Featured Property: Historic Enslen House

This week’s featured property is the historic Enslen House located at 2737 Highland Avenue South in the Highland Park neighborhood of downtown Birmingham across from Rhodes Park. The 8,274 square foot marble-clad building that once stood as the former Birmingham banker Eugene F. Enslen’s home has since been remodeled into an office space and has served as the Trimmier Law Office most recently. In 1995, conduit was run throughout the building. The property features small suites available for lease, a commercial elevator, 4 onsite parking spaces and abundant street parking. It would make an excellent space for a professional services firm or event space.

The charming Highland Park neighborhood is conveniently located less than two miles south of downtown Birmingham nestled into the base of Red Mountain. The community is home to three parks, the Virginia Samford Theatre, and many historic properties such as the Enslen House. Well-loved restaurants such as Bottega, Moe’s BBQ, Babalu, and Rojo are all within walking distance.

If you’re interested in being a part of this wonderful community, contact Andrew Loveman, CCIM at 205-326-2222.

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August Completed Deals

From being a part of upcoming developments to client market expansion, Southpace brokers closed a lot of exciting deals in August! Read on to learn about the details of this past month’s deals.

Michael Randman represented the owner in the selling of the former Aqua Night Club at 2824 5th Ave South for $1,250,000. The property is comprised of 24,500 ± total square feet with multiple buildings and will be redeveloped as an upscale bar/restaurant in the rapidly growing Lakeview District.

David Ashford, CCIM and Alex Benson represented the landlord at Lee Branch II in the leasing of 1,200 square feet of space to Farmer’s Insurance.

Greg Despinakis and David Ashford, CCIM represented the landlord in the renewal of the Stella Blue at Mountain BrookVillage.

Blake Crowe, CCIM represented Home Mortgage of American in the leasing of 8,000 square feet at International Park in Birmingham.

Bryan Holt, CCIM represented ATI Physical Therapy in their leasing two new locations – 1,800 square feet of space at 1877 Cherokee Ave, Cullman, AL and 2,499 square feet at 550 Fieldstown Road, Gardendale, AL.

Andrew Loveman, CCIM represented the landlord in the retail lease of 1,200 square feet at the Village in Pinson.

Bill McDavid, CCIM and Alex Benson represented the owner in an industrial sale at 2760 Pawnee Road.

Steve Mordecai, CCIM and Bill McDavid, CCIM represented the owner in the selling of 38 lots at Cottages at Beaver Creek.

Rich Vanchina, CCIM, SIOR assisted in the renewal of an industrial lease for Unkanny Productions at Continental Gin Industrial Park. He also renewed a lease for Apex Architectural Metals at 3033 35th Avenue North.

Southpace Properties, Inc. is Alabama’s largest independent commercial real estate firm. At Southpace, we add value to the use and ownership of commercial real estate through services such as office, retail, land, warehouse and industrial sales and leasing, tenant and landlord representation, development, consulting, investment sales, property management, and construction management. With 13 CCIM designees, Southpace has the highest number of CCIM accredited brokers in the Southeast under one roof.

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Meet Our Newest Addition At Southpace!

Elizabeth Miles has joined Southpace’s Property Management division as PropertyAdministrator. She will be responsible for lease and tenant administrative services and will work closely with the property managers and maintenance staff.

Elizabeth graduated from the University of Alabama in May of 2017 with a Bachelor’s Degree in Accounting and specialization in Real Estate. While in school, Elizabeth served on the executive committee for the Culverhouse Real Estate program. She was also an instructor for the Culverhouse School of Accountancy LIFT program. In her free time Elizabeth enjoys checking out Birmingham’s newest restaurants and hanging out with her friends and family.

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Why You Need A Commercial Real Estate Broker

Whether you are a seller or a buyer in commercial real estate, it’s important that you have the best people on your team to get the most out of the deal. Cue a well-qualified commercial real estate broker. We’ve come up with a few things we think are critical qualifications for brokers to possess and for you to look for when making your decision on who to bring onto your team.

  1. Experience

As in any profession, experience is a valuable thing to uphold in commercial real estate. An experienced broker will save you time and money by prospecting, utilizing his/her contacts and connections, and negotiating the best terms. Well-qualified brokers also typically specialize in a specific sector of commercial real estate such as retail, office, industrial, or land so that they can best direct their expertise.

  1. Market Knowledge

It’s one thing to “know a market” and it’s another to “understand a market.” A valuable broker knows where a market has been and where it’s going. A broker should be in the market frequently learning of recent closings, property history, upcoming developments, renovations, etc. Who owns this property or that piece of land? What did that space just lease for? This sort of knowledge means that the broker can optimize the deal for you whether he/she is suggesting a listing price or finding the right tenant.

  1. Accreditations/continuing education

The commercial real estate industry is ever evolving and continued education is crucial for keeping up with the latest trends. Brokers are not required to obtain accreditations so the individuals who have taken the initiative to pursue any of them shows that he/she knows the importance of always gaining new knowledge. There are many designations within the industry that brokers can pursue- some more specialized than others. One that stands out amongst the entire industry is the CCIM, which stands for “Certified Commercial Investment Member.” This certification is one of the most difficult to obtain with hours of in-depth market and financial analysis coursework and a required portfolio of completed deals proving the individual’s expertise. At Southpace, we are proud to have 13 CCIM members under our roof (that’s the most of any firm in Alabama) and to have our own training course for our younger brokers- the Southpace Learning Series. Check it out here.

