2021 Graham Office Market Survey

It is challenging to look back at 2020 without referring to it as the “Year of the Pandemic”. With that said, Birmingham’s office market experienced healthy activity levels.

The overall market held occupancy to 85.04%, and the overall rental rate increased to $20.46 psf. The trend of large office sales slowed in 2020 with only 2 large assets trading. Colonial Plaza, 107,192 sf in the CBD, sold for $8,200,000 ($41.59 psf) and the BB&T Bank Building, 122,626 sf in Midtown, sold for $22,500,000 ($183.48 psf).