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THE OFFERING
Cushman & Wakefield, Inc. (“C&W”), in conjunction with EGS Commercial Real Estate, is pleased to offer to the marketplace an exceptional office campus located at 201 Milan Parkway, Birmingham, Alabama. The Class A office building is a thoughtfully designed 3-story structure, that offers efficient floorplates and is situated on a secure 55-acre campus. The 201 Milan Parkway campus offers exceptional value, is available for immediate occupancy and presents an outstanding acquisition opportunity for either an Owner/User or Value Add Investor. The campus provides an Owner/User immediate occupancy at a desirable cost basis with room for future expansion on the campus. Value Add Investors have the opportunity to reposition the property to a single/multi-tenant investment property that will allow for the ability to transform the campus to a variety of uses including a health/life science use.
This desirable Class A Office campus is offered to the market with an asking price of $22,200,000 ($75.00/sf).
| ACQUISITION HIGHLIGHTS |
• Premier high-quality Class A office campus ideal for an Owner/User
• Exceptional value with the opportunity to acquire the property at a substantial discount to replacement cost
• Ideal Headquarters / Operations Center that offers immediate occupancy of ±296,438 SF on ±55 acres
• Opportunity to monetize the ±20 acres of undeveloped land via development and/or disposition |
PROPERTY Summary
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Owner / Seller:
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Regions Bank |
Property Address:
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201 Milan Parkway, Birmingham, AL |
Building:
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Class A Office building situated on a secure ±55-acre campus |
Buildings / Stories:
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One / Three Stories |
| Total Square Footage: |
±296,438 square feet |
Square Footage Breakdown:
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• 1st floor: ±102,789 square feet
• 2nd floor: ±106,290 square feet
• 3rd floor: ±87,359 square feet |
Year Built:
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2002, renovations in 2009 & 2010 |
| Current Design Capacity: |
1,500 seats (approximately) |
Interior Improvements:
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• Open work environment
• Kitchen/café with adjacent seating/meeting areas
• Executive wing with private offices & support space |
| Roof: |
Single-ply PVC membrane system (6 yrs old), 14 years remaining on warranty |
| Electrical / Redundancy: |
• Dual electrical feeds from Alabama Power
• Two main electrical switchboards rated at 480-volts & 4,000 amps each
• Two 1,000 kw Generator Sets |
| Elevators: |
Four Hydraulic passenger elevators & 1 hydraulic service elevator |
| SITE INFORMATION |
| Total Land Area: |
±55.26 acres, inclusive of ±20.00 acres which are undeveloped |
| Zoning: |
MXD (Mixed Use Development), city of Birmingham |
| Total Parking Spaces / Ratio: |
±1,387 spaces on adjacent surface lots / ±4.7 spaces per 1,000 sf |
| Utility Providers: |
• Alabama Power (electricity)
• Birmingham Water Works (domestic water)
• Spire, Inc. (natural gas)
• Jefferson County (sanitary/storm sewer) |
ALABAMA REGION HIGHLIGHTS
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Corporate Capital Markets
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MARKET EXPERTISE
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Richard A. Ingwers
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R. William Pradat, Jr. SIOR
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Bradford F. Rogers
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The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield's client and the property offered by Cushman & Wakefield, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted by Cushman & Wakefield or its client. This listing shall not be deemed an offer to lease, sublease or sell such property and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of Cushman & Wakefield's agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) The information contained in this communication is confidential, may be privileged and is intended for the exclusive use of the above-named addressee(s). If you are not the intended recipient(s), you are expressly prohibited from copying, distributing, disseminating or in any other way using any information contained within this communication. If you have received this communication in error, please contact the sender by telephone or by response via email. We have taken precautions to minimize the risk of transmitting software viruses, but we advise you to carry out your own virus checks on any attachment to this message. We cannot accept liability for any loss or damage caused by software viruses.
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