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2018

MARKET SURVEY

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GRAHAM REPORT 2018 HUNTSVILLE, ALABAMA 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retail market continued to perform well with vacancy rates falling to 7.49% as new developments began to replace older, outdated projects.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.

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


2018 [ 23.3 MILLION SF TOTAL ] OVERALL VACANCY 5.97% SINGLE TENANT 4.72% MULTI-TENANT 10.20%

Industrial Market Overview

HUNTSVILLE INDUSTRIAL MARKET OVERVIEW INDUSTRIAL: Huntsville’s 2017 industrial market

Industrial Announcements of Note in 2017:

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.

• 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.

HUNTSVILLE INDUSTRIAL ABSORPTION

2017 INDUSTRIAL MARKET VACANCY RATES INDUSTRIAL MARKET

SINGLE TENANT

M U LT I TENANT

OV E R A L L

JETPLEX

7.70%

12.46%

8.81%

NORTH | CENTRAL

4.81%

2.30%

4.24%

0%

0%

0%

CHASE

SF

VAC A N T S F

2013

VAC A N C Y R AT E 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

5 42 , 5 45 SF

17.52%

27.22%

22.69%

14.28%

10.20%

23,426,861 SF*

1,397,618 SF

10.03%

8.97%

7.06%

6.86%

5.97%

2017 INDUSTRIAL MARKET

TOTAL INDUSTRIAL

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

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[ 13.6 MILLION SF TOTAL ] OVERALL VACANCY 8.81% SINGLE TENANT 7.70% MULTI-TENANT 12.46%

Jetplex Industrial Market

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

• 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. 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.

• Supreme Beverage

Major area tenants include:

Kohler, Remington, Yulista, SES, & Georgia Pacific.

SUPREME BEVERAGE Supreme Beverage is a third generation, family owned and operated, beverage distributor. Supreme Beverage services 18 counties in the North Alabama area.

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[ 4.76 MILLION SF TOTAL ] OVERALL VACANCY 4.24% SINGLE TENANT 4.81% MULTI-TENANT 2.30%

North | Central Huntsville Industrial Market

Vacancy for the North/Central Huntsville industrial

Recent

market decreased to 4.24% in 2017, down from the

Industrial Market:

developments

in

the

North/Central

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.

• 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.

TOYOTA

Toyota’s North Huntsville facility manufactures 4 cylinder, V6 and V8 engines.

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[ 5.2 MILLION SF TOTAL ] OVERALL VACANCY 0% SINGLE TENANT 0% MULTI-TENANT 0%

Chase Industrial Market

Chase Industrial Park remained at zero vacancy in

Major Area Tenants Include:

2017, marking the third consecutive year of 100%

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

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.

PPG

PPG is a global supplier of paints, coatings, optical products, specialty materials, and fiber glass.

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[18 MILLION SF TOTAL] OVERALL VACANCY SINGLE TENANT MULTI-TENANT

12.26% 6.32% 17.53%

Office Market Overview

HUNTSVILLE OFFICE MARKET OVERVIEW 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.

HUNTSVILLE OFFICE ABSORPTION

2017 OFFICE MARKET VACANCY RATES OFFICE MARKET

SINGLE TENANT

M U LT I TENANT

OV E R A L L

CUMMINGS RESEARCH PARK

6.19%

15.78%

9.98%

JETPLEX/ MADISON

8.47%

29.61%

25.79%

CENTRAL BUSINESS DISTRICT

7.31%

14.95%

14. 20%

2017 OFFICE MARKET

VAC A N C Y R AT E 2014 2015 2016

T O TA L S F

VAC A N T S F

2013

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%

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[ 3.5 MILLION SF TOTAL ] OVERALL VACANCY 14.20% SINGLE TENANT 7.31% MULTI-TENANT 14.95%

Central Business District (CBD) Office Market

The Huntsville downtown/central business district

Recent Developments:

(CBD) office market consists of approximately three

• 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.

million sf and is dominated by the business services sector including law firms, banking, accounting, and real estate companies. City, county, and government employees also make the CBD home. Vacancy in the CBD decreased to 14.20%, down from the previous year’s 17.22% rate. New development 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.

