Alabama

Selective Growth, Strategic Redevelopment Shape Birmingham’s Retail Market

by John Nelson April 27, 2026

Birmingham’s retail market continues to show steady momentum as it moves into a new phase, defined by limited supply, strong tenant demand in key corridors and a growing focus on open-air, lifestyle environments. While higher interest rates and construction costs slowed new development activity over the past couple of years, Birmingham’s most established retail corridors have remained active. Well-located centers continue to lease space quickly, and redevelopment opportunities are beginning to reshape several of the MSA’s outdated retail properties. One of the defining characteristics of Birmingham’s retail landscape today is the limited availability of high-quality space in prime locations. Much of the vacancy that emerged during the pandemic has been absorbed, particularly in grocery-anchored centers and lifestyle-oriented districts. As a result, retailers looking for space in established corridors often face a fairly competitive leasing environment. Demand remains strong among quick-service restaurants (QSRs), boutique fitness operators, medical and service retailers and fast-casual and high-end dining concepts. Birmingham’s suburban growth corridors and mixed-use environments offer many of these advantages, allowing landlords in the most desirable centers to maintain strong occupancy while gradually pushing rents higher. Lifestyle centers Open-air lifestyle environments continue to set the standard for Birmingham’s retail landscape. The best example …

April 27, 2026

Alabama Market Reports Multifamily Southeast Southeast Market Reports

Downtown Supply Meets Suburban Stability in Birmingham’s Apartment Market

by John Nelson April 20, 2026

Conditions in Birmingham’s apartment market vary by submarket heading into 2026. Several recently completed developments downtown are still stabilizing, creating short-term leasing pressure, while suburban areas across the metro continue to see steady renter demand. Much of the new multifamily development in Birmingham over the past several years has been concentrated in the downtown core. As a result, many of these properties are still working through lease-ups. Marcus & Millichap research projects roughly 670 apartments will be delivered across the metro this year, with vacancy expected to hover around 6.1 percent and average effective rents near $1,302 per month. That level of supply has created temporary softness in parts of the downtown market. Some newly delivered communities are offering concessions during lease-up periods as owners compete for tenants. In certain cases, owners are choosing to refinance rather than bring assets to market while occupancy stabilizes. These conditions are typical when several projects deliver within the same submarket over a short period of time. Outside the city center, Birmingham’s suburban apartment submarkets continue to perform well. Cities including Homewood, Vestavia Hills and Hoover remain among the metro’s most stable suburbs. Shelby County cities, including Pelham and Alabaster, are also seeing consistent …

April 20, 2026

Alabama Industrial Market Reports Southeast Southeast Market Reports

Birmingham Industrial: Softness in Distribution, Resurgence in Manufacturing

by John Nelson April 13, 2026

The Birmingham industrial real estate market has remained relatively resilient compared to many U.S. markets, but recent trends show a shift in demand patterns with recent softness in the distribution sector compared to growing activity from manufacturing users. Overall market fundamentals remain stable. Birmingham continues to benefit from disciplined development and historically tight vacancies. Multi-tenant leased vacancy has generally remained well below national averages, hovering around the 5 percent range in the first half of 2025. Rent growth remains positive at about 3.5 percent annually. Renewing or vacant second-generation rents strategically lag new construction rents by about 15 to 20 percent. The second-generation base rent range is $6 to $7.50 per square foot depending on size, location and quality. Distribution and logistics demand has softened in recent months. Following the surge of warehouse construction and demand during the pandemic, leasing activity slowed by 2025. Approximately 1.3 million square feet of speculative space was delivered locally in 2022 and 2023, with asking rents at about $8 per square foot. The early deliveries benefited while the last projects to deliver were slower to lease as the economy stalled in the post-pandemic Biden era. Presently, 109,000 square feet of first-generation space delivered in …

April 13, 2026

Alabama Hospitality Loans Southeast

Forman Capital Provides $20.5M Loan for Hotel Indigo in Huntsville

by Abby Cox April 6, 2026

HUNTSVILLE, ALA. — Forman Capital has provided a $20.5 million bridge loan for Hotel Indigo, a newly built, 112-room boutique hotel located within Huntsville’s MidCity District. Ben Jacobson, Scott Mehlman, Ty Regnier and Cameron Fleury of Forman Capital secured the loan on behalf of the borrower and developer, ViaNova Development. The loan paid off the construction financing for the five-story hotel. The pet-friendly property, which is expected to open over the next few weeks, will feature meeting space, an onsite restaurant and a fitness center.

April 6, 2026

Acquisitions Alabama Retail Southeast

Marcus & Millichap Brokers Sale of Retail Property in Montgomery Leased to Valvoline

by Abby Cox March 27, 2026

MONTGOMERY, ALA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a retail property in Montgomery. Instant oil change provider Valvoline occupies the building on a 15-year, triple-net ground lease that features 10 percent rent increases in the initial term. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group represented the seller, a preferred developer for Valvoline, in the transaction. “This transaction demonstrates the demand for investment-grade credit tenants on long-term leases with attractive rent increases,” says McMinn. “We represented the seller, and the buyer was an all-cash, out-of-state, 1031 exchange buyer that closed in under 30 days from going under contract.”

