation analysis Construction, excavation, public works, structural steel

Probity Contracting Group 809 N. Church St. , Florence, MS 39073

601-891-4100

2014 Mike Harrell

General Construction

Kinesology School at MSU-Meridian; Dorm at Belhaven University; Residential Housing at Mississippi College; Juniker Jewelers, Madison; Office renovations for C Spire.

PSC Corporation 385-B Highland Colony Pkwy., Ste. 502, Ridgeland, MS 39157

601-956-5656

1988 Ellen Ambrosino

Commercial developer

Galleria

Roy Anderson Corp 11400 Reichold Rd., Gulfport, MS 39503

228-896-4000 rac.com

1955 J Mark Smith

General Contracting; Construction Management; Design-Build; Preconstruction Services

Roy Collins Construction Co. Inc. 406 Third St., Cleveland, MS 38732

662-843-5060 roycollinsconstruction.com

1941 Roy Collins

Ole Miss Union Addition; Mississippi Aquarium; Entergy NSP Echelon Renovation; Huntington Ingalls East Bank Revitalization IPD, CUC, & Main Electrical Substation; Coast Transit Authority Gulfport Transit Center Nufarm, Greenville, MS Baxter Labs, Cleveland, MS Delta State University President's Home Havens Apartments, Tupelo, MS Monsanto, Scott, MS Chatmoss Subdivision, Cleveland, MS Cleveland Public Schools, Cleveland, MS Paving work, City of Cleveland

Samuel B. Day Construction Co. Inc. 15296 S Swan Road, Gulfport, MS 39503

228-832-2077

Southern Diversified Technologies Inc. 130 N. Second St., Brookhaven, MS 39602

601-823-9440 www.sdt-1.com

Starks Contracting Company Inc. 1538 Popps Ferry Rd., Biloxi, MS 39532 Stewart Construction Co. 910 Eden Street, Pascagoula, MS 39581 T.L. Wallace Construction Inc. 4025 Highway 35, Columbia, MS 39429

228-392-4584 starkscontracting.com

601-736-4525 tlwallace.com

1993 Samuel Day 1993 Charlie Smith, James Ezell, Jr. 1967 Weldon Starks 1993 Tim Stewart 1975 Austin Morgan

The Yates Companies Inc. P.O Box 385, Philadelphia, MS 39350

601-656-5411 yatescompanies.com

1963 Bill Yates, William Yates

Thrash Commercial Contractors Inc. 211 Commerce Drive, Brandon, MS 39042 Walters Construction Company Inc. 2051 Hwy. 84 E., Laurel, MS 39443

601-825-8967 thrashco.com 601-428-5515 waltersconstructionco.com

Mike Zattoni Inc 210 White St, Florence, MS 39073 N.L. Carson Construction Co. Inc. 2221 Waggoner Rd., Carthage, MS 39051 Nall Construction P.O. Box 1125, Madison, MS 39130 Oddee Smith Construction Inc. 1037 Macedonia Rd, Brookhaven, MS 39602

662-728-3501

601-605-1330

228-769-8977

Road, Bridges, Public Works Transportation, including new bridge construction and bridge repair: marine; environmental; debris removal; public works Civil / Site Development, Industrial Design/ Build Construction, Marine Construction, Earthwork, Piping, Pile Driving, Structural Concrete

Cold storage facilities; concrete foundations; general construction Road construction, site work, bridges

General construction; construction management; concrete; design/build; metal building sales/service; street paving, Industrial Construction; Commercial Construction Commercial and Industrial General Contracting

MS Port Authority West Pier Wharf Upgrade; Lorraine Road Bridge; Houma Navigational Canal Floodgate; I-10 Bridge over Jordan River

Southern Hens; Sanderson Farms; Tyson Foods; Merchant Foodservice, Koch Foods Lowe's-McComb, Home Depot-Brookhaven, Hwy. 84 East and WestLincoln County Long Beach High School Reno & Add; Aircraft Maint. HangarMsANG; Moss Point Police Station; Biloxi Waterfront Park; Biloxi Bait & Fuel Bldg; Walter Anderson Museum of Art Adds & Reno; Ft Maurepas Park & Pavilion

