Commercial Report
Mobile Market Watch
University of South Alabama
Mitchell College of Business
Center for Real Estate Studies
Mobile
Office Properties
for Lease and For Sale
Summer 2009
“Data you can use.”
“Education you can use”
This report and others are found on the Center website at:
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.
Office Properties
Page - 1
Summer 2009
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 2009 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
Office Properties
Page - 2
Summer 2009
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 -8
Table 2: Calculated Vacancy Rate by Zip Code
Pages 9 - 11
Table 3: Total Market of Office Properties Advertised for Lease
Pages 12 - 17
Table 4: Advertised Sales Price and Square Foot by Zip Code
Pages 18 - 19
Table 5: Sales Price per Square Foot by Zip Code
Pages 20 - 21
Table 6: Total Market of Office Properties Advertised for Sale
Pages 22 - 25
Office Properties
Page - 3
Summer 2009
Report Summary
2009 Advertised Office Properties for Lease:
Total Properties Listed ……………………………………82
Asking Lease Rate per S.F. ……………………………. Median $12.50 on 60 Properties Reporting
Total Advertised S.F. ………………………………………Median 7716 on 63 Properties Reporting
Total Advertised S.F. ………………………………………1,974,616 on 63 Properties Reporting
Total Available S.F. …………………………………………661,081 on 71 Properties Reporting
Available S.F. …………………………………………….. Median 6225 on 71 Properties Reporting
2009 Advertised Office Properties for Sale:
Total Properties Listed ……………………………………49
Sales Price …………………………………………………. Median $550,000 on 47 Properties Reporting
Building S.F. ……………………………………………………Median 6750 on 45 Properties Reporting
Sales Price per Building S.F. ……………………………Median $75.00 on 43 Properties Reporting
Site S.F. ………………………………………………………… Median 39,421.8 on 20 Properties Reporting
Sales Price per Site S.F. ……………………………………Median $11.40 on 21 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. Owneroccupied property is also excluded.
Office Properties
Page - 4
Summer 2009
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
Office Properties
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
Page - 5
Summer 2009
Commercial Report
Mobile Office Properties
Advertised For Lease
Summer 2009
Asking Lease Rate per S.F. by Zipcode
Table 1.
Office Properties
Zipcode
Asking Lease S.F.
Total Advertised
S.F.
36509
36541
36582
36582
36582
36582
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36603
$9.00
$0.00
$8.40
6,000
2,500
6,300
$4.50
12,000
4,500
8,360
$5.00
$18.00
$8.00
$16.00
$10.50
$14.00
$14.00
$16.00
$14.00
$16.50
$21.00
$12.00
$3.50
284,000
282,745
13,200
12,132
14,500
9,000
75,000
8,360
7,716
20,000
3,000
40,000
1,400
Page - 6
Summer 2009
Mobile Office Properties
Asking Lease Rate per S.F. by Zipcode
Table 1.
Zipcode
36604
36604
36605
36606
36606
36606
36606
36606
36606
36606
36606
36606
36606
36606
36607
36607
36607
36607
36608
36608
36608
36609
36609
36609
36609
36609
36609
36609
36609
36609
36609
Office Properties
Asking Lease S.F.
$3.00
$14.00
$16.50
$14.00
$13.71
$13.15
$10.00
$10.75
$8.50
$12.00
$6.00
$13.00
$8.46
$12.00
$17.00
$17.00
$13.50
$13.13
$13.00
$14.50
$12.00
$13.00
$10.50
Page - 7
Total Advertised
S.F.
1,500
4,000
200,000
2,040
55,276
117,565
80,000
9,000
6,225
1,400
1,500
1,929
10,300
1,628
9,570
9,570
8,800
4,263
1,500
2,650
3,800
2,860
45,700
21,000
Summer 2009
Mobile Office Properties
Asking Lease Rate per S.F. by Zipcode
Table 1.
Office Properties
Total Advertised
S.F.
Zipcode
Asking Lease S.F.
