On September 1, the University of Alabama System Board of Trustees approved two real estate transactions for the University of Alabama at Birmingham: one a medical office building at 1715 11th Avenue South, the other the 19-story Daniel Building at 15 20th Street South.
Read on to learn more about the sale.
Daniel Building to be sold to UAB Medicine for $16M
According to a recent press release from UAB, the Daniel Building will be purchased by UAB Medicine for $16 million, with a proposed closing by the end of September. PNC Bank listed the building (along with two other Birmingham properties) in late 2022 after acquiring the building in their purchase of BBVA USA Bancshares, Inc., and its U.S. banking subsidiary, BBVA USA.
“The office space offers the opportunity to locate and consolidate administrative and support services and provide space to accommodate UAB Medicine’s growing enterprise. Its proximity to UAB Medicine facilities will provide opportunities to expand clinical care facilities in alignment with the UAB Medicine Facility Master Plan.”Dawn Bulgarella, CEO of the UAB Health System and CEO of the UAB/Ascension St. Vincent’s Alliance, in a UAB press release
With 19 stories and a height of 283 feet, the Daniel Building is the tallest tower in Birmingham south of the Railroad Reservation. Inside, the building includes roughly 316,000 square feet of office space and is located near several UAB Hospital buildings, including:
- The Kirklin Clinic
- The Whitaker Building
- Marnix E. Heersink School of Medicine’s Lyons-Harrison Faculty Office Tower
Included in the purchase of the Daniel Building is a 390-space parking deck UAB plans to lease an additional 644 parking spaces from Norfolk Southern in an adjacent surface parking area.
In addition to the Daniel Building, UAB is set to acquire a single-story, 6,100 square-foot medical building on the southern edge of campus for $1.15 million. Located at 1715 11th Avenue South, the purchase will include the building, a half-acre lot and adjacent parking.
UAB plans to redevelop the property in the future as part of its long-range master plan.
UAB continues to expand in Birmingham
The upcoming purchase of the Daniel Building will be the latest in a series of purchases, groundbreakings and ribbon cuttings representing the ongoing implementation of UAB’s Campus Master Plan.
“UAB continues to strategically grow our campus through new facilities, renovations and real estate acquisitions to enhance the overall experience of our students, employees and patients.
This is an exciting time for our institution to gain access to these campus-contiguous spaces as we keep pace with grown opportunities across every pillar of our mission and our strategic plan.”Ray L. Watts, President of the University of Alabama at Birmingham, in a UAB press release
What do you think about UAB’s purchase of the Daniel Building? Tag us @bhamnow to let us know your thoughts!