November 15, 2018
By: Will Hollingsworth, project manager
By now, Birmingham’s recent growth is no secret: the largest city in the state, the former industrial steel town is reinventing itself with an increasingly attractive list of tourist destinations and award-winning entertainment options – a MovieMaker top 25 coolest film festival in the world, for example – anchored by a variety of industries, ranging from world-renowned medical institutions to the early stages of the South’s next great tech scene.
What does this growth mean for Birmingham’s economy and, by extension, the commercial real estate industry? Over the next several months, we’ll highlight three of the city’s most active CRE neighborhoods to display the tangible effects of our city’s growth.
This month, we’ll start by taking a look at Southside. The area has experienced significant development over the past few years and has a slate of new projects in the works, especially around the Five Points South neighborhood.
In recent years, the area has welcomed new hotels along 20th Street South, which has created an increase in foot traffic and subsequently the development of additional entertainment and dining options. Southside has also seen increased investments from the University of Alabama at Birmingham, which has acquired several properties as its expands the presence of its college campus and hospital.
With all of this activity taking place, it couldn’t be a better time to consider the available commercial properties available in the area. We’re showcasing three available properties in Southside that are attractive options for any business that wants to join the exciting atmosphere of one of Birmingham’s most active CRE neighborhoods.
Highland Point Plaza
Located on 20th Street South in the heart of Five Points South near UAB and Downtown Birmingham, Highland Point Plaza is home to Mellow Mushroom and Garner Family Cosmetic Dentistry.
Tenants at Highland Point Plaza enjoy the benefits of the high visibility and exposure brought by the nearby entertainment venues and by Five Points’ quickly growing popularity. We currently have one street-level suite of 1,632 square feet available for lease, along with two upper-level suites of 4,236 square feet and 5,106 square feet also available for lease.
Clairmont Office Building
The Clairmont Avenue Office Building – an 8,300 square foot property located at 3800 Clairmont Avenue and within walking distance of the Lakeview district, is an owner-occupied property that enjoys a convenient location to Avondale and Pepper Place. The building features free, on-site parking and recently underwent renovations of its exterior and interior. The property is available both for sale and for lease.
Magnolia Office Park
Magnolia Office Park, which includes the Park Building, the Plaza Building and the Magnolia Building, sold to local real estate company Peltown Realty. The office park houses the Birmingham Business Journal, the Children’s of Alabama Foundation, the University of Alabama at Birmingham, Dixon Hughes and Alabama Public Television.
Magnolia Office Park’s three properties combine for 170,000 square feet of space and provide tenants with covered parking and convenient access to I-65, Red Mountain Expressway and Downtown Birmingham. See specific leasing details by property below:
The Magnolia Building currently has three small suites available for lease, perfect for professional firms or “one man” shops.
- Suite 400: 1,028 square feet
- Suite 401: 1,028 square feet
- Suite 407: 402 square feet
The Park Building has several medium-sized office suites available for lease.
- Suite 210: 2,353 square feet
- Suite 322: 1,388 square feet
- Suite 415: 2,539 square feet
The Plaza Building currently has one office space available for lease.
- Office Suite: 1,763 square feet
As Birmingham’s commercial real estate scene continues to grow, the Southside neighborhood is well-positioned to play a larger role in the city’s economy.
Check back soon as we continue to highlight other areas of recent growth within Birmingham’s CRE market.