Randall Commercial Group, LLC
Investment Real Estate Optimized
Numbers Behind Southeast Hottest Market
Lafayette-Oxford-University Market Report 2015
Randall Commercial Group, LLC 850 Insight Park Ave., University, MS 3867 • Post Office Box 1600, Oxford, MS 38655
Main Office: (662) 234-4044 • Fax: (662) 655-4357
www.randallcommercialgroup.com
Home of The University of Mississippi - Ole Miss
80 miles south of Memphis, TN & 160 miles north of Jackson, MS
62% increase in gross retail sales since 2006 in Oxford
24% increase in Bank Deposits in the Oxford City lim its
since 2010 up to $957 MM
54% increase in Oxford ’s population from 2000 to 2015
29% increase in The University ’s Oxford Campus enrollment
from 2010 to 2015
50% increase in the num ber of students enter ing 1st
Grade compared to students entering 12th grade in the Oxford
School System in 2015
27% increase in total enrollm ent for the Oxford School
District since 2006; 14% increase in Lafayette School District en-
rollment since 2006
Median Home & Condo Price—$229,000
1,007 retiree households bringing assets of $323 million and over $33 million annually in discretionary
income
Ranked #1 on Kiplinger’s “10 Smart Places to Retire” list for 2014
Lafayette County (Oxford) had the State’s top growth rate at 11.8%, form April 2010 to July 2014
Oxford’s daytime population grows by 40% (2010)
Oxford ranked #17 out of 576 U.S. Micropolitans in Economic Strength in 2015
4 New Hotels either under construction or recently com pleted: 1. TownePlace Suites by Marr iott
(Open—94 units); Courtyard by Marriott (Under Construction—121 units); The Graduate (Open—125 units); The Chan-
cellor’s House (Under Contruction 32-units); total of 372 new units
Oxford at a Glance—Page 1
Measure Oxford, MS
(Ole Miss)
Athens, GA
(UGA)
Baton Rouge, LA
(LSU)
Fayetteville, AR
(Unv. Of Ark.)
Tuscaloosa, AL
(Unv. Of AL)
Bank Deposits Per Capita $45,790 $21,255 $61,813 $31,220 $26,389
Gross Retail Sales Per Capita $31,006 $14,328 $18,180 $23,659 $21,025
Median Home & Condo Price $229,000 $149,000 $185,000 $199,000 $155,000
Population Growth 2010 -
2015 10.50% 6.38% 0.22% 10.31% 5.61%
University Undergraduate En-
rollment Growth 2010-2015 28% 6.17% 6.73% 28% 28%
Comparison—SEC Towns
Square Books on Historic Oxford Square
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Retail Profile—Page 2
Fiscal Year
(Lafayette County) Total Retail Sales Pull Factor** Potential Sales
Surplus/(Leakage)
***
S/(L) as pct. of Po-
tential Sales
2014 $942,760,000 1.28 $735,160,000 $270,600,000 28.2%
2013 $812,310,000 1.16 $700,180,000 $112,130,000 16.0%
2012 $745,530,000 1.41 $527,940,000 $217,590,000 41.2%
2011 $639,740,000 1.31 $486,530,000 $153,210,000 31.5%
2010 $636,820,000 1.30 $488,080,000 $148,740,000 30.5%
2009 $695,090,000 1.36 $509,830,000 $185,260,000 36.3%
2008 $698,400,000 1.44 $486,240,000 $212,170,000 43.6%
2003 $477,180,000 1.37 $347,810,000 $129,360,000 37.2%
** Pull factor—The pull factor identifies how much retail business is leaving your community in comparison to the population. A retail pull factor of 1 is neu-
tral; there are as many people coming into the community to shop as are going elsewhere. A retail pull factor of less than 1 means there are more people leaving
your community to shop than are coming in from the surrounding area. A retail pull factor greater than 1 means more people come to the community to shop
than go elsewhere.
***The Oxford>Lafayette market has a “surplus” of retail sales—consumers are drawn in from outside the market.
Sources—www.fdic.gov; Mississippi State University “Extension Service”
62% growth in gross retail sales in Oxford
since 2006.
Compares very favorably per capita to other
SEC towns.
62% growth in gross retail sales in Lafayette
County since 2006.
