At Southpace, we start each new year by honoring our top five producing brokers from the previous year. Our 2012 top five should come as no surprise to those in the Birmingham area commercial real estate industry. Continue reading “2012 Top 5 Southpace Brokers”
By definition, Property Management is a “professional activity where one oversees the operation of a property, whether it is commercial, industrial, residential, multi-family or retail, where the property objectives are dictated by ownership.”
Further peeling back the layers of this simplified, textbook definition, it goes on to include leasing, customer service and general accounting administration. Continue reading “Back to the Basics of Property Management”
Another year is behind us, and wow was that fast! I remember my father telling me “the older you become, the faster time goes by.” I used to think it was crazy, but now I understand.
Actually, 2012 was a good year overall at our company. We added some great brokers and staff. Business was better than in 2011, and we have a lot of deals working for our clients going into 2013. We have the best group of brokers and staff as we enter our 29th year in 2013. Again, how fast time goes by. Continue reading “Straight Talk with John Lauriello – What to Expect from Southpace in 2013”
2012 was a good year for Southpace. Productivity was up in both brokerage and property management, occupancy rates and rental rates improved across our portfolio and we added more capability in personnel and in operations.
We spent a great deal of time, money and effort this year increasing our ability to serve our clients. A focus on education and technology made us a better firm in 2012. Continue reading “Inside Southpace during 2012”
During November and December 2012, Southpace brokers completed 49 transactions for a combined total of more than $35 million.
Among the many deals, two that are most noteworthy include brokers Bryan Holt and Tyler Bradford who represented Gander Mountain, an outdoor sporting goods retailer, in the purchase of land and lease negotiations for new store location in Tuscaloosa, Alabama. Continue reading “Southpace completes more than $35 million of transactions”
By David Ashford, CCIM
As the old saying goes, “Slow and steady wins the race.” That’s how I would describe retail in the Birmingham market in 2012. Vacancy rates dropped every quarter this year and new tenants continue to find homes in Alabama, so we will call that a win; not by a great margin, but a win is a win. Continue reading “Birmingham Retail Happenings in 2012”
After experiencing modest gains in 2011, occupancy rates of industrial real estate stayed flat in Birmingham during the first three quarters of 2012. The overall occupancy rate of the 16 million square feet of multi-tenant industrial space stayed at approximately 75%. Continue reading “Birmingham Industrial Market in 2012”
As Birmingham’s office market goes, status quo is status quo. The vacancy rates have not changed significantly over the past few years. The 3rd quarter vacancy rate in 2011 was approximately 17.55%. As of the end of the 3rd quarter 2012, the vacancy rate was 19.6%.
In our opinion, this is not a significant swing based on a market that tracks approximately 18,500,000 square feet of office space. Continue reading “Birmingham’s Office Market in 2012”
It can be difficult to make predictions about how an industry will do in the coming year, but the last few weeks of 2012 helped shape what’s expected in 2013.
CoStar Group, one of the largest providers of commercial real estate information, research and analysis, predicts that this year will be different – and better – than the last couple of years. Continue reading “Commercial Real Estate in 2013”