Southpace broker Sloan Stevens awarded scholarship

At Southpace, we love to see our brokers continue their education and grow their portfolios to become the best of the best in commercial real estate. This usually means becoming a Certified Commercial Investment Member (CCIM), and it’s part of the reason why we have the most designees under one roof than any other commercial brokerage in the state. Continue reading “Southpace broker Sloan Stevens awarded scholarship”

Straight Talk with John Lauriello: Effects of the Election

Southpace has had a great 2012 with a lot of properties moving and transactions closing. We had several deals coming up and a lot of momentum going into 2013, but after the election, that all seems to have changed.

Things have gotten a little bit shaky, and we know that the results of the election have already cost us at least two deals. These businesses were planning to buy buildings from us, but they backed out and canceled their contracts because they decided to go into a hold position. Continue reading “Straight Talk with John Lauriello: Effects of the Election”

Done Deals

The third quarter of 2012 has been a busy one so far for Southpace Properties. Our brokers have been working hard to close deals before the end of the year. Here are a few of our biggest done deals from recent weeks.

David Ashford, CCIM represented the landlord in a lease renewal and expansion for a total of 2,100 SF to Zoë’s Kitchen at Country Club Park in Mountain Brook, Alabama. Continue reading “Done Deals”

Omniretailing could be the wave of the future

By Tyler Bradford, Southpace Broker

How well do you remember life before texting? It’s hard to think back to a time when it wasn’t such a big part of our daily activity. I think a new trend called “omnichannel” retailing will be a similar phenomenon. At some point, maybe in less than 5 years, we will have forgotten how we shop today.

The idea of omniretailing is to favor no single retail channel, such as brick-and-mortar, mobile phone, catalogs, etc. but to sell things to people whenever, wherever and however they want. Continue reading “Omniretailing could be the wave of the future”

Midtown Birmingham is city’s strongest office market in Q3

By Blake Crowe, CCIM

Our brokers have taken a look at the 3rd quarter of 2012 for our industrial and retail divisions. Now, let’s shift to our office division.

We track approximately 18 million square feet of office space in the Birmingham market. Overall, we had about a 15% vacancy factor during the third quarter. We did experience a slight negative absorption of about 28,000 square feet. Continue reading “Midtown Birmingham is city’s strongest office market in Q3”

Looming tax hike fueling sales

By Michael Randman, Southpace Broker

For anyone contemplating the sale of a commercial property, selling this year is going to be substantially cheaper than next year.  The Obama administration will push for an increase in the capital gains tax, the tax on real estate held for more than a year, from the current rate of 15% to an estimated 20%. This is a 25% increase on taxable basis. Continue reading “Looming tax hike fueling sales”

Owner occupied industrial buildings hot in Q3

By Rich Vanchina, CCIM, SIOR

The 3rd quarter of 2012 has come and gone, so let’s take a look at what we saw in the industrial commercial real estate market.

This quarter, we saw a negative absorption rate of 112,000-square-feet, which brings us to a negative overall absorption rate of 127,000-square-feet for industrial lease space in Birmingham. We’re about 75% occupied across the market.

One area that continues to do well is the sales of owner occupied industrial buildings. This is mainly because prices are low and interest rates for financing deals are low. Continue reading “Owner occupied industrial buildings hot in Q3”

What to expect in today’s restaurant market

By David Ashford, CCIM, Director of Southpace Retail Division

With every article you read, you get a different opinion about the retail market. One says recovery is on the way, while another says everything is falling down around us. Stores are closing, but stores are opening. It can be confusing and depends on the industry, but we’re seeing a lot of activity when it comes to restaurants. Continue reading “What to expect in today’s restaurant market”