MOBILE MARKET WATCH
Mitchell College of Business
Center for Real Estate Studies
Industrial Properties:
Baldwin and Mobile
For Lease and For Sale
“Data you can use.”
“Education you can use.”
Mitchell College of Business Center for Real Estate Studies
Spring, 2007
USA takes reasonable measures to ensure the quality of the data and other information
produced. However, USA makes no warranty, express or implied, nor assumes any legal
liability or responsibility for the accuracy, correctness, or completeness of any
information, nor represents that its use would not infringe on privately owned rights.
Reference to any specific commercial product, process, or service does not constitute an
endorsement, recommendation, or favoring by USA.
Page 1 of 36
INDUSTRIAL PROPERTIES: BALDWIN AND MOBILE
For Lease and For Sale
Table of Contents
Introduction
Interesting Facts
Table 1.
1990-2006 Baldwin Employment
1990-2006 Mobile Employment
List of Zipcodes
Table 2.
2006 Spring/Summer Asking Lease Rate per S.F. by Zipcode
Table 3.
2006 Spring/Summer Calculated Vacancy Rate by Zipcode
Selective statistics
Table 4.
2006 Spring/Summer Total Market of Industrial Properties Advertised
for Lease
Table 5.
2006 Spring/Summer Asking Lease Rate per S.F. by Zipcode
(Lots only)
Table 6.
2006 Spring/Summer Calculated Vacancy Rate by Zipcode
Selective statistics (Lots only)
Table 7.
2006 Spring/Summer Total Market of Industrial Properties Advertised
for Lease (Lots only)
Table 8.
2006 Spring/Summer Advertised Sales Price per S.F. by Zipcode
Table 9.
2006 Spring/Summer Calculated Sales Price per S.F. by Zipcode
Table 10.
2006 Spring/Summer Masterfile of Industrial Properties Advertised for
Sale
Table 11.
2006 Spring/Summer Advertised Sales Price per S.F. by Zipcode
(Lots only)
Table 12.
2006 Spring/Summer Calculated Sales Price per S.F. by Zipcode
(Lots only)
Table 13.
2006 Spring/Summer Masterfile of Industrial Properties Advertised for
Sale (Lots only)
USA takes reasonable measures to ensure the quality of the data and other information produced.
However, USA makes no warranty, express or implied, nor assumes any legal liability or
responsibility for the accuracy, correctness, or completeness of any information, nor represents that
its use would not infringe on privately owned rights. Reference to any specific commercial product,
process, or service does not constitute an endorsement, recommendation, or favoring by USA.
Page 2 of 36
Introduction
This represents the second report on commercial properties by the Center
for Real Estate Studies. Entitled “Industrial Properties: Baldwin and
Mobile,” it includes interesting statistics for the Spring and Summer, 2006.
Readers should remember that the data covers advertised “for lease” and
“for sale” data only. Final sale information is excluded.
Special thanks goes to the Commercial Property Directory, Birmingham, for
providing useful data. Other sources include the CCIMnet, Loopnet,
Alabama Power, Economic Development Partnership Alliance, and the
Center for Real Estate Studies.
Look for the additional commercial property reports.
For additional information, contact Don Epley, Director, Center for Real
Estate Studies, 251.460.6735 or depley@usouthal.edu.
Page 3 of 36
Interesting Facts
2006 Advertised Industrial For Lease (Buildings + Lots):
total properties included
53
asking lease rate per s.f.
median $4.38 on 43 buildings reporting
building s.f.
median 14,000 on 35 buildings reporting
total building s.f.
1,061,932 on 35 buildings reporting
total available s.f.
998,156 on 48 buildings reporting
available s.f.
median 10,200 on 48 buildings reporting
2006 Advertised Industrial For Lease (Lots only):
total properties included
2
asking lease rate per s.f.
median $11.25 on 2 sites reporting
total available s.f.
