market survey | huntsville · 2018-11-28 · market decreased to 4.24% in 2017, down from the 6.74%...

2018

M A R K E T S U R V E Y | H U N T S V I L L E

Industrial Market Overview . . . . . . . . . 1

Jetplex Industrial. . . . . . . . . . . . . . . . . 2

North|Central Huntsville Industrial . . . . 3

Chase Industrial . . . . . . . . . . . . . . . . . . 4

Office Market Overview . . . . . . . . . . . 5

Central Business District Office . . . . 6

Jetplex | Madison Office . . . . . . . . . . 7

Cummings Research Park Office . . . 8

Cummings Research Park Map . . . . . 10

Retail Map. . . . . . . . . . . . . . . . . . . . . . . 12

Retail Market Overview . . . . . . . . . . . 14

Recent Graham Activities . . . . . . . . . 17

For Sale or Lease. . . . . . . . . . . . . . . . . 20

Graham Huntsville Group. . . . . . . . . . 23

TA B L E O F C O N T E N T S

All sectors of the Huntsville commercial real estate market performed well in 2017, with the

office sector having its best year in more than a decade. Industrial and retail markets remained

stable with low vacancy rates and an upward trend in rental rates.

Cummings Research Park (CRP), Huntsville’s largest office submarket, was the beneficiary

of an increase in defense spending in 2017. This spending increase led to many defense firms

needing additional space for an expanding workforce. The office sector had positive absorption

of more than 840,000 square feet which helped drive down overall vacancy.

The retail market continued to perform well with vacancy rates falling to 7.49% as new

developments began to replace older, outdated projects. Top Golf opened at MidCity Huntsville,

the former Madison Square Mall site, and several other projects have been announced. The

continued interest and success of mixed-use developments will enhance the Huntsville retail

market.

Industrial vacancy declined again to below 6%, and companies are now experiencing a

shortage for space in the 25k to 50k square foot range. The need for industrial facilities in west

Huntsville near the Greenbrier area continues and overall rental rates have begun to increase.

GRAHAM REPORT 2018HUNTSVILLE, ALABAMA

HUNTSVILLE INDUSTRIAL MARKET OVERVIEW

1

2018[ 23.3 MILLION SF TOTAL ]

OVERALL VACANCY 5.97%

SINGLE TENANT 4.72%

MULTI-TENANT 10.20%

Industrial Market Overview

G R A H A M & C O M PA N Y | 2 0 1 8 M A R K E T S U R V E Y | H U N T SV I L L E

2017INDUSTRIAL MARKET SF VACANT SF 2013 2014 2015 2016 2017

SINGLE TENANT 18,107,721 SF 855,043 SF 7.78% 3.36% 2.27% 4.7% 4.72%

MULTI-TENANT 5,319,140 SF 542,545 SF 17.52% 27.22% 22.69% 14.28% 10.20%

TOTAL INDUSTRIAL 23,426,861 SF* 1,397,618 SF 10.03% 8.97% 7.06% 6.86% 5.97%

VACANCY RATE

2017 INDUSTRIAL MARKET

VACANCY RATES

HUNTSVILLE

INDUSTRIAL ABSORPTION

INDUSTRIALMARKET

SINGLETENANT

MULTITENANT

OVERALL

JETPLEX 7.70% 12.46% 8.81%

NORTH | CENTRAL 4.81% 2.30% 4.24%

CHASE 0% 0% 0%

* This number includes some industrial properties that do not fit within a certain submarket, but are an integral part of Huntsville’s industrial landscape.

INDUSTRIAL: Huntsville’s 2017 industrial market vacancy decreased for the 7th consecutive year to 5.97%, the lowest rate since 2001, and has now dropped for 26 consecutive quarters. Vacancy rates are expected to continue this decline.

Lack of new construction is causing a shortage of space in the market, thereby increasing rents across most of the North Alabama region. Rental rates rose again in 2017 to a nationwide average of $6.92 per sf as supply-chain and distribution companies’ appetites for space remains strong. Rates are forecasted to increase again in 2018.The Huntsville market experienced positive absorption of 326,000 sf in 2017, marking the 6th year in a row of positive absorption. More than 2.5 million sf have been absorbed in the market since 2012.

Due to increased demand and construction, average land prices have increased during the last five years. Even though construction prices have increased, new construction for industrial buildings will remain strong in 2018. The industrial investment market has become a favored asset type, and the capital moving into the sector has pushed pricing for building to record levels as cap rates continue to fall. Investment transactions should remain strong in 2018 as rental rates continue to rise.

Industrial Announcements of Note in 2017:

• Blue Origin announced plans to build a 400,000 sf plant in Cummings Research Park West on Explorer Boulevard that will be used to construct rocket engines. The company is an American, privately funded aerospace manufacturer and spaceflight company founded by Amazon.com CEO Jeff Bezos. The new rocket engines will help power the United Launch Alliance's Vulcan rocket.

• Aerojet Rocketdyne announced plans to build a 135,000 sf building in North Huntsville near the Toyota plant. The company expects to add 700 jobs to the Huntsville market. Aerojet will also be moving its defense headquarters to CRP.

2

Jetplex Industrial Market

G R A H A M & C O M PA N Y | 2 0 1 8 M A R K E T S U R V E Y | H U N T S V I L L E

[ 13.6 MILLION SF TOTAL ]


SINGLE TENANT 7.70%

MULTI-TENANT 12.46%

SUPREME BEVERAGESupreme Beverage is a third generation, family

owned and operated, beverage distributor.

Supreme Beverage services 18 counties in the

North Alabama area.

Vacancy for Jetplex Industrial Park decreased to

8.81% in 2017, down from the previous year’s 9.51%

rate. Overall vacancy remains low with the largest block of vacant space found in the former 550,000 sf Navistar plant.

Jetplex Industrial Park is Huntsville’s largest industrial base, representing 58% of the Huntsville industrial market, and comprised of several smaller markets that surround Huntsville International Airport and the Intermodal Center. Jetplex Industrial Park contains 1,470 acres and offers Foreign Trade Zone #83, U.S. Customs Port of Entry and interstate access via I-565. Jetplex South Industrial Park contains 1,400 acres and is located just south of Jetplex Industrial Park. Lowe Industrial Park is a 900-acre park originally designed to encompass the growth of Intergraph Corporation.

Recent developments:

• BOCAR, a Tier 1 automobile supplier, announced plans to build a $115 million plant in Huntsville/Limestone County that will employ more than 300 people. Located on the north side of Bibb Garrett Road in the Greenbrier area and adjacent to Interstate

65, the plant will allow for quick access to automobile companies across Alabama and south Tennessee.

• The former Navistar plant was purchased by an investor. The new owner of the building is currently marketing the building for lease.

• The former Chesebrough-Ponds building was sold to Phoenix Investors, LLC for $5.1 million. The 359,304 sf building is centrally located in Jetplex Industrial Park and sits on 40.3 acres of land.

• Jetplex Center, a 145,497 sf multi-tenant industrial building, sold for $5,800,000 to an investment group.

• Supreme Beverage moved its North Alabama operations to SouthPoint Business Park. SouthPoint Park consists of more than 900k sf of industrial space at the I-65 and I-565 interchange.

Major area tenants include: Kohler, Remington, Yulista, SES, & Georgia Pacific.

3G R A H A M & C O M PA N Y | 2 0 1 8 M A R K E T S U R V E Y | H U N T SV I L L E

North | Central Huntsville Industrial Market

TOYOTA

Toyota’s North Huntsville facility manufactures 4

cylinder, V6 and V8 engines.



