2020 Graham Office Market Survey

[fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=””][fusion_builder_row][fusion_builder_column type=”2_3″ layout=”2_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_title hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” content_align=”left” size=”1″ font_size=”” line_height=”” letter_spacing=”” margin_top=”” margin_bottom=”” text_color=”” style_type=”default” sep_color=””]

2020 Graham Office Market Survey

[/fusion_title][fusion_text columns=”1″ column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]

Birmingham’s Office Market had another active year with overall occupancy of 87%, and the overall rental rate increasing to $20.14, up 0.84% from the previous year. Three of Birmingham’s five office submarkets, CBD, Midtown, and Vulcan/Oxmoor posted positive absorption and an uptick in rental rates.

There was a continued trend for large office product trading with 16 sales greater than 25,000 sf, representing more than $189 million in transaction values. The largest sale transaction of the year was in Liberty Park, a 200,000 sf office building fully leased to Encompass Health which offered 10 plus years remaining on its lease at the time it traded. The sale price was an impressive $372.50 psf. 2019 saw several other class-A buildings trade including Lakeshore Park Plaza in the Midtown submarket, 1800 & 1900 International Park in the Highway 280/I-459 submarket, and the Land Title Building in the CBD, continuing a trend of class-A office sales the Birmingham market has experienced during the last several years.

[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_imageframe image_id=”23067|large” max_width=”” style_type=”” blur=”” stylecolor=”” hover_type=”liftup” bordersize=”” bordercolor=”” borderradius=”” align=”none” lightbox=”no” gallery_id=”” lightbox_image=”” lightbox_image_id=”” alt=”” link=”https://www.grahamcompany.com/wp-content/uploads/graham-report-archive/BHM_graham_report_office_2020.pdf” linktarget=”_blank” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]https://www.grahamcompany.com/wp-content/uploads/2020/03/OMS2020_Page_01-791×1024.jpg[/fusion_imageframe][fusion_button link=”https://www.grahamcompany.com/wp-content/uploads/graham-report-archive/BHM_graham_report_office_2020.pdf” text_transform=”” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”green” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”” stretch=”default” shape=”” icon=”fa-download fas” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]Download the Graham Office Market Survey[/fusion_button][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]