Mobile Office Properties for Lease and For Sale Summer 2011 “Data you can use” “Education you can use” This report and others are found on the Center website: http://cres.southalabama.edu USA takes reasonable measures to ensure the quality of the data and other information produced. However, USA makes no warranty, express or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, or completeness of any information, nor represents that its use would not infringe on privately owned rights. Reference to any specific commercial product, process, or service does not constitute an endorsement, recommendation, or favoring by USA. Introduction The following report is one of four commercial reports generated by the Mitchell College of Business, Center for Real Estate Studies. This report contains information for Summer 2011 Office properties. Readers should remember that the data covers advertised "for lease" and "for sale" data only. Final Sale information is excluded. The information source for the Industrial data is the Commercial Property Directory, www.commercialpropertydirectory.com Birmingham, AL. In addition to the Office report, three other commercial reports (Land, Industrial and Retail) can be found on the Center for Real Estate Studies website: http://cres.southalabama.edu For additional information, please contact: Don Epley, Director, Center for Real Estate Studies Mitchell College of Business, University of South Alabama Phone: 251.460.6735 Email: depley@usouthal.edu The data for this report was completed by: Meredith McCutchen, MBA Student Mitchell College of Business Mobile Office Properties For Lease and For Sale Table of Contents Introduction Page 2 Report Summary Page 4 List of Zip Codes Page 5 Table 1: Asking Lease Rate per Square Foot by Zip Code Pages 6 -9 Table 2: Calculated Vacancy Rate by Zip Code Pages 10 - 13 Table 3: Total Market of Office Properties Advertised for Lease Pages 14 - 20 Table 4: Advertised Sales Price and Square Foot by Zip Code Pages 21 - 23 Table 5: Sales Price per Square Foot by Zip Code Pages 24 - 26 Table 6: Total Market of Office Properties Advertised for Sale Pages 27 - 30 Center for Real Estate Studies Mitchell College of Business University of South Alabama Report Summary 2011 Advertised Office Properties for Lease: Total Properties Listed ……………………………………121 Asking Lease Rate per S.F. ……………………………. Median $12.00 on 94 Properties Reporting Total Advertised S.F. ………………………………………Median 7,708 on 80 Properties Reporting Total Advertised S.F. ………………………………………1,988,041 on 80 Properties Reporting Total Available S.F. …………………………………………935,497 on 104 Properties Reporting Available S.F. …………………………………………….. Median 4,770 on 104 Properties Reporting 2011 Advertised Office Properties for Sale: Total Properties Listed ……………………………………67 Sales Price …………………………………………………. Median $439,000 on 65 Properties Reporting Building S.F. ……………………………………………………Median 7,300 on 45 Properties Reporting Sales Price per Building S.F. ……………………………Median $67.12 on 43 Properties Reporting Site S.F. ………………………………………………………… Median 5,200 on 51 Properties Reporting Sales Price per Site S.F. ……………………………………Median $12.00 on 28 Properties Reporting Note: This data covers only properties advertised for lease and for sale as an indication of current market activity. They do not represent the total inventory. For example, the building s.f. represents only buildings that are advertised with available space. Owner-occupied property is also excluded. Mobile County Zip Codes Zip Code 36505 36509 36512 36521 36522 36523 36525 36528 36541 36544 36560 36568 36571 36572 36575 36582 36587 36590 36601 36602 36603 36604 36605 36606 36607 36608 36609 36610 36611 36612 36613 36615 36616 36617 36618 36619 36621 36622 36625 36628 36630 36633 City Area Code Axis 251 Bayou La Batre 251 Bucks 251 Chunchula 251 Citronelle 251 Coden 251 Creola 251 Dauphin Island 251 Grand Bay 251 Irvington 251 Mount Vernon 251 Saint Elmo 251 Saraland 251 Satsuma 251 Semmes 251 Theodore 251 Wilmer 251 Theodore 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 251 Mobile Mobile 251 Mobile 251 Mobile 251 Eight Mile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Mobile 251 Zip Code 36640 36641 36644 36652 36660 36663 36670 36671 36675 36685 36688 36689 36690 36691 36693 36695 City Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Mobile Area Code 251 251 251 251 251 251 251 251 251 251 251 251 251 251 251 251 