market survey | huntsville...huntsville, alabama huntsville industrial market overview 1 2016 [ 22.4...

2016

M A R K E T S U R V E Y | H U N T S V I L L E

Polaris Plant | Photography by SellersPhoto

Industrial Market Overview . . . . . . . . . 1

Jetplex Industrial. . . . . . . . . . . . . . . . . 2

North|Central Huntsville Industrial . . . . 3

Chase Industrial . . . . . . . . . . . . . . . . . . 4

Office Market Overview . . . . . . . . . . . 5

Central Business District Office . . . . 6

Jetplex | Madison Office . . . . . . . . . . 7

Cummings Research Park Office . . . 8

Cummings Research Park Map . . . . . 10

Retail Map. . . . . . . . . . . . . . . . . . . . . . . 12

Retail Market Overview . . . . . . . . . . . 14

Recent Graham Activities . . . . . . . . . 17

For Sale or Lease. . . . . . . . . . . . . . . . . 20

Graham Huntsville Group. . . . . . . . . . 23

TA B L E O F C O N T E N T S

The 2015 Huntsville commercial real estate market performed well in the industrial and retail

sectors. The office market, however, continued to lag, but it appears the worst might be over

and some improvements should be seen by the end of 2016.

The industrial market vacancy rate fell to 7.60%, the lowest rate the Huntsville market has seen

since 2008. The Polaris plant announcement (front cover) was great news for the area and has

led to several new suppliers moving to the Huntsville market. The GE Aviation announcement

should also help decrease the amount of industrial supply in the area.

The retail market remained active with several new retailers, including Cabela’s, Whole

Foods and At Home, opening in 2015. The largest new development was the purchase of 200

acres from Intergraph Corporation for the planned Town Madison development. The biggest

redevelopment transaction for the year was the purchase of the struggling Madison Square Mall.

Vacancy rates for the overall office market rose again in 2015 to 19.31%, while the multi-

tenant vacancy rate increased to 25.03%. Class-A office buildings fared the slowdown well with

vacancies remaining below 8%. Absorption was positive for the year, hopefully signaling that a

slow recovery is beginning.

GRAHAM REPORT 2016HUNTSVILLE, ALABAMA

HUNTSVILLE INDUSTRIAL MARKET OVERVIEW

1

2016[ 22.4 MILLION SF TOTAL ]

OVERALL VACANCY 7.06%

SINGLE TENANT 2.27%

MULTI-TENANT 22.69%

Industrial Market Overview

G R A H A M & C O M PA N Y | 2 0 1 6 M A R K E T S U R V E Y | H U N T SV I L L E

2015INDUSTRIAL MARKET TOTAL SF VACANT SF 2011 2012 2013 2014 2015

SINGLE TENANT 17,171,071 SF 389,914 SF 10.82% 9.89% 7.78% 3.36% 2.27%

MULTI-TENANT 5,261,612 SF 1 ,193,627 SF 16.97% 17.35% 17.52% 27.22% 22.69%

TOTAL INDUSTRIAL 22,432,683 SF* 1,583,541 SF 12.28% 11.62% 10.03% 8.97% 7.06%

VACANCY RATEHUNTSVILLE

INDUSTRIAL ABSORPTION

2015 INDUSTRIAL MARKET

VACANCY RATE

HUNTSVILLE

INDUSTRIAL ABSORPTION

INDUSTRIALMARKET

SINGLETENANT

MULTITENANT

OVERALL

JETPLEX 1% 27.45% 9%

NORTH | CENTRAL 9.97% 5.26% 8.95%

CHASE 0% 0% 0%

* This number includes some industrial properties that do not fit within a certain submarket, but are an integral part of Huntsville’s industrial landscape.

INDUSTRIAL: Vacancy for the Huntsville industrial market fell to 7.06% in 2015, declining for the 5th consecutive year. This marks the lowest vacancy rate since 2008 and a 5.2% improvement since the highs reached in 2012. Huntsville vacancy is below the national average of 9.4%.

The national industrial market also experienced continued growth in 2015. The national vacancy av-erage has now dropped for twenty-three consecutive quarters since the rate peaked at 14.6% in the 2nd quarter of 2010. The strong dollar and rising imports have led to expansion in the industrial market. Na-tional forecasts are predicting lower vacancy rates and a 5.6% increase in rental rates for 2016.

The Huntsville industrial market had 497,000 sf of absorption in 2015, continuing a four year trend of positive absorption. Over 1.6 million sf have been absorbed in the market since 2012. The national ab-sorption was 238 million sf for the year. The market has experienced twenty-three quarters of consecu-tive positive net growth, the longest streak in over 20 years.

New construction for industrial buildings was a hot sector in 2015 with over 183 million sf under construction at year-end. This tightening of available supply led to an increase in rents of 3.7%, and rates are expected to climb again in 2016.

The investment market for industrial product had a record year in 2015 with over $58 billion in transac-tions. The demand for industrial facilities continues to drive the value of assets up and the average cap rates nationally are now at 6.7%.

