News

Source: bizjournals.com BIRMINGHAM, ALABAMA — Looking back over the year, Birmingham-area office building brokers said their market has seen steady improvement with fewer vacancies and higher rents. Although new office construction is at a standstill, relocations and expansions are expected to grow through next year, said Dan Lovell, director of Graham & Co.’s office division. … Read More

Source: al.com BIRMINGHAM, ALABAMA — The renovated two-story Legal Services Alabama Building at 1820 Seventh Ave. North has a new tenant for the largest space on the ground floor. Aletheia House, a substance abuse treatment organization, has leased nearly 1,800 square feet for its offices in the 24,500-square-foot building with plans to move in Dec. … Read More

Source: al.com The Apostolic Overcoming Holy Church of God has bought the 5,100-seat Cathedral of the Cross in Center Point and plans to make it the headquarters of the international Pentecostal denomination. “It’ll fit our needs,” said AOH Presiding Bishop George W. Ayers, senior pastor of New Jerusalem AOH Church of God in Center Point … Read More

Source: al.com In the current economic climate, sometimes the greatest success is in deals that equate to hitting singles and doubles rather than in trying for home runs that are hard to come by. That has almost always been the approach of the Barber Companies, which is one of downtown’s largest property owners but has … Read More

Source: bizjournal.com Get the tropical shirts ready. A new wave of beach-themed restaurants is crashing into Alabama. Hurricane Grill & Wings area developer Tom Petska is seeking investors to open a minimum of 10 franchises across Alabama, including four in Birmingham, over the next eight years, as I reported this week. For the real estate … Read More

Source: bizjournals.com Atherotech Diagnostics Lab has announced a 30 percent expansion of its Lakeshore Crossings Business Park lab facility to better meet rising demand for advanced cholesterol screening and other clinical laboratory services. The announcement comes after the company boosted its employment level by an estimated 30 percent this year with plans to add 40 … Read More

Source: al.com Vestavia Hills, Alabama — The Vestavia Hills City Center has had trouble attracting and keeping restaurant and retail tenants at the heart of the property, but officials hope a plan to mix in office and medical space with some vibrant new restaurants could change the center’s fortunes. Excel Vestavia, which owns the center, … Read More

Source: al.com Family-owned local retailer The Pants Store is expanding to Tuscaloosa in a project that will turn a vacant downtown building into new shops and restaurant space. The apparel and shoe store partnered with Birmingham-based Shannon Waltchack Investment Real Estate and local commercial real estate broker John Coleman to buy the Kress building at … Read More

Source: al.com Birmingham’s LAH Real Estate Inc., a high-profile firm with more than 150 agents, has new owners. Tom Carruthers III, Charles Robinson Jr. and Mike Graham have purchased ownership stakes from founders Jim Lawrence and Keith Arendall — the “L” and the “A” in the company’s name. Maurice Humphries remains a partner and takes … Read More