• 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 footprint 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 facilities are strategically located close to the Martin Road entrance of Redstone Arsenal. Major Area Tenants Include:

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

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 Twickenham Square.

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[1.7 MILLION SF TOTAL ] OVERALL VACANCY 25.79% SINGLE TENANT 8.47% MULTI-TENANT 29.61%

Jetplex | Madison Office Market

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. Major Area Tenants Include:

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

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.

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[ 12.73 MILLION SF TOTAL ] OVERALL VACANCY 9.98% SINGLE TENANT 6.19% MULTI-TENANT 15.78%

Cummings Research Park Office Market

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

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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 broke ground on a new 25,000 sf highbay 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.

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.

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MIDTOWNE

Dynetics

Dynetics 10.09 AC

8.75 AC

7.97 AC

27 AC 7.61 AC 6.57 AC

10.6 AC

5 AC

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Moq

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30 AC

ADTRAN

6.16 AC

ADTRAN

18.35 AC

43.92 AC

Lake 3

7.35 AC

19.23 AC

35.88 AC

18 AC

12.3 AC Explorer Boulevard 9.3 AC

rive ath D e H b o B

11.3 AC

18.12 AC

Jan Davis Drive

Digium, Inc.

Rockwell Collins 6.43 AC

11.35 AC Cubic GATR Technologies

20 AC

6.78 AC

11 AC

Raytheon Company

8.7 AC Northrop Grumman 8.64 AC

14 AC

11 AC

8.2 AC

KBRwyle

10.91 AC

Eagle Drive

L3 / Summit 7 9.5 AC

Catholic High School

Quality Circle

BPI

Diamond Drive

18 AC

DirecTV

The Bridges

Park West Center

Technology Pointe

Research Park Office Center

CRP Applications Lake 5

CINRAM

Huntsville Hospital

Bridge Street Town Centre

KBRwyle

Defense Acquisition University

Parsons

CSRA / Trimble Trident Technolog DynCorp Internati ExoAnalytic Solut Booz Allen Hami

ERC / Cummings Aerospace

Old Madison Pike

UAH Foundation (Zoned CRP West)

InterFuze

9.67 AC Technology Service Corporation / MTS

Northrop Grumman

6.49 AC

6.22 AC

305 Quality Circle

Highland Office Park

Progress Center

Hampton Inn & Suites Home2 Suites by Hilton

Cabela's

Huntsville Hospital ARSA, P.C. NeXolve / Graham & Co.

Thornton Research Park University of Alabama in Huntsville Foundation Hu

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11.1 AC

6.08 AC

AEgis Technologies

7 AC

ASRC Aviagen Federal

11.78 AC Logicore

Lake 4

Decibel

SAIC / FPMI

rive

Synapse Wireless / 6.2 AC Leidos

The Point

Dynetics / Raytheon / Vencore The SI / Telephonics

10.75 AC

8.3 AC

ARC / MDA

Odys sey D

5.21 AC

Bentley

6.4 AC

86 AC

Lake 2

Colsa

AeroVironment

7.9 AC

19.69 AC

BAE Systems / Lake 1 Quantum Orbital ATK / BWXT Research

AT&T

5.91 AC

~ 50 acres CRP Landmark Site

4.6 AC

10.76 AC

10 AC

Aerojet Rocketdyne

5.64 AC

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12 AC

Colonial Center at Lakeside

Di

Jackson Center

HudsonAlpha Main

9.22 AC

9.3 AC

Davidson 7.19 AC Technologies 7.59 AC

51.95 AC

8.07AC

Columbia High School

9.31 AC

Dynetics

10.63 AC 635 Discovery

Gove rnors W est

7.7 AC

10 AC

Yulista

sc ov er

Farrow Road

9.6 AC

S3, Inc.

