Birmingham saw some huge commercial real estate deals last year, and our newest List research spotlights the 25 priciest commercial sales inked in the area during 2017.
We’ve recapped the top five commercial sales in metro Birmingham below, and our full ranking is available to subscribers here. Figures are based on public records information gathered by American City Business Journal Leads.
Rising values for the top 25 sales on our Lists has been a persistent trend in recent years. The average value of sales on our new List is $22.3 million, up by 19.3 percent from our prior ranking. The top 25 transactions range from $5.9 million to nearly $60 million in value.
The sale of Cahaba Village, a retail center on U.S. 280, is the priciest transaction on the List. The property was purchased for $59.9 million by Cahaba Village Properties LLC, which is registered to an investment firm in Dallas, Texas. Major tenants at Cahaba Village include Whole Foods, Bryant Bank and Newk’s.
We’ve recently reported that construction is poised for rapid growth in Birmingham and across Alabama this year, although rising construction costs could also affect activity in the area. Experts are watching north Birmingham especially closely due to commercial growth opportunities presented by mega projects like Topgolf.
For a closer look on what to expect for local real estate in 2018, check out our coverage of what local experts predict for the market here.
Top of the List
These are the five priciest commercial sales from our newest List, ranked by sale amount.
5) Wildwood Pkwy. office building (220 Wildwood Parkway): $30.13 million
4) Wildwood Pkwy. office complex (220/210/220 Wildwood Parkway): $34.4 million
3) Station 121 apartment development and property (2000 2nd Ave. S.): $55.2 million
2) Vestavia Hills City Center (700 Montgomery Highway): $56.5 million
1) Cahaba Village retail center (multiple addresses): $59.95 million
If you’re a fan of Lists like this one, be sure to check out our recap of the priciest Birmingham home sales from 2017. A subscription to the BBJ earns you full access to every List, along with our exclusive premium coverage of Birmingham’s business developments.
For questions about the List or to be considered for any future ones, reach out to email@example.com.