Cultivation Food Hall, Truckworx, Stribling Equipment, WAPT renovations, Barnett's Body Shop Gluckstadt, Jackson Crossfit, Watson Quality Ford renovations, Ben Nelson Golf Cars, Matress Direct, Empire Truck Sales, Ross & Yerger

Schools, municipal building, negotiated work

Telecommunications OSP network design and engineering and construction General Commercial Contractor

Biloxi High School Baseball Field; St. John Baptist Church; Wingfield Dermatology Clinic; Wells Fargo

General Contracting General; buildings; highway, street & bridge; utilities; emergency response services Design/build; construction management; general construction; operations/ maintenance; pre-construction; program management

Hillsdale Water Treatment Plant; Woodlawn United Pentecostal Church; Southern Tire Mart(s) ; Nissan Plant US Army Corps of Engineers ERDC Headquarters, Hope Lodge, I-55 Reconstruction, US Hwy 49 Reconstruction, Trustmark Bank Fondren, Millsaps Visual Arts Center

2001 Building Construction MS Civil Rights & History Museum; Brandon MS Amphitheatre Josh Thrash 1979 Site prep; excavation; paving; storm U.S. 43 in Pelahatchie; DeSoto Forest road grading; Friendly Park; Scottie Walters drainage Lowe's of Petal; Commercial Development Site; 16th Ave., Laurel 1971 Mercedes Benz, Ridgeland; Reunion Golf & Country Club, Madison; White Construction Company 601-898-5180 General construction; design/build; Guy White, Steve Baker Donelson Law Offices, Jackson; FNC Headquarters, Oxford; whiteconst.com construction management 613 Crescent Cir., Ste. 100, Ridgeland, MS 39157 Burch Capitol Arts Lofts, Jackson.

List is ranked alphabetically. Information provided by company representatives and MBJ research. Direct comments to frank.brown@msbusiness.com.

Property Management Firms

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Property Management Firms Company Address

