Check out some key stats below from the final month of 2023 and see previous market reports by clicking this link.
Industrial and retail lease rates continue to rise in Mobile county. Some tips if you are looking for this type of property would include:
- Act promptly in your decision-making; rates for both these types of properties have been slowly and consistently rising over the past 3-6 months, so if you are ready to commit, further delay could lead to higher costs in the future.
- Explore long-term rates. If you’re hoping to be in a space for more than 1 year, ask about rates for longer lease lengths to possibly lock in current prices and avoid higher rates at renewal next year.
Office lease rates have dropped slightly in the past 3 months. Meanwhile, Mobile saw a massive spike in reported sales price for land, likely due to a large anomalous deal.
- For those looking to lease office space, explore long-term rates. If you’re hoping to be in a space for more than 1 year, ask about rates for longer lease lengths to possibly lock in the current prices.
- If land interests you, be sure to conduct a comprehensive analysis when determining what rate you’ll offer. A real estate agent can assist with this process by preparing a comparative market analysis on recent and pending deals so you can avoid paying more than fair market value.
