New Ideal Lofts has announced that the 3,500-square-foot ground floor commercial portion of the project has been leased to X⁴ – a new gym concept by Chris Wade, owner of the wildly successful Nexus Fitness in Homewood, AL. New Ideal Lofts is a redevelopment led by Southpace’s Kathy Okrongley and Michael Randman under New Ideal […]
Michael Randman
Investment Sales: It’s A Strong Seller’s Market
By Michael Randman In a recent Southpace Properties sales meeting, one of our brokers presented a NNN, free-standing, national credit tenant restaurant available for purchase. The broker was asking an 8 CAP for the deal. Within a few hours, he had five real offers for this well-located property that had a long lease term remaining. […]
Investors Ride The Wave In Secondary Markets, Including Birmingham
By Michael Randman, Southpace Broker According to Real Capital Analytics, investment sales surpassed $355 billion in 2013. That’s a 19 percent increase from the $299 billion in sales in 2012. What’s behind this boost in investment sales? As well described in this recent article, “Surf’s Up,” published in CCIM’s Commercial Investment Real Estate magazine, […]
