2015 Top Five Southpace Brokers

top5_lores

Top 5 Brokers (left to right) – Joseph Sedita, Rich Vanchina, Stutts Everette, Blake Crowe and David Ashford.

At Southpace, we start each new year by honoring our top five producing brokers from the previous year. While most of our 2015 top five shouldn’t be much of a surprise to those in the Birmingham area commercial real estate industry, there is definitely a new face in the mix.

Up first is Blake Crowe, CCIM, Director of our Office Division, who provides representation of both landlords and tenants in leasing and sales transactions. Blake helped several offices find their ideal space in Birmingham last year, including client Wettermark & Keith who leased 10,558 SF of office space at Grandview II. Blake also represented the owner in the sale of the 57,000 SF former Booker T. Washington building downtown to Gray Construction, who is renovating the space for their Southeastern regional office headquarters. Two other large transactions Blake facilitated included the sale of a 73,000 SF office building in Anniston and a 70,000 SF office building on Highland Avenue in Birmingham, Alabama.

Next is David Ashford, CCIM, Director of our Retail Division, who best illustrates our firm’s landlord representation capabilities. David represented the landlord in the leasing and renewal of retail space at Country Club Park shopping center in Mountain Brook to La Paz Restaurant and Catering, Total Fitness and 32º Yogurt Bar. David also represented the landlord in the leasing of 22,600 SF to Beauty Masters at Midfield Shopping Center.

Stutts Everette, who focuses on tenant representation in our retail division, had an excellent year with both new and existing clients. Stutts represented Twisted Root Burger Company in leasing restaurant space on Rocky Ridge Road in Birmingham. Stutts also represented Zoës Kitchen in finding a new location in Dothan, Alabama and also in a built-to-suit location at Brook Highland shopping center in Birmingham, which will be the fast casual chain’s first freestanding restaurant.

Rich Vanchina, CCIM, SIOR, Director of the Industrial Division at Southpace, had a great year in both sales and leasing transactions. Rich represented the landlord in new leases and renewals of more than 200,000 SF total at Continental Gin in Avondale in 2015, including leasing 18,000 SF to Cahaba Brewing. Rich also represented the landlord in new leases and renewals of more than 165,000 SF of industrial warehouse space at 165 Goodrich Drive in Birmingham, Alabama.

We round out our top five with Southpace broker Joseph Sedita. Joseph closed a variety of transactions in 2015, including assisting Blake Crowe with the sale of the 73,000 SF office building in Anniston, Alabama. He also represented the owner in the sale of 1.5 acres to Rural Urgent Care, LLC in Oneonta, Alabama. Joseph also helped several local Birmingham clients find their perfect retail or office location, including Rent Monster and Katie’s Plates.

Congratulations to our top five brokers of 2015. We look forward to seeing what you’ll accomplish this year!

 

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Our 2015 Property Management Report with Tommy Joyce, CCIM, CPM

tommy_bw_smallThe mission of Southpace Management is to add value, to monitor and to account for our client’s real estate holdings. This can only be accomplished if you have a dedicated team of experts who aspire to be the best in their field. Our current management team has the right combination of dedication, knowledge, experience and tenacity to excel in providing our clients and their tenants with unparalleled service.

In 2015, there were a couple of key personnel moves. Travis Rutherford, who took a leave of absence in 2014, returned this year and has resumed property management duties for a number of key properties in the Southpace portfolio, including the recent addition of the 115,000 square foot Office Park South complex in Huntsville, Alabama. Southpace is serving as the court appointed receiver and property manager/broker for this property.

Janice Self has taken on additional responsibilities within the management department and is now our Maintenance Coordinator. In this role, she is responsible for coordinating the daily activities of our maintenance staff and responding to tenant and property maintenance calls.

While retaining our wide ranging footprint from Texas to North Carolina, we also added some key office building assignments in our own backyard, the Central Business District and suburbs of Birmingham. Among those new assignments are the 34,000 square foot Chambers Building in Vestavia with excellent convenience to Highway 31 and I-65 and the 30,000 square foot Land Title building, which is prominently located in the CBD.

Southpace Director of Property Management, Tommy Joyce, along with Principal, Bryan Holt and Broker, Michael Randman, worked with an investor out of Bend, Oregon on the purchase of the Roebuck Crossings Shopping Center. The investor was impressed with our team and retained Southpace as the manager and agent of the property.

