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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


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



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



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



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



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



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



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



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



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


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



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



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