NEWS & REPORTS
Graham & Company, LLC is pleased to announce that Jerry Grant has joined the firm as Vice President, Office Group and will handle office brokerage and leasing. Jerry brings more than 10 years commercial real estate experience in dispositions, property acquisitions, landlord representation and tenant representation. Jerry’s portfolio of experience includes a variety of national institutional clients such as Cousins Properties, Inc., Lord Baltimore Properties, and Wells Real Estate Funds. Locally Jerry’s experience includes some quality names such as Samford University, Education Corporation of America, Daxko, Synovus Mortgage and Robins & Morton. He is a Certified Commercial Investment Member (CCIM), secretary for the Birmingham Commercial Real Estate Council (BCRC) and a past president and current national Board member for the Alabama chapter of NAIOP, a Commercial Real Estate Development Association. Jerry previously worked as Vice President – Office Leasing at Daniel Corporation.
Jordan Tubb, who joined Graham & Company in 2007, has been promoted to Vice President, Industrial Group. Jordan represents purchasers, sellers, landlords and tenants in site selection, expansions, relocations, renewals, valuations, acquisitions and dispositions.
Hayden Scott, who joined Graham & Company in 2002, has been promoted to Director, Valuation Group. Hayden specializes in office, medical, retail and multi-family properties. She received the MAI designation of the Appraisal Institute in 2010. In addition to providing valuation services for financial institutions, she provides appraisal and consulting services to attorneys, accountants, and institutional clients.
The Alabama real estate firm that recently sold a Downtown tower to CSX Corp. has picked up an office/warehouse center on Philips Highway for $21 million.
Graham & Co. of Birmingham, Alabama, bought the Interstate South Commerce Center from Unum Group and United of Omaha Life Insurance Company, according to a deed filed Friday with Duval County.
The 34,000 square-foot building has 4,290 square feet available, according to sales information on Graham & Co.’s website.
The 25-acre site has six buildings, according to the Duval County Property Appraiser, and an assessed value of $17.55 million.
Unum Group and UM Holdings IV took over the property from Windsor at Interstate South LLC in 2011, according to county records. Windsor had purchased the property for $29.7 million in 2007.
Early in December, BP Graham — an Alabama-based investment company that includes members of Graham & Co. and other investors — sold the 14-story office tower at 550 Water St. to CSX for $30 million, according to city records.
Those who are closely following Birmingham’s manufacturing fortunes may have their eyes on the skies – and Montgomery – among other things.
One of the biggest questions surrounding the Magic City’s manufacturing industry is whether the state’s recent success in aerospace, particularly the new Airbus plant in Mobile, will benefit Birmingham.
Experts say Birmingham’s day may come, but it might take a while.
Deborah McGill Smith of Cushman & Wakefield EGS said aerospace is a little different than the automotive industry, which has thrived in the state since Mercedes-Benz arrived in the mid-90s.
“We can’t look at the auto industry,” Smith said. “Assembling airplanes is different.”
Smith said the volume of cars being manufactured in Alabama versus the number of airplanes being assembled is dramatic.
“The demand for those parts is not as frequent,” she said of the aerospace industry. “It’s still easier to ship those parts.”
But the 1.7 million Kaiser Aircraft facility near Birmingham’s airport could help the area’s chances to get more involved in the state’s growing aerospace scene.
Graham & Co. was hired in early July to market the site. Smith said she believes whoever lands at Kaiser’s campus will be tied to the aerospace industry, but it may take some time.
Another big question facing Birmingham’s manufacturing industry involves incentives.
Specifically, will the Alabama Legislature make more money available to boost what the state can offer in the way of economic development incentives.
There was talk of calling a special session to discuss Alabama’s incentive funds in 2014, but that didn’t happen.
State leaders have said replenishing the incentive funds is critical due to the fierce competition Alabama is facing from regional rivals at a time many manufacturers, particularly in the automotive and aerospace worlds, are targeting the South for growth.