Major CRE firm moving HQ downtown
Graham & Co. and Graham Commercial Properties will move their headquarters from the suburbs to downtown Birmingham later this year.
The companies will move into a total of more than 19,000 square feet at the Historic Federal Reserve building at 1801 Fifth Ave. N. They were previously located at Office Park in Mountain Brook.
“We’re excited to be relocating to downtown Birmingham,” said Graham & Co. President Mike Graham. “We look forward to using our new offices to better serve our customers and clients in this region, as well as support our continued growth. We think the move to the city center is consistent with our commitment to Birmingham.”
Walter Brown of Graham & Co. represented both companies in the new lease transaction, while Norman Tynes of Harbert Realty Services represented Capstone Real Estate Investments, which is developing the property with Harbert.
Earlier this week, strategic communications firm Markstein announced it will move its offices from Wells Fargo Tower to Historic Federal Reserve as well.
Graham & Co. will be located in the east side of the Historic Federal Reserve, while GCP will be in the original historic portion of the building. The two companies will be able to share accounting, HR and IT functions. In total, the two companies will occupy the entire third floor and a portion of the ground floor.
As previously reported, Harbert Realty Services and Capstone Real Estate Investments have teamed up to redevelop the historic buildings that sit at a prime corner between the financial district and a quickly revitalizing urban core. The project is one of several in downtown that utilized historic tax credits.
“I commend Mike Mouron’s vision for the historic renovation of this beautiful old building and the utilization of historic tax credits, which played a big role in making this project possible,” Graham said. “We encourage our state leaders to take steps to bring back these tax credits as a catalyst for more revitalization.”