In 2015, Thomas C. Joyce, Jr., CCIM, CPM continued his involvement with the state chapter of the Institute of Real Estate Management (IREM).  Tommy was installed in November as the 2016 Treasurer for IREM #43.

Tommy Joyce is Senior Vice President and Director of Property Management at Southpace Properties

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2015 Birmingham Retail Market Review with David Ashford, CCIM

davidashford_bwRetail real estate in Birmingham continued to improve in 2015, with lowering vacancy rates and tenants looking for creative ways to expand their footprint in the market. A lack of available space has caused a serious demand for new developments. Although there was not much in the way of new development in 2015, we expect 2016 will bring more new construction.

In 2015, vacancy rates continued a slow but steady drop from 9.9% in the first quarter to 9.4% at the end of 3rd quarter this year, according to Xceligent. This steady drop is to be expected without new projects coming online. This should change in 2016 with the ground breaking of several new projects, such as 20 Midtown, Lane Park and Publix at Patchwork Farms among others.  Although these projects will increase the square footage in the market, this will not increase vacancy rates much since the demand for retail real estate remains high.

The 20 Midtown project marks a huge achievement for the city of Birmingham. The first downtown grocery store, Publix, should be a shot in the arm to the downtown/UAB market. The first tenants to be a part of the project, Starbucks and Chipotle, are doing very well and the additional phases to this project will also be successful. The addition of more than 1,000 apartments to the Downtown/UAB market will definitely help to attract more retail to the area.

High-end specialty grocers continued to expand throughout Birmingham in 2015, with Sprouts opening their store in Hoover and another under construction in Vestavia Hills. Whole Foods is under construction at their location in Hoover and should open middle-to-late 2016.  Blackwater Development is working on a site in Trussville anchored by Fresh Market. The Piggly Wiggly in Crestline, currently under construction, will also deliver in 2016. But the biggest news in retail for 2015 was the opening of Trader Joe’s at the Summit. The long awaited specialty grocer took the former Banana Republic space. Other new retailers to the Summit this year include, Alumni Hall, Sprout and Pour, The Art of Shaving, Tumi, Pieology and Oli-O.

The opening of the Grandview Hospital has sparked a string of new developments on Cahaba River Road, with two new apartment complexes and the addition of Publix to Patchwork Farms. Blackwater Development is developing the Publix and adding 39,000 square feet of shop space and four outparcels to the site.

New tenants to the market in 2015 mostly consisted of restaurant concepts—both national and local—like Bamboo, Five Point Public House Oyster Bar, Miss Dot’s and Oven Bird as well as Grille 29, Sky Castle, Brava, Twisted Root Burger and Habitat Feed & Social. This year has also been the year of the pizza craze. Pieology, Ironstone, Pyros, Pizza 120 and Your Pie all expanded into Birmingham, begging the question, “How much pizza can you eat?”

As we look ahead, the future looks bright for retail in Birmingham. The downtown retail market is growing and should continue this growth next year as several projects with retail space are completed. Talk of several new projects in suburban areas surrounding Birmingham has us excited for what 2016 has to bring.

David Ashford, CCIM is Director of the Retail Division and an Associate Broker at Southpace Properties

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2015 Birmingham Industrial Market Review with Rich Vanchina, CCIM, SIOR

richvanchina_bw_smAs Alabama’s economy continues to grow, Birmingham’s industrial real estate market is sustaining slow and steady occupancy growth. The automotive industry, as well as Alabama’s business friendly economic climate, continues to drive the industrial sector of the market.

The overall occupancy rate of the approximately 116 million square feet of tracked industrial space increased to approximately 90%. Similarly to the last two or three years, we experienced very few individually significant transactions, but actually had a good year due to the large number of small-to-medium-sized deals that occurred.

More deals with corporate tenants are being completed in central Alabama, and our usual amount of local and regional companies are also still healthy. This trend is consistent with other similarly sized tertiary markets across the United States.

Occupancy by the numbers

For the second straight year, the occupancy levels in each of Birmingham’s five industrial submarkets experienced slight increases in 2015.

Occupancy in the Oxmoor Valley increased to 79% this year, while the Central and Western submarkets also increased to 83.5% and 90% respectively. Occupancy in the Eastern submarket was unchanged, but remained strong at 91%. After a big year in 2014, the Southern submarket remained stable at a strong 90% occupancy level.

