By Bryan Holt, CCIM, Southpace Principal
Some may say business slows down in the summer, but things definitely heated up this year for our brokers. They completed 23 transactions for a combined total of more than $20 million in the month of July alone.
Among these deals, two are particularly noteworthy. Brokers Bryan Holt and Tyler Bradford represented Gander Mountain, an outdoor sporting goods retailer, in the purchase of land and lease negotiations for new store locations in Opelika and Florence. Continue reading “Southpace Brokers complete more than $20 million of transactions in July”
By David Ashford, CCIM, Director of Southpace Retail Division
The overall retail market saw a 204,000-square-foot positive absorption in the second quarter of 2012.
The vacancy rate is 11.1%, which is down from 11.8% in the first quarter. This can largely be attributed to Crestwood Festival Center, which saw about 50,000-square-feet of positive absorption. Continue reading “Positive Absorption and Lower Vacancy for Retail in Birmingham”
By Blake Crowe, CCIM, Director of Southpace Office Division
In the second quarter of 2012, the Birmingham office market saw only one significant swing in vacancy rates of our six submarkets.
The Oxmoor market had a 10% decline in it’s vacancy rate rising from approximately 33% in the first quarter to 43% in the second. Continue reading “Most Birmingham Office Markets Hold Strong”
By Rich Vanchina, CCIM, SIOR
While none of the deals that have happened this year are exciting by themselves, it’s a pretty fair amount of market activity when combined. Deals are getting done to take available space off the market.
During the second quarter of 2012, we continued to see slight improvement across the entire market bringing us to +/-240,000-square-feet of total absorption so far this year. Continue reading “Slight Improvement in the Second Quarter 2012 Industrial Market”
Summer has continued to be busy for our brokers at Southpace. Here are just a few of the deals they have wrapped up in the last few weeks.
Greg Despinakis negotiated the sale of approximately one acre of land at Grandview on U.S. Highway 280 to Pappas Restaurants of Houston, Texas. Pappas, who already owned the Ralph and Kacoos property next door, will build their cajun seafood concept “Pappadeaux” on the site. Despinakis is the area representative for Pappas. Continue reading “Done Deals”