2026
BIRMINGHAM
Q3 2026 Birmingham Market Report
Market stats based on a specific set of tracked properties for Industrial and Office sectors.
Industrial Occupancy
90.0%
19.6M SF tracked market
Industrial Vacancy
1,957,592 SF
Office Occupancy
80.1%
17.6M SF across 5 submarkets
Office Absorption
+58,619 SF
Net positive Q3 2026
Industrial Market Overview
19,629,625 SF across 5 submarkets | 90.0% occupied
Occupancy by Submarket
| Submarket | Total SF | Vacant SF | Sublease | Occupancy |
|---|---|---|---|---|
| Central | 4,865,414 | 563,539 | 39,375 | 88.4% |
| East | 2,310,356 | 162,940 | 8,750 | 92.9% |
| South | 4,394,031 | 359,243 | 128,800 | 91.8% |
| Oxmoor | 4,506,766 | 565,802 | 232,103 | 87.4% |
| Southwest | 3,553,058 | 306,068 | 91.4% | |
| Total | 19,629,625 | 1,957,592 | 448,403 | 90.0% |
Central
Total SF4,865,414
Vacancy11.6%
Bulk Occupancy86.9%
Office/Whse Occ.99.1%
Service Ctr Occ.100.0%
East
Total SF2,310,356
Vacancy7.1%
Bulk Occupancy92.6%
Office/Whse Occ.96.3%
South
Total SF4,394,031
Vacancy8.2%
Bulk Occupancy90.6%
Office/Whse Occ.92.1%
Service Ctr Occ.97.2%
Oxmoor
Total SF4,506,766
Vacancy12.6%
Bulk Occupancy85.1%
Office/Whse Occ.96.2%
Service Ctr Occ.92.8%
Southwest
Total SF3,553,058
Vacancy8.6%
Bulk Occupancy91.0%
Office/Whse Occ.95.5%
Quoted Rental Rates ($/SF)
| Product Type | Range | Average |
|---|---|---|
| Bulk Distribution | $4.50 – $10.00 | $6.99 |
| Office Warehouse | $6.50 – $13.00 | $9.81 |
| Service Center | $8.00 – $15.00 | $10.87 |
Inventory by Product Type
Office Market Overview
17,606,165 SF across 5 submarkets — 80.1% occupied
Occupancy by Submarket
| Submarket | Vacancy Rate | Avg. Quoted Rate | Q3 Absorption |
|---|---|---|---|
| Highway 280/I-459 | 24.3% | $23.39 | 69,372 SF |
| CBD/Downtown | 24.1% | $23.04 | (7,191) SF |
| Midtown | 7.5% | $28.70 | 27,607 SF |
| Southern | 23.6% | $20.58 | (10,155) SF |
| Vulcan/Oxmoor | 22.6% | $17.72 | (21,014) SF |
| Overall Market | 19.9% | $23.85 | 58,619 SF |
Highway 280/I-459
Vacant SF1,222,261
Vacancy Rate24.3%
Q3 Absorption+69,372 SF
Avg. Rate$23.39/SF
CBD/Downtown
Vacant SF1,155,854
Vacancy Rate24.1%
Q3 Absorption(7,191) SF
Avg. Rate$23.04/SF
Midtown
Vacant SF328,421
Vacancy Rate7.5%
Q3 Absorption+27,607 SF
Avg. Rate$28.70/SF
Southern
Vacant SF497,591
Vacancy Rate23.6%
Q3 Absorption(10,155) SF
Avg. Rate$20.58/SF
Vulcan/Oxmoor
Vacant SF296,696
Vacancy Rate22.6%
Q3 Absorption(21,014) SF
Avg. Rate$17.72/SF
Average Quoted Rate by Submarket ($/SF)
Selected Transactions
Q3 2026 — Highlighted Transactions · $93.9M+ in transaction value
Sold
Freestanding Riverchase Building
4 Riverchase Ridge, Birmingham, AL 35244
9,962 SF
Sam Carroll, sior · Matt Gilchrist, sior
Represented: Seller
Sold
Crestwood Blvd. Land
2000 Crestwood Blvd., Irondale, AL 35210
2 Acres
Bo Grisham
Represented: Purchaser
Leased
Lakeshore Park Plaza
2204 Lakeshore Drive, Ste. 214-219, Birmingham, AL 35209
9,249 SF
Jerry Grant, ccim
Represented: Landlord
Leased
Synovus Center
800 Shades Creek Parkway, Ste. 550, Birmingham, AL 35209
9,784 SF
Charles Simpson
Represented: Landlord
Sold
Former ICC Corporate Office
900 Montclair Road, Birmingham, AL 35213
20,320 SF
Dan Lovell, sior, leed ap · Matt Gilchrist, sior
Represented: Seller
Sold
Auburn Bank Building
2085 E University Dr., Auburn, AL 36830
4,532 SF
Matt Gilchrist, sior · Sam Carroll, sior
Represented: Seller
Sold
Former World Business Center
500 Beacon Parkway W., Birmingham, AL 35209
30,520 SF
Ogden Deaton, sior
Represented: Purchaser
Sold
Hyundai MOBIS Distribution Center
1169 Mitchell Young Road, Montgomery, AL 36108
459,680 SF
Sonny Culp, sior
Represented: Seller
Leased
CBD Distribution Facility
3501 1st Avenue N., Birmingham, AL 35203
31,620 SF
Jordan Tubb, sior
Represented: Tenant
Sold
Cold Storage Distribution Facility
2400 Highway 280, Harpersville, AL 35078
110,299 SF
Sam Carroll, sior · Matt Gilchrist, sior
Represented: Seller
Sold
Bessemer Manufacturing Facility
1090 & 1100 Industrial Blvd., Bessemer, AL 35022
265,996 SF
Ogden Deaton, sior · John Coleman, sior
Represented: Seller & Purchaser
Leased
Irondale Warehouse
2501 1st Avenue South, Irondale, AL 35210
16,340 SF
Jack Brown, sior · Jordan Tubb, sior
Represented: Landlord
Sold
Freestanding Office/Warehouse
2401 24th Street North, Birmingham, AL 35234
33,000 SF
John Coleman, sior
Represented: Seller
Leased
Oxmoor Valley Industrial Campus
144 Industrial Drive, Birmingham, AL 35211
67,480 SF
Jordan Tubb, sior · John Coleman, sior
Represented: Landlord
Leased
The Distribution Center
200 West Oxmoor Road, Ste. 166-178, Birmingham, AL 35209
26,250 SF
Jordan Tubb, sior
Represented: Landlord