In addition to the modest leasing gains, sales of free standing owner-occupied industrial buildings increased again in 2015, which has resulted in a dwindling supply of quality industrial buildings.  And similarly to the leasing market, relatively few of these transactions were large enough to be considered significant deals. This type of sales activity drives home the notion that the local and regional players in Birmingham continue to thrive. And with the supply tightening, we are definitely seeing a price increase, although prices are still well below replacement value.

The market is still not experiencing any speculative development, however, build-to-suit activity is starting to increase. Interest rates for commercial real estate mortgages are still hovering close to record lows, so in many cases it makes more sense financially for these companies to own, as opposed to lease their buildings. Also, many of the commercial lenders in town are aggressively seeking owner-occupied commercial real estate loans, making it easier for qualified applicants to secure a great deal on a commercial mortgage. All of these factors have created a dwindling supply of available buildings, which has lead to inevitable price increases.

Significant deals
One of the more exciting developments this year was auto supplier Kamtek’s announcement of a major expansion to its operation in Pinson Valley. The total investment is expected to be $530 million and will create around 350 jobs.

Also, Publix announced that it will build a 625,000 square foot distribution facility in Jefferson Metropolitan Park in McCalla. This $34 million investment is expected to create approximately 200 new jobs. The company has not announced a timetable for construction.

Finally, generic drug manufacturer, Oxford Pharmaceuticals broke ground on its $29 million, 120,000 square foot manufacturing facility in the Lakeshore Jefferson County Metropolitan Park. This project is expected to eventually create 200 jobs.

Birmingham continues to benefit from the product shortage of industrial space created by the strong demand for industrial property in major U.S. markets, which has pushed some major tenants into secondary markets. As evidenced by the projects that were announced this year, corporate tenants realize that Birmingham has the geographic advantage of being an excellent strategic distribution location in the Southeast. This, in addition to a favorable business climate and quality standard of living, makes our region an excellent place for them to conduct business.

Rich Vanchina, CCIM, SIOR is Director of the Industrial Division and an Associate Broker at Southpace Properties

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2015 Birmingham Office Market Review with Blake Crowe, CCIM

blake_bw_loOver the past two or three years, I have begun the office portion of the Southpace newsletter by saying something along the lines of, “Are we finally seeing the end of the tunnel?”

Unfortunately for the Birmingham office market, 2015 was not our year to break through with huge rebounds.

In fact, as of the end of the 3rd quarter of 2015, the market has posted a net absorption of -90,000 SF. In other words, we have lost approximately 90,000 SF in our multi-tenant inventory.

At the end of the 3rd quarter 2015, our vacancy rate is approximately 14.6%. If you include the sublease space that is on the market, our vacancy rate is approximately 16.8%.

The largest block of space vacated this year was Infinity Insurance, who left approximately 150,000 SF at the Colonnade to purchase and occupy a building downtown. Although it is a positive note that Infinity is staying in Birmingham, it does not take too many of those “punches to the nose” to do some real damage to the numbers.

These are obviously not great numbers to boast about. However, if you focus on just Class A product, our vacancy rate is approximately 9.3%. That is not too bad, especially if you compare Birmingham to the rest of the southeast. Compared to the top 11 office markets in the southeast, we are in sixth place behind Nashville, Jacksonville, Memphis, Raleigh and Louisville. At 19,700,000 SF, our market is much smaller than some of these others in the southeast.

The Birmingham office market is comprised of seven submarkets. The Midtown submarket is historically the strongest submarket in Birmingham, however, Southside has overtaken it this year. The vacancy rate is around 7.1%. The Highway 280 / I-459 submarket is hovering around an 11.6% vacancy rate. The Southside submarket is approximately 5.9% vacant. The Central Business District has a vacancy rate of around 16.4%. The Riverchase submarket is in the 11% vacancy range. The weakest submarket we have is the Oxmoor submarket. With a vacancy rate at approximately 37.5%, this submarket continues to struggle even though it has seen a positive absorption so far this year.