Intrepid

CenturyLink 6 AC SDI / Sierra Nevada

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CFDRC / The Smith Family Clinic for Genomic Medicine

7.8 AC

10.34 AC

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5 AC 9.6 AC

Huntsville 5 AC Utilities 3.2 AC Rolls Royce /

5 AC

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8.47 AC

9.2 AC

6.04 AC

10 AC

15.47 AC

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10.75 AC

12.71 AC

Macro Industries

18 AC

Voyager Way

12.38 AC

Alabama Supercomputer / Alabama Research & 5 AC Education MTA / Network Gideon

7 AC 6.5 AC Bldg. 2 HII Future Research Bldg. 1 URS / Siemens / i3 / MCR M3 Superior Solutions 11 AC Qualis Bldg. 3 T&W Operati Discovery Place LSINC / NetWorx Trideum 24 AC 13.26 AC Delta 6 AC Kord Research 5.35 AC 5 AC Technologies

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10.64 AC 7.3 AC

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Dynetics 14 AC

Dynetics Field

6.75AC

11.96 AC

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CRP WEST

ON THE PARK

ort

U.S. Army Redstone Arsenal NASA Marshall Space Flight Center


CRP EAST General Atomics / Complex IQ

72

Lockheed Martin

306 Wynn Drive Amtec

Lockheed Martin

Geocent

Strata-G Solutions

4815 Bradford

Technical Micronics Controls

AT&T

Ares Corp. UAH SMAP

215 Wynn Drive

More than 50 Years of Success 3,843 acres 11.8 million square feet Almost 300 companies total More than 26,000 employees 13,258 enrolled college students

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Nursing Salmon Building Wilson Hall/ Library Wilson Theatre Chan Auditorium Business Administrative Building Charger Union

Teledyne Brown Engineering

Northrop Grumman

ROC/CAMO Spacehab

103 Wynn Drive

General Dynamics

Advanced Systems Technology (United Technologies)

Roberts Hall/Roberts Recital Hall

Central Campus Amphitheater Residence Hall

Shelby Center for Science & Technology

SWIRLL (Severe Weather Institute Research and Lightning Laboratory) Robert “Bud” Cramer Benchmark Research Hall Electronics (NSSTC & NOAA Weather Forecasting Office)

Willbrook Solutions

University Center/ Exhibit Hall

Student Service Building

University Fitness Center

Intermodal Parking Facility Public Safety Charger Village Food Court Charger Village I

Engineering Building/ Admissions

Fraternity/ Sorority Row Southeast Campus Housing

Credit Union Optics Building

McDonnell Douglas Auditorium Materials Science Building

Charger Park

Wernher von Braun Research Hall Solar Energy Research

Shelbie King Hall AAR Integrated Technologies

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Holmes Avenue

Charger Way

Business Services Building/ Copy Center

Olin B. King Technology Hall

Spragins Hall

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Paragon at 511

Bevill Center

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Cummings Research Park

Av en

Union Grove Gallery & Meeting Hall

Ben Gra

SPS / MSSI Fire Station #12

KRS, LLC / F1 Solutions 4975 Redstone Bradford Federal Credit Union

Dynamic Concepts / SRA

BizTech

DESE Research / SENTAR MBDA / Titertek Instruments

Bradford Drive

RFCU SimTech / Aranea Solutions / U.S. Army Corps of Engineers

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University Greenway

Intuitive Center at Research Center Gleason Research Associates / INTUITIVE / Research Place Pinnacle Solutions Rainbow Daycare Sikorsky Northrop Aircraft Grumman Premier Selex Galileo / Preschool Hawk Enterprises

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Frank Franz Hall

Morton Hall

John Wright Drive

OMI

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Ben Graves Drive

Garver

Studio 106 Executive Plaza Office Park

Sparkman Drive

Research Park Boulevard

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AT Solution / TARCOG SESI / KLO EADS Shearer & Corporate Office Park Associates Stratolaunch / Snelling Johnson Controls / Corporate Drive Moog / Red Hat Sigmatech / Faulkner PeopleTec Victory Solutions / Vertiv University Technology Center BRC Social Security Strayer University Lockheed Administration Chugach Baron Martin Services A-P-T Yulista Kratos Defense & 401 Wynn Research / Qualitest Radiance Security Drive SEAC Technologies, Inc. Research Drive Solutions

ts Hun

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Physical Plant Johnson Research Central Receiving WLRH Center & Shipping Radio Propulsion Station Research Lab

vill

e

May 2018

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 West Interior Lots (Lots that do not front Park boulevards, and must be accessed via non-boulevard roads)

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.