69,135 on 2 sites reporting
available s.f.
median 34,568 on 2 sites reporting
2006 Advertised Industrial For Sale (Buildings + Lots):
total properties included
53
sale price
median $637,500 on 50 buildings reporting
building s.f.
median 17,208 on 29 buildings reporting
sales price per bldg. s.f.
median $42.10 on 26 buildings reporting
site s.f.
median 213,444 on 35 sites reporting
sales price per site s.f.
median $4.17 on 32 sites reporting
2006 Advertised Industrial For Sale (Lots only):
total properties included
7
sale price
median $51,800 on 7 parcels reporting
site s.f.
median 21,230 on 7 sites reporting
sales price per site s.f.
median $2.39 on 7 sites reporting
Note: This data covers only properties advertised for lease and for sale as an indication of
current market activity. They do not represent the total inventory. For example, the
“building s.f.” represents only buildings that are advertised with available space. Owneroccupied property is excluded, also.
Page 4 of 36
MARKET WATCH
Table 1.
1990-2006 Baldwin Employment by Quarter
Nonag
Year
1990
1995
2000
2005
2006
Quarter
1
1
1
1
2
3
4
1
2
3
4
113,882
134,736
148,472
166,341
176,488
178,094
174,718
175,217
185,005
187,140
184,279
Nat'l Res
Mining, Const
7,741
10,381
11,723
14,469
15,722
16,126
17,050
17,020
18,175
18,520
18,425
Mfg
18,001
17,537
17,567
16,411
16,231
15,694
15,634
15,959
15,846
15,365
15,506
Trad, Tran
Ware, Util
27,025
30,558
33,166
38,870
40,785
41,063
40,782
40,721
41,485
42,979
43,263
Info
FiAct
ProBA
EdHS
1,275
1,464
1,842
1,599
1,704
1,822
1,759
1,844
1,895
1,962
1,921
5,793
7,124
8,051
9,921
10,767
11,198
10,974
10,779
11,547
11,742
11,570
12,573
13,474
13,915
12,951
13,614
14,858
15,358
14,585
15,708
15,726
17,114
19,676
19,496
19,749
20,015
20,169
FiAct
ProBA
EdHS
Leisure
Hospitality
22,493
27,007
27,497
23,924
23,469
28,097
27,935
24,674
Other
Services
8,029
8,398
8,468
8,209
8,151
8,561
8,854
8,604
Gov
19,519
23,081
24,469
26,268
26,674
25,197
23,759
24,164
24,792
24,410
25,562
1990-2006 Mobile Employment by Quarter
Nonag
Year
Quarter
1990
1
1995
1
2000
1
2005
1
2
3
4
2006
1
2
3
4
401.1
474.5
528.5
516.8
527.1
524.2
538.8
534.7
538.4
537.5
547.1
Nat'l Res
Mining,Const
27.4
36.8
41.6
40.2
41.9
42.6
45.7
45.2
43.8
43.5
44.7
Mfg
59.5
58.0
57.8
43.0
43.5
43.6
42.7
43.7
44.6
46.4
46.4
Trad,Tran
Ware, Util
98.0
110.7
121.1
114.1
115.7
116.1
119.1
117.4
118.8
120.4
122.8
Info
6.9
7.8
9.9
7.5
7.7
7.8
7.8
8.1
8.1
8.1
8.1
18.7
22.8
25.8
28.0
28.2
28.8
33.6
29.1
29.0
29.1
29.5
34.5
47.6
62.7
65.2
67.9
67.4
66.7
67.0
66.8
66.3
66.2
40.9
51.9
57.2
62.8
65.0
64.9
65.8
65.7
68.0
67.6
68.7
Leisure
Other
Hospitality Services
26.7
21.9
34.6
26.6
39.3
31.0
44.4
28.4
45.5
28.0
44.5
27.2
46.1
27.9
46.8
28.1
48.0
28.2
47.0
28.2
46.9
29.3
Gov
66.6
77.7
82.1
83.2
83.7
81.3
83.4
83.6
83.1
80.9
84.5
Page 5 of 36
Mobile County
Zip Code
36505
36509
36512
36521
36522
36523
36525
36528
36541
36544
36560
36568
36571
36572
36575
36582
36587
36590
36601
36602
36603
36604
36605
36606
36607
36608
36609
36610
36611
36612
36613
36615
36616
36617
36618
36619
36621
36622
36625
36628
36630
36633
36640
36641
36644
36652
36660
36663
City
Axis
Bayou La Batre
Bucks
Chunchula
Citronelle
Coden
Creola
Dauphin Island
Grand Bay
Irvington
Mount Vernon
Saint Elmo
Saraland
Satsuma
Semmes
Theodore
Wilmer
Theodore
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Eight Mile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
State
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
Area Code
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
Page 6 of 36
36670
36671
36675
36685
36688
36689
36690
36691
36693
36695
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
Mobile
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