Phone Website

Top Officer Founded

Blake Management Group 601-500-7956 Jeremy Cole, John Waits blakeliving.com 2009 1300 Meadowbrook Rd, Ste 201, Jackson, MS 39211 Bloomfield Holdings, LLC 769-972-3010 Kathy Hackshaw outletsofms.com 2013 200 Bass Pro Drive, Ste 125, Pearl, MS 39208 Carpenter Properties Inc. 601-957-1001 Phillip Carpenter carpenterproperties.com 1992 1437 Old Square Road, Suite 104, Jackson, MS 39211 CBRE, Inc. 601-420-8080 N/A cbre.com 2013 10 Canebrake Blvd., Ste. 325, Flowood, MS 39232 Century Commercial Real Estate Services 662-842-4076 Duke Loden centurycg.com 1997 705 Robert E. Lee Dr., Tupelo, MS 38801 CHD Management, LLC 601-353-4171 Al McKinney chd-inc.com 1999 1151 N. State St., Ste. 315, Jackson, MS 39202 Cook Commercial Properties, LLC 601-214-6343 Bill F. Hankins cookcommproperties.com 1995 1501 Lakeland Drive, Jackson, MS 39216 Desai Hotel Group 601-313-9307 Sunny Desai desaihotelgroup.com 2009 105 W. Washington St., Suite A2, Ridgeland, MS 39157 Duckworth Realty/Concord Capital 601-914-0800 Ted Duckworth duckworthrealty.com 1989 308 E. Pearl St., Jackson, MS 39201 Duff Real Estate, LLC 601-424-3200 Perry Phillips dcinvestors.com 2003 800 Hwy 98, Columbia, MS 39429 EastGroup Properties 601-354-3555 Marshall A Loeb eastgroup.net 1969 400 W Parkway Place Suite 100, Ridgeland, MS 39157 England Properties Bob England 601 940 3158 1989 P.O. Box 515, Madison, MS 39130 Ergon Properties Inc. 601-842-1228 Jim DeFoe ergon.com 1997 2829 Lakeland Dr., Flowood, MS 39232 The Estes Group, Inc. 601-362-9633 Brian E Estes estesgroup.net 2004 613 Crescent Circle, Ste. 102, Ridgeland, MS 39157 Flowers Properties, LLC Merle Flowers 662-349-3983 2002 864 Goodman Rd E., Southaven, MS 38671 Franklin Property Management Group 662-349-7775 N/A franklinpropmgmt.com 1999 5779 Getwell Rd., Bldg. D1, Southaven, MS 38672 Gamble Real Estate William E. Gamble 601-957-0016 1982 14 Northtown Dr., Ste. 201, Jackson, MS 39211 Greer Real Estate 601-750-9494 Melanie Greer greerrealestate.net 1994 310 Monterey Drive, Clinton, MS 39056 GumTree Property Management 662-842-4884 Wilson Coleman gumtreepm.com 1991 2005 W. Main St., Tupelo, MS 38803 H.C. Bailey Company / Colony Properties 601-853-8000 H.C. (Buster) Bailey colonypark.org 1952 1022 Highland Colony Pky., Ste. 300, Ridgeland, MS 39157 Heritage Building Corporation 601-693-4691 Tim Allred www.heritagebuildingcorp.com 1999 P.O. Box 5016, Meridian, MS 39302 Hertz Investment Group, LLC 601-974-8135 James Ingram hertzgroup.com 1979 190 E. Capitol Street, Ste. 675, Jackson, MS 39201 Homer Lee Howie Real Estate 601-362-8112 David Howie homerleehowie.com 1950 5360 I-55 N, Ste 105, Jackson, MS 39211 J. Leslie Properties, LLC Les Hardin 601-707-3066 2005 751 Avignon Dr., Ste. E, Ridgeland, MS 39157 Kennedy & Company Real Estate Inc. 601-898-2999 Steve Kennedy kennedy-realestate.com 1989 120 W. Jackson St., Ste. 2C, Ridgeland, MS 39157 Kerioth Corporation 601-368-9950 Clinton G. Herring Jr. kerioth.com 1983 361 Township Ave, Ste 200, Ridgeland, MS 39157 London & Stetelman Commercial Realtors 601-268-8770 Andy D. Stetelman londonandstetelman.com 1933 3906 Hardy St., Ste. 20, Hattiesburg, MS 39402 LRC2 Properties 601-540-6051 Luke R Chamblee lrc2.com 405 S. 11th St, Ste 104, Oxford, MS 38655 Mattiace Companies 601-352-1818 Andrew Mattiace mattiace.com 1979 125 S. Congress St., Ste. 1800, Jackson, MS 39201 MidSouth Companies, LLC 601-956-1533 Steve H. Bryan mrcdevelopment.com 637 U.S. 51 N., Suite J, Ridgeland, MS 39157 MMI Hotel Group 601-936-3666 Micajah Sturdivant mmihotelgroup.com 1956 1000 Red Fern Place, Flowood, MS 39232 Mozingo Real Estate & Auction Inc. 228-896-3400 John Mozingo, John Mozingo III mozingoauctions.com 1976 549 E. Pass Rd., Ste. D, Gulfport, MS 39507 NAI UCR Properties & Underwood Companies 601-981-6800 Tom Underwood, Micah McCullough ucrproperties.com 1948 660 Katherine Drive, Ste. 304, Jackson, MS 39232 Lane-Harkins Commercial Real Estate, LLC 601-932-4664 Nancy Lane, Josh Harkins nancylanecommercial.com 2015 12 River Bend Place, Flowood, MS 39232 Orkin Property Management, LLC 601-957-3001 Ted S. Orkin tedorkin.com 1997 15 Northtown Dr., Ste F, Jackson, MS 39211 Overby Commercial 601-366-8511 Scott Overby Overby.net 1983 1808 N. State St., Jackson, MS 39202 Peters Real Estate 601-362-8440 Mike Peters petersre.com 1995 2906 N. State St., Ste. 201, Jackson, MS 39216 Randall Commercial Group, LLC 662-234-4044 Elizabeth J Randall randallcommercialgroup.com 2009 850 Insight Park Ave., University, MS 38677 Southeast Commercial of Mississippi, LLC 228-276-2700 Monte Luffey, Tim Carlson, Scott Delano southeastcommercial.net 2009 2310 19th St., Gulfport, MS 39501 Spectrum Capital, LLC 601-351-2055 Jason R. Voyles spectrumcapitalre.com 2006 781 Larson St., Jackson, MS 39202 Spruill Property Management 662-323-5234 Lynn Spruill, Lydia Quarles spruillapts.com 2000 1016-F Louisville St., Starkville, MS 39759 Information provided by company representatives and MBJ research. Direct questions to frank.brown@msbusiness.com.