SINGLE TENANT 4.81%

MULTI-TENANT 2.30%

Vacancy for the North/Central Huntsville industrial

market decreased to 4.24% in 2017, down from the

6.74% posted in 2016. The North/Central Huntsville industrial market is comprised of 4.68 million sf and represents 20% of the total Huntsville industrial market.

Most buildings in this market have smaller square footage footprints than buildings in Jetplex or Chase, and many facilities in this market have been recently constructed along the Highway 53 corridor, providing good access to North Alabama and Southern Tennessee. The tenant mix in the area consists of companies in the automobile industry, local and national service companies, and defense companies.

Recent developments in the North/Central

Industrial Market:

• The 99,250 sf American Tire Distributors building located at 6240 Mastin Lake Road was sold to Setzer Forest Products for $66.96 per sf. Graham & Company developed the building as a build-to-suit for ATD.

Major area tenants include:

Toyota, Aerojet Rocketdyne, and Dynetics.

4

Chase Industrial Market


OVERALL VACANCY 0%

SINGLE TENANT 0%

MULTI-TENANT 0%


Chase Industrial Park remained at zero vacancy in

2017, marking the third consecutive year of 100%

occupancy. Chase represents 22% of the entire Huntsville industrial market and was developed by the Madison County Commission.

Chase Industrial Park is comprised almost exclusively of single tenant employers. Comprised of 1,700 acres in northeast Huntsville, only 50 acres remain available for new development. Products manufactured in the park include medical instruments, copper, plastic products, and street sweeping machines.

Major Area Tenants Include:

J and J South Central, Cinram, PPG Industries, Available Plastics, Hart & Cooley, Kommerling, and Schwarze Industries.

PPG

PPG is a global supplier of paints, coatings,

optical products, specialty materials, and fiber

glass.


Office Market Overview

[18 MILLION SF TOTAL]


SINGLE TENANT 6.32%

MULTI-TENANT 17.53%

HUNTSVILLE OFFICE MARKET OVERVIEW

2017OFFICE MARKET TOTAL SF VACANT SF 2013 2014 2015 2016 2017

SINGLE TENANT 8,463,971 SF 535,116 SF 5.09% 10.79% 13.14% 7.87% 6.32%

MULTI-TENANT 9,549,727 SF 1,673,687 SF 25.64% 24.83% 25.03% 24.39% 17.53%

TOTAL OFFICE 18,013,698 SF 2,208,803 SF 15.47% 18.02% 19.31% 16.63% 12.26%

VACANCY RATE

2017 OFFICE MARKET

VACANCY RATES

HUNTSVILLE

OFFICE ABSORPTION

OFFICEMARKET

SINGLETENANT

MULTI -TENANT

OVERALL

CUMMINGSRESEARCH PARK

6.19% 15.78% 9.98%

JETPLEX/MADISON 8.47% 29.61% 25.79%

CENTRALBUSINESS DISTRICT 7.31% 14.95% 14.20%

OFFICE: Vacancy for the Huntsville market fell to 12.26% in 2017, a dramatic drop from 2016’s 16.63%, marking the second consecutive year of decreasing vacancy rates, and hopefully an end to the defense recession our office market suffered through from 2012-2015. Huntsville’s vacancy was below the national vacancy rate of 13.20% for the first time in many years and vacancies were down in each submarket.

The office market experienced positive absorption of 843,657 sf in 2017. This much welcomed positive momentum represents the culmination of several factors including an increase in defense spending, Huntsville’s improved economic diversity, the razing of several obsolete office buildings, and a lack of new construction in the office sector.

As prices climb and space needs change, a slowdown in construction is expected. The shared space trend in the office market has altered and decreased the typical square foot per employee ratio. New construction in Huntsville was again slow in the CRP market, but several mixed use projects are planned or underway in the Central Business District.

Rental rates in Huntsville remain steady in Class A and B inventory with annual increases averaging 2.5% to 3%.

Office Announcements of Note in 2017:

• Blue Origin announced plans to manufacture the BE-4 engine in Huntsville. The company plans to build a new 400,000 square foot building in CRP West. Blue Origin will employ more than 340 people at the facility.

• The FBI is expanding its presence on Redstone Arsenal. The FBI site on the Arsenal currently consists of 200 acres of land that is being developed to help facilitate the Terrorist Explosive Device Analytical Center (TEDAC) program. This expansion could potentially bring 1,500 new jobs to the area.

• Aerojet Rocketdyne broke ground on its new Huntsville plant in North Huntsville Industrial Park that will be used to produce engines. These engines will be used in several rocket propulsion systems. The company will employ more than 700 people at the plant and at its new location on Explorer Boulevard in CRP.

6

Central Business District (CBD) Office Market



SINGLE TENANT 7.31%

MULTI-TENANT 14.95%

BRYANT BANK

Bryant Bank is Alabama owned and operated with

14 locations currently in the state. Bryant Bank’s

new main Huntsville office is located in Twicken-

ham Square.


The Huntsville downtown/central business district

(CBD) office market consists of approximately three

million sf and is dominated by the business services sector including law firms, banking, accounting, and real estate companies. City, county, and govern-ment employees also make the CBD home.

Vacancy in the CBD decreased to 14.20%, down from the previous year’s 17.22% rate. New develop-ment and activity in the CBD is high with several mixed-use projects under construction. Land sale transactions and prices have spiked to meet the growing demand for new development.

Recent Developments:

• Plans for a new city hall are being discussed that would relocate the complex across the street to a site that is currently a municipal parking deck. The current city hall site would be razed and possibly replaced by a multi-story office development.

• The Von Braun Center announced a $42 million expansion that will be funded by an increase in lodging taxes. The expansion includes a new 1,200 capacity music hall and a large meeting and banquet hall.

• The 112,986 sf Clearview Cancer Institute was sold to Physicians Realty Trust. The building was built in 2006 and occupies 11 acres of land near downtown Huntsville.

• Torch Technologies continued to expand its foot-print in South Huntsville with the purchase of Office Park South and the 40,500 sf office building at 2001 Nichols Drive. The Nichols Drive building will be integrated into the current Torch campus. Both fa-cilities are strategically located close to the Martin Road entrance of Redstone Arsenal.


Regions Bank, Bryant Bank, The City of Huntsville, BB&T, Lanier Ford Attorneys at Law, Bradley, and Huntsville Hospital.

INTERGRAPH

Intergraph Corporation is a software development

and services company providing enterprise

engineering and geospatially powered software

to businesses, governments, and organizations

around the world.


Jetplex | Madison Office Market

[1.7 MILLION SF TOTAL ]


SINGLE TENANT 8.47%

MULTI-TENANT 29.61%

Vacancy for the Jetplex/Madison office market decreased

in 2017 to 25.79%, representing a substantial decrease

from the 44.23% rate in 2015. The office market for the City of Madison will be enhanced once the planned Town Madison project is completed.

Madison is one of the fastest growing cities in the State of Alabama and the demand for medical and business services remains strong. Many bank branches and medical related facilities have been built in the Madison market in the last three years. Both Crestwood and Huntsville Hospital now have a presence in Madison.

New Developments:

• The Town Madison project continues to move forward along Interstate 565. Part of the project included razing more 600,000 sf of older office space at the former Intergraph campus. Plans call for 700,000 square feet of office space in the Town Madison development.

• Boeing continued work on its new 28,000 square foot facility for its Patriot Advanced Capability 3 (Pac 3) missile seeker program.


Intergraph, Boeing, Ability Plus, Huntsville Hospital, and Platinum Mortgage.

8 G R A H A M & C O M PA N Y | 2 0 1 8 M A R K E T S U R V E Y | H U N T S V I L L E

Cummings Research Park Office Market



SINGLE TENANT 6.19%

MULTI-TENANT 15.78%

The Cummings Research Park (CRP) submarket

had its best year in leasing velocity in about a

decade. Overall office vacancy declined to 9.98% from 14.54% the previous year. Multi-tenant vacancy fell to 15.78%, down substantially from 25.40% in 2016.