Industrial Announcements of Note:

• Polaris announced plans to build a 600,000 sf manufacturing facility near the Greenbrier exit that will produce off-road vehicles and employ over 2,000 employees when fully operational. The $142 million project broke ground in early 2015 and is expected to be completed in 2016.

• GE Aviation announced development plans for a $136 million at the Greenbrier Road exit in Huntsville-annexed Limestone County. Plans call for construction of two adjoining factories on the 100-acre site.

2

Jetplex Industrial Market

G R A H A M & C O M PA N Y | 2 0 1 6 M A R K E T S U R V E Y | H U N T S V I L L E

[ 12.6 MILLION SF TOTAL ]

OVERALL VACANCY 9%

SINGLE TENANT 1%

MULTI-TENANT 27.45%

KOHLER Founded in 1873, Kohler is a leader in the kitchen

and bath industry.

Vacancy for Jetplex Industrial Park decreased to

9% in 2015, representing a better than 4% drop since

2013’s rate of 13.02%. This trend should continue into 2016 as new suppliers enter the market.

Jetplex Industrial Park is Huntsville’s largest in-dustrial base and represents 58% of the Huntsville industrial market. Jetplex Industrial Park is com-prised of several smaller markets that surround the Huntsville International Airport and the Intermodal Center. Jetplex Industrial Park contains 1,470 acres and offers Foreign Trade Zone #83, U.S. Customs Port of Entry and interstate access via I-565. Jetplex South Industrial Park contains 1,400 acres and is located just south of Jetplex Industrial Park. Lowe Industrial Park is a 900-acre park originally designed to encompass the growth of Intergraph Corporation.

Recent Developments:

• Kohler Company purchased two adjacent buildings on Cochran Road totaling 201,000 sf. The property also includes 21.7 acres of land and is located across the street from the existing Kohler plant.

• CDS-John Blue Company purchased a 63,334 sf building at 165 Electronics Boulevard. The company moved its main operations into the building where it will manufacture agricultural and industrial pumps.

• Local Leaders announced a successful series of preliminary studies to assess the feasibility of landing Sierra Nevada Corporation’s (SNC) Dream Chaser® spacecraft at Huntsville International Airport. The preliminary study examined the compatibility of SNC’s Dream Chaser® spacecraft with the existing runway and taxiway environments.

• 124 Electronics Circle, comprised of 20,875 sf, was purchased by Peridot Properties, LLC in November of 2015 for $28.93 psf. The facility was built in 1989 and sits on 4.5 acres of land.

Major Area Tenants Include:

Kohler, Remington, Yulista, SES and Georgia Pacific.

3G R A H A M & C O M PA N Y | 2 0 1 6 M A R K E T S U R V E Y | H U N T SV I L L E

North | Central Huntsville Industrial Market

GRAYBAR

Graybar is a leading distributor of data network

solutions, electrical supplies, industrial tools,

safety products, security equipment, commercial

and industrial lighting.

Vacancy for the North/Central Huntsville indus-

trial market dropped from 11.20% in 2014 to 8.95%

in 2015. This market is comprised of just over 4.6 million sf and represents 20% of the total Huntsville industrial market. Most buildings in this area have a smaller footprint than buildings in Jetplex or Chase industrial parks. Spacegate Industrial Park resides within this market.

There are many recently constructed buildings in this market located along the Highway 53 corridor with good access to North Alabama and Southern Tennessee. The tenant mix in the area consists of com-panies in the automobile industry, local and national service companies and defense companies.


• 116 Spacegate Drive, a 12,000 sf building in Spacegate, sold for $565,000 to a user. Constructed in 2011, the property sits on .84 acres of land.

• 114 Skylab Drive, an 11,385 sf facility in Spacegate, built in 2011, situated on 2.3 acres of land sold for $690,000 in May of 2015 to a building supply company.

• The former Chrysler facility on Wynn Drive sold for $1,800,000 in March of 2015 to the Sharp Com-panies. The 232,054 sf, 35-acre site was originally built in 1976. Calhoun Community College recently purchased 10 excess acres to construct an addition to its existing campus.

• 1505 The Boardwalk, an 85,000 sf building built in 1985, sold for $3,000,000.

• A 32,674 sf facility located at 6515 University Drive sold for $2.8 million to Hartlex Enterprises Inc.

Hartlex Antiques moved its operations to the facility.


Toyota, Verizon Wireless, Ferguson, Graybar and DirecTV.



SINGLE TENANT 9.97%

MULTI-TENANT 5.26%

4

Chase Industrial Market


OVERALL VACANCY 0%

SINGLE TENANT 0%

MULTI-TENANT 0%


The vacancy rate for Chase Industrial Park was

0% in 2015, down from the previous year’s 1.29%

vacancy number. Chase represents 22% of the entire Huntsville industrial market.

Chase Industrial Park is a 1,700-acre park located in northeast Huntsville that was developed by the Madison County Commission. Chase Park is com-prised, almost exclusively, of single tenant employers. Fifty acres remain available for new development. Products manufactured in the park include medi-cal instruments, DVD, copper plastic products and pharmaceuticals.


• A 66,000 sf industrial building at 1236 Jordan Road was leased to Cherokee Nation Red Wing.


