2013 Recap


Dear Friends,

As 2013 comes to a close, we want to share with you what Shannon Waltchack has been a part of this last year.

One of the main goals we had entering 2013 was to more clearly define who Shannon Waltchack is and where we want to go. To that end, we updated our vision and mission statements and added core values. We will spend some time in 2014 detailing our core values in more detail on our blog.

VISION: We transform and enrich lives and communities through our love of real estate

MISSION: Building wealth and creating value for clients, investors and our team through strategic acquisition, effective management, and the aggressive sales and leasing of commercial real estate

CORE VALUES:  Trust, Integrity, Creativity, Fun, Commitment to Excellence, Results Driven, Process Oriented, Transparency, Service, Family First, Continual Improvement, Recognition, Teamwork

Additionally over the last year, we have focused our efforts on the following:

1. Improving brokerage services offered and enhancing the brokerage team
2. Increasing our property management portfolio while maintaining our high standard of excellence
3. Expanding our footprint through strategic acquisitions, both in Birmingham and other markets
4. Taking advantage of historically low interest rates to refinance existing assets
5. Building a better Birmingham through historic redevelopments

We are pleased to say that we have achieved all of these goals, as outlined below. 

1)  Our brokerage activity topped $60,000,000 in 2013.  More importantly, we were able to increase the depth of our brokerage services as we added the following brokers to our staff:

–  Scott Hinkle (View Bio)
–  Michael Murray (View Bio)
–  George Elliott (View Bio)

These new team members are experienced real estate professionals with over 60 years of combined experience.

2)  We continue to remain committed to excellent and effective property management and have added Paul Stone as Associate Property Manager. (View Bio)  Paul is a tremendous addition to our team and ensures our tenant requests are taken care of. 

Our management portfolio has grown by more than 20% this past year and there have been multiple process improvements to ensure our properties are performing at their full potential.   

Even as we have grown our management portfolio over the last year, the portfolio itself continues to perform exceptionally well, as we are approximately 97% occupied. 

3) Our affiliated partnerships were very active buyers in 2013 as we closed on 9 transactions valued at nearly $27,000,000 and were able to enter new markets across the Southeast.

– University Park                                     65,000 + Office/Warehouse in the UAB/Parkside District
– ABC Eastwood                                     Redevelopment for ABC in old Movie Gallery
– 7th Avenue Retail                                 20,000 SF Redevelopment in the UAB/Southside District
– Johns Creek Retail                              18,000 SF acquisition in thriving Atlanta submarket
– Shoppes of Pell City                            58,000 SF acquisition of stabilized retail center
– The Stockyard at Railroad Park          Birmingham’s first crowd sourced development
– 80 Technacenter                                  31,000 SF office building along I-85 corridor in Montgomery
– Pell City Plaza                                     105,000 SF retail center in the heart of Pell City
– Cherokee Corners                               25,000 SF Wal-Mart shadow anchored center – Centre, AL

4) We have been involved in refinancing activities totaling over $24,000,000, much of which was placed in the permanent market with limited or non-recourse debt.   This is a testament to the quality of assets currently held within our portfolio.

5)  We have spearheaded the following developments in 2013:

– The Stockyard at Railroad Park          Birmingham’s Building (Learn More)
– 2121 Highland                                     First Partners Bank (Learn More)
– 7th Avenue Retail                                UAB/Southside Redevelopment (Learn More)
– ABC Eastwood                                             Build-to-suit for ABC Board
– PT Ortho                                             The Hollywood

As we are out of space in our own office, we will be moving into The Stockyard in 2014.  We are excited about what is to come, and believe our best days are still ahead.

We continue to stay active with social media, so please visit our Blog, become a fan on Facebook and follow us on LinkedIn and Twitter, for the most up-to-date information about commercial real estate.

We are thankful for all of our trusted clients, investors, tenants, vendors, and friends and we look forward to working with you in 2014.

We are thankful for all of our trusted clients, investors, tenants, vendors, and friends and we look forward to working with you in 2014.

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by Suzanne Echols