Many companies in CRP are defense related and depend on the government for funding of military projects. The monies allocated for defense programs greatly improved in 2017, creating a need for many of the companies to expand office space footprints.

CRP is the largest office market in Huntsville with more than twelve million sf, representing more than 70% of the total Huntsville office market. Cummings Research Park is the second largest research park in the United States, encompassing 3,843 acres. It is home to nearly 300 companies, 26,500 employees, and 13,000 students.

Most companies in CRP act in a support role to meet various demands for military installations located on Redstone Arsenal. Redstone is home to the U.S. Army Aviation and Missile Command (AMCOM), the Space and Missile Defense Command, numerous Program

Executive Offices (PEO), and major components of the Defense Intelligence Agency, and the Missile Defense Agency.

Recent Developments:

• Dynetics broke ground on a three-building complex at the United Launch Alliance’s complex in Decatur. The facilities will be used to test and develop next generation rocket components. The site will enable Dynetics to develop and build the Universal Stage Adapter for NASA’s Space Launch System.• The University of Alabama in Huntsville (UAH) purchased the former Executive Plaza office complex in CRP East. Constructed in 1980, Executive Plaza consists of more than 258,000 square feet of one-story office buildings on thirty-eight acres of land. The complex was more than 50% vacant at the time of the sale. UAH will use the property for future development and expansion of its existing campus. • 990 Explorer Boulevard was purchased by OAR Corporation. The 42,700 sf building was owned by a private investor at the time of the sale. OAR plans to take occupancy of the building once the necessary tenant improvements are completed.


Cummings Research Park Office Market

PARSONS CORPORATION

Parsons Corporation focuses on the defense,

security, and infrastructure markets and delivers

cyber-physical security, advanced technology

solutions, and other innovative services to federal,

regional, and local government agencies, as well as

to private industrial customers worldwide.

CUMMINGS RESEARCH PARK

Cummings Research Park is home to nearly 300

companies, including Fortune 500 companies,

high-tech enterprises, U.S. space and defense

agencies, business incubators, and higher education

institutions.

• Parsons broke ground on a new 25,000 sf high-bay facility located in Thornton Research Park. The building will be used to assist Parsons with its Department of Defense applications and intelligence agency programs. Parsons is headquartered in Pasadena, California and employs approxamately 500 people in the Huntsville market. • 4900 Bradford Drive was purchased by a local investor for $2,195,000. The property consists of a 30,000 square foot building on 9.59 acres of land and is 100% leased.

Major area tenants include:

Dynetics, SAIC, Adtran, Northrop Grumman, HudsonAlpha Institute, Lockheed Martin, and numerous other high-tech companies.

7.35 AC

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8.07AC

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12.71 AC 10.75 AC

12.38 AC7.97 AC

8.75 AC 10.09 AC

10.64 AC

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10 AC

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~ 50 acresCRP Landmark Site

Discovery Place

Technology CenterStrayer University

Bevill Center

UniversityFitnessCenter

Optics Building

Materials Science Building

Engineering Building/

Admissions

Olin B. KingTechnology Hall

Salmon Library

Business Administrative Building

Premier Preschool

UAH SMAP

Fire Station #12

Morton Hall

North CampusResidence Hall

UniversityCenter/Exhibit Hall

RobertsHall/Roberts Recital Hall

Wilson Hall/Wilson Theatre

Southeast Campus Housing

NursingBuilding

Spragins Hall

Union Grove Gallery &Meeting Hall

Wernher von Braun

Research Hall

Central Campus

Residence Hall

Shelbie King Hall

Credit Union

Physical Plant

Central Receiving & Shipping

Johnson Research

CenterWLRH Radio

Station

Business Services Building/

Copy Center

Social SecurityAdministration

Frank Franz Hall

Amphitheater

Fraternity/Sorority Row

Solar Energy Research

Propulsion Research Lab

Robert “Bud” Cramer Research Hall(NSSTC & NOAA Weather Forecasting Office)

Defense Acquisition University

Chan Auditorium

Charger Union

Intermodal Parking FacilityPublic Safety

Charger Village Food Court

Charger Village I

McDonnell Douglas Auditorium

SWIRLL (Severe Weather InstituteResearch and Lightning Laboratory)

Studio 106

Charger Park

Hampton Inn & Suites Home2 Suites by Hilton

401 Wynn Drive

The Bridges

Park Place

Colonial Centerat Lakeside

Progress CenterResearch Park Office Center

Corporate Office Park

Executive Plaza Office Park

Research Place

Lake 1

Lake 4

Lake 3 Lake 2

Lake 5

306 WynnDrive

4975 Bradford

Park WestCenter

Highland Office Park

Technology Pointe

106 WynnDrive

Bldg. 3

Bldg. 2

Bldg. 1

4815Bradford

305 Quality Circle

635 Discovery

Rainbow Daycare

Intuitive Center atResearch Center

Shelby Center for Science & Technology

Student ServiceBuilding

Columbia High School

Cabela'sCatholic

High School

Faulkner University

103 WynnDrive

215 WynnDrive

The Point

ThorntonResearch Park

University of Alabama in Huntsville Foundation

U.S. ArmyRedstone Arsenal

NASA Marshall SpaceFlight Center

UAHFoundation

(Zoned CRP West)

Huntsville International Airport

Downtown Huntsville

FutureDevelopment

CRP Applications

Bridge Street Town Centre

Future ResearchURS / Siemens /

M3 Superior SolutionsDynetics

General Atomics /Complex IQ

AlabamaSupercomputer /

AlabamaResearch & Education Network

DyneticsMTA /Gideon

Dynetics

DavidsonTechnologies

AT&T

InterFuze

Colsa

Aerojet Rocketdyne

ADTRAN

ADTRAN

AeroVironment

HuntsvilleUtilities

MacroIndustries

HII

Quantum Research

DeltaResearch

Vertiv

A-P-TResearch /

SEACQualitest

Shearer & Associates

Kratos Defense & Security Solutions

MBDA /Titertek Instruments

Lockheed Martin

DESE Research /SENTAR

SPS /MSSI

SimTech /Aranea Solutions /U.S. Army Corps

of Engineers

Baron Services

Lockheed Martin

AT&T

Amtec

Redstone Federal

Credit Union

NorthropGrumman

Benchmark Electronics

TeledyneBrown

Engineering

BizTech

Technical Micronics Controls

General Dynamics

AAR IntegratedTechnologies

Advanced Systems Technology

(United Technologies)

SAIC /FPMI

Rolls Royce /CenturyLink

Selex Galileo /Hawk Enterprises

NorthropGrumman

Dynetics

KRS, LLC /F1 Solutions

ASRC Federal

TARCOG

Radiance Technologies, Inc.OMI

KBRwyle

ERC /Cummings Aerospace

DirecTV

Dynetics

NorthropGrumman

NorthropGrumman

RaytheonCompany

SDI /Sierra Nevada

CINRAMBPI

HuntsvilleHospital

Parsons

Lockheed Martin

Digium, Inc.

AEgisTechnologies

ARSA, P.C.

Sikorsky Aircraft

RockwellCollins

ARC /MDA

Decibel

GarverYulista

Yulista

IRSPeopleTec

Jackson Center

BAE Systems /Orbital ATK /

BWXT

HuntsvilleHospital

Strata-GSolutions

Willbrook Solutions

Avion

KBRwyle

L3 /Summit 7

EADS

Technology Service Corporation / MTS

Dynetics

Raytheon /The SI /

Telephonics

NeXolve /Graham & Co.

