May 26, 2016
As return on investment in other parts of the country declines, some investors are checking out South Mississippi. In a recent transaction, Rushmore Properties LLC of Chicago beat out 12 other offers to acquire the 149,000-square-foot Edgewater Village Shopping Center at 2650 Beach Blvd. in Biloxi, MS. Meanwhile, Coldwell Banker Commercial Alfonso Realty in Gulfport has four commercial properties – including retail, office and industrial – under contract.
“I think there’s definitely more happening now than there has been in years,” said Kenneth Jones II, commercial agent/manager at Coldwell Banker Commercial Alfonso Realty in Gulfport. He recently teamed with Sam Ford to sell a shopping center at 9113 U.S. 49 in Gulfport. Though the new owner has almost filled the 13,000-square-foot center, Jones said he’s receiving many inquiries from prospective tenants interested in leasing there.