Boulevard Non-Access Lots

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.

Boulevard Access Lots

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.

Outside of official CRP boundaries

CummingsResearchPark.com

(Lots that have property frontage on boulevards, but are accessed from non-boulevard roads) (Lots that have property frontage on and are directly accessible via boulevards)

Lakeside Lots

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 ekoshut@hsvchamber.org Scale in Miles

0

1/4

1/2

3/4


HUNTSVILLE, ALABAMA

35757 WALL TRIANA HWY.

PROVIDENCE MAIN ST.

JEFF RD. NANCE RD.

Madison County

CAPSHAW RD.

35806 BLAKE BOTTOM RD.

Strong Station

NE LA

Neighborhood Market

DOUGLAS RD.

AN

35749

NICK DAVIS RD.

RD JO

255

CAPSHAW RD.

OL

D

MO NR OV

.

SLAUGHTER RD.

72 The Shoppes of Madison

PLUMMER RD.

RESEARCH PARK BLVD.

Limestone County

NICK DAVIS RD.

D

MASTIN LAKE RD.

SPA

Neighborhoo

UNIV

ERS

ITY

DR.

HUGHES RD.

35758

OLD MADISON PIKE Neighborhood Market

RIDEOUT RD.

MILL RD.

20

35824

ON RD.

Huntsville International Airport

ZIERDT RD.

35756

WALL TRIANA HWY.

BALCH RD.

Westside Center

COUNTY LINE RD.

One of Forbes Leading Cities for Business...

53

R IA

M A J O R R E TA I L S T O R E S

35773


MEDIAN HOUSEHOLD INCOME

$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

BOB WADE LANE

231

35811

431

SHIELDS RD.

35810

L PKW

PULASKI PIKE

Y

WINCHESTER RD.

MEM

ORIA

P O P U L AT I O N

72

35 mile radius:

701,019

50 mile radius:

1,033,470

PIKE

ND RYLA Market: Regional

1,167,317

(13 county region)

MAN DR.

t

35801 RD.

35816

MEDIAN HOUSEHOLD I N C O M E 35748

ANDREW JACKSON WAY

OAKWOOD AVE.

DUG

H ILL

Parkway Place

35 mile radius:

$53,247

50 mile radius:

$48,968

Regional Market:

$47,940

(13 county region) Valley Bend at Jones Farm

GOVERNORS DR.

B WALLACE

35741

Source : ESRI

BOB WALLACE

35805

RAKE AVE.

LIT

AIRPORT RD. RL

WHITESBURG DR.

CA J T.

ON

RT

IN

edstone Arsenal

.

The Crossing in Jones Valley (Planned)

LILY FLAGG RD.

Neighborhood Market

WEATHERLY RD.

231

LE

DG

ES

DR

For more information contact:

.

SUTTON RD.

35802

OLD 431 HWY

431

UNTAIN G

AP

MO

BAIL EY CO VE RD.

MA

. RD

DR

R MILE POST RD.

ORIA MEM

WY L PK

FOU

35808

ES

RD .

35763

Ken Smith, Director Research & Information Services Huntsville/Madison County Chamber 225 Church Street Huntsville, Alabama 35801 256.535.2026 ksmith@hsvchamber.org www.HSVchamber.org

May 2018


[12.6 MILLION SF TOTAL]

Retail Market Overview

OVERALL VACANCY

7.49%

HUNTSVILLE RETAIL MARKET OVERVIEW 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

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.

VAC A N C Y R AT E 2015 2016

2017

19.86%

18.74%

11.78%

6.93%

191,215 SF

7.32%

6.13%

6.88%

6.30%

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%

12,657,805 SF

1,152,352 SF

12.92%

12.01%

9.10%

7.49%

2017 R E TA I L M A R K E T

T O TA L S F

VAC A N T S F

2014

UNIVERSITY WEST

3,142,697 SF

370,275 SF

HIGHWAY 72/MADISON

2,780,223 SF

JONES VALLEY/HAMPTON COVE

TOTAL RETAIL

14

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE


Retail Market Overview

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.