SpacehabROC/CAMO

Sigmatech /Victory Solutions /

BRC

Stratolaunch / SnellingJohnson Controls /

Moog / Red Hat

Synapse Wireless /

Leidos

T&W Operations /NetWorx

Dynamic Concepts /SRA

Geocent

Dynetics /Vencore Logicore

Aviagen

S3, Inc.

AT Solution /SESI / KLO

Dynetics Field

Bentley

CFDRC /The Smith Family

Clinic for Genomic Medicine

CSRA / Trimble / Trident Technologies /

DynCorp International /ExoAnalytic Solutions /

Booz Allen Hamilton

Cubic GATRTechnologies

Gleason Research Associates /INTUITIVE /

Pinnacle Solutions

Chugach

LSINC / Trideum

i3 / MCR Qualis

Ares Corp.

Kord Technologies

HudsonAlphaMain

RFCU

Tecvox

HII

Intrepid

Paragon at 511

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Gilmer Drive

Technology Drive

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Research Drive

Corporate Drive

Bradford Drive

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University Drive

Holmes Avenue

Holmes Avenue

Moquin Drive

Farrow Road

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Ben

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MIDTOWNEON THE PARK

565

72

More than 50 Years of Success3,843 acres11.8 million square feetAlmost 300 companies totalMore than 26,000 employees13,258 enrolled college students

Cummings Research Park

CRP WestInterior Lots (Lots that do not front Park boulevards, and must be accessed via

non-boulevard roads)

Boulevard Non-Access Lots (Lots that have property frontage on boulevards, but are accessed from non-boulevard roads)

Boulevard Access Lots (Lots that have property frontage on and are directly accessible via boulevards)

Lakeside Lots

Outside of official CRP boundaries

Established in 1962, Cummings Research Park (CRP) is one of the largest and most-respected research parks in the world. Since its inception CRP has grown to become the second-largest science and technology park in the U.S. and fourth-largest in the world.

CRP, as shown here, encompasses 3,843 acres and includes nearly 12 million square feet of administration, laboratory, research and development, classroom and manufacturing space.

Approx. 310 acres of land are available for development in CRP West. In order to stimulate economic development and investment, the price of land per acre in CRP is significantly lower than adjacent property, providing an attractive incentive for new and expanding companies.

Land parcels in CRP West range from four acres (minimum) to 18 acres, but may also be reconfigured to meet company requirements. For each parcel, the City of Huntsville will complete basic site preparation including road access, curbing, drainage, telecommunications, and utilities to the site.

CummingsResearchPark.com Scale in Miles 0 1/4 1/2 3/4

May 2018

Acreage depicted on this map should be confirmed with CRP Director if interested.

For more information and undeveloped land prices, contact Erin Koshut at 256.535.2086 or [email protected]

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35.88 AC

43.92 AC

12.3 AC

5.21 AC

24 AC

10.63 AC15.47 AC

13.26 AC

5 AC

18 AC

5 AC

7.19 AC

7.59 AC

5 AC

6 AC

10.23 AC 9 AC

10 AC

5 AC

7 AC6.5 AC

11 AC

6 AC5.35 AC

10 AC

19.69 AC

18.35 AC

19.23 AC

9.3 AC

9.5 AC

9.67 AC

11.78 AC

11.96 AC

11.3 AC

27 AC

86 AC

10.34 AC

7.8 AC

9.6 AC

5.64 AC

5.91 AC

9.2 AC

5 AC

4.6 AC9.3 AC

11.35 AC

51.95 AC

18 AC

9.22 AC

6.78 AC

11 AC8.2 AC

6.4 AC

3.2 AC

7.9 AC

5 AC

~ 50 acresCRP Landmark Site

Discovery Place

Technology CenterStrayer University

Bevill Center

UniversityFitnessCenter

Optics Building

Materials Science Building

Engineering Building/

Admissions

Olin B. KingTechnology Hall

Salmon Library

Business Administrative Building

Premier Preschool

UAH SMAP

Fire Station #12

Morton Hall

North CampusResidence Hall

UniversityCenter/Exhibit Hall

RobertsHall/Roberts Recital Hall

Wilson Hall/Wilson Theatre

Southeast Campus Housing

NursingBuilding

Spragins Hall

Union Grove Gallery &Meeting Hall

Wernher von Braun

Research Hall

Central Campus

Residence Hall

Shelbie King Hall

Credit Union

Physical Plant

Central Receiving & Shipping

Johnson Research

CenterWLRH Radio

Station

Business Services Building/

Copy Center

Social SecurityAdministration

Frank Franz Hall

Amphitheater

Fraternity/Sorority Row

Solar Energy Research

Propulsion Research Lab

Robert “Bud” Cramer Research Hall(NSSTC & NOAA Weather Forecasting Office)

Defense Acquisition University

Chan Auditorium

Charger Union

Intermodal Parking FacilityPublic Safety

Charger Village Food Court

Charger Village I

McDonnell Douglas Auditorium

SWIRLL (Severe Weather InstituteResearch and Lightning Laboratory)

Studio 106

Charger Park

Hampton Inn & Suites Home2 Suites by Hilton

401 Wynn Drive

The Bridges

Park Place

Colonial Centerat Lakeside

Progress CenterResearch Park Office Center

Corporate Office Park

Executive Plaza Office Park

Research Place

Lake 1

Lake 4

Lake 3 Lake 2

Lake 5

306 WynnDrive

4975 Bradford

Park WestCenter

Highland Office Park

Technology Pointe

106 WynnDrive

Bldg. 3

Bldg. 2

Bldg. 1

4815Bradford

305 Quality Circle

635 Discovery

Rainbow Daycare

Intuitive Center atResearch Center

Shelby Center for Science & Technology

Student ServiceBuildingColumbia

High School

Cabela'sCatholic

High School

Faulkner University

103 WynnDrive

215 WynnDrive

The Point

ThorntonResearch Park

University of Alabama in Huntsville Foundation

U.S. ArmyRedstone Arsenal

NASA Marshall SpaceFlight Center

UAHFoundation

(Zoned CRP West)

Huntsville International Airport

Downtown Huntsville

FutureDevelopment

CRP Applications

Bridge Street Town Centre

Future ResearchURS / Siemens /

M3 Superior SolutionsDynetics

General Atomics /Complex IQ

AlabamaSupercomputer /

AlabamaResearch & Education Network

DyneticsMTA /Gideon

Dynetics

DavidsonTechnologies

AT&T

InterFuze

Colsa

Aerojet Rocketdyne

ADTRAN

ADTRAN

AeroVironment

HuntsvilleUtilities

MacroIndustries

HII

Quantum Research

DeltaResearch

Vertiv

A-P-TResearch /

SEACQualitest

Shearer & Associates

Kratos Defense & Security Solutions

MBDA /Titertek Instruments

Lockheed Martin

DESE Research /SENTAR

SPS /MSSI

SimTech /Aranea Solutions /U.S. Army Corps

of Engineers

Baron Services

Lockheed Martin

AT&T

Amtec

Redstone Federal

Credit Union

NorthropGrumman

Benchmark Electronics

TeledyneBrown

Engineering

BizTech

Technical Micronics Controls

General Dynamics

AAR IntegratedTechnologies

Advanced Systems Technology

(United Technologies)

SAIC /FPMI

Rolls Royce /CenturyLink

Selex Galileo /Hawk Enterprises

NorthropGrumman

Dynetics

KRS, LLC /F1 Solutions

ASRC Federal

TARCOG

Radiance Technologies, Inc.OMI

KBRwyle

ERC /Cummings Aerospace

DirecTV

Dynetics

NorthropGrumman

NorthropGrumman

RaytheonCompany

SDI /Sierra Nevada

CINRAMBPI

HuntsvilleHospital

Parsons

Lockheed Martin

Digium, Inc.

