Birmingham Movers Make Big Moves in Real Estate!
In a buzzworthy turn of events, Birmingham has become the center of attention in the industrial real estate scene, thanks to a recent property acquisition that promises to shake things up! A local moving company has just snatched up an industrial property for a whopping $2.9 million.
Who’s Behind This Exciting Acquisition?
The newly acquired land, located at 400 Industrial Lane, was officially sold to 400 Industrial Lane LLC on November 20th. The buyer’s representative, Jordan Tubb of Graham & Company, revealed that this company is affiliated with Waypoint Investments. So, who exactly falls under the Waypoint umbrella? Well, it includes popular names like New Latitude Movers — also known as Move & Store, along with Motivated Movers, Changing Spaces Moving Company, and Admiral Movers based out of Montgomery.
Leading the charge are notable entrepreneurs Whit Mitchell and Will Forbes. The cherry on top? Move & Store, a current tenant at the 43,319-square-foot logistics facility, is going to stick around! Now that’s a win-win for everyone involved.
A Nod to History
The property was previously owned by the Ram Company, linked to the late Herbert Brenner, who co-founded the well-known Amarr Garage Door in Winston-Salem, North Carolina. Even after the acquisition, the Ram Company will continue operating from the Industrial Lane site. It seems like this place has a legacy!
The facility sits on an expansive 3.74 acres and is equipped with six dock-high loading doors, a drive-in ramp, and a secure fenced truck court — perfect for all kinds of industrial activities. With its ideal location in the Oxmoor submarket, it’s right next to major players like the Books-A-Million Corporate Office, SGI Logistics, and Mrs Stratton’s Salads Inc.
Surrounding Developments to Keep an Eye On!
But wait, there’s more! Just down the lane at 130 Industrial Drive, another facility housing New Latitude Movers is also in sight. Recent developments in the area are indicative of a rising trend — nearby Mayco Industries has refurbished property at 204 Industrial Drive for a staggering $5 million. The Birmingham industrial scene is on a roll!
As if that wasn’t enough action, exciting new projects are underway. Ground was recently broken for a spacious 275,000-square-foot manufacturing and warehouse facility in Jefferson Metropolitan Park McCalla. Plus, there’s construction moving forward on a massive 500-acre logistics park in Theodore. Wow, things are bustling!
What Does This All Mean for Birmingham?
While it’s clear Birmingham is thriving, it’s also worth noting that industrial vacancy rates have slightly dipped in the third quarter of 2024. However, the good ol’ magic city still boasts numbers above the national average, which recently hit a decade high. Talk about a mixed bag!
So, as Birmingham continues to expand and attract new business, this multi-million dollar deal could be a sign of even bigger things to come for our industrial landscape. Keep your eyes peeled, folks. The Birmingham real estate market is on the move, and it’s not slowing down anytime soon!
