In 2016, the overall Birmingham Office Market posted -519,151 sf of absorption. While this number seems high, it represents less than 2% of the total market. The majority of this decline can primarily be attributed to three tenants vacating large spaces. Despite this setback, confidence in the market remains high with new developments in the [...]
2016 proved to be a productive year in Birmingham’s industrial real estate market. For multi-tenant buildings, occupancy rates eclipsed 90% for the first time since 2005, with the market absorbing over 400,000 sf. There is now only 1.5 million sf of space remaining. Asking rental rates have moderately increased for both bulk distribution and office/warehouses. [...]
After two years of positive absorption, the overall market posted -90,549 sf absorption. Occupancy dropped slightly to 90.06%, but remained higher than 2013 and 2014. While the numbers marked a slight downtick from the previous year, confidence remains high for Birmingham’s office market. The Central Business District has been buzzing for a while now with activity [...]
