Featured Property: New Ideal Building

newideal

This week’s featured property is an excellent redevelopment opportunity available in the booming downtown area of Birmingham.

Situated at the corner of 2nd Avenue North and 18th Street, the New Ideal building enjoys high visibility at a prime location in the Theatre District. Consisting of two buildings, the property totals an estimated 68,200± SF and has great ceiling heights from floor to deck.

Building One                              Building Two
1st floor: 14,000 SF                        1st floor: 7,000 SF
Mezzanine: 5,200 SF                     2nd floor: 7,000 SF
2nd floor: 14,000 SF                      3rd floor: 7,000 SF
3rd floor: 14,000 SF

The property is also adjacent to the historic Pizitz building, which is currently undergoing a $66 million dollar renovation that is slated for completion later this fall. The Pizitz development will consist of approximately 145 high-end apartments, office space and a food hall on the retail level.

If you’ve been looking for your chance to be a part of the downtown revival, look no further! With multiple nearby construction projects underway, as well as established restaurant and entertainment venues such as Paramount, Trattoria Centrale, Cafe Dupont, Revelator Coffee, McWane Science Center plus The Lyric and Alabama Theatre, this site is certainly the place to be. There is also potential for Historic Tax credits on this property.

Don’t delay! Contact John Lauriello, CCIM, SIOR or Blake Crowe, CCIM about this incredible redevelopment opportunity at 205-326-2222.

 

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