36609
36609
36609
36609
36609
36609
36617
36617
36617
36618
36618
36688
36693
36693
36693
36693
36693
36693
36695
36695
36695
36695
36695
$13.50
$17.00
$14.00
$14.00
$10.00
$11.00
127,766
174,321
55,944
99,616
7,700
$5.50
8,360
14,950
1,200
4,060
$13.00
$13.50
$10.00
$12.00
$13.00
900
8,750
1,125
4,800
770
5,000
3,795
3,800
29,070
7,500
2,400
Median
Properties
Reporting
$12.50
7,716
60
63
$13.91
$12.00
$18.00
$10.00
$8.50
$10.00
$8.88
$10.00
Page - 8
Summer 2009
Commercial Report
Mobile Office Properties
Advertised For Lease
Summer 2009
Calculated Vacancy Rate by Zipcode
Zipcode
Table 2.
36509
36541
36582
36582
36582
36582
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36603
Office Properties
Total
Advertised
Advertised S.F. Available S.F.
6,000
2,500
6,300
12,000
4,500
8,360
284,000
282,745
13,200
12,132
14,500
9,000
2,500
6,300
1,000
12,000
4,500
8,360
7,200
50,000
60,000
3,690
62,632
35,469
3,300
12,132
1,000
Calculated
Vacancy Rate
(%)
100%
100%
100%
100%
100%
21%
13%
25%
100%
7%
18,000
75,000
8,360
7,716
20,000
3,000
40,000
1,400
3,072
4%
7,716
20,000
3,000
100%
100%
100%
9,371
1,400
9,800
100%
Page - 9
Summer 2009
Mobile Office Properties
Advertised For Lease
Calculated Vacancy Rate by Zipcode
Zipcode
Table 2.
36604
36604
36605
36606
36606
36606
36606
36606
36606
36606
36606
36606
36606
36606
36607
36607
36607
36607
36608
36608
36608
36609
36609
36609
36609
36609
36609
36609
36609
36609
36609
Office Properties
Total
Advertised
Advertised S.F. Available S.F.
1,500
4,000
200,000
2,040
55,276
117,565
80,000
9,000
6,225
1,400
1,500
1,929
10,300
1,628
9,570
9,570
8,800
4,263
1,500
2,650
3,800
2,860
45,700
21,000
Calculated
Vacancy Rate
(%)
4,000
100%
2,040
2,526
11,531
20,000
100%
5%
10%
25%
6,225
100%
1,929
7,300
100%
71%
2,000
9,570
1,907
9,570
8,800
1,125
1,500
5,000
10,000
7,000
9,000
2,650
3,800
18,000
2,250
7,228
1,500
Page - 10
100%
100%
100%
26%
100%
100%
100%
79%
16%
7%
Summer 2009
Mobile Office Properties
Advertised For Lease
Calculated Vacancy Rate by Zipcode
Zipcode
Table 2.
36609
36609
36609
36609
36609
36609
36617
36617
36617
36618
36618
36688
36693
36693
36693
36693
36693
36693
36695
36695
36695
36695
36695
Office Properties
Total
Advertised
Advertised S.F. Available S.F.
127766
174321
55944
99616
7700
11145
22993
3869
12466
4620
1070
11000
8360
14950
1200
4060
25000
900
8750
1125
2700
770
5000
1500
1800
10210
7500
1200
8360
14950
1200
4060
900
8750
1125
4800
770
5000
3795
3800
29070
7500
2400
Total
1,974,616
661,081
Median
Properties
Reporting
7,716
6,225
63
71
Page - 11
Calculated
Vacancy Rate
(%)
9%
13%
7%
13%
60%
100%
100%
100%
100%
100%
100%
100%
56%
100%
100%
40%
47%
35%
100%
50%
Summer 2009
Commercial Report
Mobile Office Properties
Advertised For Lease
Summer 2009
Table 3.
Zip
Code
36509
Property Name
Office Building for
Lease
Total Market of Office Properties Advertised For Lease
Location
624 Western America
Drive
City
Yr
Blt
Yr
# Floors Parking
Reno
Mobile
2
Free
Total
S.F.
Price S.F.
6,000
$9.00
2,500
$0.00
2,500
6,300
$8.40
6,300
36541 Office for Sale
10264 Potter Tract Rd
Grand Bay 1978
1
36582 5784 Hwy 90 W
5784 Hwy 90W
Theodore 1997
1
36582 Highway 90
5693 Highway 90
Theodore
36582 Spanish Trail Court
6250 Spanish Trail
Court
Theodore
1
Free
12,000
5146 Kooiman Rd.
Theodore
1
Free
4,500
Office / Warehouse for
Sale
Downtown Office
36602 Complex
Historic Fort Conde
36602
Village
Government Street
36602
(304)
36582
206 & 208 Government
Street
Mobile
163 St Emanuel Street
Mobile
304 Government Street
Mobile
36602 Regions Bank Building
106 St. Francis
Mobile
36602 3 Dauphin Street
3 Dauphin Street
Mobile
Office Properties
Free
Avail
S.F.