Major Properties Managed: The Blake at Township, Ridgeland; The Blake at Flowood, Flowood; The Blake at Oxford, Oxford; Claiborne at Adelaide, Starkville The Outlets of Mississippi Various light industrial properties located in metro Jackson.

10 Canebrake, Flowood; Maywood Mart, Jackson;Market Street Flowood; 201&205 Colony Way, Madison; Barnes Crossing Plaza, Tupelo Office buildings in Tupelo and Ridgeland Colonnades; Baptist Madison Campus, Medical Arts West Nissan, General Motors, Walgreen, Gentiva, United Health Care, Firestone Various Hotels Throughout Mississippi 200/400/600 Concourse, The Electric Building, The Primos Building, Market at Grants Ferry, New South Neurospine Bldg, Dickie's Lofts

Major markets of California, Arizona, Texas, Florida, Georgia & North Carolina

Mirror Lake Plaza, Various real estate holdings Mississippi and Alabama GSA, Lincoln Medical, I-55 Plaza, Flowood Office Park, Lakeview Village, Northtown Apartments. Northpointe Apartments

Shops of Deerchase; Methodist Hospital Minor Med; Grove Office Park; Deerchase Office Park; South Creek Collection, DeSoto Plaza Beau Pre' Marketplace; 108 Distribution Drive Retail and Office/Warehouse High Point Plaza, Hwy 18 Jackson; Nebletts Frame Shop Hwy 80 Jackson; Various Investment Properties

Colony Park, Ridgeland

The Pinnacle, Jackson; 111 E. Capitol, Jackson; Regions Plaza, Jackson; One Jackson Place; City Centre, Jackson; UBS Building, Jackson 5360 I-55 N; 2570 Bailey Ave 700, 740, 741 and 751 Avignon Dr., Ridgeland; 595 Northpark Drive, Ridgeland 599 NorthPark Dr. Ridgeland Olde Towne Square-120 W. Jackson St., Ridgeland. Liberty Business Center-509 Liberty Rd, Flowood.

The Township at Colony Park; Meadowbrook Office Park, Olde Madison Plaza, Magnolia Marketplace Brittany Arms, Westchester, 49 Place, Westover Crossing, Corinne Place, Adeline Place, Hardy Plaza. Midtown Strip Center

Renaissance at Colony Park, Renaissance Phase III (Costco), Fondren Place, Capital Towers, Lamar Life Building, Highland Bluff Buildings Harrison Square Condominiums, Oxford MS; Annandale Apts. Murfreesboro TN; Ashford Place Apts, W. Monroe LA

Pemberton Plaza, The Shops of Richland, Crossgates Corners, Crossgates Landing, 220-Highland Colony Business Park, Spring Lake Cove College Park, Northside Square, Hazlehurst Center, Northwest Junction, Reservoir Square, Promenade Shopping Center, Parkside Village Village Square Shopping Center in Forest, various homeowner associations in Hinds, Madison and Rankin counties.