AEgisTechnologies

ARSA, P.C.

Sikorsky Aircraft

RockwellCollins

ARC /MDA

Decibel

GarverYulista

Yulista

IRSPeopleTec

Jackson Center

BAE Systems /Orbital ATK /

BWXT

HuntsvilleHospital

Strata-GSolutions

Willbrook Solutions

Avion

KBRwyle

L3 /Summit 7

EADS

Technology Service Corporation / MTS

Dynetics

Raytheon /The SI /

Telephonics

NeXolve /Graham & Co.

SpacehabROC/CAMO

Sigmatech /Victory Solutions /

BRC

Stratolaunch / SnellingJohnson Controls /

Moog / Red Hat

Synapse Wireless /

Leidos

T&W Operations /NetWorx

Dynamic Concepts /SRA

Geocent

Dynetics /Vencore Logicore

Aviagen

S3, Inc.

AT Solution /SESI / KLO

Dynetics Field

Bentley

CFDRC /The Smith Family

Clinic for Genomic Medicine

CSRA / Trimble / Trident Technologies /

DynCorp International /ExoAnalytic Solutions /

Booz Allen Hamilton

Cubic GATRTechnologies

Gleason Research Associates /INTUITIVE /

Pinnacle Solutions

Chugach

LSINC / Trideum

i3 / MCR Qualis

Ares Corp.

Kord Technologies

HudsonAlphaMain

RFCU

Tecvox

HII

Intrepid

Paragon at 511

Voya

ger

Way

Discov

ery D

rive

Odyssey Drive

Old Madison Pike

Jan

Dav

is D

rive

Res

earc

h P

ark

Bou

leva

rd

Spar

kman

Dri

ve

Gilmer Drive

Technology Drive

Wyn

n D

rive

Research Drive

Corporate Drive

Bradford Drive

Ente

rpri

se W

ay

Pegasus

Dia

mon

d D

rive

Explorer Boulevard

Expl

orer

Bou

leva

rd

Eagle Drive

Qua

lity

Cir

cle

Gov

erno

rs W

est

University Drive

Holmes Avenue

Holmes Avenue

Moquin Drive

Farrow Road

B

ob H

eath

Dri

ve

Mark C. Sm

ith Drive

Ben

Gra

ves

Dri

ve

Uni

vers

ity

Gre

enw

ay

Ben

Gra

ves

Dr i

ve

Charger Way

John

Wri

ght D

rive

MIDTOWNEON THE PARK

565

72

More than 50 Years of Success3,843 acres11.8 million square feetAlmost 300 companies totalMore than 26,000 employees13,258 enrolled college students

Cummings Research Park

CRP WestInterior Lots (Lots that do not front Park boulevards, and must be accessed via

non-boulevard roads)

Boulevard Non-Access Lots (Lots that have property frontage on boulevards, but are accessed from non-boulevard roads)

Boulevard Access Lots (Lots that have property frontage on and are directly accessible via boulevards)

Lakeside Lots

Outside of official CRP boundaries

Established in 1962, Cummings Research Park (CRP) is one of the largest and most-respected research parks in the world. Since its inception CRP has grown to become the second-largest science and technology park in the U.S. and fourth-largest in the world.

CRP, as shown here, encompasses 3,843 acres and includes nearly 12 million square feet of administration, laboratory, research and development, classroom and manufacturing space.

Approx. 310 acres of land are available for development in CRP West. In order to stimulate economic development and investment, the price of land per acre in CRP is significantly lower than adjacent property, providing an attractive incentive for new and expanding companies.

Land parcels in CRP West range from four acres (minimum) to 18 acres, but may also be reconfigured to meet company requirements. For each parcel, the City of Huntsville will complete basic site preparation including road access, curbing, drainage, telecommunications, and utilities to the site.

CummingsResearchPark.com Scale in Miles 0 1/4 1/2 3/4

May 2018

Acreage depicted on this map should be confirmed with CRP Director if interested.

For more information and undeveloped land prices, contact Erin Koshut at 256.535.2086 or [email protected]

DRIV

EN B

Y SCI

ENCE

. POW

ERED

BY P

EOPL

E

HU

NTS

VIL

LE,

ALA

BA

MA

CRP EAST

72

72

231

431

53

255

431

231

20

COUN

TY L

INE

RD. OLD MADISON PIKE

BALC

H RD

.

HUGH

ES R

D.

JEFF

RD.

WINCHESTER RD.

PULA

SKI P

IKE

RIDE

OUT

RD.

MARTIN RD.

WEATHERLY RD.

LITTLE COVE RD.

OLD 431 HWY

RYLAND PIKE

BAILEY COVE RD.

SUTTON RD.

SHIE

LDS

RD.

SLAU

GHTE

R RD

.

MILL RD.

SPARKMAN DR.

WHI

TESB

URG

DR.

LILY FLAGG RD.

CARL T. JONES DR.

MOUNTAIN GAP RD.

DUG

HILL

RD.

FOUR MILE POST RD.

BOB WADE LANE

WAL

L TRI

ANA

HWY.

WAL

L TRI

ANA

HWY.

PATT

ON R

D.

NANC

E RD

.

PROV

IDEN

CE M

AIN

ST.

ANDR

EW

JACK

SON

WAY

LEDGES DR.

HOBBS RD.

DRAKE AVE.

AIRPORT RD.

BOB WALLACE

MASTIN LAKE RD.

OAKWOOD AVE.

PLUMMER RD.

BLAKE BOTTOM RD.

CAPSHAW RD.CAPSHAW RD.

DOUGLAS RD.

NICK DAVIS RD.NICK DAVIS RD.

BOB WALLACE

JORDAN LANE

RESE

ARCH

PAR

K BL

VD.

UNIVERSITY DR.

MEMO

RIAL

PKW

Y

MEMO

RIAL

PKW

Y

GOVERNORS DR.

OLD MONROVIA RD.

ZIER

DT R

D.

35810

35806

35758

35757

35824

35808

35801

35802

35763

35741

35748

35811

35816

3580535756

35749

35773

Redstone Arsenal

HuntsvilleInternational

Airport

Lim

esto

ne C

ount

y

Madi

son

Coun

ty

Neighborhood Market

Neighborhood Market

Neighborhood Market

Strong Station

Neighborhood Market

The Crossing in Jones Valley

(Planned)

Valley Bend at Jones Farm

Westside Center

The Shoppes of Madison

Parkway Place

M E D I A N H O U S E H O L D I N C O M E

For more information contact:

Ken Smith, DirectorResearch & Information Services

Huntsville/Madison CountyChamber 225 Church StreetHuntsville, Alabama 35801

[email protected]

P O P U L A T I O N

35 mile radius: 701,019

50 mile radius: 1,033,470

Regional Market: 1,167,317

(13 county region)

M E D I A N H O U S E H O L DI N C O M E

35 mile radius: $53,247


Regional Market: $47,940

(13 county region)

Source : ESRI

May 2018

$80,000 & Over

$70,000 - $79,999

$60,000 - $69,999

$50,000 - $59,999

$40,000 - $49,999

$30,000 - $39,999

Less than $29,999

MA

JO

R R

ET

AIL

ST

OR

ES

HU

NT

SV

ILL

E,

AL

AB

AM

AO

ne

of

Fo

rbe

s L

ea

din

g C

itie

s f

or

Bu

sin

ess..

.

72

72

231

431

53

255

431

231

20

COUN

TY L

INE

RD. OLD MADISON PIKE

BALC

H RD

.

HUGH

ES R

D.