1,000
8,360
Free
1929
3
Leased 284,000
Page - 12
$4.50
12,000
4,500
$5.00
8,360
$18.00
7,200
$8.00
50,000
$16.00
60,000
$10.50
3,690
Agent / Phone
Jeanne McKay
251-626-1970
Richard Mann
251-300-3396
David Cooper
251-639-4008
Matt Cummings
251-476-6000
Marl Cummings IV
251-476-6000
Angela McArthur
251-639-4007
Brian Metcalfe
251-432-2600
Pete Riehm
251-438-4311
Marl Cummings IV
251-476-6000
Josh Hall
251-342-7229
Ralph Neal III
251-602-1403
Summer 2009
Total Market of Office Properties Advertised For Lease
Table 3.
Zip
Code
36602
Property Name
Wachovia Bank
Building
Location
61 St. Joseph Street
36602 AmSouth Bank Building 107 St. Francis Building
City
Yr
Blt
Yr
# Floors Parking
Reno
1965
Two South Water
Street, 4th Floor
Mobile
1854 1979
36602 Fort Conde Village
200, 206 S Royal Street
Mobile
36602 The Bayport Building
5 Dauphin Street
Mobile
Two South Water
Street
36602 Title Insurance Building 164 St. Francis Street
1904 1985
4
Mobile
36602 St. Joseph Street
59 St. Joseph Street
Mobile
2
36602 One St. Louis
One St. Louis St.
Mobile
3
36602 3 Dauphin Street
36602
3 Dauphin Street
Downtown Mobile
54-56 St. Emanuel
Office for Sale or Lease Street
35,469
Free
13,200
$16.00
3,300
Free
12,132
$14.00
12,132
14,500
$16.50
1,000
9,000
$21.00
18,000
75,000
3,072
8,360
Not
Avail
7,716
Mobile
2
Leased
20,000
20,000
2
3,000
3,000
36602 305 Delchamps Dr.
305 Delchamps Drive
Mobile
401 Chruch Street
Mobile
706 Govrenment Street
Mobile
Office Properties
$14.00
2
Mobile
36602 706 Government St
282,745
Mobile
601 Church Street
Church Street Office
Building
62,632
Mobile
36602 601 Church Street
36602
$14.00
Mobile
182 Saint Francis Street,
Suite 303
206 & 208 Government 206 & 208 Government
Street
Street
Avail
S.F.
3
36602 Parkview Plaza
36602
Price S.F.
Mobile
Mobile
36602
Total
S.F.
40,000
Free
1
Page - 13
Free
$12.00
7,716
$3.50
9,371
1,400
1,400
Agent / Phone
Jill Meeks
251-342-7229
Josh Hall
251-342-7229
Ralph Neal III
251-602-1403
Allan Cameron Jr.
251-438-4312
Brian Metcalfe
251-432-2600
John D. Peebles
251-438-4312
Todd Drummond
251-694-1180
John Vallas
251-662-3774
Adam Metcalfe
251-432-2611
Brian Metcalfe
251-432-2613
Ralph Neal III
251-602-1403
John D. Peebles
251-438-4312
Adam Metcalfe
251-432-2626
Brian Metcalfe
251-432-2627
C.David Tisher
251-438-4312
Joe Steen
251-478-8840
Summer 2009
Total Market of Office Properties Advertised For Lease
Table 3.
Zip
Code
Property Name
Location
City
Yr
Blt
Yr
# Floors Parking
Reno
Total
S.F.
36603 Office / Warehouse
805 Church Street
Mobile
36604 1775 Old Shell Road
1775 Old Shell Road
Mobile
1
Free
1,500
Mobile
1
Free
4,000
Mobile
1
36604 Springhill Avenue (969) 969 Springhill Avenue
36605
Dauphin Island
Parkway & I-10
36606 2300 Airport Blvd.