62% Increase
Highland Court
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Retail Trade Area (Population)—Page 3
2015 Population w/o Students Student Population
(Oxford Campus Only) w/ Students
Oxford City Limits 20,899 19,996 40,895
38655 Zip Code 40,774 19,996 60,770
Lafayette County
(Primary Trade Area) 52,324 19,996 72,320
Oxford City Limits 38655 Zip Code
Lafayette County (Primary Trade Area) Oxford Traffic Count Map
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Financial Summary—Page 4
Financial Institutions
Property Assessment, Building Permits, Etc.
Number of Institutions: 11
2015 Gross Deposits: $956,959,000.00
18% Growth in Bank Deposits since 2009 in Oxford city limits.
Date Gross Deposits
June 2014—June 2015 $956,959,000.00
June 2011—June 2012 $885,992,000.00
June 2010—June 2011 $852,315,000.00
June 2009—June 2010 $825,078,000.00
June 2008—June 2009 $812,226,000.00
$179 Million of Building Permits Pulled between 2013 & 2014
8.10% growth in Sales Tax Collections in Lafayette County between 2014 & 2015
Currently $1 billion under construction or in planning phase in Oxford
63% increase in Ad Valorem Assessment of Real Property Values since 2006—$432.04 million
Off Campus Student Housing
Beds Added since 2010 Beds
Highland Square 753
The Retreat 668
The Hub 582
Molly Bar Trails 303
Faulkner Flats 588
Taylor Bend 288
Total 3,182
FNB Bank on Oxford Square
18% Increase
63% Increase
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Market Economy & Major Employers—Page 5
Insignificant foreclosure rate during recession—according to N. Central MS
Board of Realtors.
Unemployment Rate 2015– Lafayette County 5.8%; Mississippi 7.2%
Average HH Income in 38655 zip code—$60,681
Property Assessment, Building Permits, Etc.
Company # of Employees
University of Mississippi 2,600 The University of Mississippi (Ole Miss) is the flagship university for
the state of Mississippi. www.olemiss.edu
North Mississippi Regional
Center 1,150
Intermediate Care Facility for the Mentally Retarded (ICF/MR). Ser-
vices the northern 23 counties of Mississippi. www.nmrc.state.ms.us
Baptist Memorial Hospital 1,200
217-bed acute care facility serving the northern third of Mississippi.
New $300MM, 680,000 sq. ft. regional hospital campus currently un-
der construction. www.baptistonline.org/north-mississippi/
Olin Corporation—
Winchester Division 1,100
Winchester is the worldwide leader in the manufacture of commercial
small caliber and military ammunition. Oxford’s 500,000 sq. ft. manu-
facturing facility houses Winchester’s Centerfire ammunition produc-
tion lines. www.olin.com; www.winchesterguns.com
Borg Warner 485
BorgWarner is a global product leader in powertrain solutions. The
Water Valley(25 miles south of Oxford) facility is preparing to make its
3rd expansion in 2 years. www.borgwarner.com
Walmart 400 The world’s largest retailer with nearly 11,000 stores under 71 banners
in 27 countries. www.walmart.com
City Of Oxford 340 City municipality. www.oxfordms.net
Caterpillar, Inc. 305
World leading manufacture of construction and mining equipment.
Oxford’s 185,000 sq. ft. High Performance Extrusion Group facility
makes high-pressure couplings used in nearly every piece of equipment
Caterpillar makes. www.caterpillar.com
FNC, Inc. 275
Mortgage technology company that has pioneered real estate collateral
information technology. Currently in process of developing new
68,000 sq. ft. headquarters in Oxford that will provide 300+ high sala-
ry, high-tech jobs. www.fncinc.com
Lafayette County 200 County municipality. www.lafayettecoms.com
FNC Corporate Office
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
217-bed acute care facility (capacity to expand to
290 beds).
Serves the northern 1/3 of Mississippi as a
“regional referral center”.
$200 Million economic impact to Oxford.
90 Medical and Surgical Specialists.
Ranked #1 in Mississippi for Cardiac Surgery.
60% of patients come from outside Lafayette
County.
Voted “Hospital of the Year” by the Mississippi
Nurses Association in 2011.
New $300 million 680,000 sq. ft. hospital cam-
pus currently under construction.
Two medical office buildings (MOB) totaling 40,000 sq. ft. will be constructed on the campus.
Healthcare—Page 6
Services for patients with intellectual and related develop-
mental disabilities.
A licensed Intermediate Care Facility for the Mentally Re-
tarded (ICF/MF).
