PNC selling 3 Birmingham properties, including the Daniel Building, plans to increase headquarters
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The Daniel Building—Birmingham’s tallest tower south of the railroad reservation—is up for sale by PNC, along with two other properties.
According to the BBJ, PNC plans to sell the former BBVA Homewood Administration Center at 401 West Valley Ave. and an annex of the Brock Center at 3317 Sixth Ave. S. The combined prices of these properties is $23.35 million, per their listings with Graham & Co.
Standing at 283-feet, the Daniel Building was formerly the headquarters of BBVA, which was acquired by PNC in 2021.
Additional Details
Here are the stats on the three properties confirmed by Graham & Co.:
- Daniel Building: Opened in 1970, the 316,404 square-foot building has 19 floors and includes a parking deck with 390 spaces. Added bonus: It is adjacent to Rotary Trail. List price: $16 million
- Former Homewood Administration Center: Listed for $5.5 million, the building which has easy access to I-65 is 74,160 square feet and has 546 surface parking spaces
- Brock Center Annex: Sits on 3.88 acres, the space 15,922 square feet and includes 215 parking spaces. List price $1.85 million
Increase PNC Headquarters
Even though PNC is selling the properties, they are growing their footprint in Alabama.
In a statement sent to Bham Now by PNC, the bank stated that they are tripling their regional corporate headquarter space in The Magic City:
The Alabama market is important to PNC’s growth and one of its top markets, which is why we continue to invest and grow here. We are committed to Alabama, and to our employees who live and work in the state. As part of our normal course of evaluating PNC’s real estate portfolio, PNC continuously analyzes the best use of our facilities based on several factors, including building and space condition, occupancy and business needs. Based on our analysis of the Birmingham-area office properties PNC currently owns, PNC has decided to market for sale the Daniel Building located at 15 20th Street South in downtown Birmingham, the Brock Annex at 6th Avenue South and the Homewood Administration Center located at 401 West Valley Avenue for sale.
These buildings have been on the market for several months. This real estate decision will not impact the employment status of PNC’s local workforce. PNC presently maintains space at both downtown Birmingham’s One Federal Building, where the bank is tripling its regional corporate headquarters space, and the Brock Center. Birmingham is also home to one of PNC’s regional tech and innovation hubs. Birmingham-based employees who have been working remotely will continue to have the flexibility to do so.
Nick Willis PNC regional president for Northern and Central Alabama added:
“As a result of the BBVA USA conversion, we’ve grown our business tremendously in the market and the expansion in One Federal in particular underscores our commitment to maintaining our presence downtown. Birmingham is an important market for PNC, and we intend to continue growing our business here and investing in its success.”
2nd Iconic Building up for Sale
The sale of the Daniel Building is the second iconic building in Birmingham to go on the market this summer. Last week, The Pizitz was put on the market.
What’s next? Stay tuned.
