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CCIM Review: 2013 Industrial Market Overview
- 1. 2013 Industrial Market Review PRESENTED BY RICH VANCHINA, CCIM, SIOR Southpace Properties, Inc. www.southpace.com
- 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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