58 Total Mobile Office Properties Advertised For Lease Summer 2011 Asking Lease Rate per S.F. by Zipcode Table 1. Zipcode 36571 36571 36571 36572 36582 36582 36582 36582 36582 36582 36590 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 Asking Lease S.F. $13.25 $4.00 $12.00 $4.50 $8.40 $8.40 $8.00 $12.00 $8.00 $5.00 $3.50 $17.50 $16.00 $14.00 $14.50 $10.50 $12.00 $16.00 $16.00 $16.00 $14.00 Total Advertised S.F. 3,600 12,000 5,000 6,300 8,750 19,000 40,000 14,500 20,000 12,132 39,000 7,716 13,200 105,226 284,000 $14.00 $10.63 2,040 2,820 9,200 $6.00 $16.00 25,000 6,000 Mobile Office Properties Advertised For Lease Summer 2011 Asking Lease Rate per S.F. by Zipcode Table 1. Zipcode Asking Lease S.F. Total Advertised S.F. 36602 36603 36603 36605 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36607 36607 36607 36608 36608 36608 36608 36609 36609 36609 36609 $12.00 5,000 $16.00 $3.00 $10.00 $14.00 1,500 200,000 $17.50 $10.00 $4.50 $5.96 $12.00 $12.00 $14.00 $6.00 $25.00 $12.00 $10.28 $10.00 $8.50 $8.50 $10.00 $1.17 $10.00 $13.50 $10.00 $13.50 117,565 2,040 80,000 10,300 9,600 9,060 5,600 2,150 32,391 1,500 3,500 4,800 6,824 1,400 9,570 9,570 8,946 4,263 11,100 20,000 127,766 Mobile Office Properties Advertised For Lease Summer 2011 Asking Lease Rate per S.F. by Zipcode Table 1. Zipcode Asking Lease S.F. 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36610 36610 36618 36618 36618 36618 36619 36619 36619 $14.00 $14.00 $12.00 $10.00 $9.00 $13.25 $6.38 $9.99 $10.71 $12.00 $12.00 $12.50 $13.00 $17.00 $12.00 $58.00 $12.00 $15.00 $15.00 Total Advertised S.F. 99,616 55,944 7,700 12,000 3,055 1,400 3,600 1,250 4,740 3,795 174,321 4,400 3,600 50,000 5,000 $16.00 $10.00 $12.00 $2.75 $12.00 $10.00 $10.67 60,000 4,060 11,700 1,836 $13.50 $11.00 $7.00 7,500 21,800 Mobile Office Properties Advertised For Lease Summer 2011 Asking Lease Rate per S.F. by Zipcode Table 1. Zipcode Asking Lease S.F. 36619 36688 36693 36693 36693 36693 36693 36693 36693 36693 36693 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 Median Properties Reporting $12.00 $18.00 $10.00 $10.00 $8.50 $13.50 $10.45 $10.00 $13.00 $12.00 $12.00 $6.13 $16.30 Total Advertised S.F. 27,000 770 8,000 7,000 1,200 4,000 12,000 4,932 7,500 1,680 $10.00 3,250 3,696 16,697 4,000 29,070 $12.00 $7,708.00 93 80 Mobile Office Properties Advertised For Lease Summer 2011 Calculated Vacancy Rate by Zipcode Table 2. Zipcode 36571 36571 36572 36582 36582 36582 36582 36582 36590 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 36602 Total Advertised Advertised Calculated S.F. Available S.F. Vacancy Rate (%) 1,750 20,000 3,600 900 25% 12,000 12,000 100% 5,000 5,000 100% 3,350 6,300 1,050 17% 8,750 8,750 100% 2,928 19,000 4,100 22% 50,000 40,000 14,500 2,500 17% 10,000 20,000 20,000 100% 12,132 12,132 100% 39,000 2,726 7% 3,690 7,716 7,716 100% 13,200 3,300 25% 105,226 284,000 60,000 21% 62,632 2,040 2,040 100% 2,820 2,820 100% 9,200 18,000 25,000 25,000 100% 6,000 1,500 25% 5,000 5,000 100% Mobile Office Properties Advertised For Lease Summer 2011 Calculated Vacancy Rate by Zipcode Table 2. Zipcode 36603 36603 36605 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36607 36607 36607 36608 36608 36608 36609 36609 36609 36609 Total Advertised Advertised Calculated S.F. Available S.F. Vacancy Rate (%) 1,500 200,000 117,565 2,040 80,000 10,300 9,600 9,060 5,600 2,150 32,391 1,500 3,500 4,800 6,824 1,400 9,570 9,570 8,946 4,263 11,100 20,000 127,766 9,800 1,500 1,000 11,531 2,040 23,000 7,300 2,300 2,400 9,060 3,000 5,600 2,150 32,391 3,500 1,200 6,824 3,100 9,570 9,570 8,946 1,475 750 2,550 4,400 4,800 11,145 100% 10% 100% 29% 71% 25% 100% 100% 100% 100% 100% 25% 100% 100% 100% 100% 35% 23% 24% 9% Mobile Office Properties Advertised For Lease Summer 2011 Calculated Vacancy Rate by Zipcode Table 2. Zipcode 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36610 36610 36618 36618 36618 36618 36619 Total Advertised Advertised Calculated S.F. Available S.F. Vacancy Rate (%) 99,616 55,944 7,700 12,000 3,055 1,400 3,600 1,250 4,740 3,795 174,321 4,400 3,600 50,000 5,000 21,800 60,000 4,060 11,700 1,836 12,466 3,869 5,000 4,620 10,000 3,000 3,200 3,055 100% 3,600 100% 4,740 2,530 22,993 4,400 7,769 11,985 1,800 11,600 7,350 5,000 8,850 21,800 7,276 60,000 4,060 11,700 1,836 1,200 25,636 100% 67% 13% 100% 13% 7% 60% 83% 50% 23% 100% 100% 100% 100% 100% 100% Mobile Office Properties Advertised For Lease Summer 2011 Calculated