Birmingham Welcomes a New Facility: Mayco Industries Expands Its Footprint!
Hey there, Birmingham! Exciting news in our local manufacturing scene! Just last week, Mayco Industries made a splash by acquiring a new facility right here in town for a cool $5 million. This purchase marks a significant expansion for the company, which already operates a lead alloy mill at 18 W Oxmoor Road. Looks like they’ve got big plans ahead!
What’s the Scoop on the New Spot?
The property they snapped up, located at 204 Industrial Drive, is no small potato. It stretches out over 68,742 square feet with a spacious 6.8 acres of land. The facility includes seven loading doors and a drive-in ramp, making it ideal for their manufacturing processes. Plus, there’s a nifty 3,150-square-foot office space that’s ready for some serious work to take place!
Now, you’re probably wondering who sold this prime piece of real estate, right? Well, it was Ares Industrial Management, an offshoot of California-based Ares Management, which had purchased the facility for $4 million just back in June 2022. Before Ares got their hands on it, this place was doing business as a distribution center for S.P. Richards, a wholesaler that packed up and left Birmingham earlier this year.
The History of Mayco Industries
Mayco Industries has quite the story. It was created back in 2002 when Mayfield Manufacturing of Homewood and Metalico Inc. from Cranford, New Jersey decided to join forces. Fast forward to 2014, and Mayco acquired the West Oxmoor facility for $1.5 million, solidifying its presence in our community. The company specializes in manufacturing and distributing essential lead products like plumbing, radiation shielding, weights, and even ammunition! Talk about a versatile player in the manufacturing field!
What’s Happening Nearby?
As Mayco Industries gears up for action at their new location, the industrial vibes in Birmingham are strong. Just a stone’s throw away from this latest acquisition, there are other facilities buzzing with activity. You’ve got House of Threads and Birmingham Rubber and Gasket just around the corner, plus nearby neighbors like Quikrete, Aabco Rents – Party Goods, and Edwards Equipment Sales Inc.. Birmingham’s industrial landscape is truly coming alive!
The Broader Picture
In the realm of industrial real estate lately, Birmingham has seen quite a bit of movement. There’s been new ground broken on a massive 275,000-square-foot manufacturing and warehouse facility in Jefferson Metropolitan Park McCalla. Even a commercial real estate firm snagged an office/warehouse in downtown Birmingham for $1.23 million. Who said our city doesn’t know how to attract some serious business?
While it’s great news that vacancy rates dipped slightly in the third quarter of 2024, Birmingham’s industrial vacancy still lingers above the national average, which recently hit a 10-year high. But with new operations like Mayco expanding, who knows? We might just turn the tides soon!
Closing Thoughts
All in all, it looks like Birmingham’s manufacturing sector is on the rise, and businesses like Mayco Industries are at the forefront of this change. With their new facility, we can expect more local jobs and a stronger economy. Who else is excited about what’s to come?