251
251
251
251
251
251
251
251
251
251
58 in total
Source: www.getzips.com
Page 7 of 36
City of Mobile
ZIP CODES
36571
36572
43
36613
36611
36575
36612
36610
36618
36617
36603
36607
36608
36602
36606
36604
36603
36609
36695
36615
36693
36605
36619
ZIP CODE BOUNDARY
MOBILE CITY LIMITS
98
36582
0
1
2
Miles
City of Mobile GIS / April, 2004
Page 8 of 36
Baldwin County
Zip Code
36507
36511
36526
36527
36530
36532
36533
36535
36536
36542
36547
36549
36550
36551
36555
36559
36561
36562
36564
36567
36574
36576
36577
36578
36579
36580
26 in total
City
Bay Minette
Bon Secour
Daphne
Spanish Fort
Elberta
Fairhope
Fairhope
Foley
Foley
Gulf Shores
Gulf Shores
Lillian
Little River
Loxley
Magnolia Springs
Montrose
Orange Beach
Perdido
Point Clear
Robertsdale
Seminole
Silverhill
Spanish Fort
Stapleton
Stockton
Summerdale
State
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
AL
Area Code
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
251
Source: www.getzips.com
Page 9 of 36
Table 2.
MARKET WATCH
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Lease
Asking Lease Rate per S.F. by Zipcode
property
number
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
zipcode
number
30507
36507
36526
36526
36532
36535
36535
36542
36546
36551
36551
36560
36567
36571
36575
36580
36582
36582
36582
36582
36582
36582
36582
36601
36602
36602
36603
36606
36606
36606
36607
36607
36607
36607
36607
36608
36609
36609
36609
36610
36615
36615
36617
36617
36617
36618
36618
36619
36693
36693
36693
36695
median
properties reporting
ask lease s.f.
dollars
2.70
5.50
1.50
8.50
total advertised s.f.
number
98,817
18,000
12,500
1,250
3,600
94,049
6.50
9,400
6.50
8.66
64,500
3.96
2.50
4.32
200,000
4.25
3.50
8.40
5.00
6.00
3.01
6.00
2.40
9.00
3.50
3.45
10.00
5.28
4.00
20,800
36,000
5,000
18,100
9,960
18100
7,500
25,000
12,000
11,800
44,606
9,100
15,000
2,850
50,000
5.68
3.00
86,000
6.72
8.50
6.50
6.00
2.00
1.75
3.50
4.00
2.25
4.00
10,000
80,000
12,800
27,000
10,000
5.93
3.22
6.00
4.38
5.40
11.00
2.50
4.38
43
20,900
6,000
4,800
2,500
14,000
14,000
35
Note: An average has been entered for lease rates reported as a range.
Page 10 of 36
MARKET WATCH
Table 3.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Lease
Calculated Vacancy Rate by Zipcode
property
number
1
zipcode total advertised s.f. advertised avail s.f.
number
number
number
30507
98,817
54,000
calculated vacancy rate
%
54.65
2
36507
18,000
18,000
100.00
3
4
36526
36526
12,500
1,250
2,400
1,250
19.20
100.00
5
36532
3,600
3,600
100.00
6
7
36535
36535
94,049
12,000
94,049
100.00
8
36542
9
36546
10
11
36551
36551
12
36560
13
36567
14
36571
15
36575
16
36580
17
18
19
20
21
22
23
36582
36582
36582
36582
36582
36582
36582
24
25
26
15,000
9,400
9,400
100.00
7,500
5,545
64,500
64,500
100.00
10,000
200,000
5,000
5,600
20,800
36,000
5,000
18,100
9,960
18100
10,400
78,000
5,000
18,000
18,100
9,960
18100
100.00
100.00
100.00
36601
7,500
7,500
100.00
36602
36602
25,000
12,000
5,000
12,000
20.00
100.00
27
36603
11,800
11,800
100.00
28
29
30
36606
36606
36606
44,606
9,100
8,712
9,100
6,500
19.53
100.00
31
32
33
34
35
36607
36607
36607
36607
36607
15,000
2,850
50,000
2,850
50,000
14,310
86,000
100.00
100.00
36
36608
37
38
39
36609
36609
36609
40
36610
41
42
36615
36615
80,000
12,800
43
44
45
36617
36617
36617
27,000
46
47
36618
36618
10,000
10,000
18,600
100.00
48
36619
20,900
20,900
100.00
86,000
50.00
216.67
100.00
100.00
2,680
10,000
1,200
20,000
35,000
12.00
87,500
12,800
100.00
50,000
10,000
Page 11 of 36
49
50
51
36693
36693
36693
6,000
4,800
2,500
52
36695
14,000
6,000
1,800
2,500
53
total
median
properties reporting
100.00
37.50
100.00
40,000
1,061,932
14,000
35
998,156
10,200
48
Note: An average has been entered for lease rates reported as a range.
