Featured Property: Historic Land Title Building

This week’s featured property is the historic Land Title Building located at 600 20th Street North in the heart of the Central Business District. The Land Title Building is for Sale. It has a total area of 30,000 plus square feet. There are also two suites available for lease, Suite 300 and Suite 400 with 6,525 square feet each. There is $50,000 in Tenant Improvement money for each suite. This location is one of the most prestigious addresses in downtown Birmingham, featuring fluted limestone Columns and Façade – a majestic exterior profile. Inside the Front entrance is a spacious Foyer with original Terrazzo floors, a Grand stairway and European marble that gives an Art Deco feel to the building. Everything has been meticulously preserved since it was built in 1950.

Additional features are high ceilings and great views; this location is as convenient as it gets. One block from Birmingham City Hall, Jefferson County Court House, the Old Federal Court House, Regions Plaza and much more. The CBD has experienced immense growth, housing multiple corporate headquarters and historic landmarks, as well as popular restaurants like Bamboo on 2nd, El Barrio, and the Pizitz Food Hall. The Land Title Building is only a short walk from, Uptown, Linn Park and the Birmingham Museum of Art.

If you’re interested in being a part of the bustling CBD District of Birmingham, contact Steve Mordecai, CCIM at smordecai@southpace.com or 205-271-7221.

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Featured Property: 1109 E Park Drive

This week’s featured property is this excellent investment property at 1109 E Park Drive in Birmingham. We have recently reduced the price on the former office building from $528,054 to $475,250. The building is currently 100% leased with 5 long term tenants. This well maintained, 2 story Class B building is 7,700 square feet has recently been renovated with a new roof, new gutters and all updated HVAC units. The property is conveniently situated near I-59 and just minutes from a thriving downtown.

Only a few miles from St. Vincent’s East and Birmingham-Shuttlesworth International Airport, this area benefits from the rapid growth found in Birmingham. With a metro population of over 1 million, the Magic City holds three universities, three colleges, three major hospitals and numerous corporate headquarters. This growing economy has transformed itself into a medical research and service-based city with easy access to other major, regional hubs like Atlanta and Nashville.

Don’t miss out on this opportunity! To find out more information about rent roll, previous income statements and property information, contact Joseph Sedita at jsedita@southpace.com or call 205-326-2222.

 

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CRE Designations within Southpace

Every real estate broker is required by law to be licensed in the specific state in which he/she is practicing in. However, obtaining additional designations shows the individual’s commitment to continued development for excellence within the industry. Nonetheless, all of those letters superseding a broker’s name can be unrecognizable and often go overlooked because of it, so we’ve compiled an overview of the designations you can find our brokers at Southpace boasting.

CCIM – Certified Commercial Investment Member

CCIM designees are recognized as leading experts in commercial investment real estate because the individual has completed advanced coursework and shown extensive experience within the commercial real estate industry. All candidates must complete an education component, pass a comprehensive exam, demonstrate vast experience through a portfolio of transactions, and continued experience after membership is granted. This designation is recognized as one of the most distinguished honors in the industry.

 

SIOR – Society of Industrial and Office Realtors

This real estate designation is awarded to realtors who specialize in industrial and office real estate brokerage. To gain membership into this society, candidates must pass strict requirements in experience, mentorship, and ethics, as well as continued participation in the organization throughout his/her time as a member. This designation recognizes the top producing professionals, closing more than 30 transactions per year with at least 5 years of experience.

CPM – Certified Property Manager

This designation is given by the Institute of Real Estate Management (IREM) and is recognized by the National Association of Realtors (NAR). Brokers who hold this designation are recognized as experts in real estate management and the top of his/her field. To become a CPM, candidates must pass qualifications such as a minimum of 3 years of experience, educational courses, a certification exam and professional references.

 

CRE – Counselors of Real Estate

The Counselors of Real Estate is a membership organization of real estate advisors who are recognized by peers and clients for their ethics, experience, expertise, and influence. Unlike many other designations that require further education and testing, CRE is by invitation only, after candidates meet requirements such as 10+ years in the real estate profession. Members of this organization are acknowledged as the most trusted professionals in the in the industry.

 

CLS – Certified Leasing Specialist

A CLS is accredited by the International Council of Shopping Centers (ICSC) after completing numerous courses, a written exam, and commitment to a code of professional ethics. This designation recognizes brokers who have extensive experience managing leasing opportunities within the retail sector of commercial real estate. Through ICSC, these elite specialists gain opportunities for involvement and participation, as well as tremendous recognition.

 

CRX – Certified Retail Property Executive

A CRX is another accreditation awarded by ICSC that defines the role of a retail property executive in leadership by mastering management, development, leasing, finance and more. In addition, the individual meets growing business needs related to retail real estate and exhibits best practices. A CRX must have at least 8 years of experience in addition to further education and testing.

 

Finding the right commercial real estate can make or break your business venture, so you want to be represented by the most knowledgeable broker. At Southpace, we are proud to offer our own form of continued education through the Southpace Learning Series, as well as encourage all of our staff to participate in national organizations. When you need a commercial real estate broker, Southpace can represent you with decades of industry-leading knowledge.

 

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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Featured Property: Long Leaf Lodge

 

 

 

 

 

 

 

This week’s featured property is scenic Long Leaf Lodge located at 74 Exchange Avenue in Anniston, Alabama. This cozy 50 bed hotel is nestled on 6 acres down a quiet road near McClellan. Additional acreage is available with great upside potential. Amenities include an outdoor pool, business center, and continental breakfast area. All HVAC units have been updated. This location is perfect for the next local hotel to welcome visitors to the city’s many attractions.

The city of Anniston, within close proximity to the hotel, is becoming a hub of economic growth with Jacksonville State University and Gadsden State Community College, as well as the expansion of McClellan, a 10,000+ acre master planned community for residential and commercial properties. With employers like Homeland Security, International Automotive Components and IAC Security investing in Anniston, this quaint city is expected to continue growth into the coming years.

Long Leaf Lodge is conveniently located, approximately 55 miles from Birmingham, 85 miles from Atlanta, GA and 26 miles from Talladega Superspeedway. If you’re interested in this property and being part of the growth of Anniston, contact Blake Thomas at 205-326-2222 today!

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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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