MIDCITY HUNTSVILLE Construction 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. RETAIL OCCUPANCY BY TYPE

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE

15


Retail Market Overview

TOTAL RETAIL SF BY MARKET

University Drive West

TOTAL RETAIL SF BY TYPE Power Center

Highway 72W/ Madison

Neighborhood Anchored

22%

30%

25%

21% 16%

Jones Valley/ Hampton Cove

15% 22% North Huntsville/ Harvest

24%

South Huntsville

Neighborhood

2017

TYPE

VAC A N C Y R AT E

NEIGHBORHOOD

11.66%

NEIGHBORHOOD/ANCHORED

10.42%

POWER CENTER

6.72%

ENCLOSED MALL

2.62%

LARGE BOX

2.17% 2017

G R A H A M & C O M PA N Y

|

Large Box 2017

RETAIL VACANCY RATES BY TYPE

16

5%

19%

2018 MARKET SURVEY

|

HUNTSVILLE

Enclosed Mall


Recent Graham Activities

LEASED

5030 BRADFORD DRIVE

SOLD

HIGHWAY 431 SOUTH

13,143 SF – Intuitive Center, 5030 Bradford Dr Huntsville, AL Graham represented the Aerospace Corporation in leasing space within Cummings Research Park.

4 Acres – Highway 431 South Huntsville, AL Graham represented the owner in the disposition of this land parcel in the Hampton Cove community.

Agent: Tyler Fanning

Agent: Tyler Fanning

SOLD

FORMER PNC BANK BRANCH

SOLD

8503 WHITESBURG DRIVE

3,280 SF – 309 W. Washington Street Athens, AL Graham represented the owner in the disposition of this former bank branch office.

13,125 SF – 8503 Whitesburg Drive Huntsville, AL Graham represented the buyer in purchasing this flex facility.

Agent: Tyler Fanning

Agent: Bart Smith, CCIM, SIOR

LEASED

RAS DELIVERY

LEASED

253 ROYAL DRIVE

20,460 SF – 115 Jetplex Circle Madison, AL Graham represented RAS Delivery in its lease of this industrial facility.

9,375 SF – 253 Royal Drive Madison, AL Graham represented the landlord in leasing this space to XPro Supply.

Agent: Jeremy Pope, CCIM, SIOR

Agent: Jeremy Pope, CCIM, SIOR

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE

17


Recent Graham Activities

SOLD

SOLD

FORMER GREYHOUND BUS STATION

1038 RESEARCH 2001 NICHOLS DRIVE BOULEVARD

6,127 SF – 601 Monroe Street Huntsville, AL Graham represented the owner in the disposition of the former Greyhound bus station, located in the heart of downtown Huntsville.

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

Agents: Bart Smith, CCIM, SIOR & Tyler Fanning

SOLD

SOLD

1020 WINCHESTER ROAD

4900 BRADFORD DRIVE

12,100 SF – 1020 Winchester Road Huntsville, AL Graham represented an investor in its purchase of this industrial facility in East Huntsville.

30,000 SF – 4900 Bradford Drive Huntsville, AL Graham represented an investment group in purchasing this office facility within Cummings Research Park.

Agent: Bart Smith, CCIM, SIOR

Agent: Bart Smith, CCIM, SIOR

LEASED

LEASED

654 DISCOVERY DRIVE

18

1638 THOMPSON ROAD

53,626 SF – 654 Discovery Drive Huntsville, AL Graham represented Dynetics in its lease of this office building within Cummings Research Park.

122,200 SF – 1638 Thompson Road Hartselle, AL Graham represented the owner in leasing this industrial space to iCool USA.

Agent: Bart Smith, CCIM, SIOR

Agent: Bart Smith, CCIM, SIOR

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE


Recent Graham Activities

LEASED

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

LEASED

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

SOLD

108 SKYLAB DRIVE

SOLD

1000 JAMES RECORD ROAD

10,000 SF – 108 Skylab Drive Huntsville, AL Graham represented the owner in the disposition of this industrial facility.