A commercial real estate broker can save you time, money, and give you peace of mind through the buying and selling process. At Southpace, you will be represented with years of continued experience and passion for this community. When you’re ready to invest in a new property or sell your current one, contact us.

 

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Featured Property: 1101 20th Street South

Our featured property this week is the former Fuego Cantina & Saloon building in the heart of the historic Five Points South. Located at the corner of 20th Street South and 11th Ave South, this property is in a prime location for the next up-and-coming restaurant or retail opportunity. The property is comprised of 3,858 square feet of building space and 600 square feet of patio space.

Five Points South is a “melting pot” offering fine dining, entertainment, and hospitality within Birmingham’s Southside. The neighborhood is home to over 40 culinary destinations, including the highly acclaimed Highlands Bar & Grill, Chez Fonfon, Bottega, and Ocean, as well as over 30 retailers. It is conveniently located directly off the Red Mountain Expressway and within walking distance to UAB’s campus.

The Five Points South community is seeing a lot of exciting new developments and remastering as the downtown Birmingham revival expands South of University Boulevard. Vesta,  a new 17-story upscale apartment development, is scheduled to break ground in the mid-August and is anticipated to encompass the live, work, play model within the community.

There’s a lot going on within this gem of a community! If you’re interested in leasing this property and being a part of the Five Points South neighborhood contact David Ashford, CCIM or Blake Thomas at 205-326-2222 today!

 


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Southpace Brokers’ Completed Transactions in July

Our brokers’ deals this month are as hot as the Alabama weather in July! Check out their completed transactions below.

David Ashford, CCIM represented the landlord in the leasing of 2,370 square feet of space to Sax Hair Design in Homewood.

The Steiner Building

Blake Crowe, CCIM leased 2,240 square feet of space to Marcus & Millichap at the Steiner Building downtown.

Julie Gieger, CCIM and Michael Randman assisted The Nest in their renewal of 1,600 square feet in the Avondale Bricks building.

Bryan Holt, CCIM represented Milo’s in their 1 acre ground lease in Cullman. Holt also represented ATI Physical Therapy in their lease of 1,800 square feet in Homestead Village in Trussville.

Andrew Loveman, CCIM represented Shooks in the leasing of 1,545 square feet of restaurant space in the Heritage Center in Trussville.

Michael Perry represented the owner in the sale of the final unit of a 70-unit single family rental portfolio.  The total transaction is valued at $5,400,000.

Joseph Sedita represented the purchaser in the acquisition of a 3,500 SF building at 1608 3rd Ave North.

Rich Vanchina, CCIM, SIOR renewed an industrial lease for Championship Enterprise at 1520 Simmsville Road. He also leased Suite 800, 1,000, and 1,100 for a total of 10,940 square feet.

 

Southpace Properties, Inc. is Alabama’s largest independent commercial real estate firm. At Southpace, we add value to the use and ownership of commercial real estate through services such as office, retail, land, warehouse and industrial sales and leasing, tenant and landlord representation, development, consulting, investment sales, property management and construction management. With 13 CCIM designees, Southpace has the highest number of CCIM accredited brokers in the Southeast under one roof.

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Southpace Welcomes Four New Employees

BIRMINGHAM, Ala. July 14, 2017—Southpace Properties, Inc. today announced four new hires to their brokerage division.

Stephanie Hill has joined Southpace Properties as Client Services Administrator. Hill will be promoting and maintaining the overall appearance of the company while working closely with the retail, office, industrial, multi-family and investment properties. Additionally, Hill’s responsibilities include marketing strategies/research, social media management, and software administration for Southpace Properties, Inc. and Southpace Management, Inc.

Hill will graduate from the University of Alabama at Birmingham with a Bachelor’s degree in Marketing and a concentration in Marketing Management in 2017. Previously, Hill interned with Southpace Management, Inc in 2016 where she worked on lease audits and other Property Management tasks.

 

Templeton Stump has recently joined Southpace Properties as an Associate Broker.

Stump will provide tenant and landlord representation on office and industrial properties, including both sales and leasing activities. Additionally, Stump will use market knowledge to give clients the best option in the acquisition or disposition of their real estate.

Stump graduated from Birmingham Southern College in 2013 with a Bachelors degree inBusiness Administration. Previously, Stump has worked for Urban Grout Commercial Real Estate in Nashville, TN. Stump brings with him in-depth market research and analytical skills. Stump is pursuing his CCIM designation, which is the Certified Commercial Investment Member, and has completed the institute’s introductory course thus far.

 

Sam Centeno has also joined Southpace as Client Coordinator working in the retail division. Centeno will provide tenant and landlord representation on retail properties, including both sales and leasing activity. In addition, Centeno will use market knowledge to give clients the best option in the acquisition or disposition of their real estate.