J and J South Central, Qualitest Pharmaceuticals, PPG Industries, Technicolor, Schwarze Industries, Available Plastics, Hart & Cooley and Kommerling.

CHEROKEE NATION RED WING

CNRW provides operations and maintenance,

manufacturing, engineering, program manage-

ment and professional services to a broad range

of government contractors and agencies.


Office Market Overview

[18.7 MILLION SF TOTAL]


SINGLE TENANT 13.14%

MULTI-TENANT 25.03%

HUNTSVILLE OFFICE MARKET OVERVIEW

2015OFFICE MARKET TOTAL SF VACANT SF 2011 2012 2013 2014 2015

SINGLE TENANT 8,878,497 SF 1,166,607 SF 3.54% 4.81% 5.09% 10.79% 13.14%

MULTI-TENANT 9,840,977 SF 2,463,289 SF 13.84% 20.02% 25.64% 24.83% 25.03%

TOTAL OFFICE 18,719,474 SF 3,629,896 SF 8.71% 12.55% 15.47% 18.02% 19.31%

VACANCY RATE

OFFICE: Huntsville’s office market vacancy rose again in 2015 to 19.31%, making this the 4th con-secutive year of increases. The national vacancy rate declined to 13.40%, marking the 3rd year in a row that Huntsville’s office vacancy rate was above the national average.

The office market had 164,000 sf of absorption in 2015. This is the 1st positive signal the Huntsville market has seen in a couple of years and might mark the beginning of a slow, steady turnaround for office product.

Huntsville office vacancies in Cummings Re-search Park (CRP) have been negatively affected by a slowdown in defense spending and the downsiz-ing of office space needs for government contractors. Overall vacancy in CRP increased to 15.04%, while multi-tenant vacancy in CRP rose to 24.24%.

Over 65 million sf of office buildings were built nationally last year, but it appears construction for new office space will soften some in 2016. New construction in the Huntsville office market was once again slow in the CRP market but is active in the CBD with several mixed-use projects underway.

2015 OFFICE MARKET

VACANCY RATE

HUNTSVILLE

OFFICE ABSORPTION

OFFICEMARKET

SINGLETENANT

MULTI -TENANT

OVERALL

CUMMINGSRESEARCH PARK

9.12% 24.24% 15.04%

JETPLEX/MADISON 56.82% 39.16% 44.23%

CENTRALBUSINESS DISTRICT 12.86% 17.98% 17.46%

Average rental rates in Huntsville remain fairly steady in the Class-A and Class-B inventory with annual increases averaging in the 2.5% to 3% range. Rent concessions are still being offered to help fill the existing vacant space.

Office Announcements of Note:

• The City of Huntsville and the Huntsville/Madison

County Chamber of Commerce announced plans to develop a new master plan for Cummings Research Park. CRP has seen a substantial rise in vacancy rates, specifically in older Class-C inventory. The new plan will allow for different zoning in various parts of CRP.

• Torch Technologies, Inc. began renovation of two existing office buildings in South Huntsville. The $10 million plan will allow for the renovation, as well as the construction of a new corporate head-quarters and large conference center.

6

Central Business District (CBD) Office Market




MULTI-TENANT 17.98%

TWICKENHAM SQUARE

Twickenham Square features a 5-story,

110,000 sf medical office building that connects

to Huntsville Hospital.


The Huntsville Central Business District (CBD)

consists of approximately three million sf and is

dominated by the business services sector including law firms, banking, accounting and real estate companies. City, county and government employees also call the downtown Central Business District (CBD) home.

Vacancy in the CBD market decreased slightly to 17.46% in 2015, down from 2014’s rate of 18.38%. Multiple mixed-use projects are under construction that will increase inventory of Class-A office space in the market. With vacancy in Class-A product low at 11.75%, new space should be absorbed quickly.


• Huntsville Hospital purchased a Class-C, 8,372 sf medical office building on Saint Clair Avenue. The building was built in 1960 and will be razed to make room for hospital expansion needs.

• The Broadway Group purchased the PNC Bank building located in the medical district at 2204 Whitesburg Drive. The 22,131 sf multi-tenant facility was originally constructed in 1979.

• Maynard Cooper & Gale expanded its office foot-print in downtown Huntsville by leasing the 2nd floor of a newly constructed office building on Fountain Row. The two buildings are connected by an elevated walkway.


Huntsville Hospital, Lanier Ford, Regions Bank, BB&T, The City of Huntsville, Bradley Arant Boult & Cummings.

MADISON MEDICAL I

Madison Medical I is a Class-A, 3-story,

60,000 sf medical office building in close

proximity to Madison Hospital.


Jetplex | Madison Office Market




MULTI-TENANT 39.16%

Vacancy for the Jetplex/Madison office market increased

slightly in 2015 to 44.23%. This marks a substantial increase

over the 12.3% rate in 2012. The two largest office users in the market, Boeing and Intergraph, have both consolidated office space recently. Boeing leased 330,000 sf at the Redstone Gateway facility in 2013 that pulled some employees out of the Jetplex market.