Riverhills Tower; 3000 Fondren; Madison Market; Strawberry Festival Market; Charmant Station; 121 Colony Crossing; North Regency Square

Edgewater Village Shopping Center, Biloxi; Clower Building, Gulfport; Shoppes at Popps Ferry, Biloxi; Toggery Building, Biloxi Outlets of Mississippi, Trustmark Park, Bass Pro Shops, Pearl, MS; The Beach Club, Gulf Shores, AL; Turquoise Place, Orange Beach, AL Spruill Northside Apartments; Spruill Townhouses; Spruill Midtown; Spruill Townhomes; Quarles Properties.

Property Management Firms

Property Management Firms Company Address

Phone Website

Top Officer Founded

StateStreet Group, LLC 601-981-4445 John K. Ditto statestreetgroup.com 1971 P.O. Box 13925, Jackson, MS 39236-3925 T.L. Brown Properties 601-981-1170 Tim Brown tlbrownproperties.com 1979 1991 Lakeland Dr., Ste. J, Jackson, MS 39216 Terramark 601-345-3335 Trey Guerieri terramarkcre.com 2012 4775 Old Canton Rd, Jackson, MS 39211 The Cress Group, LLC 601-707-1300 Gary Cress cresscre.com 1992 200 W. Jackson St., Ste. 200, Ridgeland, MS 39157 The District Management Co., LLC 601-914-0800 Breck Hines, Ted Duckworth thedistrictateastover.com 2015 308 E. Pearl St. Suite 200, Jackson, MS 39201 TRI Inc. Commercial Realtors 662-842-8283 Clay Short trirealestate.net 1952 600 W Main St, Suite B, Tupelo, MS 38804 Woodlands Realty Group, LLC 601-956-9833 Russell Wilcox woodlandsrealtygroup.com 2003 800 Woodlands Pkwy., Ste. 118, Ridgeland, MS 39157 Information provided by company representatives and MBJ research. Direct questions to frank.brown@msbusiness.com.

Feb. 8 - Feb. 21, 2020

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Major Properties 200 N. Congress, 1501 Lakeland Bldg, 220 Business Park/Highland Colony, Lakeland Square, Eastover Commons, The Quarter

LeFluer Square Offices; Madison & Main; 16 Northtown Dr, 3220 N State St, 3977 Terry Rd, 406-408 Clinton Blvd., 6080 Highway 18 W. 200-202 W. Jackson St, Ridgeland; 46 Sgt Prentiss Dr, Natchez; 2550 Flowood Dr, Flowood; HORNE, Ridgeland; Meridian shopping centers The District at Eastover; One Eastover Center Girls Scouts of America North Mississippi headquarters, The Shoppes at Barnes Crossing retail center, and Regions Bank Main branch Woodlands Office Park - Class A Office Park in Ridgeland, MS

SUBURBAN

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real estate will be significant, said MCollough, the associate broker at NAI UCR Properties. But he said he has received reports that Continental won’t have the kind of economic ripple effects in east and south Hinds County that Nissan brought northern Madison County. Making tires for commercial trucks doesn’t require the lengthy list of suppliers and contractors that automobile manufacturing does, McCollough noted.

A similar expectation comes from Overby, the Overby Company principal.

“I personally haven’t seen a huge spurt in growth,” he said.

But Continental’s presence will have a positive impact by showing other industrial-space users “we have an employment base for manufacturers” and are a good bet for investors, Overby said.

The broker said he’s getting strong leasing from flex warehouses around Brandon and Gluckstadt and some sections of Jackson. Building owners like the ease of modifying the properties for different uses, Overby said.

“No owner is shackled to one kind of use when a tenant leaves,” he said, and noted he recently worked with an owner who easily converted space into a martial arts studio after an HVAC company moved out.

While Overby said he thinks the industrial market can accommodate new buildings of 25,000 to 35,000 square feet, McCollough said returns on rents must improve first.

“There is still probably a $2 a squarefoot-to-$3 a square-foot difference in what new construction would cost versus if you can find existing product that would work for a user,” McCollough said.

That trend could change over the next three years or so, he said, as “e-commerce fulfillment continues to become more prevalent in Jackson and supply continues to become more and more restrained.”