Serves 23 counties in North Mississippi.
1,150 employees
220-acre campus with 25 departments.
operates 12 residential cottages housing 280 clients on its
220-acre Oxford campus.
New Hospital Rendering
Current Construction
NMRC Campus
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Education—Page 7
Oxford School District
4,250 students in the Oxford School District.
27 % increase in enrollment since 2006; 18% since
2001
A 50% increase in the number of students entering 1st Grade compared to students entering 12th grade in
the Oxford School System.
New $30 million, 220,000 sq. ft. Oxford High School—opened spring semester of 2014.
Oxford High School & Oxford Middle School are award winning Level 5 (Superior-Performing) Schools.
Oxford School District has 7 schools—Bramlett Elementary School (PreK-1), Oxford Elementary School
(Grades 2-3), Della Davidson Elementary School (Grades 4-5), Oxford Middle School (Grades 6-8), Ox-
ford High School (Grades 9-12), Oxford Learning Center (Grades 6-12), C.M. Scott Center (Special
Needs).
Lafayette County School District
2,741 students in the Lafayette County School Dis-
trict.
14% increase in enrollment since 2006.
School is located on the Oxford City Limits.
Lafayette County has 4 schools—Lafayette Elemen-
tary School, Lafayette Upper Elementary School,
Lafayette Middle School, and Lafayette High School.
Oxford High School Oxford High School
Aerial of Lafayette Co. School
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Founded in 1848, Ole Miss is the flagship university of the
state of Mississippi.
With more than 23,838 students, Ole Miss is the state's largest
university, with a major medical school, a nationally recognized law school and 15 academic divisions.
Enrollment has grown by 59.3% over the past decade, and by 28% in the past five years alone.
A record enrollment in UM Medical Center, up 9.1% from 2013 to 2014.
Hosted 2008 Presidential Debate.
Ole Miss was ranked #18 on Forbes “Best Value College” - only SEC school to make the Top 20 List.
U.S News and World Report ranked the Professional MBA program one of the top 14 in the Nation.
Patterson School of Accounting in top 10 nationally.
Higher Education—Page 8
Opened in 1983.
A 31,000 sq. ft. expansion was opened in August 2002.
Northwest’s Oxford Center
is home to just over 1,000 stu-
dents.
Also home to the Lafayette-Yalobusha Techincal Center, which offers pro-
grams in Office Systems Technology, Health-care Data Technology, Microcomput-
er Technology, Cosmetology, Health Care Assistant, Office Assistant, Practical
Nursing, Paralegal Technology and Surgical Technology.
The University of Mississippi—Ole Miss
Northwest Mississippi Community College—Oxford Center
The Lyceum Vaught-Hemingway Stadium
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
University Impact—Page 9
Current Projects on Campus
Football Attendance 2015—423,353 fans; 60,479 per game aver-
age (7 home games).
Basketball Attendance 2014/15—115,196; 7,200 per game average
(16 home games).
Baseball Attendance 2015—225,873 fans; 8,066 per game average
(28 home games) - Ranked 2nd in the NCAA for attendance.
Population grows to 100,000+ during home football game week-
ends.
Ole Miss Athletics has currently exceed its capital contributions
goal of $150,000,000. Ole Miss Athletics has raised
$155,000,000 in just 4 years for enhancement and expansion of
the football stadium, basketball arena and other sports facilities.
Projects Projected Completion
Date Est. Value
The Pavilion at Ole Miss (Basketball Arena) and Parking
Garage. Completed $90,000,000.00
Coulter Hall Completed $16,000,000.00
Sally McDonnel Barksdale Honors College—Renovation
and Expansion 2016 $6,300,000.00
Music Building—Renovation and Expansion Completed $4,300,000.00
Old Taylor Rd. Roundabouts Completed $6,800,000.00
Phase II of the Thad Cochran Research Center Completed $31,700,000.00
New Residence Hall 2015 $18,000,000.00
Student Union—Renovation and Expansion 2018 $50,000,000.00
Total Est. Value $223,100,000.00
Impact—Ole Miss Athletics
Rendering of Stadium Expansion
and The Pavilion
Swayze Field
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
Published by:
Brian P. Phillips, CCIM
Associate Broker
Direct Office: 662-638-0722
Email: [email protected]