Madison is one of the fastest growing cities in Alabama and the demand for medical and business services has remained strong. Many bank branches and medical related facilities have been built in the Madison market in the last three years. Both Huntsville Hospital and Crestwood now have a presence in Madison.

New Developments:

• The Breland Companies’ partial purchase of Intergraph’s

campus should lead to the demolition of 660,000 sf of the older, Class-C office product that was carrying high vacancies. This would have an immediate positive impact on the area’s vacancy rates.

• Two new tenants leased space in Madison Research Park, totaling over 40,000 sf. Located just north of Highway 20, the park has over 180,000 sf of office space.


Intergraph, Boeing, Madison Hospital, Progress Bank and Platinum Mortgage.

8 G R A H A M & C O M PA N Y | 2 0 1 6 M A R K E T S U R V E Y | H U N T S V I L L E

Cummings Research Park Office Market



SINGLE TENANT 9.12%

MULTI-TENANT 24.24%

HUDSONALPHA INSTITUTE

Under the leadership of Richard Myers, PhD,

HudsonAlpha connects four endeavors - research

driven discovery, education, genomic medicine

and entrepreneurship - into a single enterprise -

making it one of the most unique areas for

genomic discovery in the country.

LOGICORE

LogiCore delivers comprehensive systems and

software engineering services, system design

and development, information technology

solutions, program support services and life

cycle logistics services to its clients.

Office vacancy in Cummings Research Park (CRP)

rose to 15.04% in 2015, a sizeable increase over 2012’s vacancy rate of 8.94%. Multi-tenant vacancy was 24.24%.

Most increases in office vacancy have been lo-cated in older, Class-C product. The overall vacancy for Class-C office space was 34.52% versus Class-A overall vacancy of 3.50%.

The vacancy rate for Class-A multi-tenant space was 3.09%, while Class-C multi-tenant space was 39.17%. This wide variation in rates by office class has prompted discussions on ways to improve the overall product offered in CRP. A Cummings Re-search Park Master Plan team, working closely with the City of Huntsville, has been developing a new master plan to benefit CRP. The plan calls for changing the allowed uses in certain zones within the park. This will aid in decreasing the vacancy rate and increasing the amount of mixed-use product.

Most companies in CRP have acted in a support role to meet the various demands for the military in-stallations located on Redstone Arsenal. CRP is the largest office market in Huntsville and represents over 70% of the total Huntsville office market. Cum-mings Research Park is the 2nd largest research park in the United States.


Cummings Research Park Office Market

DYNCORP

The DynCorp International team combines

extensive real-world experience with resourceful,

innovative planning to support mobilization,

operational readiness, sustainment and

development worldwide.

DYNETICS

Dynetics provides superior-quality high-tech

products and services ethically, responsively, and

cost-effectively to the national security, satellite,

launch, automotive, cybersecurity and critical

infrastructure sectors.


• GATR Technologies was purchased by Cubic Cor-poration for $232.5 million. The transaction should close in 2016. GATR manufactures next-generation satellite communication terminal solutions.

• Lockheed Martin purchased a 166,947 sf Class-A building at 4800 Bradford Drive. The building sold for $140 psf. Lockheed Martin is the only tenant in the building.

• DynCorp moved its new headquarters into the Class-A building at 310 Bridge Street, leasing over 17,000 sf. The company was started in Huntsville in 2007.

• Verizon Wireless announced that it will be hiring 200 new employees for its call center located on Quality Circle. The $44 million call center is Verizon’s state headquarters. • According to a study by University of Alabama in

Huntsville, the HudsonAlpha Institute has had an economic impact on Alabama of $1.3 billion since its inception in 2006. The study also stated that Hud-sonAlpha has generated 1,177 jobs. Total payroll for the center was $66 million in 2014.

• US Diagnostics of Huntsville was purchased for $60 million by Alere. USD makes devices for use in pre-employment drug and alcohol screening. The company is located in the Village of Providence.


ADTRAN, Northrop Grumman, Lockheed Martin, SAIC, BAE Systems, Dynetics, Camber Corporation, Aegis Technologies, LogiCore and numerous other high-tech companies.

CU

MM

ING

S R

ES

EA

RC

H P

AR

KH

UN

TS

VIL

LE

, A

LA

BA

MA

CRP WEST

Ce

nte

r o

f A

tte

nti

on

...

CRP EAST

MA

JO

R R

ET

AIL

ST

OR

ES

HU

NT

SV

ILL

E,

AL

AB

AM

AO

ne

of

Fo

rbe

s L

ea

din

g C

itie

s f

or

Bu

sin

ess..

.

