Southside real estate continues to pique the interest of brokers, developers, and business owners looking to settle in Vulcan’s view of Birmingham.
Accordingly, two buildings near 23rd St. and 10th Ct. South have been purchased and currently being renovated for commercial office space!
The BBJ reported that individual business professionals, who comprise TDG Southside LLC, have purchased two parcels of land near Five Points.
- 1028 23rd St. S.
- 2216 10th Court S.
Sitting on a total of 5,000 square feet, the two properties sold for $330,000.
As you may imagine, there are multiple hands in the making of this deal, or any real estate deal for that matter, so we’ll accredit those associated;
- Jamie Justice of Colliers International – represented the buyers
- Hurston Raley of Cushman Wakefield/EGS Commercial Real Estate – represented the sellers
- Jack Little of Red Rock Realty – marketer for the two properties
Thornton Ratliff, the man representing the deal for TDG Southside LLC, is confident they will soon find the perfect tenant. As mentioned, Southside is becoming more popular, which makes investing in this sort of real estate practical.
“This type of rehab and acquisition is not something we’d pursue in another market, but it’s in our backyard and we’re locally opportunistic developers…”
– Ratliff exclaimed to the BBJ
Southside Property Details:
With on-site parking included in the purchase of the property, the two spaces become more attractive; not to mention the close proximity they have with Five Points South, UAB, and St. Vincent’s.
Renovations are currently in progress to transform the former house to desirable office quarters.
As mentioned in the article, the local investors are very positive about the momentum this area of Birmingham’s Southside real estate is experiencing, making this deal a great one!