Graham&Co Sells Parts Sequencing Warehouse Leased to Mercedes Benz for $51.7 Million
BIRMINGHAM, January 31, 2022 – Birmingham-based Graham & Company has successfully completed the disposition of a 530,000 square foot Class-A distribution center to Monmouth Real Estate Investment Corporation (NYSE:MNR). Situated on approximately 53.5 acres in Vance, AL, the facility is fully leased to Mercedes Benz US International, Inc (MBUSI) and will serve as a storage and sequencing facility for vehicle parts supporting Mercedes’ expansion into the production of Electric Vehicles (EVs) at the Vance plant.
More than 15 years ago, Graham&Co helped deliver a similar sized build-to-suit project for MBUSI. “Our brokerage team saw the potential in cultivating industrial sites with just-in-time proximity to the Vance plant. That foresight and expertise has now allowed Graham&Co to deliver more than 1.2 million square feet across three different build-to-suit industrial projects within 1 mile of the main entrance to the Vance MBUSI plant,” said Henry V. Graham II.
There has been no greater driving force behind the demand for and construction of industrial real estate in the state of Alabama than the automotive industry. Graham&Co is honored to have played a key role a second time helping MBUSI lead this charge by delivering the new EV sequencing facility on-time and on-budget despite the market uncertainties and construction supply chain disruptions attributable to the COVID-19 pandemic over the last 18 months.
The project was completed for Mercedes using a local team of experts in industrial real estate, construction, design and finance. Graham & Company, LLC served as developer for the project. Cooper Construction and Five South Architecture, LLC served as the project’s design/build team. CCI served as the civil engineering firm and the Birmingham office of ECS assisted with geotechnical engineering and materials testing. Financing was provided by First Horizon Bank’s Birmingham branch and Compton Jones Dresher along with Bradley Arrant served as legal counsel.
About Graham & Company
Founded in 1978, Graham & Company is a full-service commercial real estate firm with offices in Birmingham, Huntsville, and Panama City, Florida. Graham offers investment sales, leasing, property management, and development services.
Graham & Company has been involved in the development and management of industrial properties, office buildings, office/service centers, and office rehabilitation projects throughout the Southeast. Over the last 20 years, Graham & Company has delivered more than 10 million SF of build-to-suit and speculative industrial and office projects.
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