2015RETAIL MARKET TOTAL SF VACANT SF 2012 2013 2014 2015

UNIVERSITY WEST 4,087,149 SF 765,809 SF 14.83% 16.57% 19.86% 18.74%

HIGHWAY 72/MADISON 2,780,223 SF 170,546 SF 6.74% 5.92% 7.32% 6.13%

JONES VALLEY/HAMPTON COVE 2,092,677 SF 70,100 SF 2.53% 2.80% 3.0% 3.55%

SOUTH HUNTSVILLE 2,702,164 SF 270,677 SF 6.75% 7.55% 10.70% 10.02%

NORTH HUNTSVILLE/HARVEST 1,902,200 SF 351,778 SF 10.06% 14.62% 19.01% 18.49%

TOTAL RETAIL 13,564,413 SF 1,628,910 SF 9.05% 10.27% 12.92% 12.01%

VACANCY RATE


Retail Market Overview

HUNTSVILLE RETAIL MARKET OVERVIEW

[13.6 MILLION SF TOTAL]


RETAIL: The Huntsville retail market performed well in 2015 with vacancy declining to 12.01% from the previous year’s rate of 12.92%. Older enclosed malls and large retail box centers accounted for most of Huntsville’s vacancy.

Rents rose again in 2015 on the national level, and Huntsville has seen rates of $30± psf in newer cen-ters. Many retailers have been developing plans to downsize brick-and-mortar space in an effort to re-duce overall rental cost and increase sales psf.

New construction continues to remain active in the Huntsville market. Two large mixed-use de-velopments are under construction in downtown Huntsville, and Providence is expanding its footprint as well. New retail continues to be added along the Highway 72 corridor in Madison. Vacancies remain low in the Jones Valley/Hampton Cove market and several new projects are expected to be announced in 2016.

Huntsville recorded positive absorption again in 2015 with a net gain of 224,000 sf. Over 670,000 sf of retail space having been absorbed in the market in the last two years.

Vacancy rates dropped in four of Huntsville’s five

retail markets. Jones Valley/Hampton Cove was the only market with an increase rising .55% to 3.55%.New development will continue in this market as the vacancy is low and buying power remains high.

The Highway 72/Madison market has a vacancy rate of 6.13% and continues to expand west through Madison and towards the County Line Road and Athens, Alabama areas.

Vacancy in Huntsville’s largest submarket, Uni-versity West, decreased to 18.74%. Two large strip centers in this submarket were purchased in 2015, and the new owners are aggressively seeking to rede-velop and release these centers. The redevelopment of Madison Square Mall should, once completed, have an immediate impact on the high vacancy rates in this market.

The North Huntsville/Harvest market, helped in large part by the backfilling of the former Kmart space by At Home, decreased to 18.49%. New con-struction remains light in this market.

South Huntsville vacancy dropped to 10.02% and should continue to improve once the construction project on South Parkway is completed, which is slated for 2018.



RETAIL O CCUPANCY BY TYPE

CABELA’S

Cabela’s opened its first store in Alabama, an

80,000 sf retail showroom serving outdoor

enthusiasts in northern Alabama and southern

Tennessee.

CAMPUS N0. 805

Campus No. 805, the former Stone Middle School

redevelopment, is a 13-acre mixed-use project

including two craft breweries, a public

recreational lawn and special event venues.

RETAIL OCCUPANCY BY TYPE

2015 Activity:

• The $400 million Town Madison mixed-use proj-ect grew by 200 acres with the purchase of a portion of the Intergraph campus. Breland Companies pur-chased the property and will give the project more than two miles of frontage along interstate I-565.

• Cabela’s grand opening was held in September of 2015 for thousands of new customers. The 82,000 sf store features a boat shop, aquarium, indoor archery range, gun library and a fudge shop.

• The Westbury Square Shopping Center on Air-port Road sold for $23.4 million by Inland Real Es-tate. The 115,000 sf center is fully leased and includes T.J. Maxx, SteinMart and Michaels.

• The struggling Madison Square Mall sold to an in-vestor and will be completely redeveloped.



RETAIL VACANCY RATE BY TYPEHUNTSVILLE RETAIL

ABSORPTION

TOTAL RETAIL SF BY MARKET TOTAL RETAIL SF BY TYPE

2015

T YPE VACANCY RATE

NEIGHBORHOOD 10.19%

NEIGHBORHOOD/ANCHORED 10.39%

POWER CENTER 7.72%

ENCLOSED MALL 24.49%

LARGE BOX 13.13%

TOTAL 12.01%

HUNTSVILLE RETAIL

ABSORPTION

Announcements of Note:

• Dick’s Sporting Goods announced plans to open a new store at Bridge Street Town Centre, backfilling the 47,000 sf space vacated by Sports Authority.

• Yellowhammer Brewing, Straight to Ale and

Earth and Stone were announced as the first ten-ants for Campus No. 805.

• The former Star Market building on Bailey Cove Road will soon be home to a Walmart Neighbor-

hood Market. Walmart spokeswoman, Amanda

Henneberg, confirmed that the retail giant plans to build a 40,000 sf store at 9020 Bailey Cove Road SE. It will be the first development at the property since Star Market closed in October 2014.

• A new 92-room Hampton Inn & Suites will be built in the Providence development. The 4-story hotel will also include a new 2,000 sf Taco Mama restaurant. The project is expected to be completed by the 3rd quarter of 2016.


