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CCIM Review: 2013 Industrial Market Overview

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2013 Industrial Market Overview

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CCIM Review: 2013 Industrial Market Overview

  1. 1. 2013 Industrial Market Review PRESENTED BY RICH VANCHINA, CCIM, SIOR Southpace Properties, Inc. www.southpace.com
  2. 2. Birmingham Industrial Submarkets
  3. 3. Eastern Submarket • • • • 1.8 million total SF 218,000 SF vacant 88% occupied Average asking rent: $4.25 PSF Changes from 2012: • Occupancy unchanged • Asking rent from $4.09 PSF YTD absorption: 7,800 SF
  4. 4. Eastern Submarket SIGNIFICANT SALES Eastern Submarket SIGNIFICANT LEASES 2630 5th Avenue South Irondale, AL 35210 Size: 92,000 SF Price: $1,650,000 Buyer: Shaffer Sports & Events 1401 Meadowcraft Road Birmingham, AL 35215 Size: 90,000 SF Tenant: United Pipe & Steel Corp 3200 Pinson Valley Parkway Birmingham, AL 35217 Size: 153,310 SF Price: $2,200,000 Buyer: Royal Cup, Inc. 4280 Pinson Valley Parkway Birmingham, AL 35215 Size: 80,000 SF Tenant: Tubular Products 6
  5. 5. Southern Submarket • • • • 3.9 million total SF 475,000 SF vacant 88% occupied Average asking rent: $4.75 PSF Changes from 2012: • Vacancy 2% • Asking rent from $4.65 PSF YTD absorption: 71,000 SF
  6. 6. Southern Submarket SIGNIFICANT SALES 3140 Pelham Parkway Pelham, AL 35124 Size: 429,615 SF Price: $2,892,308 Buyer: City of Pelham Southern Submarket SIGNIFICANT LEASES Shelby Commerce Park, Phase IV Calera, AL Size: 349,520 SF Tenant: HD Supply
  7. 7. Southwestern Submarket • • • • 2.2 million total SF 479,000 SF vacant 78% occupied Average asking rent: $3.85 PSF Changes from 2012: • Vacancy 2% • Asking rent from $3.80 PSF YTD absorption: 141,481 SF
  8. 8. Southwestern Submarket SIGNIFICANT SALES Southwestern Submarket SIGNIFICANT LEASES 200 Kilsby Circle Bessemer, AL 35022 Size: 80,937 SF Price: $2,100,000 Buyer: Deshazo Crane Co, LLC 5950 Greenwood Parkway Bessemer, AL 35022 Size: 123,631 SF Tenant: Intertec Systems 2530 Morgan Road Bessemer, AL 35022 Size: 33,332 SF Price: $1,375,000 Buyer: Steyr Arms, Inc. 4905-4983 Perimeter Parkway Bessemer, AL 35022 Size: 79,200 SF Tenant: Thyssen Krupp
  9. 9. Oxmoor Submarket • • • • 2.75 million total SF 375,000 SF vacant 86% occupied Average asking rent: $5.30 PSF Changes from 2012: • Vacancy 2% • Asking rent unchanged at $5.30 PSF YTD absorption: 88,464 SF No significant sales or leases
  10. 10. Central Submarket • • • • 3.9 million total SF 710,000 SF vacant 82% occupied Average asking rent: $3.00 PSF Changes from 2012: • Vacancy 2% • Asking rent from $3.00 PSF YTD absorption: 87,100 SF
  11. 11. Central Submarket SIGNIFICANT SALES 3101 Messer Airport Hwy Bham, AL 35203 Size: 29,998 SF Price: $1,200,000 Buyer: FR Usal FP 1300-1320 1st Ave South Bham, AL 35233 Size: 18,792 SF Price: $1,800,000 Buyer: 14th Street Baking Co 1143 1st Ave South Bham, AL 35233 Size: 115,075 SF Price: $2,500,000 Buyer: Local Investors 400 10th St South Bham, AL 35233 Size: 52,000 SF Price: $14,000,000 Buyer: UA Board of Trustees 112 14th Street Bham, AL 35203 Size: 29,998 SF Price: $1,200,000 Buyer: FR Usal FP Railroad Park Regions Field 430 12th St South Bham, AL 35233 Size: 40,850 SF Price: $6,700,000 Buyer: UAB
  12. 12. Total Submarket • • • • 14.5 million total SF 2.257 million SF vacant 84% occupied Average asking rent: $4.23 PSF Changes from 2012: • Vacancy 6% • Asking rent from $4.17 YTD absorption: 277,600 SF
  13. 13. FOR MORE INFORMATION, PLEASE CONTACT Southpace Properties, Inc. Alabama’s Largest Independent Commercial Real Estate Firm Rich Vanchina, CCIM, SIOR 300 Richard Arrington Jr. Blvd. Birmingham, AL 35203 205.326.2222 • www.southpace.com rvanchina@southpace.com

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