Local investment firm, Freedom Four LLC has acquired Lakeview’s Nail’s Convenience Store and Crosstown Scooters.

Local start up entrepreneur, Glenn Drennen, purchased the vacant gas station building in August 2019 and reopened the business under his trademark gas station brand, Nail’s. During the pandemic downturn, Drennen also added Crosstown Scooters, a scooter rental business providing motorized scooter rentals for use throughout the city. After generating over $1 Million in annual revenues, and in need of equity to deploy into other projects, the time was right to sell to new owners.  Jared Sluss and Zach Steed hope to continue to build upon the momentum started by Drennen in developing the property and growing the businesses in Lakeview. With assistance from John Coleman, SIOR of Graham & Company and Bradley Arant Boult Cummings LLP serving as legal counsel to the Seller, the transaction closed August 31^st.

The new owners, Jared Sluss and Zach Steed, said they hope to continue to build upon the momentum started by Drennen in developing the property and growing the businesses in Lakeview.

Graham & Company, the Birmingham, Alabama based commercial real estate services and development company, recently closed on the acquisition of 21 acres at W. 12^th Street and Edgewood Avenue, making way for a new, two building, 250,800 square foot warehouse/distribution development named “W. 12^th/Edgewood
Logistics Center.”  Slated for completion in late 2023, this project is a joint venture between Birmingham-based Graham Capital and a Jacksonville-based investor group led by Sam Easton.

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Matt Gilchrist with Graham & Co. represented White Arnold & Dowd PC.

White Arnold & Dowd PC plans to relocate its offices to Renasant Place by the end of the year and will occupy space on the 14th floor of the building at 2001 Park Place N.

“Relocating to Renasant Place will provide the firm with a unique work environment to better serve our clients as well as a space that is inviting to lawyers and our legal support staff,” said Augusta S. Dowd, managing lawyer of the firm.

White Arnold & Dowd is currently located at 2025 Third Ave. N. in the Massey Building, a historic downtown office building that is also undergoing a renovation.

The firm is taking advantage of previously improved space and creating a modern amenity-rich work environment for its staff and visitors. Their offices will also feature scenic Birmingham views.

“We are so excited to have such a high-caliber firm join us at Renasant Place,” Harbert Realty Executive Vice President West Harris said. “We believe a commitment from such a well-known and respected firm is a testament to the building and our improvements plans.”

[Read Article Here]

John Coleman, SIOR, represented the Landlord in this transaction.

A large materials handling equipment company is expanding its footprint into Alabama.

Wiese USA, which has served the material handling industry for more than 75 years, has opened a location at 2547 Commerce Circle in Birmingham.

Wiese is a Mitsubishi Logisnext Americas dealer and is currently a provider of Caterpillar, Jungheinrich and Mitsubishi in North America.

With its expanded territory, Wiese will now serve customers across 17 states and from more than 40 locations.

In addition to strengthening its fleet of material handling equipment and increasing business from the southern part of the United States, the company will boost access to a broader variety of trucks, including multiple truck classes, specialty equipped trucks and other material handling equipment. The company will also offer a broader range of services through additional locations, complementary networks and service offerings.

Graham & Co. agent Jordan Tubb, recently took part in brokering the lease of an 23,070 SF Oxmoor Warehouse. The lessee of this warehouse is a local floral design studio – HotHouse and a local wedding and event rental company – PropHouse, both owned by Mandy Majerick.

Illyshia Parker with the Birmingham Business Journal reported:

“The founder and creative director of two local businesses has acquired warehouse space located at Oxmoor South Industrial Park ahead with plans to expand.

PropHouse/HotHouse affiliate HotHouse Holdings Inc. recently acquired 23,070 square feet of bulk warehouse space located at 200 Oxmoor Court in Birmingham from Birmingham Industrial Enterprises LLC.

HotHouse is a local floral design studio and PropHouse is a wedding and event rental company. Both are locally owned and operated by Mandy Majerik. This transaction is part of the PropHouse/HotHouse expansion, and both businesses will continue to operate from the current headquarters nearby at 89 Robert Jemison Road.

“The new warehouse is welcomed with excitement from our delivery team as we have been anticipating the move for about six months. We are moving all of our receiving and distribution to the new Oxmoor warehouse,” Majerik said.

The new location triples the company’s warehouse size and includes six loading docks with a dedicated area for will-call clients. Majerik said they have recently added new employees to make the transition easier and accommodate more orders per week with a goal of raising delivery capacity to upwards of 25% more per week.

“We are planning exciting things to re-energize our current space to offer our clients more inspirational ideas and unique custom-build opportunities. This new Oxmoor opportunity will allow us to keep on our trajectory growth plan,” Majerik said.

Graham & Co. agent Jordan Tubb and Cushman & Wakefield / EGS Commercial Real Estate agent Brad Moffatt brokered the deal. Tubb, who represented the tenant in the deal, said this transaction is another example of how tight the industrial market is in Birmingham, especially in the Oxmoor submarket.

“We started negotiating for the space the day it hit the market. It was the only space available in this size range and we had been looking for three months,” Tubb said. “You find yourself competing for spaces as soon as they come available. You have to be ready to act when something comes to the market, or you may find yourself losing out on an opportunity. Rental rates for these type spaces have increased 15% to 20% over the last two years with landlords giving very little concessions.”

The company is expected to move into the new space in June with goal to open July 1. The current space located at 89 Robert Jemison Road will continue to be a showroom and house its sales team.”