Recent Graham Activities

100 QUALITY CIRCLE

52,523 SF – 100 Quality Circle Huntsville, ALGraham represented Wyle in its lease of office space. Agent: Tyler Fanning

LEASED

301 VOYAGER WAY

110,275 SF – 301 Voyager Way Huntsville, ALGraham represented Northrop Grumman in its lease of office space in Cummings Research Park. Agent: Bart Smith, CCIM, SIOR

LEASED

310 THE BRIDGE STREET

10,280 SF – 310 The Bridge Street Huntsville, ALGraham represented Aerotek/Teksystems in leasing space at Bridge Street.Agents: Bart Smith, CCIM, SIOR & Tyler Fanning

LEASED

3610 MERIDIAN STREET

58,000 SF – 3610 Meridian Street Huntsville, ALGraham represented the owner in the disposition of this industrial building. Agent: Jeremy Pope, CCIM, SIOR

SOLD

JETPLEX CENTER

5,014 SF – Jetplex Center Huntsville, ALGraham represented both landlord and tenant in Southern Siding’s lease of space at Jetplex Center. Agents: Jeremy Pope, CCIM, SIOR & Chris Jackson

LEASED

TWICKENHAM SQUARE

1,299 SF – Twickenham Square Huntsville, ALGraham represented 9Round Fitness in its lease for its first Huntsville location.Agent: Jeremy Pope, CCIM, SIOR

LEASED



reduced to 48%

SOLD

893 COX CREEK PARKWAY

2,430 SF – 893 Cox Creek Parkway Florence, ALGraham represented the owner in the disposition of this former car wash facility.Agent: Tyler Fanning

1021 PRODUCTION COURT

33,000 SF – 1021 Production Court Madison, ALGraham represented DRS in its lease of office/warehouse space. Agent: Tyler Fanning

LEASED

1038 RESEARCH BOULEVARD

20,000 SF – 1038 Research Boulevard Madison, ALGraham represented Huntsville Hospital in its lease of office space at Madison Research Park West. Agent: Jeremy Pope, CCIM, SIOR

1038 RESEARCH BOULEVARD

20,000 SF – 1038 Research Boulevard Madison, ALGraham represented Huntsville Hospital in its lease of office space at Madison Research Park West. Agent: Jeremy Pope, CCIM, SIOR

LEASED

6767 OLD MADISON PIKE

16,055 SF – 6767 Old Madison Pike Huntsville, ALGraham represented Booz Allen Hamilton in its lease of office space at Progress Center. Agents: Bart Smith, CCIM, SIOR & Tyler Fanning

LEASED

10019 MEMORIAL PARKWAY

0.75 Acre – 10019 Memorial Parkway Huntsville, ALGraham represented the buyer in the disposition of this land parcel to the Dairy Queen franchisee. Agent: Jeremy Pope, CCIM, SIOR

SOLD

7219 GREENBRIER ROAD

5,000 SF – 7219 Greenbrier Road Madison, ALGraham represented the owner in leasing this office/warehouse space to AIT.Agent: Jeremy Pope, CCIM, SIOR

LEASED



7272 GOVERNORS WEST

44,000 SF – 7272 Governors West Huntsville, ALGraham represented Dynetics in its lease of industrial space.Agent: Bart Smith, CCIM, SIOR

LEASED

420 JAN DAVIS DRIVE

30,000 SF – 420 Jan Davis Drive Huntsville, ALGraham represented Rockwell Collins in its lease of office space in Cummings Research Park. Agent: Bart Smith, CCIM, SIOR

LEASED

2775 WALL TRIANA HIGHWAY

27,600 SF – 2775 Wall Triana Highway Huntsville, ALGraham represented HDT Expeditionary Systems in its lease of office/warehouse space in the Jetplex area.Agent: Jeremy Pope, CCIM, SIOR

LEASED

14210 & 14212 COCHRAN ROAD

201,000 SF – 14210 & 14212 Cochran Road Huntsville, ALGraham represented the owner in the disposition of these industrial buildings to Kohler. Agents: Graham & Co Huntsville Group, Team Deal

SOLD

251 CHATEAU DRIVE

10,596 SF – 251 Chateau Drive Huntsville, ALGraham represented State Farm in the disposition of this office building to an investor group. Agent: Tyler Fanning

SOLD

1124 HIGHWAY 72

3,200 SF – 1124 Highway 72 Athens, ALGraham represented the buyer in purchasing this former restaurant building that will be converted to a medical office facility.Agent: Tyler Fanning

SOLD


For Sale or Lease

2914 GREEN COVE ROAD

1020 WINCHESTER ROADHUNTSVILLE, AL

AVAILABLE FOR SALE: 12,100 SF

• Manufacturing facility within one mile of Chase Industrial Park

• 100% heated and cooled

• Fenced-in yard area

Contacts: Bart Smith, CCIM, SIOR Chris Jackson [email protected] [email protected]

1020 WINCHESTER ROAD

29850 JONES AVENUE ARDMORE, AL


• Industrial facility situated on 8.5 acres

• Close proximity to Interstate 65 at the

Alabama/Tennessee border

Contact: Jeremy Pope, CCIM, SIOR

[email protected]