Licensed AR, LA, MS
Randall Commercial Group, LLC
850 University Ave.
University, Mississippi 38677
Post Office Box 1600
Oxford, Mississippi 38655
Main Office: 662-234-4044
Fax: 662-655-4357
www.randallcommercialgroup.com
About Randall Commercial Group, LLC
Randall Commercial Group, LLC is a boutique commercial real estate investment brokerage and consulting firm that focuses on real estate
and development opportunities throughout the southeastern United States for clients based throughout the country. Through our consulting
company, Randall Commercial Advisory, LLC, our clients are provided with real estate consulting, solutions, and financial analysis services to
maximize the potential of real estate holdings and to overcome challenges with their properties. We operate with a diligent and specialized
eight person team that is committed to exceptional client service and outcome. Our team-based approach provides several professionals col-
laborating on each project thereby optimizing results.
Through a myriad of brokerage services and consulting services, we serve institutional and individual investors, property owners and end us-
ers, developers, and tenants in real estate ranging up to $50 million in market value. By focusing on a range of property types and uniquely
specialized services, we are better able to accommodate diverse client interests: from a small single tenant property to a large mixed-use de-
velopment. We provide a professional platform for operating, utiliz-
ing, acquiring, or disposing of real estate assets directly. Rather than
working in a single city or state, our large geographical footprint al-
lows us to operate with an opportunistic and diversified focus, to see
markets objectively, and to move into stronger markets and out of
weaker ones as market conditions dictate. This also provides us the
flexibility to work with clients that have real estate interests in multi-
ple markets.
Our corporate strategy is simple: client first. Our approach is unique:
proprietary research, team-based approach, creativity and persever-
ance allowing us to focus on creating and preserving client wealth on
property at a time while building meaningful, long-term relationships.
Our niche is commercial and investment real estate; we have carved
out special practice groups in complex areas of real estate. Our pro-
fessionals are diverse through our unique experience, expertise, and
education which benefits the client experience. We do not desire to be
all things to all clients, but we are singularly and pas-
sionately focused on being all things in investment
commercial real estate.
Contact Information — Page 10
Geographic Area
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357
References — Page 11
http://msucares.com/crd/county_profiles/2014_retail_profiles/lafayette_county_retail.pdf
https://www5.fdic.gov/sod/sodMarketBank.asp?barItem=2
Ersi (STDB)
http://irep.olemiss.edu/wp-content/uploads/sites/98/2016/01/Mini-Fact-Book-in-Excel_2015-
2016.pdf
http://news.olemiss.edu/um-enrollment-soars-past-23800-students/
http://irep.olemiss.edu/wp-content/uploads/sites/98/2014/02/
fall_2013_2014_enrollment_profile_final.pdf
http://irep.olemiss.edu/institutional-research/enrollment-data/
http://www.oir.uga.edu/fact_book
http://www.lsu.edu/bgtplan/trend/data/fteenrl.pdf
http://oir.uark.edu/quickfacts/factbook-2015-2016.pdf
http://oira.ua.edu/d/content/glance
http://www.dor.ms.gov/Statistics/Pages/default.aspx
http://reports.mde.k12.ms.us/data/
http://www.realtor.com/local/
http://www.policom.com/PDFs/2015%20Economic%20Strength%20Rankings.pdf
Ersi (STDB)
http://mdes.ms.gov/information-center/labor-market-information/data-maps/
http://www.oxfordms.net/business/permit-data
http://www.cbssports.com/collegefootball/writer/jon-solomon/25418087/college-football-attendance-
drops-for-fifth-straight-year-but-at-slower-rate
http://assets.espn.go.com/SEC/baseball/2015/SEC%20Baseball%20Attendance.pdf
http://fs.ncaa.org/Docs/stats/m_basketball_RB/Reports/attend/2015.pdf
http://wreg.com/2015/08/07/three-new-hotels-going-up-near-downtown-oxford-ms/
http://www.indexmundi.com/facts/united-states/quick-facts/mississippi/population-growth#chart
www.northwestms.edu
http://news.olemiss.edu/um-forward-together-campaign-exceeds-goal-announces-extension/
http://www.dor.ms.gov/Statistics/Pages/default.aspx
www.randallcommercialgroup.com
850 Insight Park Avenue | University, Mississippi 38677 | Post Office Box 1600 | Oxford, Mississippi 38655 | Phone: 662-234-4044 | Fax: 662-655-4357