Vacancy Rate by Zipcode Table 2. Zipcode 36619 36619 36619 36688 36693 36693 36693 36693 36693 36693 36693 36693 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 36695 Total Median Properties Reporting Total Advertised Advertised Calculated S.F. Available S.F. Vacancy Rate (%) 7,500 27,000 770 8,000 7,000 1,200 4,000 12,000 4,932 7,500 1,680 4,300 7,500 1,500 25,000 8,000 1,050 770 3,150 7,000 1,200 1,260 4,932 1,250 2,500 1,988,041 7,708 15,000 3,250 3,307 16,697 1,200 10,210 6,300 926,497 4,740 80 103 3,250 3,696 16,697 4,000 29,070 100% 30% 100% 39% 100% 100% 100% 33% 100% 89% 100% 30% 35% Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code Property Name 36571 14 Highway 43 Location 14 Hwy 43 City Yr Blt Yr # Parking Reno Floors Total S.F. Price S.F. Avail S.F. Agent / Phone James Henderson 251-442-2194 Saraland 36571 Industrial Parkway Center 710 Industrial Parkway Saraland 2005 36571 Sawyer Furniture Building 207 Highway 43 N. Saraland 1 36572 5717 Hwy. 43 5717 Hwy. 43 Satsuma 1 36582 5721 Hwy 90 5721 Hwy 90 W Theodore 2001 1 Free 36582 5784 Hwy 90 W 5784 Hwy 90 W Theodore 1997 1 Free 6,300 36582 Spanish Trail Court 6250 Spanish Trail Court Theodore 1 Free 12,000 36582 THEODORE DAWES 7250 & 7260 Theodore Dawes Road Theodore 1 Ample 8,750 36582 Plantation Square 6095 - 6105 Old Pascagoula Rd Theodore 3,600 $13.25 1,750 John Delchamps 251-476-0808 $4.00 20,000 John Delchamps 251-476-0808 $12.00 900 Holly Shirley 251-300-3397 3,350 Angela Mcarthur 251-639-4007 $8.40 1,050 David Cooper 251-639-4007 $4.50 12,000 Marl Cummings Iv 251-476-6000 8,750 Tammy Adcock 251-438-4312 Terry Mckinney 251-460-0910 $8.00 36582 5520-1 Business ParkWay 5520-1 Business Parkway Theodore 2001 1 36590 Theodore Office Space 5973 HWY. 90 W Theodore 1955 36602 304 Government Street 304 Government Street Mobile 36602 Fort Conde Village 200, 206 S Royal Street Mobile 36602 LaClede Office Building 150 Government Street Mobile 36602 305 Delchamps Dr. 305 Delchamps Drive Mobile 36602 THE BAYPORT BUILDING 5 Dauphin Street Mobile 36602 653 St Louis 653 St Louis St Mobile 1 36602 Dauphin St 3 Dauphin St Mobile 2 5,000 2011 2005 3 3 1904 Free 1985 $8.40 5,000 Tony Cooper, Ccim 251-6394007 $12.00 2,928 Rob Copeland 251-928-4224 $5.00 50,000 Adam Metcalfe 251-432-2600 Free 12,132 $14.00 12,132 Allan R. Cameron, Jr. 251-438-4312 Leased 39,000 $14.50 2,726 Allan R. Cameron, Jr. 251-438-4312 40,000 $3.50 14,500 $17.50 2,500 Brian Metcalfe 251-432-2600 25,000 $6.00 25,000 Gavin Bender 6,000 $16.00 1,500 Gavin Bender 3 Free Brian Metcalfe 251-432-2600 Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code Property Name Location City Yr Blt Yr # Parking Reno Floors 36602 Civic Center Dr 456 Civic Center Dr Mobile 36602 Wachovia Bank Building 61 St. Joseph Street Mobile 36602 202 Government Street 202 Government Street Mobile 3 Free Mobile 2 Leased 36602 Downtown Mobile Office 54-56 St. Emanuel Street for Sale or Lease 2 36602 One St. Louis Centre 1 St Louis Street Mobile 36602 St. Joseph Street 59 St. Joseph Street Mobile 36602 Regions Bank Building 106 St. Francis Mobile 36602 450 Government Street 458Government Street Mobile 1997 36602 Ft. Conde Office Space 200 S. Royal Street Mobile 2001 601 Church St Mobile 36602 3 Dauphin Street 3 Dauphin Street Mobile 36602 3 Dauphin Street 3 Dauphin Street Mobile 36602 Two South Water Street Two South Water Street, 4th Floor Mobile 36602 401 Dauphin Street 401 Dauphin Street Mobile 36602 Parkview Plaza 182 Saint Francis Street, Ste 303 Mobile 36603 354 St. Emanuel Street 354 St. Emanuel Street Mobile 805 Church Street Mobile 36602 Church Street Office Building 36603 Church Street Office/Warehouse 36605 Dauphin Island Parkway & 1600 Dauphin Island I-10 Parkway Mobile Free 1986 Total S.F. Price S.F. Avail S.F. Agent / Phone 5,000 $12.00 5,000 Gavin Bender $14.00 62,632 Jill Meeks 251-342-7229 $16.00 10,000 John D. Peebles 251-438-4312 20,000 John D. Peebles 251-438-4312 20,000 105,226 John Toomey 251-342-7229 $16.00 John Vallas 251-344-1444 2 Leased 284,000 $16.00 60,000 Josh Hall 251-342-7229 1 Free 19,000 $8.00 4,100 Michael Mcaleer 251-432-1854 1 Free 2,040 $14.00 2,040 Pete Riehm 251-438-4312 2,820 $10.63 2,820 Pratt Thomas 251-476-0808 $10.50 3,690 Ralph Neal, Iii 251-602-1403 2 1854 1979 2 Not Available 7,716 $12.00 7,716 Ralph Neal, Iii 251-602-1403 4 Free 13,200 $16.00 3,300 Ralph Neal, Iii 251-602-1403 2 2006 2 Todd Drummond 251-694-1180 