Class A rental rates average $21.50 per square foot. Class B rate average is $15.00 per square foot and Class C rates are approximately $11.25 per square foot. It is likely that these rates will increase in 2016. There were modest increases in the A rates in 2015, however, B and C rates dropped slightly this year. Landlords will likely continue to be aggressive in offering rental concessions to increase activity and occupancy. The method appears to be working.

Despite being considerably smaller than our Southeast rivals, Birmingham has received a lot of attention from outside investors this year. The Hertz Investment Group purchased the Wells Fargo Tower. Privet Investments purchased Two North 20th, The Crescent Building and Urban Center at Liberty Park. The Matrix Group purchased Meadow Brook North, and Point One Holdings purchased Colonial at Blue Lake and International Park.

At the end of the 3rd quarter 2015, 89 buildings have been sold. In 2014, a total of 59 buildings were sold. In 2015, eight buildings sold that were over 100,000 SF!
I mention the information above to say even though we have significant negative absorption, outside investors see value in Birmingham….and they should! Birmingham is a slow and steady market. We generally hold rental rates along a steady plain with modest occasional increases.

During the “good times” people hate that we are slow and steady; however, when the inevitable downturn comes, they love our market!

Significant deals that happened in the office market this year:

Lease

Bradley Arant Boult Cummings, LLP renewed at One Federal Place  –  209,291 SF
Labcorp expanded in Midtown Center  –  25,048 SF
Education Corporation of America renewed at Grandview Plaza  –   57,371 SF
Newquest Management of Alabama renewed at Chase Corporate Center  –  71,923 SF

Sale

Meadow Brook North  (508,976 SF)  –  $35,962,500
The Birmingham News Building (120,493 SF)  –  $19,591,353
Wells Fargo Tower (514,893 SF)  –  $75,980,00
Inverness Center (455,853 SF)  –  $53,400,000
BB&T Building (122,228 SF)  –  $15,190,000

Blake Crowe, CCIM is Director of the Office Division and an Associate Broker at Southpace Properties

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Inside Southpace with Bryan Holt, CCIM

bryanholt_color_loresA review of 2015 and what’s to come in 2016.

In our 2013 newsletter, I talked about leadership and how involved our brokers and I had become in leadership roles across the industry and also how the CCIM Institute had recognized John Lauriello’s contributions with an endowed scholarship.  In 2014, I talked about the implementation of our training program for new brokers and what an impact it had not just on the new brokers but on the veterans who administered the program.

Looking back now, 2015 seems like the year we hit the ‘reset button’ in our property management department. After more than a year of work, we are wrapping up a complete overhaul of our Skyline Property Management software and the accompanying database. This included a completely new software system and abstracting of every lease in the portfolio. The new system gives us much faster access to information and new metrics that will help improve the service to our clients.

In 2016, we will be working on integrating several new system capabilities into our property management process and we are looking to add more technology to our accounting department. I would like to thank our property management staff for all their hard work including several nights and weekends spent working with the vendor to get this massive project completed.

We also completed some minor building renovations this year, bringing our accounting department and property managers up to the eighth floor here in the Title Building. Getting everyone on two contiguous floors is already paying dividends in terms of communication and teamwork. Our Retail, Property Management and Accounting groups occupy the eighth floor, while Reception, Office and Industrial groups occupy the ninth floor. This historic building continues to serve us well and we are very proud to remain downtown to witness yet another renaissance for Birmingham.

2015 was another successful year in leadership roles for our brokers serving industry organizations; CCIM, SIOR, BCRC, RBN, IREM and ICSC all had Southpace brokers
and property managers serving in leadership positions. As the 2016 President of the Alabama CCIM Chapter, I am looking forward to making connections with CCIMs in markets like Mobile, Montgomery and Huntsville while leading the nation’s top CCIM
chapter.

My role on the Retail Brokers Network (RBN) Executive Committee has been invaluable, giving me exposure to principals in the top CRE firms around the country. RBN is officially a referral network, but has proven to be even more valuable as an information exchange. Networking in leadership roles like this gives us access to resources that put us ahead of our competitors. The extra time, money and effort that goes into these commitments pays off when done consistently over time, and Southpace has a legacy of industry leadership.

Those new brokers who we trained in 2014 are coming into their own and helped make 2015 one of our best years ever. As business continues to grow we will add another wave of young talent to help us maintain the level of service Southpace clients have come to expect for the past 30+ years.

