Total Skin & Beauty Dermatology Center will be opening a new medical aesthetic spa downtown appropriately named “Total on 1st”. The spa will be occupying space on the first floor of the Historic Woodward Building (former PNC Bank building), located at the corner of 20th Street and 1st Avenue North. The medical aesthetic spa concept […]
Office Market
The 411 On CAM Charges or Common Area and Maintenance Charges
If you’ve been wondering what common area and maintenance fees are and what they cover, you’re not alone. A very common question about commercial leases is, “What are common area and maintenance fees?” So let’s break it down: Common area and maintenance fees are also referred to as CAM fees and go towards the operating […]
Site Selection: Google Earth Isn’t Telling You The Whole Story
There is a major retail corridor in Alabama dotted with every major restaurant brand and retailer in the region. There are 90,000 vehicles per day, an interstate interchange, 6 million square feet of office space, a major lifestyle center, a major hospital and the residential growth just keeps going. As I write this article, there […]
Historic Zinszer Building in Downtown Birmingham Sells
The historic Zinszer Building at 2117 2nd Avenue North in downtown Birmingham, AL has sold. John Lauriello and Blake Crowe of Southpace represented the seller and Jamie Justice with Colliers International represented the purchaser. The approximately 28,000 SF, Victorian cast-iron façade building was built in 1889 by Peter Zinszer to house his “Peter Zinszer’s Mammoth […]
Valley Bank Branch Building Involved in Sale/Lease Back Transaction
The Valley Bank building at 1100 Corporate Parkway off of Highway 280 in Birmingham, AL sold recently in a sale/lease back transaction. Southpace’s Blake Crowe represented the buyer, Sumerford Holding’s in their purchase of this property. Valley Bank will continue to operate their retail branch in the building. J&M Tank Lines will occupy the rest […]
Commercial Real Estate PropTech 101
Like most industries, commercial real estate has been heavily impacted in recent years by the rapidly evolving nature of technology. One of the latest emerging innovation trends in the commercial real estate vertical? PropTech. What is PropTech? While ConTech, or construction technology, specifically targets the building industry, PropTech (as its name implies) focuses specifically on […]
Is This The End Of The Open Office Concept?
As we launch into 2019, many commercial property landlords find themselves analyzing which building trends to keep…and which ones to eliminate from their business plan altogether. One popular fad that may be on its way out in 2019? The open workstation concept. First launched in the 1960s, the open floor plan gained significant momentum in […]
Leasing vs. Buying Office Space: What’s Right For Your Business?
At some point, most business owners face one critical commercial real estate decision: to buy or not to buy? Whether you’re a new company looking for your first site or a growing organization in need of larger headquarters, choosing between leasing office space and purchasing the property outright can pose a challenging question without […]
How Telecommuting Is Changing The Landscape of Commercial Real Estate
Speed-of-light changes in technology have not only changed how we do business, but it has also forever changed where we do business. Mobile innovations have created a huge shift in the workforce, allowing employees in virtually every industry and capacity to work, well, pretty much anywhere. Recent statistics indicate that 24% of employed people […]
2017 Office Market Report with Blake Crowe
To quote Roberto Duran in his famous fight against Sugar Ray Leonard in 1980… “No Mas!!” Statistically, the Birmingham office market is simply terrible. Unfortunately, this has been the case for several years. Specifically, our office market has had negative absorption for the past three consecutive years.