9,200 Free 1,500 $16.00 Free 1 200,000 $3.00 18,000 Todd Drummond 251-694-1180 1,500 David Dexter 251-471-1000 9,800 John D. Peebles 251-438-4312 Marl Cummings, Iii 251-476-6000 Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code Total S.F. Avail S.F. Agent / Phone 2,040 Adam Metcalfe 251-432-2600 City 36606 2300 Airport Blvd. 2300-C Airport Boulevard Mobile 36606 Xante’ Center 2800 Dauphin Street Mobile 36606 311 South Sage Avenue 311 South Sage Avenue Mobile 36606 Hilton Square 3103 Airport Blvd. Mobile 36606 Tacon Street 32 Tacon Street Mobile 36606 Medical Office Building 1563 Springhill Ave. Mobile 1 10,300 36606 Old Government Street 2150 Old Government Street Mobile 1 1,500 2507 Commercial Park Drive Mobile 36606 3350 Halls Mill Road 3350 Halls Mill Road Mobile 1 Ample 9,600 $4.50 2,400 36606 63 Midtown Park East 63 Midtown Park East Mobile 2 Ample 9,060 $5.96 9,060 36606 Airport Boulevard (3102) 3102 Airport Boulevard Mobile 1 2,150 $14.00 2,150 Marl Cummings Iv 251-476-6000 36606 Executive Park (801) 801 Executive Park Mobile 2 Free $12.00 3,000 Marl Cummings, Iii 251-476-6000 36606 Dauphin Street (2513) 2513 Dauphin Street Mobile 2 Free 5,600 $12.00 5,600 Marl Cummings, Iii 251-476-6000 36606 Dauphin Street (3050) 3050 Dauphin Street Mobile 1 32,391 $6.00 32,391 Matt Cummings 251-476-6000 2 N Florida St. Mobile 1 Free 1,400 $10.28 36606 Airport Boulevard 3156 Airport Boulevard Mobile Free 3,500 $25.00 3,500 Terry Mckinney 251-460-0910 36606 328 South Sage Ave. 328 South Sage Ave. Mobile $10.00 1,000 Tommy Gleason Jr. 251-342-1636 36607 I-65 Office/Warehouse 262 Furr Street Mobile $8.50 9,570 Don Parden 251-554-1941 36606 2507 Commercial Park Drive Dauphin and Florida Street Yr Blt Yr # Parking Reno Floors Location 36606 Property Name Price S.F. 2,040 1978 Free 1 1985 Free 80,000 $17.50 23,000 Brian Metcalfe 251-432-2600 4,800 $12.00 1,200 David Dexter 251-471-1000 117,565 $14.00 11,531 Jason Scott 251-342-7229 6,824 Jeremy B. Milling, Ccim 251-4711000 7,300 John Delchamps 251-476-0808 6,824 $10.00 John Vallas 251-344-1444 Ample 1970 1989 2005 2 Free 2,300 9,570 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Pratt Thomas 251-476-0808 Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code Property Name Location City Yr Blt Yr # Parking Reno Floors Total S.F. Price S.F. Avail S.F. Agent / Phone 1990 2005 9,570 $8.50 9,570 Don Parden 251-554-1941 $10.00 3,100 Tammy Adcock 251-438-4312 8,946 David Cooper 251-639-4007 750 Gavin Bender 1,475 Richard Mann 251-300-3396 36607 I-65 Service Road at Spring Hill Ave. 262 Furr St Mobile 36607 Spacious Springhill Avenue Office 3213 Springhill Avenue Mobile 36608 660 Zeigler Circle E 660 Zeigler Circle E Mobile 36608 Professional Office 4634 Bit and Spur Rd Mobile 36608 3475 Springhill Avenue 3475 Springhill Avenue Mobile 36608 Yester Oaks Shopping Center Airport Blvd at I-65 Mobile 36609 Professional Office Building 4300 Downtowner Loop Mobile 36609 4087 Cottage Hill Office Space 4087 Cottage Hill Rd. Mobile 36609 4377 Downtowner Loop S 4377 Downtowner Loop S Mobile 36609 5920 Grelot Rd 5920 Grelot Rd Mobile 36609 709 Azalea Road 709 Azalea Road Mobile 36609 1212 Montlimar Dr 1212 Montlimar Drive AB,D 1987 2 Free 1 Ample 1 1973 8,946 2 Free 1 Free 4,263 1 $10.00 $12.00 1 1,400 $10.71 5,000 Allan R. Cameron, Jr. 251-438-4312 Angela Mcarthur 251-639-4007 Ample 3,600 $12.00 1 Free 1,250 $12.00 1999 2 Ample 4,740 $12.50 4,740 David Cooper 251-639-4007 Mobile 2009 1 Free 3,795 $13.00 2,530 David Cooper 251-639-4007 Suite E Mobile 1980 1 Free 20,000 $10.00 4,800 David Stein 251-342-1968 36609 500 Boulevard Park East 500 Boulevard Park East Mobile Free $12.00 7,769 Gavin Bender 36609 664 University Blvd. 664 University Blvd. Mobile Free $58.00 11,985 Gavin Bender 4373 Downtowner Loop S Mobile 1 Free 3,600 $12.00 1,800 Gavin Bender 36609 Executive Center 917 Western America Circle Mobile 5 Free 50,000 $15.00 11,600 Gavin Bender 36609 Executive Center 900 Western America Circle Mobile $15.00 7,350 Gavin Bender 36609 4318 Downtowner Loop North Downtowner Loop S office 2005 Free 3,600 Angela Mcarthur 251-639-4007 1 36609 2001 Terry Mckinney 251-460-0910 $1.17 Angela Mcarthur 251-639-4007 Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code Property Name 36609 Hutson Dr Location City Yr Blt 1126 Hutson Dr Mobile 1141 Montlimar Drive Mobile 36609 I-65 Service Rd 1558 I-65 Service Rd W Mobile 36609 Bel Air Park 2970 