JEFF

RD.

WINCHESTER RD.

PULA

SKI P

IKE

RIDE

OUT

RD.

MARTIN RD.

WEATHERLY RD.

LITTLE COVE RD.

OLD 431 HWY

RYLAND PIKE

BAILEY COVE RD.

SUTTON RD.

SHIE

LDS

RD.

SLAU

GHTE

R RD

.

MILL RD.

SPARKMAN DR.

WHI

TESB

URG

DR.

LILY FLAGG RD.

CARL T. JONES DR.

MOUNTAIN GAP RD.

DUG

HILL

RD.

FOUR MILE POST RD.

BOB WADE LANE

WAL

L TRI

ANA

HWY.

WAL

L TRI

ANA

HWY.

PATT

ON R

D.

NANC

E RD

.

PROV

IDEN

CE M

AIN

ST.

ANDR

EW

JACK

SON

WAY

LEDGES DR.

HOBBS RD.

DRAKE AVE.

AIRPORT RD.

BOB WALLACE

MASTIN LAKE RD.

OAKWOOD AVE.

PLUMMER RD.

BLAKE BOTTOM RD.

CAPSHAW RD.CAPSHAW RD.

DOUGLAS RD.

NICK DAVIS RD.NICK DAVIS RD.

BOB WALLACE

JORDAN LANE

RESE

ARCH

PAR

K BL

VD.

UNIVERSITY DR.

MEMO

RIAL

PKW

Y

MEMO

RIAL

PKW

Y

GOVERNORS DR.

OLD MONROVIA RD.

ZIER

DT R

D.

35810

35806

35758

35757

35824

35808

35801

35802

35763

35741

35748

35811

35816

3580535756

35749

35773

Redstone Arsenal

HuntsvilleInternational

Airport

Lim

esto

ne C

ount

y

Madi

son

Coun

ty

Neighborhood Market

Neighborhood Market

Neighborhood Market

Strong Station

Neighborhood Market

The Crossing in Jones Valley

(Planned)

Valley Bend at Jones Farm

Westside Center

The Shoppes of Madison

Parkway Place

M E D I A N H O U S E H O L D I N C O M E

For more information contact:

Ken Smith, DirectorResearch & Information Services

Huntsville/Madison CountyChamber 225 Church StreetHuntsville, Alabama 35801

[email protected]

P O P U L A T I O N

35 mile radius: 701,019

50 mile radius: 1,033,470

Regional Market: 1,167,317

(13 county region)

M E D I A N H O U S E H O L DI N C O M E



Regional Market: $47,940

(13 county region)

Source : ESRI

May 2018

$80,000 & Over

$70,000 - $79,999

$60,000 - $69,999

$50,000 - $59,999

$40,000 - $49,999

$30,000 - $39,999

Less than $29,999

2017RETAIL MARKET TOTAL SF VACANT SF 2014 2015 2016 2017

UNIVERSITY WEST 3,142,697 SF 370,275 SF 19.86% 18.74% 11.78% 6.93%

HIGHWAY 72/MADISON 2,780,223 SF 191,215 SF 7.32% 6.13% 6.88% 6.30%

JONES VALLEY/HAMPTON COVE 2,086,018 SF 92,587 SF 3.0% 3.55% 4.44% 4.71%

SOUTH HUNTSVILLE 2,750,708 SF 220,688 SF 10.70% 10.02% 8.02% 11.20%

NORTH HUNTSVILLE/HARVEST 1,898,159 SF 277,587 SF 19.01% 18.49% 14.62% 8.34%

TOTAL RETAIL 12,657,805 SF 1,152,352 SF 12.92% 12.01% 9.10% 7.49%

VACANCY RATE


Retail Market Overview

HUNTSVILLE RETAIL MARKET OVERVIEW

[12.6 MILLION SF TOTAL]


RETAIL:

Vacancy for the Huntsville retail market declined again in 2017 to 7.49%, down from the from previous year’s rate of 9.10%. Overall retail vacancy has decreased for the past three years and is expected to decrease again in 2018.

The dramatic shift to a more e-commerce dominated market has forced retailers to adopt new strategies to ensure future growth. Many consumers have trended for discount retail since the Great Recession, especially those products that can be ordered online. Malls and large strip centers have been hardest hit and many large companies, like Toys R Us, are vacating space. Square footage requirements are being re-evaluated for new and existing tenants.

Rental rates were flat nationally in 2017 while absorption slowed dramatically. However, rates in Huntsville and other growth cities increased in 2017 and should rise as the local economy continues to improve.

Vacancy rates decreased in three of five Huntsville submarkets. Jones Valley increased slightly to a still healthy 4.71% vacancy. South Huntsville vacancy also rose, mostly attributable to road construction and one large property struggling with tenancy.

The Madison/Hwy 72 market posted a vacancy rate of 6.30% and continues to expand westward along County Line Road and southward along I-565.

Land prices have escalated along Highway 72 as retailers still seem interested in locating along the busy road. With higher land prices follows higher rental rates, and some of the new properties will need $30 per sf to make projects financially feasible.

Publix will be the anchor tenant for The Shoppes at Redstone Square on Zierdt Road. The Town Madison development will add more retail to the south Madison market over the next three to five years.

Vacancy in Huntsville’s largest submarket, University West, decreased to 6.93% in 2017, representing a dramatic decrease from 18.74% vacancy in 2015. The razing of the former Madison Square Mall seems to have created a catalyst to spur future retail growth. Most retail centers in the market are at or close to 100% occupancy. A Jim ‘N Nick’s BBQ opened at the former TGI Friday’s location. Bridge Street occupancy remained strong with two new restaurants opening in 2017 – Urban Cookhouse and Kona Grill.

North Huntsville vacancy declined to 8.34%. Planet Fitness moved into the Fountain and that property is now 100% leased. Gander Mountain vacated space on North Parkway and that space has not back filled to date. Some new developments have occurred in the Hazel Green and Meridianville markets. Friendship Cove, a multi-use project, was announced on Winchester Road across the street



MIDCITY HUNTSVILLEConstruction continues at MidCity Huntsville.

TopGolf, one of the large entertainment venues

at MidCity, is open, and a 26,500 sf Dave &

Buster’s is scheduled to open July 2019.

from the new Wal-Mart. The Huntsville Commons retail center on Sparkman Drive was sold for $132 per sf to an out-of-town investor.

South Huntsville vacancy increased to 11.20%. The largest vacancies exist in the South Huntsville Square property, but this retail center should be well positioned for backfilling some vacancies given the new Grissom High School location and the completion of the road project.

Vacancy for the Jones Valley and Downtown markets was healthy at 4.71% in 2017, up slightly from 2016. Many of the new mixed-use developments in this market, like The Avenue, City Centre and Constellation will offer a retail component as part of the overall plans for the project. Merchants Square is now under construction and has named ULTA and Chuy’s as future tenants. Construction has begun at

the City Centre in downtown Huntsville with new tenants to include Wahlburgers and an artisanal food hall.

2017 Activity:

Town Madison, a 563–acre mixed use development located along I-565 in south Madison, picked up a lot of positive momentum in 2017. Announcements include a new Home2Suites, a large multi-family project, and a single family residential component called the Heights.

The MidCity development project has begun its rollout of mixed-use product. Top Golf and the announcement of Dave & Buster's gives the project two large entertainment venues that should attract a large volume of traffic and attention to the development. The project will also include retail, multi-family, and an office component.

The former Martin Stove building located at 3414 Governors Drive was sold to a local investor for $2,500,000. The 200,604 sf building will undergo a major renovation and will offer office and retail spaces.