Centeno received his Bachelor’s degree in Finance with a concentration in Real Estate from the University of Alabama in 2017. Centeno brings with him experience from interning with r360, LLC in which he focused on market research, canvassing, and site selection.

 

 

Shepard Ager has joined Southpace as an Associate Broker. He will provide tenant and landlord representation on office and industrial properties, including both sales and leasing activity. Ager will use market knowledge to give clients the best option in the acquisition or disposition of their real estate.

Ager graduated from The University of Mississippi in 2011 with a Bachelors of Business Administration in Marketing degree. Prior to joining Southpace, Ager worked with a third-party logistics company where worked closely with hundreds of trucking companies all over the country brokering freight. Ager has also completed CI 101, which is the Certified Commercial Investment Member (CCIM) Institute’s introductory course and will continue pursuing his CCIM designation.

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Southpace Brokers Complete Over $11 Million in Local Transactions During the Month of June

John Lauriello, CCIM, SIOR, CPM sold and closed the Classic Wine Building located at 1920, 29th Avenue South in Homewood, Alabama to an investor for $2,400,000. Classic Wine will remain in the building for another 60-90 days and then relocate. The new owner/investor plans on renovating the building for a restaurant tenant.

Rich Vanchina, CCIM, SIOR and Bill McDavid, CCIM sold an office warehouse property at 5520 Eastcliff Industrial Boulevard to Johnson Battery out of
Atlanta. It was a 17,000 square foot building on 2.75 acres.

Bryan Holt, CCIM, CLS represented the buyer in the purchasing of a Hardee’s in Prattville, AL. Holt also represented Great Clips in its closing on a 1,400 square foot Saraland location. He represented ATI Physical Therapy in the leasing of 2,499 square feet in Gardendale.

Blake Crowe, CCIM aided McGlinchey Stafford law office in an office lease expansion totaling 2,089 square feet in the month of June. Crowe also represented the landlord in an office lease renewal at 2101 Highland Avenue with a total of 12,455 square feet as well as a 5,000 square feet lease renewal inside the Wells Fargo Tower.

Blake Thomas represented Which Wich Superior Sandwiches for their new location at the up and coming residential and mixed-use development The Waites Apartments in downtown Birmingham.

David Ashford, CCIM and Alex Benson represented the landlord in the lease of a 1,847 square foot space in Pinebrook Shopping Center in Mobile, AL to a chiropractor. Ashford also represented the landlord in a 1,900 square foot lease in Trussville Promenade I as well as a 5,115 square foot space in Whole Foods Market Place in Hoover for Market House Boutique. He represented the landlord in Galleria Trace Plaza in the lease of 1,440 square foot for UpTech Computer.

Andrew Loveman, CCIM and David Ashford, CCIM represented the landlord in the leasing of 1,200 square feet in Anchi Plaza to Boost Mobile.

Troy Gisi represented the seller of a 3,700 square foot retail/office building at 5800 Oporto Madrid Blvd South in Birmingham, AL.

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Southpace Kicks Off Training Series for The Company’s Newest Brokers

SLS Graphic

Southpace Properties is excited to announce the return of the Southpace Learning Series. This unique training program with weekly classes and directed work projects is designed to strengthen the development of our newest team members: Shepard Ager, Templeton Stump, Sam Centeno, and Stephanie Hill.

Experienced Southpace brokers work with leading subject-matter experts from around the industry to teach the classes and provide real world applications. Each week, our young brokers apply what they are learning through assignments that pair them with our senior brokers on work projects directly related to ongoing client initiatives.

“Only the largest international brokerage firms have adequate training programs for new brokers. You don’t see this in mid-sized firms in tertiary markets. Great talent slips through the cracks simply for a lack of structure and direction. We have developed our program with the help of our partners in the Retail Brokers Network and we believe it to be unique within the state and possibly the Southeast Region.” said Bryan Holt, CCIM Principal at Southpace Properties.

We would like to thank our presenters from weeks one and two; Rob Samtmann, Principal at Equity Retail Brokers and fellow member of the Retail Brokers Network and Tyler Bradford, Vice President of Real Estate at Books-A-Million. Mr. Samtmann kicked off our series discussing best practices in retail brokerage. Mr. Bradford showed us how the real estate department at BAM is using technology to aid in the site selection and evaluation process.

If you have any inquiries about the Southpace Learning Series, please contact Stephanie Hill at SHill@southpace.com.

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Deal Spotlight: John Lauriello & Blake Crowe Represent City of Vestavia Hills in Gold’s Gym Building Purchase

Gold's GymJohn Lauriello and Blake Crowe represented the City of Vestavia Hills in purchasing the Gold’s Gym Building in Highway 31 in Vestavia Hills. The total sales price was $9,100,000 and closed on May 31, 2017. Gold’s Gym occupies approximately 53,000  SF of the building and there is approximately 10,000 Sf available. The City will occupy the 10,000 SF vacant suite in the near future and have options for the larger block of space Gold’s Gym occupies if Gold’s chooses to vacate the property at the end of their lease in 2021. Gold’s does have renewal options that they can exercise if the desire to at the end of their lease term.

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