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

Agent: Jeremy Pope, CCIM, SIOR

SOLD

SOLD

450 11 TH STREET 94,652 SF – 450 11th Street Arab, AL Graham 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

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE

19


For Sale or Lease

4991 CORPORATE DRIVE HUNTSVILLE, 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

jeremyp@grahamcompany.com

4991 CORPORATE DRIVE

495 PRODUCTION AVENUE MADISON, AL

AVAILABLE FOR SALE: 40,800 SF • Two-story flex building with separately demised east and west sides • 100% conditioned facility • Situated on 2.4 acres within Jetplex Circle Business Park Contact: Jeremy Pope, CCIM, SIOR jeremyp@grahamcompany.com

495 PRODUCTION AVENUE

799 JAMES RECORD ROAD HUNTSVILLE, 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

jeremyp@grahamcompany.com

JETPLEX CENTER

205 EASTSIDE SQUARE HUNTSVILLE, 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

barts@grahamcompany.com

PHYSICIANS’ 205 EASTSIDE PLAZA SQUARE

2914 GREEN COVE ROAD HUNTSVILLE, AL

AVAILABLE FOR SALE: 85,000 SF • Fully heated and air-conditioned • Situated on 7.73 acres • Excellent accessibility to South Memorial Parkway Contact: Bart Smith, CCIM, SIOR

barts@grahamcompany.com

2914 GREEN COVE ROAD

20

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE


For Sale or Lease

4100 MARKET STREET AT REDSTONE GATEWAY HUNTSVILLE, AL

AVAILABLE FOR LEASE: Up to 14,500 SF • 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

REDSTONE GATEWAY

Tyler Fanning

barts@grahamcompany.com tylerf@grahamcompany.com

Jeremy Pope, CCIM, SIOR jeremyp@grahamcompany.com

1241 GNAT POND ROAD LEIGHTON, AL

AVAILABLE FOR SALE: 147,500 SF • • • •

100% conditioned facility 25’ to 33’ ceiling height Dock high and ground level loading Situated on 10 acres

Contact: Jeremy Pope, CCIM, SIOR jeremyp@grahamcompany.com

1241 GNAT POND ROAD

7500 SOUTH MEMORIAL PARKWAY HUNTSVILLE, AL

AVAILABLE FOR LEASE: Up to 10,000 SF • 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

barts@grahamcompany.com tylerf@grahamcompany.com

MAIN STREET SOUTH

997 HIGHWAY 231 SOUTH LACEY'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 Contact: Jeremy Pope, CCIM, SIOR jeremyp@grahamcompany.com

997 HIGHWAY 231

805 MADISON STREET HUNTSVILLE, 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

barts@grahamcompany.com

805 MADISON STREET

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE

21


For Sale or Lease

WILL MCCOMB DRIVE AT MOORESVILLE ROAD MOORESVILLE, 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

Contact: Tyler Fanning tylerf@grahamcompany.com

WILL MCCOMB DRIVE

PHYSICIANS' PLAZA AT CRESTWOOD HUNTSVILLE, AL

reduced to 40%

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 Contact: Tyler Fanning tylerf@grahamcompany.com

PHYSICIANS' PLAZA

12310 HIGHWAY 231 MERIDIANVILLE, AL

AVAILABLE FOR SALE: 4,520 SF • 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

FORMER PNC BANK BRANCH

tylerf@grahamcompany.com

2100 JACKSON AVENUE HUNTSVILLE, 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

barts@grahamcompany.com

Jeremy Pope, CCIM, SIOR jeremyp@grahamcompany.com

PHYSICIANS’ 2100 JACKSON PLAZA AVENUE

ZIERDT ROAD - LAND

565

MADISON, 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 M A RT I N R O A D