Bryan Holt, CCIM is a Principal at Southpace Properties

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Straight Talk with John Lauriello

Southpace Principal John LaurielloLooking back at 2015

Last year was our 31st year in business. As I say every year, “Where did the time go?”

We had an overall good year in 2015; had a few staff changes, added some folks, lost one of our wonderful brokers, Tyler Bradford, who was hired by Books-A-Million as Vice President of Real Estate—all things considered 2015 was fine.

Our brokerage activity was mixed, we added some new property management assignments and developed a few projects for clients. Our retail brokers have been really busy, the warehouse and industrial sector was OK, and overall office, especially south of town, has been very soft.

Downtown is doing very well, with new and redevelopment projects being developed for residential rental units, mixed use and office. There is more than $600 million
in private development in the downtown/midtown area—that’s more than the last 15-20 years combined.

Up until now our most consistent growth in the downtown/midtown area has been Children’s Hospital, UAB and Health Services, which continue to grow, but now private developers are in the market. For the first time in 30 years, UAB/Health Services has competition for properties, which is raising the price of property in the lower southside/midtown areas.

Avondale and Lakeview continue to grow and expand, especially with all the new residential units and retail being developed for lease. The over-the-mountain activity for retail and residential is also very good, with prices continuing to increase and demand exceeding supply. North and East of Birmingham, Gardendale, Fultondale, Trussville and Moody are also enjoying good retail and residential activity.

The overall outlook for metro Birmingham is OK, not great. We simply are not adding many new jobs or bringing new companies to our market. The cities we compete with—Atlanta, Nashville, Charlotte, Jacksonville,Tampa—are all doing fine. Nashville maybe the hottest city in the south, other than Atlanta.

Investment properties are selling for really low cap rates/returns. It’s a great time to be a seller of investment grade real estate and a horrible time, in our opinion, to be a buyer—unless you’re a tenant owner, in which case, these deals can still work, mainly due to extremely low interest rates.

In fact, several of my clients who own buildings that they occupy are being contacted by many folks to sell their properties, with them signing long term leases. This “Sale-Leaseback” is not a bad option, but if you have a property that your firm/company occupies that is either paid for or will be paid off within the next three, five or seven years, why sell it? Where will you find a safer investment than a building you own and occupy? If we did the deal for you, the return before taxes is normally 10% or more per year. Where can you find a better investment in the current market?

There is simply too much money chasing too few deals. Again, it’s a great time if you want to “cash out” and sell.

We are overly conservative on buying existing properties for our clients with low returns. We receive calls several times a month from great clients and friends who have money and want to invest in income producing properties.  We are not finding many deals that we can recommend.

It is not that we are afraid of risks, it’s simply that the pricing is too high, and three to five years from now these types of investments may look awful.

Maybe we are too old-fashioned, but we worry about our clients and friends more than we worry about ourselves. And that is not going to change.

We hope everyone has a wonderful 2016!

John Lauriello, CCIM, SIOR is a founding Principal at Southpace Properties

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Now open: Verizon Wireless and Chipotle Mexican Grill

verizonCan you hear us now? Good! Because we have exciting news about retail spots in Birmingham that are now open!

Southpace was proud to have recently helped Verizon Wireless and Chipotle Mexican Grill find new, perfect locations in the Birmingham area.

Verizon Wireless – Homewood and Alabaster

Verizon is one of the largest communication technology companies in the world. They operate America’s largest 4G LTE wireless network and the nation’s premiere all-fiber broadband network. With more than 1,700 retail sites, it’s easy to find a location near you!

And now it’s easier than ever with two new Verizon Wireless stores in the Birmingham area. Visit the new Verizon location in Homewood at the Brookwood Village or the Alabaster location at the Colonial Promenade shopping center to get your new smartphone, tablet or wireless accessory today.

Bryan Holt, CCIM represented Verizon Wireless in the leasing of 5,100 SF at 579 Brookwood Village in Homewood, Alabama and in lease negotiations for a built-to-suit location at 225 South Colonial Drive in Alabaster, Alabama.

Chipotle – Downtown Birmingham

Things just got spicier in downtown Birmingham at the 20 Midtown project with the opening of a new Chipotle Mexican Grill. Burrito, taco and salad lovers alike can come together here and enjoy their favorite meal—just be sure you “top it off” with some of their farm fresh toppings! Stop by for lunch or dinner the next time you’re in the neighborhood!

