SW recently acquired four portfolio properties, expanding its footprint across Birmingham’s most dynamic districts.
Stewart of Alabama HQ: 4000 and 4100 Colonnade Parkway
This acquisition includes two office buildings located at 4000 and 4100 Colonnade Parkway that serve as the corporate headquarters for Stewart of Alabama. The first building is 17,705 SF, and building 2 is 22,000 SF. These office buildings are part of The Colonnade, which is home to some of Birmingham’s most distinguished professional office buildings as well as the city’s retail and hotel epicenter. Both properties were purchased with long-term tenant, Stewart Organization, in place. Andrew Patterson, CCIM of Shannon Waltchack represented the buyers.
“We are excited to acquire and manage more properties in the growing Hwy 280 / Colonnade corridor. Stewart of Alabama is a stalwart of the Birmingham business community and we look forward to partnering with them on this property,” said Managing Partner Andrew Patterson.
Former Regions Building in Vestavia: 520 Montgomery Highway
When this former Regions Bank Branch location became available SW knew the deal would move quickly. Shannon Waltchack was thrilled to acquire this property on Highway 31, which is Vestavia’s main retail artery.
“We view the Regions Branch as Vestavia ‘beachfront’ real estate. We hope to find a tenant that also appreciates the old Vestavia vibe of the architecture. Like many of the atomic ranches found in the surrounding neighborhoods, this triangular, travertine and copper clad building speaks to Vestavia’s history,” said Partner Derek Waltchack.
Southside Retail Building: 2420 4th Avenue South
This 2,400 SF retail building has excellent visibility from 4th Avenue South and the Red Mountain Expressway, with its prime location in the heart of Birmingham’s Southside District. There is a rare yet valuable private parking lot in the rear. The property was purchased vacant but leased within 60 days of buying the property.
“Southside Birmingham is continually growing and changing into one of the city’s most convenient and sought-after districts. We absolutely love owning properties in Southside,” said Partner Len Shannon, CCIM.
10th Avenue Industrial Campus: 400-410 10th Avenue
This area is full of office/showroom users buying warehouses and upgrading them to “cool spaces”. The current users want to stay in the area but have a hard time finding product. Also, apartment developers have come in and bought half blocks and displaced even more office/showroom properties This 55,000 SF campus includes 5 buildings on 4.7 acres, minutes from UAB and the thriving Parkside District. SW plans to renovate the building.
“As UAB continues growing, development activity is moving westward. This renovation will create solutions for the many users looking for warehouse space in this area,” said Broker Seth Berry, SIOR.