Site of Hoover Child Care Center Sold for $620K

November 4th, 2015

Chace Lake Image

The site that will be Children’s Lighthouse early child care center in Hoover was recently purchased for $620,000.

As we’ve previously reported, Children’s Lighthouse plans to build a 10,500-square-foot facility on the one and a half acre site located at 4731 Chace Circle, right off U.S. 31 in Hoover’s Chace Landing development.

Ira Levine of Levine & Associates represented the buyer, Roar Mgmt Group LLC in the purchase. Dan Lovell of Graham & Co. represented the seller, Chace Circle Development LLC.

Franchisee Kent Rogers previously told the BBJ that the center will accommodate more than 200 children when it opens in late winter or early spring of 2016.

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What’s next for old Trinity campus?

October 19th, 2015


Tonight, the old Trinity hospital campus sits empty. It has a new home in Grandview Medical Center on Highway 280.

But what does the future hold for the facility? The old campus is 20 acres, with more than 900,000 square feet of redevelopment space. The plan is to give these buildings new life.

Grandview President and CEO Keith Granger knows this site is an asset to the Birmingham area.

“I think it will be all about finding the right player who will take that site (and) give it the opportunity to have new life,” Granger said. He says they are working with Graham & Company commercial real estate to determine what will be the best use for the campus. “It’s likely it will be a multi-use campus. It would be unlikely that a single party would be able to take an use all the facilities.”

Walter Brown of Graham & Company believes there are no shortage of options for redevelopment of the 20 acre campus. “Anything from schools, to mixed use, whether it’s condominiums or apartments, or potentially senior housing, is also a possibility,” Brown explained. “We don’t think it’s going to be just one thing. We think it needs to be subdivided and carved out for multiple type purposes.”

Just about everything on the campus can be re-purposed, except the hospital building. Brown says this campus is all about location, location, location. “The location is excellent, we think it will be a demand for redeveloping it. We’re not quite sure what the purpose will be.”

In March of 2014, Momentum — a technology business — left Hoover and relocated to Trinity’s campus. Brown believes there is plenty of incentive for more businesses to move on to the old campus.

The City of Birmingham’s economic development team is working with Graham & Company to seek out other potential businesses and companies. Right now there is no active plan for the future of the Trinity campus. However, the hope is to have a plan for the campus by the middle of next year.

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Grey Construction names new Birmingham Leadership

October 6th, 2015

1728 3rd Ave N

Graham & Company agents John Coleman, SIOR and Sam Carroll, SIOR have up to 35,000 SF available for lease in this new cutting edge cool building. Check out our website for more information

Gray Construction, the Kentucky-based firm that is redeveloping the Booker T. Washington building downtown, named a new leadership team for its Southeast office.In a release Tuesday, the company said Brian Jones is now the chief operating officer for its headquarters in Lexington, Ky. Jones began with Gray Construction as an intern in 1999 and was in the Birmingham office from 2004 until this promotion. He most recently served as vice president of the Birmingham office.Daniel Pittman will now serve as regional manager of the Southeast office in Birmingham. Pittman previously worked at B.L. Harbert and Charles & Vinzant Construction. In his new role, Pittman will work with subcontractors and customers on plans, proposals and sales, as well as supervising all team members in Birmingham.

“This is an exciting time not only for our team in Birmingham, but for Gray as a company. We’re seeing some of our biggest opportunities in the Southeast, and are extremely proud of the excellent talent we have on board to manage our continued growth,” Jones said in the release. “Our Birmingham office is in good hands under Daniel’s leadership.”

Additionally, the company said Zach Lemley has been named manager of business development and Alex DeMartini is now manager of project development services.

As we’ve previously reported, the company will convert the historic Booker T. Washington building on Third Avenue North into Gray’s Southeast base of operations. Gray will lease the space it doesn’t use to other tenants.

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Shelby Commerce Park distribution center sold for $11M

August 12th, 2015


Birmingham-based Graham Commercial Properties has announced the sale of a large distribution center in Shelby Commerce Park.

The 247,000-square-foot Class A building that was leased to Plantation Patterns in 2014 was sold for $11 million, according to a release from Graham Commercial Properties.

“Execution of the Plantation Patterns lease and ultimate sale of this property is a sign of the strengthening market,” said GCP CEO Brad Sandidge. “Occupancy of industrial real estate is tightening up in the Birmingham market and attracting investors.”

GCP’s sister company Graham & Co. and DTZ handled the transaction. GCP’s management group will continue to serve in its capacity as property manager of Shelby Commerce Park, including the Plantation Patterns building.

GCP wasted no time in reinvesting the capital gained from the sale, announcing the $12.5 million purchase of the 125,000-square-foot industrial space at 2100 The Oaks Pkwy. in Belmont, N.C.

“We saw the opportunity to enter the Charlotte industrial market through an investment in a quality property with a solid tenant,” said Gardner Lee, president of GCP. “The I-85 corridor is one of GCP’s tier one targets, and this investment aligns with our core growth strategy.”

Built in 1999, the Belmont property represents GCP’s entry into the North Carolina market.

GCP is currently seeking more potential resources of new equity infusion into the company’s growing portfolio. Future equity will result in aggressively pursuing new value-add deals in new markets across the entire Southeast, the company said.

The company currently has 26 industrial properties across Alabama, Florida and now North Carolina.

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500 Office Park Sold

July 13th, 2015


Dan Lovell, SIOR, LEED AP of Graham & Company represented the Purchaser in its acquisition of the 62,534 sf office building located in the heart of Office Park. Rich Campbell, III, CCIM of Veritas Commercial Real Estate represented the Seller in the transaction.
The 500 Building on Office Park Drive in Mountain Brook has been sold.

The 62,235-square-foot building is located in the Midtown submarket at 500 Office Park Drive. The building is situated near U.S. 280 between Hollywood Boulevard and Shades Creek Parkway.

The development was built in 1970 on 2.3 acres of land, according to LoopNet.

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