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. Continue reading “2015 Birmingham Industrial Market Review with Rich Vanchina, CCIM, SIOR”

Industrial Real Estate By the Numbers

Industrial Real Estate The commercial real estate industry is beginning to see some great progress, even some of the best numbers since the financial crisis began in 2007. As the economy continues to improve, investors are seeing a healthy performance across most property types.

Although some markets have become more vigorous than others, according to Southpace Broker, Rich Vanchina, the Birmingham area industrial sector is seeing its fair share of expansions and early renewals.

In a recent article published on GlobeSt.com, some very interesting numbers were revealed:

Continue reading “Industrial Real Estate By the Numbers”

Industrial Market with Rich Vanchina, CCIM, SIOR

Rich VanchinaAs Alabama’s economy continues to stabilize, 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 14.5 million square feet of multi-tenant industrial space increased to approximately 85%.

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.

Deals with corporate America in central Alabama were few and far between last year. However, many local and regional companies are showing signs of being healthy and confident, which is consistent with other tertiary markets across the United States.

What’s happening locally

Continue reading “Industrial Market with Rich Vanchina, CCIM, SIOR”

CCIM/NAIOP Central Alabama Market Symposium Recap

stuttsatsymposium
Southpace Broker Stutts Everette presents the retail market overview at the Market Symposium…in the dark.

Last Friday, Southpace brokers attended the 21st Annual CCIM/NAIOP Central Alabama Commercial Market Symposium. Although the majority of downtown Birmingham lost power that morning, the speakers didn’t let the darkness deter them and the conference continued successfully. See below for a recap of what was discussed regarding each market.

Office Market Recap – By Blake Crowe, CCIM

Continue reading “CCIM/NAIOP Central Alabama Market Symposium Recap”

2013 Industrial Market Review with Rich Vanchina, CCIM, SIOR

Rich VanchinaAfter experiencing a relatively flat 2012, occupancy rates of industrial real estate increased slightly in Birmingham during the first three quarters of 2013. The overall occupancy rate of the 14.5 million SF of multi-tenant industrial space increased to approximately 84%. As expected, this modest increase in absorption has finally resulted in a slight increase in rental rates.

Continue reading “2013 Industrial Market Review with Rich Vanchina, CCIM, SIOR”

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”

Slight Improvement in the Second Quarter 2012 Industrial Market

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”