RETAIL OCCUPANCY BY TYPE



RETAIL VACANCY RATES BY TYPE

TOTAL RETAIL SF BY MARKET TOTAL RETAIL SF BY TYPE

2017

T YPE VACANCY RATE

NEIGHBORHOOD 11.66%

NEIGHBORHOOD/ANCHORED 10.42%

POWER CENTER 6.72%

ENCLOSED MALL 2.62%

LARGE BOX 2.17%

2017

NeighborhoodAnchored

Power Center

Large Box

EnclosedMall

Neighborhood

30%

19%

24%

21%

5%

2017

North Huntsville/Harvest

JonesValley/HamptonCove

UniversityDrive West

Highway 72W/Madison

South Huntsville

15%

25%

22%

22%

16%


Recent Graham Activities

FORMER PNC BANK BRANCH

3,280 SF – 309 W. Washington Street Athens, ALGraham represented the owner in the disposition of this former bank branch office.Agent: Tyler Fanning

SOLD

5030 BRADFORD DRIVE

13,143 SF – Intuitive Center, 5030 Bradford Dr Huntsville, ALGraham represented the Aerospace Corporation in leasing space within Cummings Research Park. Agent: Tyler Fanning

HIGHWAY 431 SOUTH

4 Acres – Highway 431 South Huntsville, ALGraham represented the owner in the disposition of this land parcel in the Hampton Cove community.Agent: Tyler Fanning

8503 WHITESBURG DRIVE

13,125 SF – 8503 Whitesburg Drive Huntsville, ALGraham represented the buyer in purchasing this flex facility.Agent: Bart Smith, CCIM, SIOR

SOLDLEASED

RAS DELIVERY

20,460 SF – 115 Jetplex Circle Madison, ALGraham represented RAS Delivery in its lease of this industrial facility.Agent: Jeremy Pope, CCIM, SIOR

253 ROYAL DRIVE

9,375 SF – 253 Royal Drive Madison, AL Graham represented the landlord in leasing this space to XPro Supply.Agent: Jeremy Pope, CCIM, SIOR

LEASED

SOLD

LEASED



654 DISCOVERY DRIVE

53,626 SF – 654 Discovery Drive Huntsville, ALGraham represented Dynetics in its lease of this office building within Cummings Research Park.Agent: Bart Smith, CCIM, SIOR

FORMER GREYHOUND BUS STATION

6,127 SF – 601 Monroe Street Huntsville, ALGraham represented the owner in the disposition of the former Greyhound bus station, located in the heart of downtown Huntsville.Agents: Bart Smith, CCIM, SIOR & Tyler Fanning

SOLD

1038 RESEARCH BOULEVARD

40,500 SF – 2001 Nichols Drive Huntsville, ALGraham represented the owner in the disposition of this office building in South Huntsville.Agents: Bart Smith, CCIM, SIOR & Tyler Fanning

2001 NICHOLS DRIVE

SOLD

4900 BRADFORD DRIVE

30,000 SF – 4900 Bradford Drive Huntsville, ALGraham represented an investment group in purchasing this office facility within Cummings Research Park.Agent: Bart Smith, CCIM, SIOR

SOLD

1020 WINCHESTER ROAD

12,100 SF – 1020 Winchester Road Huntsville, ALGraham represented an investor in its purchase of this industrial facility in East Huntsville.Agent: Bart Smith, CCIM, SIOR

1638 THOMPSON ROAD

122,200 SF – 1638 Thompson Road Hartselle, ALGraham represented the owner in leasing this industrial space to iCool USA.Agent: Bart Smith, CCIM, SIOR

LEASED

SOLD

LEASED



CUSTOM ASSEMBLY

252,800 SF – 5323 Endeavor Way Mooresville, ALGraham represented Custom Assembly in its lease of space at SouthPoint Business Park.Agent: Jeremy Pope, CCIM, SIOR

LEASED

BONEAL AEROSPACE

124,630 SF – 1000 James Record Road Huntsville, ALGraham represented both landlord and tenant in leasing this space to Boneal Aerospace.Agent: Jeremy Pope, CCIM, SIOR

LEASED

108 SKYLAB DRIVE

10,000 SF – 108 Skylab Drive Huntsville, AL

Graham represented the owner in the disposition of this industrial facility. Agent: Jeremy Pope, CCIM, SIOR

1000 JAMES RECORD ROAD

359,304 SF – 1000 James Record Road Huntsville, AL Graham represented the owner in the disposition of this industrial facility.Agent: Jeremy Pope, CCIM, SIOR

SOLD

450 11TH STREET

94,652 SF – 450 11th Street Arab, ALGraham represented the owner in the disposition of this industrial facility.Agent: Jeremy Pope, CCIM, SIOR

JETPLEX CENTER

145,497 SF – 2995 Wall Triana Highway & 799 James Record Road Huntsville, AL Graham represented the owner in the disposition of this multi-tenant industrial facility within Jetplex Industrial Park.Agent: Jeremy Pope, CCIM, SIOR

SOLDSOLD

SOLD

205 EASTSIDE SQUAREHUNTSVILLE, AL

AVAILABLE FOR LEASE: 12,600 SF

• Located in downtown Huntsville on the courthouse square

• Former law library

• 3 story building with open floor plan and roof access

Contact: Bart Smith, CCIM, SIOR

[email protected]


For Sale or Lease

PHYSICIANS’ PLAZAPHYSICIANS’ PLAZA

799 JAMES RECORD ROADHUNTSVILLE, AL

AVAILABLE FOR LEASE: Up to 60,000 SF

• Located in Jetplex Industrial Park

• Only 1.5 miles to I-565

• 19' Clear height

Contact: Jeremy Pope, CCIM, SIOR

[email protected]

4991 CORPORATE DRIVEHUNTSVILLE, AL

AVAILABLE FOR SALE: 181,744 SF

• Office/warehouse/lab facility in Cummings Research Park• Adjacent to the new MidCity development• Situated on 14 acres with an additional 4–acre outparcel available

Contact: Jeremy Pope, CCIM, SIOR [email protected]

205 EASTSIDE SQUARE

JETPLEX CENTER

495 PRODUCTION AVENUEMADISON, AL


• Two-story flex building with separately demised east and west sides

• 100% conditioned facility• Situated on 2.4 acres within Jetplex Circle Business Park


[email protected] 495 PRODUCTION AVENUE

4991 CORPORATE DRIVE

2914 GREEN COVE ROADHUNTSVILLE, AL


• Fully heated and air-conditioned

• Situated on 7.73 acres

• Excellent accessibility to South Memorial Parkway

Contact: Bart Smith, CCIM, SIOR [email protected]

2914 GREEN COVE ROAD


For Sale or Lease

805 MADISON STREETHUNTSVILLE, AL

AVAILABLE FOR LEASE: UP to 7,000 SF

• Located in the heart of the medical district

• Space is divisible

Contact: Bart Smith, CCIM, SIOR

[email protected]

997 HIGHWAY 231 SOUTHLACEY'S SPRING, AL

AVAILABLE FOR SALE OR LEASE: 11,250 SF

• Situated on ±7 acres

• 16' Clear ceiling height

• Ideally suited for a fabrication shop


[email protected] HIGHWAY 231

805 MADISON STREET

4100 MARKET STREET AT REDSTONE GATEWAYHUNTSVILLE, AL


• Pedestrian friendly, mixed use business environment

• Situated at the primary access point of Redstone Arsenal with visibility from I-565

Contacts: Bart Smith, CCIM, SIOR Tyler Fanning [email protected] [email protected]

