NEWS & REPORTS

Kaiser site among key things to watch in manufacturing

January 8th, 2015

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.

[ Read article at bizjournals.com]


Graham & Co., investors get $30 million for Jacksonville skyrise

December 22nd, 2014

Graham & Co. and investors sell prominent office building in Jacksonville for $30 million.

Graham & Co. and investors sell prominent office building in Jacksonville for $30 million.

Class A office continues to be a hot product nationwide.

Birmingham-based Graham & Co., along with other investors, took advantage of the favorable market conditions this week by selling a 14-story office building in Jacksonville, Fla.

BP Graham LLC sold the building at 550 Water Street to CSX Corp. for $30 million.

The seller’s LLC is comprised of the principals at Graham & Co. and a group of undisclosed investors. The corporation had owned the building since 2007.

CSX Corp. occupies 11 floors of 234,310-square-foot building, which serves as the company’s main IT and Intermodal facility, supporting over 800 employees.

CSX Corp. has its headquarters in a building adjacent to 550 Water Street.

Graham & Co. is still very active in the Jacksonville market, owning and managing three buildings at a total of a half million square feet.

Those buildings are First Coast Distribution Center, Bayberry Industrial Park and 6800 Southpoint Parkway Center.

[ Read article at bizjournals.com]


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]



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