36606
1600 Dauphin Island
Parkway
2300-C Airport
Boulevard
CNI Center Dauphin 65
3280 Dauphin Street
Office Complex
Free
Mobile
1
3103 Airport Blvd.
Mobile
1985
36606 Xante’ Center
2800 Dauphin Street
Mobile
1978
36606 Heron Plaza
2504 Dauphin Street
Mobile
36606 HRH Sublease
3200 Executive Park Cir
Mobile
2 N Florida St.
Dauphin and Florida
Street
36606 Old Government Street
36606
Union Planters Bank
Bldg
2,040
2,040
55,276
2,526
11,531
Free
80,000
$16.50
20,000
Free
9,000
1
Free
6,225
$14.00
6,225
Mobile
1
Free
1,400
$13.71
2150 Old Government
Street
Mobile
1
851 I-65 Service Rd S
Mobile
1
36607 Florida St N (161)
161 N Florida St
Mobile
1
262 Furr St
Mobile
Office Properties
$3.00
$14.00
Mobile
I-65 Service Road at
Spring Hill Ave.
4,000
117,565
36606 Medical Office Building 1563 Springhill Ave.
36607
Free
Avail
S.F.
9,800
200,000
Mobile
36606 Hilton Square
36606
Price S.F.
1990 2005
Page - 14
2
1,500
Free
1,929
$13.15
1,929
10,300
$10.00
7,300
$10.75
2,000
$8.50
9,570
9,570
Agent / Phone
John D. Peebles
251-438-4312
John Vallas
251-662-3775
Chad Slaton
251-476-6000
Matthew Garrard
251-476-6000
Adam Metcalfe
251-432-2600
Scott Chambliss
251-473-7517
Jason Scott
251-342-7230
Brian Metcalfe
251-432-2600
Marl Cummings IV
251-476-6000
Louise McCown
251-990-6622
Thomas Pratt
251-476-0808
John Vallas
251-662-3776
Angela McArthur
251-639-4007
John Delchamps
251-476-0808
Marl Cummings IV
251-476-6000
Don Parden
251-554-1941
Summer 2009
Total Market of Office Properties Advertised For Lease
Table 3.
Zip
Code
Property Name
36607 2065 Old Shell Road
Location
2065 Old Shell Road
City
Yr
Blt
Yr
# Floors Parking
Reno
Mobile
36607 I-65 Office/Warehouse 262 Furr Street
Mobile
1989 2005
36608 660 Zeigler Circle E
660 Zeigler Circle E
Mobile
1992
36608 Office Building
3475 Springhill Avenue
Mobile
1973
1
36608 Office / Warehouse
3540 Pleasant Valley Rd
Mobile
1997
1
4300 Downtowner
4300 Downtowner Loop
N.
Loop N.
Downtowner Corporate
36609
1087 Downtowner Blvd.
Center
36609
Total
S.F.
2
Free
Free
Price S.F.
Avail
S.F.
$12.00
1,907
9,570
9,570
8,800
$6.00
8,800
4,263
$13.00
1,125
1,500
$8.46
1,500
Mobile
Free
$12.00
5,000
Mobile
Free
$17.00
10,000
Mobile
Free
$17.00
7,000
36609 2970 Cottage Hill Road 2970 Cottage Hill Road
Mobile
Free
$13.50
9,000
36609 Office Space
709 Azalea Rd. B-1
Mobile
1999
1
2,650
$13.13
2,650
36609 Office
1212 Montlimar Dr.
Mobile
2008
1
3,800
$13.00
3,800
36609 Bel Air Office Park
3100 Cottage Hill Road
Mobile
$14.50
18,000
5920 Grelot Rd. Bldg E
Mobile
2,860
$12.00
2,250
1201 Montlimar Drive
Mobile
1986
Free
45,700
$13.00
7,228
4318 Downtowner loop
North
Mobile
1980 2003
Free
21,000
$10.50
1,500
2970 Cottage Hill Road
Mobile
1977
127,766
$13.50
11,145
36609 Paramount Center
36609
Office in Grelot
Professional Park
36609 Gateway Center West
36609
Downtowner North
Building
36609 Bel Air Park
Office Properties
1141 Montlimar Drive
Free
Free
1
Page - 15
1
Agent / Phone
Adam Metcalfe
251-432-2600
Don Parden
251-554-1941
David Cooper
251-639-4007
Richard Mann
251-300-3395
Angela McArthur
251-639-4007
Galvin Bender
251-445-2468
Galvin Bender
251-445-2469
Galvin Bender
251-445-2470
Galvin Bender
251-445-2471
Tony Cooper CCIM
251-639-4007
David Cooper
251-639-4007
Scotty Wells
251-471-4460
Angela McArthur
251-639-4007
Scotty Wells
251-471-4459
David Stein
251-342-1968
Jason Scott
251-342-7229
Summer 2009
Total Market of Office Properties Advertised For Lease
Table 3.
