A building in the Highpoint Office Center in Vestavia has a new owner.
Mountaintop Holdings sold the Chambers building to affiliates of Engel Realty Co. for $2.7 million, or more than $75 per square foot.
The selling entity is a holding company for Mountaintop Community Church, which is located across Centerview Drive from the property. The entity had acquired the property from Southmark Properties LLC in 2006.
The purchasing entities were Chambers Vestavia LLC and BLE Brighton LLC in the deal, which closed May 14. CommerceOne Bank in Birmingham provided $2.675 million in financing for the deal, according to public records.
Engel Realty is managing and leasing the two-story, multi-tenant building, which is about 34,800 square feet. The firm is planning some cosmetic improvements to the property, including new paint, upgrades to the landscaping and parking lot as well as renovations of the interior.
“We want to continue the momentum that that building has been experiencing,” said Stephen Butler, senior executive vice president at Engel Realty. “It’s got good occupancy and a good tenant mix.”
Built in the 1980s, the Chambers building is one of four in the Highpoint Office Center, which includes the Shelby, Walker and Barbour buildings. Engel Realty leases Shelby and Walker.
Leasing remains strong in Birmingham and several high-profile properties downtown have changed hands, signaling a bullish investor interest in the local office market.
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