[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”3_4″ layout=”3_4″ last=”no” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_size=”0px” border_color=”” border_style=”” padding=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” min_height=””][fusion_text]
The Huntsville commercial real estate market performed extremely well in the retail and industrial sectors in 2016. The office market showed encouraging signs of improved occupancy, hopefully signaling that the worst is behind us.
Industrial vacancy fell to 6.86%, the lowest rate the Huntsville market has seen in over a decade. The Greenbrier area was once again a hot area for growth. The Huntsville Mega Site, a 1,252-acre site in Limestone County’s Greenbrier area, was officially announced as a TVA Mega Site. Polaris expanded its plant, and it now encompasses over 900,000 square feet. The GE Aviation plant is under construction and will be completed in 2017.
The office market showed signs of improvement as overall vacancy rates fell for the first time since 2010, and vacancy is expected to continue to decrease. 2016 brought little new construction, and over 550,000 sf of older office product was razed. The new master plan for Cummings Research Park was announced, boosting interest in buyers. Several older properties in CRP were purchased in areas slated for redevelopment.
The retail market was active once again in 2016. Vacancy dropped below 10% as several new large projects began construction. Madison Square Mall was demolished to make way for the MidCity development.
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_4″ layout=”1_4″ last=”yes” spacing=”yes” center_content=”no” hide_on_mobile=”no” background_color=”” background_image=”” background_repeat=”no-repeat” background_position=”left top” hover_type=”none” link=”” border_position=”all” border_size=”0px” border_color=”” border_style=”” padding=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”” animation_speed=”0.1″ animation_offset=”” class=”” id=”” min_height=””][fusion_imageframe image_id=”19142″ style_type=”none” stylecolor=”” hover_type=”zoomin” bordersize=”0px” bordercolor=”” borderradius=”0″ align=”none” lightbox=”no” gallery_id=”” lightbox_image=”” alt=”” link=”https://www.grahamcompany.com/wp-content/uploads/graham-report-archive/HSV_graham_report_2017.pdf” linktarget=”_blank” hide_on_mobile=”no” class=”” id=”” animation_type=”” animation_direction=”down” animation_speed=”0.1″ animation_offset=””]https://www.grahamcompany.com/wp-content/uploads/2017/08/HSV_graham_report_2017-243×300.jpg[/fusion_imageframe][fusion_text]
HSV Market Report – 6.96MB PDF
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]