Zip
Code
Property Name
36609 Montlimar Place
36609 University Place
36609 Regions Bank Tower
36609 Hillcrest Office Park
36609 Office
Location
1110 Montlimar Drive
820 University
Boulevard
851 East I-65 Svc. Rd.
South
6414 Hillcrest Park
Court
1621 University Blvd.
Ste.B1
City
Yr
Blt
Yr
# Floors Parking
Reno
Mobile
1986
Mobile
1985
Mobile
1970 2004
10
Mobile
2004
1
Mobile
Total
S.F.
Price S.F.
Avail
S.F.
174,321
$17.00
22,993
Free
55,944
$14.00
3,869
Free
99,616
$14.00
12,466
7,700
$10.00
4,620
$11.00
1,070
$11,000
11,000
$5.50
8,360
2
36617 Warehouse Space
3400 Georgia Pacific
Mobile
36617 Office / Warehouse
1800 E. I-65 Srv. Rd. N
Mobile
36617 ABC
2447 E. Interstate 65
Service Road N.
Mobile
36618 Office
4057 Moffett Rd
Mobile
1
1,200
$13.91
1,200
36618 Moffett Road (3828)
3828 Moffett Road
Mobile
1
4,060
$12.00
4,060
775 N. University Blvd
Mobile
$18.00
25,000
36693 Office space
4084A Government
Blvd
Mobile
36693 Office / Warehouse
3510 Halls Mill Rd
Mobile
36688
USA Research &
Technology Park
4080B Government
Blvd
1540 West I-65 Service 1540 West I-65 Service
36693
Road South
Road South
36693 Office
Office Properties
1
8,360
14,950
2007
2
Free
14,950
1
900
$10.00
900
1
8,750
$8.50
8,750
Mobile
2
1,125
$10.00
1,125
Mobile
1
4,800
$8.88
2,700
2008
Page - 16
Agent / Phone
John Toomey
251-342-7230
Jason Scott
251-342-7230
Jason Scott
251-342-7231
John Delchamps
251-476-0808
Angela McArthur
251-639-4007
Allan R. Cameron Jr.
251-438-4312
Bob Cooper
251-639-4007
Adam Metcalfe
251-432-2625
Angela McArthur
251-639-4007
Matt Cummings
251-476-6000
Jason Scott
251-342-7229
Tony Cooper CCIM
251-639-4007
David Cooper
251-639-4008
Tony Cooper CCIM
251-639-4007
Joseph G. Betbeze
251-476-4111
Summer 2009
Total Market of Office Properties Advertised For Lease
Table 3.
Zip
Code
Property Name
Location
City
36693 O'Neill Building
1540 West I-65 Service
Road South
Mobile
36693 1512 Azalea Road
1512 Azalea Road
Mobile
36695 800 Hillcrest Road
800 Hillcrest Road
Mobile
36695 Office
7675 Cottage Hill Rd
Mobile
36695 Hillcrest Square
1000 Hillcrest Road
Mobile
36695 1105 Hillcrest Road
1105 Hillcrest Road
Mobile
36695 Office
5920 Grelot Rd St. B
Mobile
Office Properties
Yr
Blt
Yr
# Floors Parking
Reno
1
Total
S.F.
Price S.F.
Avail
S.F.
Agent / Phone
770
$10.00
770
Joseph G. Betbeze
251-476-4112
5,000
2
2005
2
2
1999
Page - 17
1
Free
Free
5,000
3,795
$13.00
1,500
3,800
$13.50
1,800
29,070
$10.00
10,210
7,500
$12.00
7,500
2,400
$13.00
1,200
Adam Metcalfe
251-432-2600
Marl Cummings IV
251-476-6000
Tony Cooper CCIM
251-639-4007
John Toomey
251-342-7229
Joseph G. Betbeze
251-476-4112
Angela McArthur
251-639-4007
Summer 2009
Commercial Report
Mobile Office Properties
Advertised For Lease
Summer 2009
Advertised Sale Price and Square Foot Zip Code
Table 4.
