8.75% Cap Government Anchored Office Towers — Sale in Jackson, MS
- Price: $7.3M
- Listing type: For sale
- Asset type: Office
- Location: Jackson, MS 39201
- Year built: 1987
Photos
Investment Figures
- Cap rate
- 8.75%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Jones Lang LaSalle ("JLL") has been retained on an exclusive basis by the Seller to present the opportunity to acquire City Centre; an impressive Class-A two-tower office park located in the heart of downtown Jackson, MS. The 10 story North Tower is comprised of 128,500 SF sitting on 0.58 acres, while the 12 story South tower is comprised of 137,500 SF on 0.4 acres. The anchor tenant, Mississippi Department of Human Services, occupies 69% of City Centre. The lease was renewed in 2019 on a 20-year lease, with 14 years remaining and carries an AA S&P Credit Rating. MDHS has since expanded and now occupies 3 floors of the North tower and all 12 floors of the South tower. New Ownership will have the opportunity to increase the NOI by managing the property more efficiently, therefore, reducing the operating expenses.
Market Context
This office in Jackson, MS is listed for sale at $7,250,000. It is offered at an approximate 8.8% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1987. Compare it against other office listings for sale in Jackson, MS — view the full market.
Contact
- Isabel Eiler · 4045749550 · isabel.eiler@jll.com
- Huston Green · 4044601646 · huston.green@jll.com
- Rick Goings · 7134255855 · rick.goings@jll.com
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