ccim review: 2013 industrial market overview
DESCRIPTION
2013 Industrial Market OverviewTRANSCRIPT
2013 IndustrialMarket Review
Southpace Properties, Inc.
www.southpace.com
PRESENTED BY RICH VANCHINA, CCIM, SIOR
Birmingham Industrial Submarkets
Eastern Submarket
• 1.8 million total SF• 218,000 SF vacant• 88% occupied• Average asking rent: $4.25 PSF
YTD absorption: 7,800 SF
Changes from 2012: • Occupancy unchanged
• Asking rent from $4.09 PSF
SIGNIFICANT SALES SIGNIFICANT LEASES
2630 5th Avenue SouthIrondale, AL 35210
Size: 92,000 SFPrice: $1,650,000
Buyer: Shaffer Sports & Events
3200 Pinson Valley ParkwayBirmingham, AL 35217
Size: 153,310 SFPrice: $2,200,000
Buyer: Royal Cup, Inc.
Eastern Submarket Eastern Submarket
1401 Meadowcraft RoadBirmingham, AL 35215
Size: 90,000 SFTenant: United Pipe & Steel Corp
4280 Pinson Valley ParkwayBirmingham, AL 35215
Size: 80,000 SFTenant: Tubular Products 6
Southern Submarket
• 3.9 million total SF• 475,000 SF vacant• 88% occupied• Average asking rent: $4.75 PSF
YTD absorption: 71,000 SF
Changes from 2012:• Vacancy 2%
• Asking rent from $4.65 PSF
SIGNIFICANT SALES SIGNIFICANT LEASES
3140 Pelham ParkwayPelham, AL 35124
Size: 429,615 SFPrice: $2,892,308
Buyer: City of Pelham
Southern Submarket Southern Submarket
Shelby Commerce Park, Phase IVCalera, AL
Size: 349,520 SFTenant: HD Supply
Southwestern Submarket
• 2.2 million total SF• 479,000 SF vacant• 78% occupied• Average asking rent: $3.85 PSF
YTD absorption: 141,481 SF
Changes from 2012:• Vacancy 2%
• Asking rent from $3.80 PSF
SIGNIFICANT SALES SIGNIFICANT LEASES
200 Kilsby CircleBessemer, AL 35022
Size: 80,937 SFPrice: $2,100,000
Buyer: Deshazo Crane Co, LLC
2530 Morgan RoadBessemer, AL 35022
Size: 33,332 SFPrice: $1,375,000
Buyer: Steyr Arms, Inc.
Southwestern Submarket Southwestern Submarket
5950 Greenwood ParkwayBessemer, AL 35022
Size: 123,631 SFTenant: Intertec Systems
4905-4983 Perimeter ParkwayBessemer, AL 35022
Size: 79,200 SFTenant: Thyssen Krupp
Oxmoor Submarket
• 2.75 million total SF• 375,000 SF vacant• 86% occupied• Average asking rent: $5.30 PSF
YTD absorption: 88,464 SF
Changes from 2012: • Vacancy 2%
• Asking rent unchanged at $5.30 PSF
No significant sales or leases
Central Submarket
• 3.9 million total SF• 710,000 SF vacant• 82% occupied• Average asking rent: $3.00 PSF
YTD absorption: 87,100 SF
Changes from 2012: • Vacancy 2%
• Asking rent from $3.00 PSF
SIGNIFICANT SALESCentral Submarket
1300-1320 1st Ave SouthBham, AL 35233
Size: 18,792 SFPrice: $1,800,000
Buyer: 14th Street Baking Co
430 12th St SouthBham, AL 35233
Size: 40,850 SFPrice: $6,700,000
Buyer: UAB
400 10th St SouthBham, AL 35233
Size: 52,000 SFPrice: $14,000,000
Buyer: UA Board of Trustees
3101 Messer Airport Hwy Bham, AL 35203
Size: 29,998 SFPrice: $1,200,000Buyer: FR Usal FP
1143 1st Ave SouthBham, AL 35233Size: 115,075 SFPrice: $2,500,000
Buyer: Local Investors
112 14th StreetBham, AL 35203
Size: 29,998 SFPrice: $1,200,000Buyer: FR Usal FP
Railroad Park
Regions Field
Total Submarket
• 14.5 million total SF• 2.257 million SF vacant• 84% occupied• Average asking rent: $4.23 PSF
YTD absorption: 277,600 SF
Changes from 2012: • Vacancy 6%
• Asking rent from $4.17
300 Richard Arrington Jr. Blvd. Birmingham, AL 35203205.326.2222 • [email protected]
Rich Vanchina, CCIM, SIOR
Alabama’s Largest Independent Commercial Real Estate Firm
Southpace Properties, Inc.
FOR MORE INFORMATION, PLEASE CONTACT