Zip Code
36541
36571
36575
36582
36582
36601
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36604
36605
36606
36606
36606
36606
Office Properties
Advertised Sales
Price
$159,900
$750,000
$1,600,000
$900,000
$195,000
$2,950,000
$1,050,000
$460,000
$750,000
$1,000,000
$750,000
$4,900,000
$182,000
$339,000
$495,000
$349,000
$369,000
$150,000
$840,000
$145,000
$475,000
$575,000
$299,900
$149,000
$225,000
$195,000
Page - 18
Available S.F.
2,500
6,075
40,500
11,940
4,500
68,800
28,000
10,000
19,100
37,000
25,000
63,628
3,822
12,500
4,600
2,486
20,000
3,000
40,000
9,371
1,400
4,000
19,664
1,875
3,000
1,600
1,300
Summer 2009
Advertised Sale Price and Square Foot Zip Code
Table 4.
Zip Code
36606
36607
36607
36607
36607
36607
36609
36609
36609
36609
36609
36609
36609
36617
36618
36618
36619
36693
36693
36693
36695
36695
Median
Properties
Reporting
Office Properties
Advertised Sales
Price
$575,000
$475,000
$139,900
$2,000,000
$975,000
$849,000
$1,250,000
$350,000
$449,000
$800,000
$450,000
$110,000
$550,000
$595,000
Available S.F.
10,300
14,000
1,276
15,600
9,570
17,225
3,800
6,250
6,000
4,526
14,950
1,200
4,060
87,120
6,666
6,750
6,750
$399,000
$699,799
$260,000
$550,000
$600,000
$1,200,000
$750,000
550,000.00
7,500
6,750.00
47
45
Page - 19
Summer 2009
Commercial Report
Mobile Office Properties
Advertised For Sale
Summer 2009
Table 5.
Advertised Sales Price per Square Foot by Zip Code
Zip Code
36541
36571
36575
36582
36582
36601
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36602
36604
36605
36606
36606
Office Properties
Advertised
Sales Price
Building
S.F.
$159,900
$750,000
$1,600,000
$900,000
$195,000
$2,950,000
$1,050,000
$460,000
$750,000
$1,000,000
$750,000
$4,900,000
$182,000
$339,000
$495,000
$349,000
2,500
6,075
40,500
11,940
4,500
68,800
28,000
10,000
19,100
37,000
25,000
63,628
3,822
12,500
4,600
2,486
20,000
3,000
40,000
9,371
1,400
4,000
19,664
1,875
3,000
$369,000
$150,000
$840,000
$145,000
$475,000
$575,000
$299,900
$149,000
Site S.F.
Acreage
2,178
0.05
Calculated
Sales Price
per Site S.F.
$73.42
191,664
130,680
32,670
14,375
4.4
3
0.75
0.33
$8.35
$6.89
$5.97
$205.22
46,174
1.06
$16.24
0
0
82,764
1.9
$1.81
182,516
8,276
13,068
4.19
0.19
0.3
$3.15
$36.24
$11.40
Page - 20
Calculated
Sales Price per
Bldg S.F.
$63.96
$123.46
$39.51
$75.38
$43.33
$42.88
$37.50
$46.00
$39.27
$27.03
$30.00
$77.01
$47.62
$27.12
$107.61
$140.39
$123.00
$3.75
$89.64
$103.57
$118.75
$29.24
$159.95
$49.67
Summer 2009
Table 5.
Advertised Sales Price per Square Foot by Zip Code
Site S.F.
Acreage
Calculated
Sales Price
per Site S.F.
Calculated
Sales Price per
Bldg S.F.
140.63
$150.00
$55.83
$33.93
$109.64
$128.21
65,340
1.5
$30.61
28,314
0.65
$29.99
21,780
47,916
30,492
47,916
0.5
1.1
0.7
1.1
$16.07
$9.37
$26.24
$9.39
22,651
101,930
60,984
0.52
2.34
1.4
$24.28
$5.84
$121.52
$39.80
$8.03
$10.40
$22.55
$98.28
$8.03
$39.00
$81.48
$88.89
Advertised
Sales Price
Building
S.F.