Bryan Holt, CCIM represented Chipotle Mexican Grill in the leasing of 2,400 SF at 300 20th Street South in Birmingham, Alabama.

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Southpace Brokers Complete Local Transactions During the Month of November

carwashOur brokers are still going strong, closing more than $7.5 million in transactions during the month of November.

Bob Vines represented the United States Bankruptcy Court-Northern District of Alabama in the sale of a 3,605 SF former car wash to DLR Associates, LLC at 3295 Morrow Road in Trussville, Alabama.

David Ashford, CCIM represented the landlord in the renewal of 6,140 SF to La Paz Restaurant and Catering and 1,143 SF to Total Fitness at Country Club Park in Mountain Brook, Alabama. Ashford also represented the landlord in the leasing of 1,400 SF to a State Farm Insurance agent at 280 Bazaar Shopping Center in Birmingham, Alabama. Ashford also represented the landlord in a lease renewal of 1,300 SF to Lee Nails at 2902 18th Street South in Birmingham, Alabama. Ashford also represented the Awbrey Firm in the leasing of 2,091 SF of office space at Two North Twentieth in Birmingham, Alabama.

Bryan Holt, CCIM and Michael Randman of Southpace Properties, Inc. represented the owner in the investment sale of the 10,400 SF Roebuck Crossings shopping center located at 9256 Parkway East in Birmingham, Alabama. The center, which was developed by Southpace for the original owners, is 100% leased with tenants including Payless Shoes, Gamestop and AT&T. An out-of-state 1031 buyer purchased the Super Walmart shadow anchored strip center for $2.4 million. Southpace Properties will continue to manage the property for the new owners.

Andrew Loveman, CCIM and David Ashford, CCIM represented the landlord in the leasing of 22,600 SF to Beauty Masters at Midfield Shopping Center in Midfield, Alabama. Loveman also represented the landlord in the leasing of 1,050 SF to Papa Murphy’s Pizza and 1,440 SF to an insurance agency at the Shoppes at Rainbow Landing in Rainbow City, Alabama.

David Ashford, CCIM and Troy Gisi represented the landlord in the leasing of 1,495 SF to Capitol Tax at 3133 Lorna Road in Birmingham, Alabama. Gisi also represented the owner in the sale of 1.06 acres to Urgent Care on Gilmer Avenue in Tallassee, Alabama.

Blake Thomas and Troy Gisi represented the landlord in the leasing of 20,000 SF to Badcock Furniture at the Palisades Shopping Center in Homewood, Alabama.

Stephen Lazarus represented Travel Planners, Inc. in a lease renewal of 900 SF at 3918 Montclair Road in Birmingham, Alabama.

Rich Vanchina, CCIM, SIOR and Jim Collins, CCIM represented the landlord in a lease renewal of 82,752 SF at 165 Goodrich Drive. Vanchina also represented the landlord in the leasing of 20,000 SF to Truckworx at 113 45th Place North in Birmingham, Alabama. Vanchina also represented the landlord in the leasing of 4,450 SF to LED Lighting Company at 3947 South Lorna Road in Hoover, Alabama.

 

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 12 CCIM designees, Southpace has the highest number of CCIM accredited brokers in the Southeast under one roof.

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Featured Property: New South Federal Building

NSFThis week’s featured property, the New South Federal Building, is the perfect opportunity for anyone looking for office space located in the heart of downtown.

Situated at the corner of Third Avenue North and Richard Arrington Jr. Boulevard, this 66,519 square foot building is in a prime location with convenient access to Red Mountain Expressway, I-59, I-65, as well as City Hall, Jefferson County Courthouse, Hugo Black Courthouse and U.S. Federal Courthouse.

The New South Federal Building is also within walking distance to some of Birmingham’s best restaurants and bars including El Barrio, Bamboo, Café Dupont, Paramount, Trattoria Centrale, Collins Bar, Brick and Tin, Urban Standard, John’s City Diner and more. And with flexible suite size options ranging from 300 square feet – 25,877 square feet, you are sure to find office space to suit your need!

This property includes an attached parking garage, a rarity for many downtown properties. Naming rights for the building is also available.

For more information about leasing office space at the New South Federal Building, please contact Stutts Everette or Blake Thomas at 205-326-2222.

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