Cottage Hill Road Mobile 1977 36609 Regions Bank Tower 851 East I-65 Svc. Rd. South Mobile 1970 36609 University Place 820 University Boulevard Mobile 1985 36609 PARAMOUNT OFFICE CENTER 36609 Omni Park Office Complex 6170 Omni Park Drive Mobile 36609 Hillcrest Office Park 6414 Hillcrest Park Court Mobile 36609 Midmost Office Building 4324 Midmost Drive 36609 Montlimar Building Yr # Parking Reno Floors 1 Total S.F. Avail S.F. Agent / Phone 5,000 Gavin Bender $16.00 8,850 Gavin Bender 21,800 $10.00 21,800 Gavin Bender 127,766 $13.50 11,145 Jason Scott 251-342-7229 Free 99,616 $14.00 12,466 Jason Scott 251-342-7229 Free 55,944 $14.00 3,869 Jason Scott 251-342-7229 Free 4,400 4,400 Joe Steen 251-607-7880 Free 5,000 Free 2 2004 10 1 Free Price S.F. 1 7,700 $10.00 4,620 John Delchamps 251-476-0808 Mobile 2 12,000 $9.00 10,000 John Delchamps 251-476-0808 1218 Montlimar Drive Mobile 1 $13.25 3,000 John Delchamps 251-476-0808 36609 Montlimar Place 1110 Montlimar Drive Mobile $17.00 22,993 John Toomey 251-342-7229 36609 733 West Lakeside Drive 733 West Lakeside Drive Mobile $6.38 3,200 800 Downtowner Blvd. Loop West Mobile 36609 Montlimar Square 1015 Montlimar B,C and D Mobile 36609 Omni Park Drive 6159 Omni Park Drive Mobile 36610 1310 Telegraph Road 1310 Telegraph Road Mobile 2201 Paper Mill Road Mobile 4057 Moffet Rd Ste E Mobile 36609 36610 800 Downtowner Blvd. Loop West Property on Paper Mill Road 36618 4057 Moffett Rd 2004 1986 174,321 Ample 1989 2002 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 1 Free 3,055 $9.99 3,055 2 Free 11,100 $10.00 2,550 Tommy Gleason Jr. 251-342-1636 $13.50 4,400 Tommy Gleason Jr. 251-342-1636 $2.75 60,000 Mike Mcaleer 251-473-7517 $12.00 7,276 Pete Riehm 251-438-4312 1,200 Angela Mcarthur 251-639-4007 1 Free 60,000 Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code Property Name Location City Yr Blt Yr # Parking Reno Floors Total S.F. Price S.F. Avail S.F. Agent / Phone 36618 1351 University Blvd N. 1351 N. University Blvd Mobile 2010 1 Free 11,700 $10.00 11,700 David Cooper 251-639-4007 36618 1395 University Blvd N 1395 University Blvd North Mobile 2006 1 Ample 1,836 $10.67 1,836 David Cooper 251-639-4007 36618 Moffett Road (3828) 3828 Moffett Road Mobile 1 4,060 $12.00 4,060 Matt Cummings 251-476-6000 36619 Rangeline Road Office 4690 Rangeline Road Mobile 1 Free 7,500 $7.00 7,500 John Vallas 251-344-1444 36619 Patmos Plaza 5238 Highway 90 Mobile 1 Free $12.00 1,500 John Vallas 251-344-1444 36619 Southern Way (1) 1 Southern Way Mobile 1 Free $13.50 25,636 Marl Cummings Iv 251-476-6000 36619 Oaks Tillmans Corner 5650 Old Pascagoula Road theodore 2006 1 Free $11.00 4,300 Ralph Neal, Iii 251-602-1403 775 N. University Blvd Mobile 2007 2 Free $18.00 25,000 Jason Scott 251-342-7229 3747 Government Boulevard Mobile $10.00 8,000 Adam Metcalfe 251-432-2600 3950 Demetropolis Rd. Mobile 7,000 James Henderson 251-442-2194 36693 OFFICE 4380 HALLS MILL ROAD MOBILE 36693 901 Butler Drive 901 Butler Drive Mobile 36693 O'Neill Building 1540 West I-65 Service Road South Mobile 1 770 $10.00 770 36693 Lakeside Drive W 121-A Lakeside Drive W Mobile 1 1,200 $8.50 1,200 36693 3700 Demotropolis Rd 3700 Demotropolis Rd Mobile 36693 3709 Lakesdie Dr S 3709 Lakeside Dr S, Suite C Mobile 36693 4080 Government Blvd. 4080 Government Blvd Mobile 36695 851 E. I-65 Service Rd. S. 851 E. Interstate 65 Service Rd. S. Mobile 36688 USA Research & Technology Park 36693 3747 Government Blvd. 36693 Mobile Warehouse Location 27,000 2007 1 7,000 2 4,000 Jerry Stewart 251-666-2705 Free 1,050 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Matthew Garrard 251-476-6000 Todd Drummond 251-694-1180 12,000 Todd Drummond 251-694-1180 1962 1 Free 8,000 $13.50 3,150 Tony Cooper, Ccim 251-6394007 1,260 Adam Metcalfe 251-432-2600 Mobile Office Properties Advertised For Lease Summer 2011 Total Market of Office Properties Advertised For Lease Table 3. Zip Code 36695 Property Name Location Former Terminix Building 7860 Cottage Hill Road (CHR) City Yr Blt Mobile 2001 Yr # Parking Reno Floors 1 Ample Total S.F. Price S.F. Avail S.F. Agent / Phone 4,932 $10.45 4,932 Allan R. Cameron, Jr. 251-438-4312 Angela Mcarthur 251-639-4007 36695 5920 Grelot Rd 5920 Grelot Rd Mobile $12.00 36695 6420 Hillcrest Park Ct. 6420 Hillcrest Park Ct. Mobile 1999 1 3,250 $12.00 3,250 Angela Mcarthur 251-639-4007 36695 6425 Hillcrest Rd. Ste. A 6425 Hillcrest Rd. Ste. A Mobile 2002 1 3,696 $6.13 