36606
36606
36606
36607
36607
36607
36607
36607
36609
36609
36609
36609
36609
36609
36609
36617
36618
36618
36619
36693
36693
36693
36695
36695
$225,000
$195,000
$575,000
$475,000
$139,900
$2,000,000
$975,000
$849,000
$1,250,000
$350,000
$449,000
$800,000
$450,000
$110,000
$550,000
$595,000
1,600
1,300
10,300
14,000
1,276
15,600
Median
$550,000
6,750
39,421.80
0.73
$11.40
$75.00
Properties
Reporting
47
45
22
24
21
43
Zip Code
$399,000
$699,799
$260,000
$550,000
$600,000
$1,200,000
$750,000
9,570
17,225
3,800
6,250
6,000
4,526
14,950
1,200
4,060
87,120
6,666
6,750
6,750
87,120
25,003
24,394
2
0.574
0.56
7,500
$75.00
$100.00
$75.00
Median Sales per Building S.F.
Median Sales per Site S.F.
Office Properties
$88.71
$72.57
$92.11
$71.84
$11.40
Page - 21
Summer 2009
Commercial Report
Mobile Office Properties
Advertised For Sale
Summer 2009
Table 6.
Total Market of Office Properties Advertised for Sale
City
Sale Price
Total
S.F.
Grand Bay
$159,900
2,500
2,500
Saraland
$750,000
6,075
6,075
Semmes
$1,600,000
40,500
Theodore
$900,000
11,940
Theodore
$195,000
4,500
36601 Van Antwerp Building 101 Dauphin Street
Mobile
$2,950,000
68,800
36602 Staples Pake Building 100 N Royal St
Mobile
$1,050,000
28,000
36602 Kress Building
115 Dauphin Street
Mobile
$460,000
10,000
36602 Kress Building
18 Royal Street South
Mobile
$750,000
19,100
Zip
Property Name
Address
36541 Office
10264 Potter Tract Rd
36571 Office Building
18 C M Rambo Dr.
36575 Warehouse
36582 Shaw Office
(Former Bredero)
36582 Office / Warehouse
Office Properties
2650 B Schillinger Rd
North
8106 Dauphin Island
Parkway
5146 Kooiman Rd.
Page - 22
Total S.F.
Agent / Phone
Available
4,500
Richard Mann
251-300-3396
Ben Purvis
251-675-8893
Mitchum Jackson
251-479-8606
Mitchum Jackson
251-479-8606
Angela McArthur
251-639-4007
Burton Clark
251-476-6000
Burton Clark
251-476-6000
Burton Clark
251-476-6000
Burton Clark
251-476-6001
Summer 2009
Table 6.
Zip
Total Market of Office Properties Advertised for Sale
Property Name
Total
S.F.
Total S.F.
Agent / Phone
Available
City
Sale Price
853 Dauphin Street
Mobile
$1,000,000
657 St Louis Street
Mobile
$750,000
25,000
110 Beauregard St.
Mobile
$4,900,000
63,628
36602 Condo Development 714 Dauphin St.
Mobile
$182,000
3,822
3,822
36602 Condo Development 701-707 Springhill Ave
Mobile
$339,000
12,500
12,500
Tony Cooper CCIM
251-639-4008
209 Joachim Street
Mobile
$495,000
4,600
C.David Tisher
251-438-4312
113 S Dearborn St.
Mobile
$349,000
2,486
2,486
Holly Shirley
251-300-3397
54-56 St. Emanuel
Street
Mobile
Call For Pricing
20,000
20,000
John D. Peebles
251-438-4312
36602 Church Street
601 Church Street
Mobile
$369,000
3,000
3,000
36602 Delchamps Dr.
305 Delchamps Drive
Mobile
$150,000
40,000
36602 Building
401 Chruch Street
Mobile
$840,000
36602 Building
706 Government Street
Mobile
$145,000
1,400
1,400
36604 Springhill Avenue
969 Springhill Avenue
Mobile
$475,000
4,000
4,000
Chad Slaton
251-476-6000
2333 Dauphin Island
Parkway
Mobile
$575,000
19,664
19,664
Brian Metcalfe
251-432-2600
36602 Entire City Block
36602
Redev Property
Downtown
36602 GM & O Building
De Tonti Square
District
Downtown Mobile
36602
Office
Downtown Mobile
36602
Office
36602
36605
Dauphin Island
Parkway
Office Properties
Address
Page - 23
37,000
25,000
9,371
Allan Cameron Jr.