Jeremy Pope, CCIM, SIOR

[email protected] GATEWAY

1241 GNAT POND ROADLEIGHTON, AL


• 100% conditioned facility

• 25’ to 33’ ceiling height

• Dock high and ground level loading

• Situated on 10 acres


[email protected] 1241 GNAT POND ROAD

7500 SOUTH MEMORIAL PARKWAYHUNTSVILLE, AL


• Unique office/retail opportunity in South Huntsville

• Center offers high visibility, convenient ingress/egress, and monument signage opportunities

Contacts: Bart Smith, CCIM, SIOR Tyler Fanning [email protected] [email protected]

MAIN STREET SOUTH

MARTIN ROADMARTIN ROAD

565


For Sale or Lease

2100 JACKSON AVENUEHUNTSVILLE, AL

AVAILABLE FOR LEASE: 15,000 SF

• Former Supreme Beverage facility

• Building includes 2,600 SF of refrigerated storage area

• Centrally located near downtown Huntsville with convenient access to I-565

and Memorial Parkway

Contacts: Bart Smith, CCIM, SIOR Jeremy Pope, CCIM, SIOR

[email protected] [email protected] PHYSICIANS’ PLAZAPHYSICIANS’ PLAZA

12310 HIGHWAY 231MERIDIANVILLE, AL


• Highly visible location along Highway 231

• Suitable for a variety of uses

• Located on a 0.67–acre outparcel of Flint Crossing Market Place,

a Publix anchored shopping center

Contact: Tyler Fanning [email protected]

WILL MCCOMB DRIVE AT MOORESVILLE ROADMOORESVILLE, AL

AVAILABLE FOR SALE: 50 Acres

• Excellent interstate accessibility to I-565 and I-65• All utility services available• Located in TIF (tax increment financing) District 6• Less than 4 miles from Polaris and GE Aviation


2100 JACKSON AVENUE

FORMER PNC BANK BRANCH

PHYSICIANS' PLAZA AT CRESTWOODHUNTSVILLE, AL

AVAILABLE FOR LEASE: 1,426 or 4,345 SF

• Two-story medical office building on the campus of Crestwood Medical Center

• Designated parking for patients, employees and physicians


PHYSICIANS' PLAZA

reduced to 40%

WILL MCCOMB DRIVE

ZIERDT ROAD - LANDMADISON, AL

AVAILABLE FOR SALE: 4.6 Acres

• Adjacent to the Edgewater community

• Within walking distance of Town Madison and the recently announced minor league baseball stadium

• B-2 Zoning; ideal for mixed use or retail development

Contact: Tyler Fanning [email protected] ROAD


Graham Huntsville Group

JEREMY POPE, CCIM, SIOR

SENIOR VICE PRESIDENT

[email protected]

JOINED GRAHAM & COMPANY: 2000

AFFILIATIONS/HONORS:

• Certified Commercial Investment

Member (CCIM) designation

• Society of Industrial & Office

Realtors (SIOR) designation

• Member NAIOP – AL Chapter

• Huntsville/Madison County Convention & Visitors Bureau,

Board Member

CLIENTS INCLUDE:

• AZ Technology • Boneal Aerospace • Custom Assembly

• Kaman International • Parksite • Space & Rocket Center

• 9 Round Fitness • Intergraph • Huntsville Hospital •

Kuehne & Nagel • Harris Corporation • International Truck

& Engine

TYLER FANNINGVICE PRESIDENT

[email protected]



• CCIM Candidate (Certified

Commercial Investment Member)

• Huntsville Rotaract Club,

Member

• Huntsville Committee of 100 Young Professionals

Initiative, Member

• Huntsville High School Wrestling Coach

CLIENTS INCLUDE:

• MITRE • Prometric • PNC Bank • Aerospace Corporation

• Stephen Gould Corporation • Wells Fargo Securities

• Southern Research • DRS • LBYD Engineering

BART SMITH, CCIM, SIOR

MANAGING BROKER

[email protected]



• Certified Commercial Investment

Member (CCIM) designation

• Society of Industrial & Office

Realtors (SIOR) designation

• Alabama Commercial Real Estate Center (ACRE),

Leadership Council

• Alabama CCIM Chapter, VP of Board of Directors

• Huntsville Rotary Club, Strive Mentor

• Salvation Army – Advisory Board

• First Methodist Church – Board of Directors

CLIENTS INCLUDE:

• Sanmina-SCI • Northrop Grumman • Cisco • COPT

• Stanley Corporation • Wells Fargo Securities • DirecTV

• ATK • MITRE • Dynetics • AEGON • Orbital Sciences

• Booz Allen Hamilton • MetLife • Rockwell Collins ERIKA HARLESSREAL ESTATE ASSISTANT

[email protected]


Corporate Services


INDIVIDUALMEMBERSHIPS

INDIVIDUAL MEMBERSHIPS

SIOR–Society of Industrial & Office Realtors

CCIM–Certified Commercial Investment Member

BOMA–Building Owners and Managers Association

CRE–Counselors of Real Estate

IREM–Institute of Real Estate Management

ICSC–International Council of Shopping Centers

LEED–Leadership in Energy and Environmental Design

Appraisal Institute

A B O U T G R A H A M & C O M P A N Y

Founded in 1978, Graham & Company is a full-service commercial real estate firm based in Birmingham. With

offices in Birmingham and Huntsville, Alabama and Jacksonville and the Gulf Coast, Florida, the company offers

professional services including sales, leasing, property management (GCP), appraisal, consulting, investment

and development. In response to client demand, Graham has systematically extended its range of services and

geographic reach, now serving clients throughout Alabama and several surrounding states.

C O M M U N I T Y I N V O LV E M E N T

Part of making our community a better place to live and work is an important tenet of Graham & Company.

Our brokers and agents are active with local organizations such as the Salvation Army, Habitat for Humanity,

volunteer coaching, church leadership, and land conservation organizations. These good causes reflect a

diversity among our associates in the Huntsville office, and our collective commitment to making Huntsville a

place we are proud to call home.

NAIOP–Commercial Real Estate Development Association

A F F I L I AT I O N S

Cover: Photography by Marty Sellers | www.sellersphoto.com

Page 6: Bryant Bank Photo courtesy of Bryant Bank

Copyright © 2018

Reproduction, in whole or part, of this report is prohibited.

Information deemed reliable, but not guaranteed.

Special thanks to Hiroko Sedensky and the Huntsville/Madison

County Chamber for providing the Cummings Research Park

map and the Major Retail Stores map, pages 10-13.

1801 Fifth Avenue

Suite 300

Birmingham, AL 35223

TEL 205.871.7100

FAX 205.871.3331

| B I R M I N G H A M

grahamcompany.com

1500 Perimeter Pkwy

Suite 150

Huntsville, AL 35806

TEL 256.382.9010

FAX 256.382.9011

| H U N T SV I L L E

9440 Philips Highway

Suite 1

Jacksonville, FL 32256

TEL 904.281.0003

FAX 904.281.0849

| JAC K S O N V I L L E

100 Richard Jackson Blvd.

Suite 115

Panama City Beach, FL 32407

TEL 850.563.1500

FAX 850.563.1504

| G U L F C OA S T

CORPORATE

Steve Graham MAI, CRE, Chairman

Mike Graham, CCIM, SIOR, President

OFFICE & INDUSTRIAL

Jeremy Pope, CCIM, SIOR

Tyler Fanning

MANAGING BROKER

Bart Smith, CCIM, SIOR

REAL ESTATE ASSISTANT

Erika Harless

GRAHAM & COMPANY PERSONNEL - Huntsville, Alabama

1500 Perimeter Parkway, Suite 150Huntsville, AL 35806TEL 256.382.9010

grahamcompany.com

BIRMINGHAM HUNTSVILLE JACKSONVILLE GULF COAST

market survey | huntsville · 2018-11-28 · market decreased to 4.24% in 2017, down from the 6.74%...

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