2026
BIRMINGHAM
Q1 2026 Birmingham Market Report
Market stats based on a specific set of tracked properties for Industrial and Office sectors.
Industrial Occupancy
91.3%
19.5M SF tracked market
Industrial Vancancy
1,706,600 SF
Office Occupancy
79.9%
17.6M SF across 5 submarkets
Office Absorption
121,711 SF
Net positive Q1 2026
Industrial Market Overview
19,529,769 SF across 5 submarkets | 91.3% occupied
Occupancy by Submarket
| Submarket | Total SF | Vacant SF | Occupancy |
|---|---|---|---|
| Central | 4,865,604 | 273,535 | 94.4% |
| East | 2,310,356 | 149,240 | 93.5% |
| South | 4,293,985 | 342,170 | 92.0% |
| Oxmoor | 4,506,766 | 526,522 | 88.3% |
| Southwest | 3,553,058 | 415,133 | 87.4% |
| Total | 19,529,769 | 1,706,600 | 91.3% |
Central
Total SF4,865,604
Vacancy5.6%
Bulk Occupancy94.0%
Office/Whse Occ.96.0%
Service Ctr Occ.100.0%
East
Total SF2,310,356
Vacancy6.5%
Bulk Occupancy94.4%
Office/Whse Occ.86.0%
South
Total SF4,293,985
Vacancy8.0%
Bulk Occupancy90.0%
Office/Whse Occ.94.0%
Service Ctr Occ.97.0%
Oxmoor
Total SF4,506,766
Vacancy11.7%
Bulk Occupancy87.1%
Office/Whse Occ.95.0%
Service Ctr Occ.89.3%
Southwest
Total SF3,553,058
Vacancy11.7%
Bulk Occupancy87.6%
Office/Whse Occ.97.0%
Inventory by Product Type
Office Market Overview
17,606,165 SF across 5 submarkets — 79.9% occupied
Occupancy by Submarket
| Submarket | Vacancy Rate | Avg. Quoted Rate | Q1 Absorption |
|---|---|---|---|
| Highway 280/I-459 | 26.1% | $22.90 | 137,822 SF |
| CBD/Downtown | 23.6% | $23.11 | 17,076 SF |
| Vulcan/Oxmoor | 23.0% | $17.53 | (34,827) SF |
| Southern | 19.2% | $20.46 | (40,679) SF |
| Midtown | 8.9% | $28.24 | 42,319 SF |
| Overall Market | 20.1% | $23.59 | 121,711 SF |
Highway 280/I-459
Vacant SF1,311,397
Vacancy Rate26.1%
Q1 Absorption+137,822 SF
Avg. Rate$22.90/SF
CBD/Downtown
Vacant SF1,131,469
Vacancy Rate23.6%
Q1 Absorption+17,076 SF
Avg. Rate$23.11/SF
Midtown
Vacant SF386,855
Vacancy Rate8.9%
Q1 Absorption+42,319 SF
Avg. Rate$28.24/SF
Southern
Vacant SF404,042
Vacancy Rate19.2%
Q1 Absorption(40,679) SF
Avg. Rate$20.46/SF
Vulcan/Oxmoor
Vacant SF301,740
Vacancy Rate23.0%
Q1 Absorption(34,827) SF
Avg. Rate$17.53/SF
Average Quoted Rate by Submarket ($/SF)
Selected Transactions
Q1 2026 — $86.6M in total transaction value
Sold
Cross Dock Distribution Center
3101 Anderson Rd, Opelika, AL 36801
702,689 SF
$52,696,725
Ogden Deaton, sior · John Coleman, sior
Represented: Seller
Leased
Moody Distribution Warehouse
2415 US Highway 78, Ste. 200, Moody, AL 35004
142,026 SF
$4,244,107
John Coleman, sior · Ogden Deaton, sior
Represented: Landlord
Leased
CenterState Logistics Lease
225 Daniel Payne Drive, Birmingham, AL 35207
55,620 SF
$2,403,618
John Coleman, sior
Represented: Tenant
Sold
Rail Served Warehouse
2601 Commerce Blvd, Birmingham, AL 35210
49,000 SF
$2,142,500
Ogden Deaton, sior · Jordan Tubb, sior
Represented: Seller & Buyer
Leased
BN Industrial Park
2700 13th Street, Suite A & C, Birmingham, AL 35208
40,000 SF
$591,904
Ogden Deaton, sior
Represented: Landlord
Sold
Clear Span Warehouse
2120 Montevallo Road SW, Birmingham, AL 35211
31,000 SF
$1,475,000
Sonny Culp, sior · Sam Carroll, sior
Represented: Buyer & Seller
Leased
Midtown Office Lease
2501 20th Place S, Suites 200 & 250, Birmingham, AL 35223
28,675 SF
$10,267,227
Sam Carroll, sior · Matt Gilchrist, sior
Represented: Tenant
Leased
CBD Office Lease
1801 5th Avenue N, Suites 400 & 500, Birmingham, AL 35203
22,852 SF
$3,748,871
Dan Lovell, sior, leed ap
Represented: Tenant
Leased
880 Montclair Lease
880 Montclair Road, Birmingham, AL 35213
18,817 SF
$3,230,566
Dan Lovell, sior, leed ap · Sam Carroll, sior · Matt Gilchrist, sior
Represented: Tenant
Sold
Irondale Land
1851 John Rogers Drive, Birmingham, AL 35210
32 Acres
$2,874,000
Sam Carroll, sior · Matt Gilchrist, sior
Represented: Buyer
Leased
UAB St. Vincent's East Medical Center
52 Medical Park Drive E, Suite 101, Birmingham, AL 35235
8,441 SF
$2,771,715
Jerry Grant, ccim
Represented: Landlord
Sold
Mt. Laurel Commercial Lot
Dunnavant Valley Road, Birmingham, AL 35242
0.32 Acre
$167,268
Bo Grisham · Dan Lovell, sior, leed ap
Represented: Seller