3,307 Angela Mcarthur 251-639-4007 36695 2344 Schillinger Rd. S 2344 Schillinger Rd. S Mobile 2008 1 Ample 16,697 $16.30 16,697 Angela Mcarthur 251-639-4007 36695 7695 Cottage Hill 7695 Cottage Hill Rd. Ste C Mobile 1 Free 4,000 1,200 Angela Mcarthur 251-639-4007 36695 1210 Hillcrest Rd 1210 Hillcrest Rd Mobile 2 15,000 Bob Cooper 251-639-4007 36695 Summit Court 7735 Summit Court Mobile 1 1,250 John Delchamps 251-476-0808 36695 Hillcrest Square 1000 Hillcrest Road Mobile 36695 1105 Hillcrest Road 1105 Hillcrest Road Mobile 2 36695 Hillcrest Road (881) 881 Hillcrest Road Mobile 1 36695 Highland Park 2350 Schillinger Rd S Mobile $13.00 29,070 $10.00 10,210 John Toomey 251-342-7229 Free 7,500 $10.00 2,500 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Free 1,680 Marl Cummings Iv 251-476-6000 6,300 Pratt Thomas 251-476-0808 Mobile Office Properties Advertised For Sale Summer 2011 Advertised Sale Price and Square Foot Zip Code Table 4. Zip Code Advertised Sales Price 36505 36560 36560 36571 36571 36572 36582 36602 36602 36602 36602 36602 36602 36602 36602 36602 36603 36603 36604 36604 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 $139,000 $79,000 $149,000 $399,000 $299,000 $285,000 $449,900 $1,000,000 $350,000 $1,500,000 $995,000 $500,000 $975,000 $600,000 Call For Pricing $330,000 $460,000 $389,000 $399,000 $995,000 $225,000 $195,000 $575,000 $125,000 $125,000 $495,000 $160,000 $660,000 $775,000 $47,892 $550,000 Advertised S.F. 1,284 908 1,760 3,760 3,600 8,750 3,500 40,000 28,000 25,000 20,000 2,820 1,500 2,018 4,311 75,000 1,600 1,300 10,300 1,628 9,060 2,000 5,600 1,400 Mobile Office Properties Advertised For Sale Summer 2011 Advertised Sale Price and Square Foot Zip Code Table 4. Zip Code Advertised Sales Price 36606 36606 36607 36607 36607 36608 36608 36608 36608 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36610 36612 36618 36618 36619 36619 36619 36693 36693 36693 36693 36693 $224,000 $439,000 $975,000 $739,000 $1,500,000 $1,850,000 $425,000 $1,749,000 $345,000 $250,000 $930,000 $750,000 $700,000 $1,200,000 $695,000 $490,000 $549,000 $395,000 $110,000 Call For Pricing $250,000 $399,000 $199,000 $95,000 $490,000 $2,650,000 $1,650,000 $250,000 $199,000 $254,000 $685,000 Advertised S.F. 2,427 4,000 9,570 15,000 8,946 7,798 6,500 21,800 4,400 12,000 8,750 6,000 60,000 2,938 4,060 2,500 984 7,500 28,800 5,200 7,000 4,000 13,358 Mobile Office Properties Advertised For Sale Summer 2011 Advertised Sale Price and Square Foot Zip Code Table 4. Zip Code 36693 36695 36695 36695 36695 Median Properties Reporting Advertised Sales Price Advertised S.F. $289,000 $830,000 $400,000 $750,000 $195,000 $439,000 16,697 4,657 7,500 3,600 5,200 65 51 Mobile Office Properties Advertised For Sale Summer 2011 Table 5. Advertised Sales Price per Square Foot by Zip Code Zip Code Advertised Sales Price 36505 36560 36560 36571 36571 36572 36582 36602 36602 36602 36602 36602 36602 36602 36602 36602 36603 36603 36604 36604 36606 36606 36606 36606 36606 36606 36606 36606 36606 36606 $139,000 $79,000 $149,000 $399,000 $299,000 $285,000 $449,900 $1,000,000 $350,000 $1,500,000 $995,000 $500,000 $975,000 $600,000 Call For Pricing $330,000 $460,000 $389,000 $399,000 $995,000 $225,000 $195,000 $575,000 $125,000 $125,000 $495,000 $160,000 $660,000 $775,000 $47,892 Building S.F. Site S.F. Acreage Calculated Calculated Sales Price per Site Sales Price per S.F. Bldg S.F. 0.33 908 1,760 2 3,760 900 8,750 37,000 1,750 0 1 1.9 0 $87.00 $84.66 $747,500.00 $558,823.53 $79.52 $316.67 $51.42 $27.03 $200.00 0.25 2.43 2 10,000 19,100 25,000 20,000 2,820 1,500 2,018 4,311 $39,898.99 $789,473.68 $50.00 $51.05 $24.00 0.59 0.3 0.5 1 0 0 2 1.27 $460,000.00 $1,556,000.00 $117.02 $306.67 $192.77 $92.55 $409,465.02 0.51 1.1 $78.77 7,300 0 2,300 9,060 3,000 5,600 1 $500,000.00 23.1 0.55 1.8 $990,000.00 $54.35 $54.64 $220.00 $138.39 Mobile Office Properties Advertised For Sale Summer 2011 Table 5. Advertised Sales Price per Square Foot by Zip Code Zip Code Advertised Sales Price 36606 36606 36606 36607 36607 36607 36608 36608 36608 36608 36609 36609 36609 36609 36609 36609 36609 36609 36609 36609 36610 36612 36618 36618 36619 36619 36619 36693 36693 36693 $550,000 $224,000 $439,000 $975,000 $739,000 $1,500,000 $1,850,000 $425,000 $1,749,000 $345,000 $250,000 $930,000 $750,000 $700,000 $1,200,000 $695,000 $490,000 $549,000 $395,000 $110,000 Call For Pricing $250,000 $399,000 $199,000 $95,000 $490,000 $2,650,000 $1,650,000 $250,000 $199,000 Calculated Calculated Sales Price per Site Sales Price per S.F. Bldg S.F. Building S.F. Site S.F. 9,570 1 $1,136,923.08 $77.22 8,946 7,798 2,000 6,500 11,874 7,769 11,985 21,800 4,400 10,000 8,750 6,000 1 $334,645.67 0 2 $1,666,666.67 $443,037.97 1 1 1 $490,000.00 $499,090.91 $359,090.91 $47.51 $224.29 $172.50 $38.46 $78.32 $96.54 $58.41 $55.05 $157.95 $49.00 $62.74 $65.83 5 1 $308,641.98 60,000 2,938 4,060 984 7,500 25,636 28,800 7,000 23 2 1 Acreage $114,718.61 $916,666.67 $378,787.88 $85.09 $98.28 $96.54 $65.33 $103.37 $57.29 $28.43 Mobile Office Properties Advertised For Sale Summer 2011 Table 5. Advertised Sales Price per Square Foot by Zip Code Zip Code Advertised Sales Price 36693 36693 36693 36695 36695 36695 36695 Median $254,000 $685,000 $289,000 $830,000 $400,000 $750,000 $195,000 $439,000 Properties Reporting 16 Median Sales per Site S.F. Median Sales per Bldg S.F. Building S.F. Site S.F. Acreage Calculated Calculated Sales Price per Site Sales Price per S.F. Bldg S.F. 0 16,697 1 3 5 $685,000.00 $96,333.33 $178,111.59 $49.71 7,500 3,600 $7,300 0 0 $1 $1 $3,000,000.00 $419,354.84 $490,000 $100.00 $54.17 $79 45 27 14 25 42 $558,823.53 $84.66 Mobile Office Properties Advertised For Sale Summer 2011 Table 6. Total Market of Office Properties Advertised for Sale Zip Property Name Address City Sale Price Total S.F. Axis 139,000 1,284 Total S.F. Agent / Phone Available James Henderson 251-442-2194 36505 11416 Old US Highway 43 11416 Old US Hwy 43 36560 Sims St 22044 Sims St Mt Vernon $79,000 908 908 James Henderson 251-442-2194 36560 1240 Mildred St 1240 Mildred St Mt Vernon $149,000 1,760 1,760 James Henderson 251-442-2197 36571 14 Highway 43 14 Hwy 43 Saraland $399,000 36571 360 & 370 Highway 43 360 & 370 Highway 43 Saraland $299,000 3,760 3,760 36572 5717 Hwy. 43 5717 Hwy. 43 Satsuma $285,000 3,600 900 36582 THEODORE DAWES 7250 & 7260 Theodore Dawes Road Theodore $449,900 8,750 8,750 Tammy Adcock 251-438-4312 36602 Entire City Block For Sale 853 Dauphin Street Mobile $1,000,000 37,000 Allan R. Cameron, Jr. 251-438-4312 36602 Historic Downtown Office Building 261 N. Joachim STreet Mobile $350,000 3,500 1,750 Allan R. Cameron, Jr. 251-438-4313 36602 305 Delchamps Dr. 305 Delchamps Drive Mobile $1,500,000 40,000 Brian Metcalfe 251-432-2600 36602 Staples Pake Building (100 N Royal St) 100 N Royal St Mobile $995,000 28,000 Burton Clark 251-476-6000 36602 Dauphin Street (115) (Kress 115 Dauphin Street Bldg.) Mobile $500,000 10,000 Burton Clark 251-476-6001 36602 Royal Street South (18) (Kress Bldg.) 18 Royal Street South Mobile $975,000 19,100 Burton Clark 251-476-6002 36602 653 St Louis 653 St Louis St Mobile $600,000 25,000 25,000 Gavin Bender 36602 Downtown Mobile Office for Sale or Lease 54-56 St. Emanuel Street Mobile Call For Pricing 20,000 20,000 John D. Peebles 251-438-4312 36602 Church Street Office Building 601 Church St Mobile $330,000 2,820 2,820 Pratt Thomas 251-476-0808 36603 354 St. Emanuel Street 354 St. Emanuel Street Mobile $460,000 1,500 1,500 David Dexter 251-471-1000 36603 Robinson Memorial Building 257 State Street Mobile $389,000 2,018 2,018 Paula Knodel 251-928-2109 36604 Historical Office Building 1706 Dauphin St. Mobile $399,000 4,311 4,311 Chip Brown 251-626-1970 36604 951 Government Street 951 Government Street Mobile $995,000 75,000 John Vallas 251-344-1446 36606 2718 Dauphin Street 2718 Dauphin Street Mobile $225,000 1,600 Brian Metcalfe 251-432-2601 36606 2756 Dauphin Street 2756 Dauphin Street Mobile $195,000 1,300 Brian Metcalfe 251-432-2602 James Henderson 251-442-2194 Joseph G. (Joey) Betbeze, Jr. 251-476-4115 Holly Shirley 251-300-3397 Mobile Office Properties Advertised For Sale Summer 2011 Table 6. Total Market of Office Properties Advertised for Sale Zip Property Name Address City Sale Price Total S.F. Total S.F. Agent / Phone Available 7,300 John Delchamps 251-476-0808 36606 Medical Office Building 1563 Springhill Ave. Mobile $575,000 10,300 36606 2208 Government Street 2208 Government Street Mobile $125,000 1,628 36606 2507 Commercial Park Drive 2507 Commercial Park Drive Mobile $125,000 36606 63 Midtown Park East 63 Midtown Park East Mobile $495,000 9,060 36606 Pleasant Valey Road (2700) 2700 Pleasant Valley Road Mobile $160,000 2,000 36606 Executive Park (801) 801 Executive Park Mobile $660,000 36606 Dauphin Street (2513) 2513 Dauphin Street Mobile $775,000 36606 Azalea Road - Lot 5 