Commercial real estate market increases in Pascagoula - WLOX.com - The News for South Mississippi

Commercial real estate market increases in Pascagoula

PASCAGOULA, MS (WLOX) -

For the first time in years, Mississippi Real Estate Commissioner and owner of Cumbest Realty Incorporated broker and owner Mark Cumbest says he's seeing resurgence in Pascagoula's commercial real estate market.  

And he says he thinks it's due to several factors including the city's ability to provide jobs. I met up with Cumbest to learn more about what caused this increase in purchases and leases in Mississippi's flagship city. 

These days there's a lot more people interested in setting up a business in Pascagoula.  

All types of businesses have either been opened on leased space or built from the ground up within the last two years.  

Cumbest says he credits the resurgence of commercial property sales to major infrastructure changes and yearly increases in traffic through the city.

"Once one thing starts selling and a brand new shiny new business opens up then it kinda creates a little bit of an, artificial or not, fever for other people to come in and follow suit. And it's just kind of a morale booster when you see some brand new company come in," said Cumbest. 

Some of the new businesses Pascagoula residents will see is the Hilton Garden Inn, which is the city's first full service hotel built on the former site of the La Font Inn.  

And just a few blocks west of the hotel, Cumbest says he sold the property where a new IHOP will sit on Denny Avenue. 

Several prospective buyers have already shared interest in two properties that have been on the market for just a few months. 

"We're seeing more activity. I've got the Pascagoula ice house. That's three acres here on Highway 90 just off of Highway 90 that is getting a lot of activity inquiries on that as well. The Catalina restaurant. We've just seen a lot more activity lately and good qualified inquiries from folks. 

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