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A huge congratulations to our very own Bart Smith, CCIM, SIOR for being presented with the President’s Cup at the Huntsville Market Symposium for the Tier 1 First Place CCIM Chapter in the Nation for 2021!!

The redevelopment of the former treetop facility, a family entertainment center, is underway after Jordan Tubb and John Coleman of Graham & Co. brokered the $1.5 million sale of the property.

Illyshia Parker, of the Birmingham Business Journal wrote,

“A former family entertainment center along the U.S. 280 corridor in Shelby County is being redeveloped by a well-known local developer and restauranteur.

Located at 1017 Dunnavant Valley Road, in Chelsea, the recently acquired property includes two sites including a go-kart track and a mini-golf course. Mike Mouron, chairman of Capstone Real Estate Investments LLC, and Nick Pihakis of Pihakis Restaurant Group plan to rebrand and redevelop the nearly 6-acre property to include a Rodney Scott’s BBQ, Little Donkey and Hero Doughnuts.

The former site of TreeTop Family Adventures in Chelsea was listed by Graham & Co. as a redevelopment opportunity until the property was acquired for $1.5 million a few weeks ago by Capstone EAT LLC, an affiliate of Capstone Real Estate Investments LLC. Jones Commercial Properties sold the former entertainment complex on April 15. Jordan Tubb and John Coleman of Graham & Co. brokered the deal.

The 18,500-square-foot main building sits on 4.7 acres of the first site and will include the three restaurants along with a large common bar area. The existing Little Donkey located on Highway 280 near Alabama Highway 119 will eventually relocate to the new development. A smaller building spanning 2,353 square feet will be home to Hero Doughnuts. The second site included in the sale is a 1.2-acre land plot adjacent to the first. The new development will also include an extensive outdoor gathering space.

“It not a food court per se, but depending upon if the people are sitting in the common area of the building or sitting outside, they can literally order from any of Nick’s food and beverage venues, and it will be delivered to them from whichever venue they order from. They’ll get just the one check,” Mouron said.

The property currently has around 200 parking spaces with additional spaces to be added with the new development.”

Read the full article here.

The Crossroads at Greystone property is being redeveloped and will include four new medical entities.

Andrews Sports Medicine and Orthopaedic Center, Skin Wellness Dermatology, AllerVie Health and Birmingham Orthodontics will all have locations in the existing buildings at the corner of U.S. 280 and Alabama 119.

The property was sold by the owners and represented by Dick Darden at First Sunbelt Properties and Bo Grisham of Graham and Co., said Stutts Everette, qualifying broker with Randall Commercial Group.

The primary participants in the sale, AllerVie Health, Skin Wellness Dermatology and Andrews Sports Medicine and Orthopaedic Center, were represented by Veritas Medical Real Estate Advisors.

Rich Campbell, principal of Veritas Medical Real Estate Advisors, said the three practices were looking for a space that was more visible, had more space and would give them a better opportunity to grow their businesses.

Skin Wellness Dermatology and AllerVie in Chelsea were both trying to reach and

help patients in the southern market, Campbell said.

“They both determined that they were missing patients in Greystone, that section of Birmingham and Hoover, that 280/119 crossroads,” Campbell said. “They were finding that those patients weren’t going south, but if they had the opportunity to move to that area, the Chelsea patients would come north.”

As a result, Campbell said, patients on Alabama 119, in Greystone, Inverness and Meadowbrook now have a closer specialist to see, whether it be dermatology or allergy services.

Andrews Sports Medicine already had an office on Alabama 119 in the St. Vincent’s campus but had little visibility, he said.

“When you’re on that campus, you’re in a building, you don’t have any visibility,” Campbell said. “They wanted the ability to have a little bit more of an accessible clinic and to have the ability to grow and add more services to what they were currently providing.”

Campbell said the three practices were looking for other locations at the same time. As the ‘group coordinator,’ Veritas was able to suggest they collectively come together to buy the property, which would give all companies a lower cost of occupancy.

“We told them we had run the numbers and they could maintain a lower cost of occupancy by getting all of them into a superior location and get the growth they need and desire,” Campbell said.

A representative for the property estimates that redevelopment will be complete by the end of 2022.

Graham & Co was recognized in 6 of the 23 “CRE Deals of the Year” for the year 2021, according to the Birmingham Business Journal.

These deals include:

Seller/Landlord’s Broker: Jerry Grant, Graham & Co.

Sale of 300 Riverchase Parkway East 

Location: 300 Riverchase Parkway E.

Value: $3.55 Million

Size: 27,204 Square Feet

Seller/Landlord’s Broker: Walter Brown and Matt Gilchrist of Graham & Co.

“The pandemic’s continued impact in 2021 wasn’t enough to stop major deals in Birmingham’s commercial real estate sector.

Deals ranged across all industries, whether it was multifamily homes, large company relocations, new leases signed, industrial parks and more. In addition, the crown jewel for Birmingham came in fall 2020 with the long-awaited Protective Stadium unveiling.

Commercial real estate projects in 2021 also spread across the metro. Deals dropped downtown and were found into the suburbs, including Irondale, McCalla and more.

In this special section, we are honoring the deals, projects, companies and people who embody the perseverance that was needed to get through the past two years of uncertainty.

Our CRE Deals of the Year winners were chosen based on nominations received at BBJ.com in late 2021 and early 2022. Winners were selected based on several factors, including the size of the deal, its potential for future impact, the complexity of the deal and the deal’s relationship to ongoing trends in the market.”

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