March 27, 2026

Acquisitions Alabama Loans Multifamily Southeast Uncategorized

Red Oak Provides $10.2M Loan for Acquisition, Renovation of Apartment Community Near Birmingham

by John Nelson March 26, 2026

FAIRFIELD, ALA. — Red Oak Capital Holdings LLC has provided a $10.2 million bridge loan for the $3.5 million acquisition and $6.6 million repositioning of Chateau Glen Oaks Apartments, a 230-unit, garden-style community located in Fairfield, a suburb of Birmingham. Chris Litzler of Marcus & Millichap arranged the financing on behalf of the borrower, an entity doing business as Fairfax Holdings LLC. Stratos Athanassiades, Thomas Gorski and James Myatt of Red Oak originated the non-recourse loan, which features a two-year initial term, interest-only payments and a loan-to-stabilized value ratio of 70.8 percent. Built in 1972 on 13.5 acres, Chateau Glen Oaks was approximately 20 percent occupied at the time of financing. The sponsor’s renovation plans comprise extensive interior improvements, including new flooring, finishes, appliances, cabinets, drywall repairs, LED lighting, painting and limited window repairs and replacements. Exterior improvements are expected to include roof and parking lot repairs, landscaping, security cameras, masonry repairs, lighting upgrades, pool improvements and the addition of amenities such as a dog park, pickleball court, playground and a picnic area.

March 26, 2026

Acquisitions Alabama Retail Southeast

Franklin Street Negotiates $7.6M Sale of Hampton Cove Shops Near Huntsville, Alabama

by Abby Cox March 13, 2026

OWENS CROSS ROADS, ALA.— Franklin Street has negotiated the sale of Hampton Cove Shops, a 41,681-square-foot retail center located in Owens Cross Roads, approximately 15 miles southeast of Huntsville. Bryan Belk and John Tennant of Franklin Street represented the seller, Birmingham, Ala.-based Fairway Investments, in the transaction. Prudent Growth Partners purchased the property for $7.6 million. Built in 2008, Hampton Cove Shops was 96 percent leased at the time of sale to tenants including Dollar Tree, H&R Block, sports bar Jefferson’s, We Rock the Spectrum Kid’s Gym and ALFA Insurance.

March 13, 2026

Alabama Development Multifamily Southeast

JCCG Underway on 250-Unit Build-to-Rent Community in Loxley, Alabama

by Abby Cox February 27, 2026

LOXLEY, ALA. — Jim Chapman Construction Group (JCCG) is underway on the construction of The Cottages at Loxley, a 250-unit build-to-rent residential community located in Loxley, a city in Alabama’s Baldwin County. The firm broke ground on the project in January, with vertical construction slated to begin later this year. Situated on roughly 51 acres along I-10, The Cottages at Loxley will comprise single-family rental homes ranging in size from 1,000 to 1,493 square feet, featuring open-concept layouts and attached private garages. Planned amenities will include a clubhouse, swimming pool, fitness center, onsite property management and 24-hour emergency maintenance. The community is designated to serve families within the Baldwin County Public Schools system, including Loxley Elementary School, Central Baldwin Middle School and Robertsdale High School.

February 27, 2026

Alabama Development Mixed-Use Multifamily Southeast

Essex Capital, Ascend Begin Leasing 545-Unit Residences at Front Row in Huntsville

by John Nelson February 25, 2026

HUNTSVILLE, ALA. — A joint venture between Essex Capital and Ascend Property Group has begun leasing at The Residences at Front Row, a 545-unit multifamily community in downtown Huntsville. Move-ins for the first 190 apartments are targeted for June, according to the development team. The property is the first phase of Front Row, a $220 million mixed-use development that will feature residences, offices and 50,000 square feet of shops and restaurants surrounding a central green space, as well as art installations and outdoor patios. In addition to Essex Capital and Ascend, the development team of The Residences at Front Row includes affiliates of Silverstein Properties, Cantor Fitzgerald and Arctaris Impact Investors. Other project team members include Crunkleton Associates (retail broker), Torti Gallas + Partners and Matheny Goldmon (architects), Vida Design (interior designer), ARCO/Murray (general contractor) and The VOREA Group (construction oversight).

February 25, 2026

Alabama Development Retail Southeast

IKEA to Open 46,000 SF Store in Huntsville, Marking Retailer’s First Location in Alabama

by Abby Cox February 20, 2026

HUNTSVILLE, ALA. — IKEA U.S. has announced plans to open a 46,000-square-foot store in Huntsville, making it the Swedish retailer’s first location in Alabama. Set to open on Feb. 25, the new, small format store will be located at 6125 University Place Drive within the University Place Shopping Center. The landlord was not disclosed. IKEA says the store will showcase more than 5,000 products and a variety of fully furnished room settings and will include a central planning area for personalized design consultations, an “As Is” department with sustainable furnishing options for purchase and its Swedish in-store restaurant.

February 20, 2026

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