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source – al.com
BIRMINGHAM, Alabama — Sales completed by Birmingham’s Graham & Co. during July had a combined value of nearly $9.6 million, as activity in the commercial real estate market continues at a fairly steady pace.
While the market is still inconsistent, in terms of activity translating into deals, there’s a building positive momentum in that area, said Ogden Deaton, senior vice president for Graham.
“More and more people are starting to pull the trigger and move forward,” he said.
Among Graham’s key deals last month was the sale of a 20,529-square-foot Class A office building at 4527 Southlake Parkway in Riverchase. Sam Carroll represented the seller, and Deaton represented the buyer.
The Kapar building at 3512 Old Montgomery Highway also sold. Dan Lovell represented the seller of the 10,000-square-foot Homewood office building, while EGS Commercial Real Estate Inc. represented the buyer.
Other sales included a CSX rail-served industrial facility in Chelsea that covers 15 acres and includes a 48,000-square-foot warehouse. Jordan Tubb represented the seller, and Deaton represented the buyer, Builders First Source.
Another rail-served industrial facility, this one covering 87,190 square feet on 14 acres at 140 Goodrich Drive, also sold. Deaton represented the seller, Silgan Manufacturing, while Jack Brown represented the buyer, Waste Pro.
Deaton cited low interest rates and decent values as two factors driving the transactions. Also, some buyers have been studying their options for a while, and now they’re realizing it might be their last chance to take advantage of a good opportunity.
“All those things, in my mind, certainly seem to be moving toward a better overall market,” he said.
Meanwhile, there is some hesitation because of the November elections, but other businesses are moving forward despite that uncertainty.
“We have a couple of different folks vying for the same facility,” Deaton said. “We haven’t seen that for awhile.”
Graham’s other notable deals in July included the sale of the partially developed Hearthstone subdivision in McCalla to a local investor. Mike Lawley represented the seller, and Southpace Properties represented the buyer.
Jack Brown was involved in the following deals:
Represented Conzelman & Associates as the buyer of the 3,855-square-foot Bloom Building at 2518 18th St. South in Homewood. Plott & Co. represented the seller.
Represented the investor in its purchase of a 10,000-square-foot vacant industrial building at 5621 Shirley Park Drive in Bessemer. Southpace Properties represented the seller.
Represented the purchaser of a 24,710-square-foot industrial facility at 109 Citation Court in Homewood. EGS Commercial Real Estate represented the seller.
Graham’s July deals also included out-of-town transactions:
Walter Brown sold a 25,757-square-foot medical office building in Anniston at 818 Leighton Ave. Keller Williams Realty Group represented the purchaser.
And in Panama City, Fla., Michael Lawley brokered the sale of 53 acres of commercial property at Front Beach Road and Thomas Drive.
[/fusion_builder_column][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][ Read article at al.com ][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]