BIRMINGHAM, Alabama — Graham & Co. brokers point to $18.8 million in commercial property sales in the second quarter as a sign that the Birmingham real estate market is on an upswing.
Mike Graham, president of Graham & Co., said pent-up demand combined with ample inventory and low interest rates have provided continued lift to the local commercial real estate market.
Where were the nearly $20 million in deals? Turns out they were all over.
Graham represented the buyer of a 10,400-square-foot office-warehouse at Academy Drive in Bessemer. Southpace Properties Inc. represented the seller.
Other deals included:
• Alabama Telco Credit Union’s purchase of the 57,000-square-foot, 65-acre former Harbert Corp. headquarters in Hoover’s Riverchase. Graham represented Alabama Telco while Harbert Realty represented the seller.
• A three-parcel investment package with properties in Hoover, Calera and Moody that included two developed subdivisions and the former Holiday Inn site in Hoover at Interstate 65 and U.S. 31.
• A 21,500-square-foot office-warehouse on 10 acres at 1401 Georgia Road in Birmingham.
• A 25,330-square-foot equipment shop and corporate offices on 7½ acres at 2536 Commerce Circle in Tarrant.
• A 12,400-square-foot fully conditioned printing facility at 4700 Birmingham St. The buyer was represented by EGS Commercial Real Estate.
• A 36,000-square-foot, three-building industrial complex on 9.6 acres at 3309 U.S. 31 South in Calera.
• A 22,682-square-foot, multi-purpose building at 400 Valley Ave. formerly known as the Scottish Rite Temple.
• A historical 3,872-square-foot office building at 1314 Cobb Lane.
The quarter wasn’t without some notable industrial leasing deals, according to Graham.
Graham & Co.’s development at the Jefferson Metropolitan Park McCalla landed what may have been the biggest new lease of the quarter with Caterpillar Logistics’ 160,160-square-foot lease for an automotive client. Other notable new leases:
• A tire distributor has leased 218,000 square feet of the former Meadowcraft Distribution Center in Pinson.
• Jones Plumbing leased 78,000 square feet at Moody Commerce Park.
Graham noted that some of the quarter’s leasing activity was, unfortunately, the result of the April 27 tornadoes.
600 acres of Rocket City land up for auction
These days, when large swaths of land in Huntsville are talked about, it’s usually in conjunction with chatter about another automotive plant looking at the state.
But the 600 acres going up for sale on Aug. 16 will be for the highest bidder.
Gadsden’s National Auction Group Inc. is selling the Anderson Farms property on Mooresville Road at absolute auction, meaning whatever the highest bid is determines the sales price.
The property is near the intersection of Interstate 565 and Interstate 65 and in the Huntsville city limits. A single buyer can buy the whole thing or the property can be broken into as many as 13 pieces ranging in size from 14 to 168 acres. The property has one mile of frontage on Mooresville Road and there is a creek that meanders through the site.
“For anyone looking for land with terrific development potential in a great location, this auction represents an incredible opportunity,” said National Auction Group president William Bone. “Bidders can choose their price and quite possibly walk away with a great buy.”
Bidders will be required to pay 10 percent down on auction day and must have $50,000 in the form of a personal check, business check or certified funds if they intend to bid on the entire property, or $10,000 per individual tract.
They auction will take place at the property at 10905 Mooresville Road.
More information can be found at NationalAuctionGroup.com.
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