2914 GREEN COVE ROADHUNTSVILLE, AL


• Fully heated and air-conditioned

• Situated on 7.73 acres

• Excellent accessibility to South Memorial Parkway

Contact: Bart Smith, CCIM, SIOR

[email protected]

WILL MCCOMB DRIVEMOORESVILLE, AL

AVAILABLE FOR SALE: 50 ± Acres

• Located within Huntsville City Limits

• Less than four miles from Polaris and the recently announced GE Aviation site

Contact: Tyler Fanning [email protected]

reduced to 40%

WILL MCCOMB DRIVE

29850 JONES AVENUE

QUALITY CIRCLE355 QUALITY CIRCLE, HUNTSVILLE, AL

AVAILABLE FOR LEASE: Up to 45,715 SF

• LEED Certified flex space in Thornton Research Park

• Dock high loading

Contacts: Jeremy Pope, CCIM, SIOR Tyler Fanning [email protected] [email protected]

QUALITY CIRCLE


For Sale or Lease

481 FIRE TOWER ROADGRANT, AL


• 100% conditioned industrial facility situated on 20 acres

Contact: Jeremy Pope, CCIM, SIOR [email protected]

2001 NICHOLS DRIVEHUNTSVILLE, AL

AVAILABLE FOR LEASE: Up to 12,500 Contiguous SF

• Convenient access to Redstone Arsenal Gate 1 via Martin Road

• 1st floor and 2nd floor space available

Contacts: Bart Smith, CCIM, SIOR Tyler Fanning [email protected] [email protected]

481 FIRE TOWER ROAD

2001 NICHOLS DRIVE

4100 REDSTONE GATEWAYHUNTSVILLE, AL

AVAILABLE FOR LEASE: 5,000 – 36,000 SF

• LEED Certified office in master-planned park

• Located just outside the main entrance to Redstone Arsenal

Contacts: Bart Smith, CCIM, SIOR Jeremy Pope, CCIM, SIOR

[email protected] [email protected]

Tyler Fanning [email protected]

1000 JAMES RECORD ROADHUNTSVILLE, AL

AVAILABLE FOR LEASE: 254,479 SF

• Industrial facility in Jetplex Industrial Park

• Located one mile from International Intermodal Center

• Norfolk Southern rail spur

Contact: Jeremy Pope, CCIM, SIOR

[email protected]

1000 JAMES RECORD ROAD

MAIN STREET SOUTH7500 SOUTH MEMORIAL PARKWAY, HUNTSVILLE, AL


• Unique office/retail opportunity in South Huntsville

• Center offers high visibility, convenient ingress/egress, and monument signage opportunities


MAIN STREET SOUTH

4100 REDSTONE GATEWAY


For Sale or Lease

PHYSICIANS’ PLAZA4810 WHITESPORT CIRCLE, HUNTSVILLE, AL


• Medical office facility on the campus of Crestwood

Medical Center

• Patient, employee and physician parking


PHYSICIANS’ PLAZAPHYSICIANS’ PLAZA

312 CLINTON AVENUEHUNTSVILLE, AL

AVAILABLE FOR LEASE: 8,183 SF

• 2nd floor office space in the Central Business District

• Cadence Bank will remain as a tenant on the 1st floor


802 SHONEY DRIVEHUNTSVILLE, AL

AVAILABLE FOR SALE: Call for Pricing

• Property is 85% occupied

• Beautifully landscaped, highly affluent growth area

Contacts: Walter Brown, SIOR Tyler Fanning [email protected] [email protected]

HIGHWAY 72 & BALCH ROADMADISON, AL

AVAILABLE FOR SALE: 6 Acres

• Located in high growth area just west of Madison Hospital

• Ideal location for retail development or restaurant


PHYSICIANS’ PLAZA

312 CLINTON AVENUE

450 LANIER ROADMADISON, AL


• Medical office facility situated on 5.84 acres

• 1-story building with covered entrances for patient drop off

Contacts: Bart Smith, CCIM, SIOR Jeremy Pope, CCIM, SIOR

[email protected] [email protected]

HIGHWAY 72 & BALCH ROAD

450 LANIER ROAD

802 SHONEY DRIVE


Graham Huntsville Group

JEREMY POPE, CCIM, SIOR

SENIOR VICE PRESIDENT

[email protected]

JOINED GRAHAM & COMPANY: 2000

AFFILIATIONS/HONORS:

• Certified Commercial Investment

Member (CCIM) designation

• Society of Industrial & Office

Realtors (SIOR) designation

• Member NAIOP – AL Chapter

• Huntsville/Madison County Convention & Visitors Bureau,

Board Member

• Huntsville & Madison County Railroad Authority,

Board Member

CLIENTS INCLUDE:

• Tyco • Owens Corning • Intergraph • Huntsville Hospital

• Kuehne & Nagel • Harris Corporation • Siemens

• Willbrook Solutions • Wolseley • Ferguson • Continental

• International Truck & Engine • Synapse Wireless

TYLER FANNINGVICE PRESIDENT

[email protected]



• CCIM Candidate (Certified

Commercial Investment Member)

