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.

 

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:

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Client Spotlight: MAKEbhm – If You Don’t Start, You’ll Never Know

MAKEbhmLately MAKEbhm has been causing a lot of buzz all around the Birmingham area, and we can’t help but be proud to have helped them find their place in Avondale. It’s the perfect location for such a business; right in the middle of all the creative, inspiring happenings going on in Birmingham.

With all the talk about MAKEbhm, we wanted to go straight to the source and get our information first-hand from its founder and Executive Director, Bruce Lanier. What he had to tell us was more than inspiring.

Here’s his story.

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Southpace Properties Principal John Lauriello Chosen as Top 50 over 50 from Positive Maturity

Southpace Principal John LaurielloSouthpace Properties Principal John Lauriello, CCIM was recently chosen as a 2014 Top 50 Over 50 Community Leader for Central Alabama from Positive Maturity. The award is intended to celebrate members of the community who know how to “dream, laugh, be happy, and achieve success on many levels…all the key elements to staying young while growing up.”

Positive Maturity, a United Way partner, is a non-profit organization that positively enhances the lives of mature adults through social services and civic engagement. According to their website, the organization provides various services, including: community resource support, volunteer opportunities, recreational facilities and employment assistance.

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Northern Tool + Equipment Now Open for Business

NorthernToolNorthern Tool + Equipment has officially entered into the Birmingham market, thanks in part to Southpace brokers Bryan Holt, CCIM and Tyler Bradford, CCIM.

If you remember, last December, Holt and Bradford represented the owner in the sale of 1.79 acres to Northern Tool + Equipment at Highway 31 and Southland Drive in Hoover, right off exit 252 on I-65.

We’re excited to announce that they’re now open for business!

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The New Trend of 2014: Wealthy Private Investors

blake_thomas_loresBy Blake Thomas, Associate Broker

Institutional capital isn’t the only capital driving investment sales up each year. Wealthy investors who typically invest in stocks and bonds seem to have a new outlook on commercial real estate. Private investors from families with a large amount of capital are jumping in on this new trend of commercial real estate investment that’s sweeping the nation.

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