Contact: Tyler Fanning

ZIERDT ROAD

22

G R A H A M & C O M PA N Y

tylerf@grahamcompany.com

|

2018 MARKET SURVEY

|

HUNTSVILLE


Graham Huntsville Group

BA RT SMITH,

J E R E MY P O P E ,

CCI M, SI OR

CC IM, S IOR

MA N AG IN G B R O K E R

S E NIOR V IC E P RE S IDE NT

barts@grahamcompany.com

jeremyp@grahamcompany.com 2002

J O IN E D G R A HA M & COMPANY:

JOINE D GRAH AM & COMPANY:

2000

AF F ILIATIO N S/HO NORS:

AF F IL IAT IONS /H ONORS :

• Certified Commercial Investment Member (CCIM) designation

• Certified Commercial Investment Member (CCIM) designation

• Society of Industrial & Office Realtors (SIOR) designation

• Society of Industrial & Office Realtors (SIOR) designation

• Alabama Commercial Real Estate Center (ACRE), Leadership Council

• Member NAIOP – AL Chapter

• Alabama CCIM Chapter, VP of Board of Directors

• Huntsville/Madison County Convention & Visitors Bureau, Board Member

• Huntsville Rotary Club, Strive Mentor

C L IE NTS INC LU DE :

• Salvation Army – Advisory Board • First Methodist Church – Board of Directors C LIE N TS IN C LUDE :

• • • •

Sanmina-SCI • Northrop Grumman • Cisco • COPT Stanley Corporation • Wells Fargo Securities • DirecTV ATK • MITRE • Dynetics • AEGON • Orbital Sciences Booz Allen Hamilton • MetLife • Rockwell Collins

• 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 E R I KA H A R L E SS RE AL E STAT E ASS ISTANT

erikah@grahamcompany.com JOINE D GRAH AM & COMPANY:

T Y LER FANNING

2004

V IC E P R E SIDE N T

tylerf@grahamcompany.com J O IN E D G R A HA M & COMPANY:

2007

AF F ILIATIO N S/HO NORS:

• CCIM Candidate (Certified Commercial Investment Member) • Huntsville Rotaract Club, Member • Huntsville Committee of 100 Young Professionals Initiative, Member • Huntsville High School Wrestling Coach C LIE N TS IN C LUDE :

• MITRE • Prometric • PNC Bank • Aerospace Corporation • Stephen Gould Corporation • Wells Fargo Securities • Southern Research • DRS • LBYD Engineering

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE

23


Corporate Services

A B O U T G R A HA M & CO M PA 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.

A F F I L I AT I O N S NAIOP–Commercial Real Estate Development Association 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

INDIVIDUAL MEMBERSHIPS

INDIVIDUAL MEMBERSHIPS

24

G R A H A M & C O M PA N Y

|

2018 MARKET SURVEY

|

HUNTSVILLE


g ra h a mco mp a ny.com

GRAHAM & COMPANY PERSONNEL - Huntsville, Alabama

CORPORATE Steve Graham MAI, CRE, Chairman Mike Graham, CCIM, SIOR, President

| BIRMINGHAM

OFFICE & INDUSTRIAL Jeremy Pope, CCIM, SIOR Tyler Fanning

| HUNTSVILLE

| JAC KS O N V I L L E

MANAGING BROKER Bart Smith, CCIM, SIOR REAL ESTATE ASSISTANT Erika Harless

| G U L F COAST

1801 Fifth Avenue Suite 300 Birmingham, AL 35223

1500 Perimeter Pkwy Suite 150 Huntsville, AL 35806

9440 Philips Highway Suite 1 Jacksonville, FL 32256

100 Richard Jackson Blvd. Suite 115 Panama City Beach, FL 32407

TEL 205.871.7100

TEL 256.382.9010

TEL 904.281.0003

TEL 850.563.1500

FAX 205.871.3331

FAX 256.382.9011

FAX 904.281.0849

FAX 850.563.1504

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.


1500 Perimeter Parkway, Suite 150 Huntsville, AL 35806 TEL 256.382.9010 grahamcompany.com

BIRMINGHAM

HUNTSVILLE

JACKSONVILLE

GULF COAST

Profile for Huntsville/Madison County Chamber

Graham Report 2018  

Graham Report 2018