The 40,000 square-foot property known as the University Building at 85 Bagby Drive, recently sold to a Florida-based investor for $1.62 million. In September 2013, Bill Smith, a local investor and CEO of Shipt, purchased the building with 40 percent occupancy. After a three-year period and significant renovations and lease-up by Smith’s team, they were…
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On Jan. 17, 2017, the Housing Authority of the Birmingham District (HABD) approved Southside Development Co. as its partner on the redevelopment of the Southtown public housing property. Our Michael Reilly, leasing and brokerage associate, was quoted in a recent article by the Birmingham Business Journal stating, “This redevelopment effort is definitely a positive initiative…
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According to a recent article in the Birmingham Business Journal, experts say 2017 should see the continuation of commercial real estate momentum that began in 2016. Our Philip Currie, SIOR, CCIM, told the BBJ, “Location drivers will continue to influence the market. Additionally, design factors and consideration are currently, and will continue to be, at…
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Peltown Realty recently purchased Magnolia Office Park from its original owner, Lewis Development and Management. The space, located in Birmingham’s Southside near Five Points South, consists of three buildings totaling 170,000 square feet and is 99 percent occupied. Our Philip Currie, CCIM, SIOR, president of J.H. Berry & Gilbert, helped broker the transaction. “The tenants…
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By Philip Currie As we approach the New Year, our team analyzed trends and stories that shaped Birmingham’s commercial real estate industry in 2016 and identified what we can expect in 2017. Commercial Real Estate 2016 Recap An early wave of momentum kicked off 2016 for the commercial real estate industry, which maintained steady growth…
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By John M. Hardin, vice president, office sales and leasing, CCIM In today’s competitive commercial real estate market, it’s important to make the most of your building asset when preparing to sell. Investing in some minor improvements and paying close attention to details can increase the value of your building, set it apart and quickly attract…
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Philip Currie discussed Birmingham’s Midtown office market in an article for the Birmingham Business Journal on Jan. 8, 2016. The Midtown office market is the region’s best performing and most stable area, which includes the U.S. 31 and U.S. 280 corridors around Lakeshore Drive. In the article, Philip said Midtown has a few large companies…
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