563 Azalea Road - Lot 5 Mobile $47,892 36606 Dauphin and Florida Street 2 N Florida St. Mobile $550,000 1,400 Pratt Thomas 251-476-0809 36606 Cottage Hill Road office 3154 Cottage Hill Road Mobile $224,000 2,427 Sharon Wright 251-471-1000 36606 3116 Airport Blvd 3116 Airport Blvd Mobile $439,000 4,000 Todd Drummond 251-694-1180 36607 Interstate-65 Service Road 212 Interstate-65 Service Road North Mobile $975,000 36607 I-65 Office/Warehouse 262 Furr Street Mobile $739,000 9,570 36607 15000 SF Bldg on Broad Street, Mobile 1514 S Broad Street Mobile $1,500,000 15,000 36608 Airport Boulevard (6576) 6576 Airport Boulevard Mobile $1,850,000 36608 660 Zeigler Circle E 660 Zeigler Circle E Mobile $425,000 8,946 8,946 David Cooper 251-639-4007 36608 Airport Blvd 3871 Airport Blvd Mobile $1,749,000 7,798 7,798 James Henderson 251-442-2198 36608 Airport Blvd (7125) 7125 Airport Blvd. Mobile $345,000 2,000 Matthew Garrard 251-476-6000 36609 442 Azalea Rd 442 Azalea Rd Mobile $250,000 6,500 Angela Mcarthur 251-639-4007 36609 664 University Blvd. 664 University Blvd. Mobile $930,000 11,874 David Cooper 251-639-4008 36609 500 Boulevard Park East 500 Boulevard Park East Mobile $750,000 7,769 Gavin Bender John Vallas 251-344-1444 9,060 Joseph G. (Joey) Betbeze, Jr. 251-476-4112 Joseph G. (Joey) Betbeze, Jr. 251-476-4113 Marl Cummings Iv 251-476-6001 3,000 Marl Cummings, Iii 251-476-6000 5,600 Marl Cummings, Iii 251-476-6001 2,300 5,600 Marl Cummings, Iii 251-476-6002 Adam Metcalfe 251-432-2600 9,570 Don Parden 251-554-1941 Joe Steen 251-607-7880 Burton Clark 251-476-6003 6,500 Mobile Office Properties Advertised For Sale Summer 2011 Table 6. Total Market of Office Properties Advertised for Sale Zip Property Name Address City Sale Price 36609 664 University Blvd. 664 University Blvd. Mobile $700,000 36609 I-65 Service Rd 1558 I-65 Service Rd W Mobile $1,200,000 36609 Omni Park Office Complex 6170 Omni Park Drive Mobile 36609 Midmost Office Building 4324 Midmost Drive 36609 901 Lakeside Drive 36609 Total S.F. Total S.F. Agent / Phone Available 11,985 Gavin Bender 21,800 21,800 Gavin Bender $695,000 4,400 4,400 Joe Steen 251-607-7881 Mobile $490,000 12,000 10,000 John Delchamps 251-476-0809 901 Lakeside Drive Mobile $549,000 8,750 8,750 1224 Hutson Drive 1224 Hutson Drive Mobile $395,000 6,000 6,000 36609 University Blvd. Service Road Zack Logan Ave. N. Mobile $110,000 Joseph G. (Joey) Betbeze, Jr. 251-476-4111 Joseph G. (Joey) Betbeze, Jr. 251-476-4114 Sharon Wright 251-471-1001 36610 1310 Telegraph Road 1310 Telegraph Road Mobile Call For Pricing 60,000 60,000 Mike Mcaleer 251-473-7517 36612 Professional Office 4320 St. Stephens Road Mobile $250,000 2,938 2,938 John D. Peebles 251-438-4313 36618 Moffett Road (3828) 3828 Moffett Road Mobile $399,000 4,060 4,060 Matt Cummings 251-476-6000 36618 3750 Moffett Rd 3750 Moffett Rd Mobile $199,000 2,500 36619 5619 Andrews Rd 5619 Andrews Rd Mobile $95,000 984 984 James Henderson 251-442-2195 36619 Rangeline Road Office 4690 Rangeline Road Mobile $490,000 7,500 7,500 John Vallas 251-344-1445 36619 Southern Way (1) 1 Southern Way Mobile $2,650,000 25,636 Marl Cummings Iv 251-476-6000 36693 3761 Government St. 3761 Government St. Mobile $1,650,000 28,800 28,800 Cameron Weavil 251-438-6000 36693 Lakeside Drive Office/Warehouse 735 Lakeside Drive Mobile $250,000 5,200 36693 Mobile Warehouse Location 3950 Demetropolis Rd. Mobile $199,000 7,000 36693 OFFICE 4380 HALLS MILL ROAD MOBILE $254,000 4,000 Jerry Stewart 251-666-2705 36693 Industrial Park Drive 1701 Industrial Park Drive Mobile $685,000 13,358 Shannon Barnes 251-432-1287 36693 Halls Mill Road 4801 Halls Mill Road Mobile $289,000 36695 2344 Schillinger Rd. S 2344 Schillinger Rd. S Mobile $830,000 16,697 Todd Drummond 251-694-1181 Dane Haygood 251-626-7200 7,000 James Henderson 251-442-2196 0 Terry Mckinney 251-460-0910 16,697 Angela Mcarthur 251-639-4008 Mobile Office Properties Advertised For Sale Summer 2011 Table 6. Total Market of Office Properties Advertised for Sale Zip Property Name Address City Sale Price Total S.F. Total S.F. Agent / Phone Available Angela Mcarthur 251-639-4009 36695 6425 Hillcrest Park Court 6425 Hillcrest Park Court Mobile $400,000 4,657 36695 1105 Hillcrest Road 1105 Hillcrest Road Mobile $750,000 7,500 7,500 36695 Schilliinger Road Retail 1550 Schillinger Road North Mobile $195,000 3,600 3,600 Joseph G. (Joey) Betbeze, Jr. 251-476-4116 Pete Riehm 251-438-4312