251-438-4312
John D. Peebles
251-438-4312
Gordon MacLean
850-864-1031
Tony Cooper CCIM
251-639-4007
Adam Metcalfe
251-432-2626
Brian Metcalfe
251-432-2627
C. David Tisher
251-438-4312
Joe Steen
251-478-8840
Summer 2009
Table 6.
Zip
Total Market of Office Properties Advertised for Sale
Property Name
36606 Office
36606
Commercial Park
Drive
Address
176 Mobile Infirmary
Blvd
2479 Commercial Park
Drive
Total
S.F.
City
Sale Price
Mobile
$299,900
Mobile
$149,000
3,000
36606 Dauphin Street
2718 Dauphin Street
Mobile
$225,000
1,600
36606 Dauphin Street
2756 Dauphin Street
Mobile
$195,000
1,300
1563 Springhill Ave.
Mobile
$575,000
10,300
36607 Springhill Avenue
2773 Springhill Ave.
Mobile
$475,000
36607 Office Building
2562 Dauphin St.
Mobile
$139,900
Mobile
$2,000,000
Mobile
$975,000
Mobile
$849,000
Mobile
$1,250,000
Mobile
$350,000
1224 Hutson Drive
Mobile
$449,000
110 N. Lafayette
Mobile
$800,000
36606
Medical Office
Building
36607 Dauphin Center
36607 I-65 Service Road
36607 Office / Warehouse
36609 Office Building
36609 Office Building
36609 Hutson Drive
36609
Medical Office
Building
Office Properties
2862 & 2864 Dauphin
Street
212 Interstate-65
Service Road North
262 Furr Street
3207 International
Drive
718 Downtowner Loop
West
Page - 24
Total S.F.
Agent / Phone
Available
1,875
Richard Mann
251-300-3396
3,000
Joseph Betbeze
251-476-4111
7,300
14,000
1,276
15,600
Brian Metcalfe
251-432-2600
Brian Metcalfe
251-432-2601
John Delchamps
251-476-0808
Chad Slaton
251-476-6000
Antone Green
251-626-1970
Allan Cameron Jr.
251-438-4312
Adam Metcalfe
251-432-2600
9,570
9,570
17,225
3,800
3,800
6,250
Don Parden
251-554-1941
John D. Peebles
251-438-4312
Marietta Urquhart
251-479-8606
Marietta Urquhart
251-479-8606
C. David Tisher
251-438-4312
Summer 2009
Table 6.
Total Market of Office Properties Advertised for Sale
City
Sale Price
Total
S.F.
1224 Hutson Drive
Mobile
$450,000
6,000
6,000
University Blvd.
Service Road
Zack Logan Ave. N.
Mobile
$110,000
36609 Boulevard Park
504 Boulevard Park
Mobile
$550,000
4,526
4,526
36617 ABC
2447 E. Interstate 65
Service Road N.
Mobile
$595,000
14,950
14,950
36618 Office
4057 Moffett Rd
Mobile
Call For Pricing
1,200
1,200
36618 Moffett Road
3828 Moffett Road
Mobile
$399,000
4,060
4,060
36619 Office
5636 Three Notch Rd
Mobile
$699,799
87,120
36693 Warehouse /Office
3104 Lee's Lane
Mobile
$260,000
6,666
Mobile
$550,000
6,750
Mobile
$600,000
6,750
Zip
Property Name
36609 Hutson Drive
36609
36693 Office
36693 Investment Office
Address
Government Street
4080-4088
Government Street
4080-4088
36695 Cottage Hill Road
7785 Cottage Hill Road
Mobile
$1,200,000
36695 Hillcrest Road
1105 Hillcrest Road
Mobile
$750,000
Office Properties
Page - 25
Total S.F.
Agent / Phone
Available
6,750
Joseph Betbeze
251-476-4111
Sharon Wright
251-471-1000
Cameron Weavil
251-209-9000
Adam Metcalfe
251-432-2625
Angela McArthur
251-639-4007
Matt Cummings
251-476-6000
Angela McArthur
251-693-4007
Pete Riehm
251-438-4312
Tony Cooper CCIM
251-639-4009
Tony Cooper CCIM
251-639-4007
Adam Metcalfe
251-432-2600
7,500
2,500
Joseph Betbeze
251-476-4111
Summer 2009