NEWS & REPORTS

Salvation Army Angel Tree

December 5th, 2014
Salvation Army Angel Tree 2014

Salvation Army Angel Tree 2014

With the help of Graham’s Julie Hubbard, Joelle Stuart and Courtney DeShazo Salvation Army Angel Tree 2014 was a huge success! Graham & Co employees sponsored sixteen children to help make it a Merry Christmas this holiday season.

The Salvation Army Angel Tree is an annual charity event helping to provide children with gifts and supplies needed. Needy families can register to receive gifts, while those who are able can sign up to donate to children. This simple connection can mean the world to someone in need.


Former Bruno’s corporate office sells for $3.1 million

November 12th, 2014

Birmingham Logistics LLC sold the 120,000-sqaure-foot office building at the intersection of Lakeshore Drive and Industrial Drive in Birmingham to Westbury 3 LLC for $3.1 million, according to Jefferson County public records.

Birmingham Logistics LLC sold the 120,000-sqaure-foot office building at the intersection of Lakeshore Drive and Industrial Drive in Birmingham to Westbury 3 LLC for $3.1 million, according to Jefferson County public records.


Bruno’s former corporate headquarters has been sold.

Birmingham Logistics LLC sold the 120,000-sqaure-foot office building at the intersection of Lakeshore Drive and Industrial Drive in Birmingham to Westbury 3 LLC for $3.1 million, according to Jefferson County public records.

Graham & Co. Senior Vice President Ogden Deaton handled the transaction for the investor, who declined to be named at this time.

Deaton said this purchase involved only the office portion of the property. The warehouse was not part of the acquisition.

Deaton said the purchase is an investment property, and the office building is currently undergoing a renovation and will be subdivided for multiple tenants.

“It’s a great building for a company that has a high employment count,” Deaton said. “There’s a lot of parking. It’s a great looking functional building.”

Deaton said the investor will make an announcement in a few weeks about the future layout of the building and the pricing per square foot.

Meanwhile, the former Bruno’s warehouse, which was occupied by New Hampshire-based C&S until its closure in 2013, is still on the market.

C&S was the largest creditor to now bankrupt Belle Foods. When Belle Foods filed for bankruptcy, C&S was forced to close the warehouse and cut 203 jobs.

Deaton said there has been significant interest in the 1.4 million-square-foot warehouse.

“There’s been huge interest, but we have not secured anybody yet,” Deaton said.

[ Read article at bizjournals.com]


Sprouts coming to Vestavia Hills

November 11th, 2014

Franklin, Tenn.-based developer GBT Realty purchased a 3.34-acre site along U.S. 31 in Vestavia which contains two closed restaurants, Pizza Hut and Ruby Tuesday.

Franklin, Tenn.-based developer GBT Realty purchased a 3.34-acre site along U.S. 31 in Vestavia which contains two closed restaurants, Pizza Hut and Ruby Tuesday.


Sprouts Farmers Market is coming to Vestavia Hills.

Franklin, Tenn.-based developer GBT Realty purchased a 3.34-acre site along U.S. 31 in Vestavia which contains two closed restaurants, Pizza Hut and Ruby Tuesday.

GBT Realty paid Alabama Power Co. $2.8 million for the property.

Walter Brown and Dan Lovell of Graham & Co. represented Alabama Power in the disposition, and Tom Hickman of GBT Realty represented the purchaser.

The developer confirmed Monday the site at 1099 Old Montgomery Highway will be the future home of the Arizona-based grocer.

This is the third confirmed Sprouts Farmers Market for the Birmingham area this year and the second that involves GBT Realty.

Sprouts announced it had signed a lease with Brook Highland Plaza in September, a store set to open in 2015.

Also in September, GBT Realty confirmed Sprouts would be the anchor tenant in the Crossings of Hoover development at the intersection of John Hawkins Parkway and I-459.

It has not been determined yet the size or the opening date of the Vestavia Hills store.

The Brook Highland location will be just over 22,000 square feet, and the Crossings at Hoover store will be 28,000 square feet.

The Vestavia development has been in the works for several months.

In May, the BBJ reported the City of Vestavia Hills would sell its former public library to America’s First Credit Union. The proceeds from that transaction are to be used to help fund a $1.6 million incentives package for GBT Realty to develop the property.

The sale of the library closed last week for $850,000.

City officials say, once developed, the site could bring as much as $500,000 per year in new sales tax revenues.

This announcement comes days after Austin, Texas-based Whole Foods Market announced it would open its first Hoover location at the site of the former Belle Foods at Riverchase Village.

[ Read article at bizjournals.com]


Birmingham warehouse market stabilizing

October 28th, 2014

Commercial development is picking up all over the country.

The hottest sector within that market is warehouse sites. Developers nationwide have spent over $1.5 billion on property that has been proposed for warehouse, industrial park usage and light industrial projects, according to a recent article at Realtor.com.

The demand for warehouse and industrial space in Birmingham is not quite as sizzling as other markets, but Graham & Co.’s senior vice president Ogden Deaton said Birmingham is on track for recovery in the industrial sector.

“I think we’re probably a little behind the rest of the country in recovery, but it is happening now,” Deaton said.

Deaton said one sign of recovery is the stabilization of rates and even some rate increases throughout the market.

Vacancy rates are also going down. Deaton said the tipping point for occupancy will be around 95 percent.

When the market reaches that point “there potentially will be some building,” he said.

Deaton said new product could be hindered by the costs associated with construction.

“There needs to be some pretty strong demand for that to happen,” Deaton said.

Deaton hopes the market will continue to stabilize and be as healthy as it’s been since the end of the recession.

Birmingham’s two largest deals in the last year were Pradco’s 263,000-square-foot lease at Shelby Commerce Park and Plantation Patterns’ 247,000-square-foot lease in the same park.

Deaton said those deals and some expansions have tightened the warehouse market in Birmingham.

“We’ve come a long way,” Deaton said, referring to the time since the recession years.

[ Read article at bizjournals.com]


Trace Crossings office building sells for $1.25M

October 14th, 2014

A Birmingham real estate investment company has purchased an office building at Trace Crossings in Hoover.

A subsidiary of Shamrock Investments LLC, 5395 Emery Way LLC, purchased the property at 421 Emery Drive from Hunter Trace LLC. The property sold for $1.25 million, according to Jefferson County public records.

Sam Carroll of Graham & Co. represented the seller in the transaction.

Dennis O’Brien, owner of Shamrock Investments, said the 9,210-square-foot office building will serve as another investment property, and it will serve as Shamrock’s new home.

Shamrock will lease 1,500 square feet. That will make the building 100 percent leased.

Current tenants include MikosKampakis Insurance Co. and Fairway Mortgage.

Shamrock’s address, which is in the back of the building facing Emery Drive will be 5395 Emery Drive.

[ Read article at bizjournals.com]



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