• Huntsville Rotaract Club,

Member

• Huntsville Committee of 100 Young Professionals

Initiative, Member

• Huntsville High School Wrestling Coach

CLIENTS INCLUDE:

• MITRE • Prometric • PNC Bank • Aerospace Corporation

• Stephen Gould Corporation • Wells Fargo Securities

• Southern Research • DRS • LYBD Engineering

BART SMITH, CCIM, SIOR

MANAGING BROKER

[email protected]



• Certified Commercial Investment

Member (CCIM) designation

• Society of Industrial & Office

Realtors (SIOR) designation

• North Alabama Commercial (NALCOM), Past President

• Alabama Commercial Real Estate Center (ACRE),

Leadership Council

• Alabama CCIM Chapter, Board Member

• Huntsville Rotary Club, Strive Mentor

• Salvation Army – Advisory Board

• First Methodist Church – Leadership Team

CLIENTS INCLUDE:

• Sanmina-SCI • Northrop Grumman • Cisco • COPT

• Stanley Corporation • Wells Fargo Securities • DirecTV

• ATK • MITRE • Dynetics • AEGON • Orbital Sciences

• Booz Allen Hamilton • MetLife • Rockwell Collins CHRIS JACKSONASSOCIATE

[email protected]



• Member NAIOP – AL Chapter

• Downtown Huntsville, Inc.,

Events Council

• Acme Club of Huntsville, Member

• CCIM Candidate (Certified

Commercial Investment Member)

• Chamber of Commerce of Huntsville/Madison County,

Emissary

CLIENTS INCLUDE:

• GCP Properties • Southern Siding and Window

ERIKA HARLESSREAL ESTATE ASSISTANT

[email protected]

Corporate Services


INDIVIDUALMEMBERSHIPS

INDIVIDUAL MEMBERSHIPS

SIOR–Society of Industrial & Office Realtors

CCIM–Certified Commercial Investment Member

BOMA–Building Owners and Managers Association

CRE–Counselors of Real Estate

IREM–Institute of Real Estate Management

ICSC–International Council of Shopping Centers

LEED–Leadership in Energy and Environmental Design

Appraisal Institute

A B O U T G R A H A M & C O M P A N Y

Founded in 1978, Graham & Company is a full-service commercial real estate firm based in Birmingham. With

offices in Birmingham and Huntsville, Alabama and Jacksonville and the Gulf Coast, the company offers

professional services including sales, leasing, property management (GCP), appraisal, consulting, investment

and development. In response to client demand, Graham has systematically extended its range of services and

geographic reach, now serving clients throughout Alabama and several surrounding states.

C O M M U N I T Y I N V O LV E M E N T

Part of making our community a better place to live and work is an important tenet of Graham & Company. Our

brokers and agents are active with local organizations such as the Salvation Army, Boys & Girls Clubs, Habitat

for Humanity, volunteer coaching, church leadership and land conservation organizations. These good causes

reflect a diversity among our associates in the Huntsville office, and our collective commitment to making

Huntsville a place we are proud to call home.

NAIOP–Commercial Real Estate Development Association

A F F I L I AT I O N S

Cover: Polaris Industries

7049 Greenbrier Parkway NW, Madison, AL

SellersPhoto Aerial Photography © sellersphoto.com

Dynetics image used by permission of Dynetics.

HudsonAlpha Institute image used by permission

of HudsonAlpha Institute for Biotechnology.

Copyright © 2016

Reproduction, in whole or part, of this report is prohibited.

Information deemed reliable, but not guaranteed.

Special thanks to Hiroko Sedensky and the Chamber of Commerce of

Huntsville/Madison County for providing the Cummings Research Park

map and the Major Retail Stores map, pages 10-13.

110 Office Park Drive

Suite 200

Birmingham, AL 35223

TEL 205.871.7100

FAX 205.871.3331

| B I R M I N G H A M

grahamcompany.com

355 Quality Circle

Suite E

Huntsville, AL 35806

TEL 256.382.9010

FAX 256.382.9011

| H U N T SV I L L E

550 Water Street

Suite 1225

Jacksonville, FL 32202

TEL 904.281.0003

FAX 904.281.0849

| JAC K S O N V I L L E

100 Richard Jackson Blvd.

Suite 115

Panama City Beach, FL 32407

TEL 850.563.1500

FAX 850.563.1504

| G U L F C OA S T

MEASURE US BY OUR ACTIONS

CORPORATE

Steve Graham, Chairman

Mike Graham, President

OFFICE & INDUSTRIAL

Tyler Fanning

Chris Jackson

Jeremy Pope, CCIM, SIOR

MANAGING BROKER

Bart Smith, CCIM, SIOR

REAL ESTATE ASSISTANT

Erika Harless

GRAHAM & COMPANY PERSONNEL - Huntsville, Alabama

MEASURE US BY OUR ACTIONS

355 Quality Circle, Suite EHuntsville, AL 35806TEL 256.382.9010

grahamcompany.com

BIRMINGHAM HUNTSVILLE JACKSONVILLE GULF COAST

market survey | huntsville...huntsville, alabama huntsville industrial market overview 1 2016 [ 22.4...

Documents