Page 12 of 36
Table 4.
source
1
1
3
1
1
1
3
5
5
1
1
1
1
1
1
3
1
1
1
3
5
3
1
3
3
1
1
1
1
id number
number
28
27
48
13
15
17
49
62
63
4
1
3
2
8
10
54
5
7
11
52
64
53
21
50
51
6
14
16
9
date period
months
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
date year zipcode
bldg name
number
name
year
2006
36560 Mitternight
2006
36571 Merchants Transfer
2006
36575
2006
36582 3131 Hamilton Blvd
2006
36582 Distribution Warehouse
2006
36582
2006
36582
2006
36582 6265 Rangeline Road Building
2006
36582 Seemans Fiberglass
2006
36601
2006
36602 201 St. Joseph Street
2006
36602 City Wholesale
2006
36603 211 Maryland Street
2006
36606 Dauphin Center
2006
36606
2006
36606 The Loop Shopping Center
2006
36607 3000 Mill Street
2006
36607 Corporate Drive North
2006
36607
2006
36607
2006
36607 Teaque Building
2006
36608 Zeigler Cir E
2006
36609 Loop West Building
2006
36609 Halls Mill Square
2006
36609
2006
36610 Braco Industrial Park
2006
36615 AMPAC
2006
36615 Kentwood - Brookely
2006
36617 Former Flint, Ink Building
location
address
19380 Old Military Road
150 Jacintoport Blvd
7770 Tara Drive
3131-B Hamilton Boulevard
5235 Kooiman Rd
5520 Business Pkwy
5445 Business Parkway
6265 Rangeline Road
5880 Middle Rd
3006 Mill Street
201 St. Joseph Street
811 St. Francis Street
211 Maryland Street
2866 Dauphin Street
763 Lakeside Drive
1967 Government St.
3000 Mill Street
1125 Corporate Drive North
3200 Crichton St
3002 Mill Street
519 Bay Shore Ave
103 Zeigler Cir E
750 Downtowner Loop West
Halls Mill Square
4128 Government Blvd.
Highway 45, 2 blks off I-65
2050 6th Street
1910 Avenue C
2200 East Industrial Street
yr blt
year
yr reno
year
1997
1986
no. floors
number
prking
total s.f.
number number
free
64,500
free 200,000
2
1987
2001
1999
1997
1973
1997
1939
2001
1
1
1
free
free
free
1985
free
20,800
36,000
5,000
18,100
9,960
7,500
25,000
12,000
11,800
44,606
9,100
15,000
2,850
50,000
1964
86,000
1983
1990
2006
1970
1
1999
free
10,000
1
1
80,000
12,800
27,000
Page 13 of 36
lease s.f.
dollars
2.50
4.32
4.25
3.50
8.40
5.00
6.00
3.01
2.40
9.00
3.50
3.45
10.00
5.28
4.00
5.68
3.00
6.72
8.50
6.50
6.00
2.00
1.75
3.50
4.00
avail s.f. smal contigous lgst contigous
number
number
number
64,500
200,000
200,000
5,000
10,400
5,200
10,400
78,000
36,000
78,000
5,000
18,000
18,100
9,960
7,500
7,500
7,500
5,000
2,000
5,000
12,000
12,000
12,000
11,800
11,800
11,800
8,712
700
3,500
9,100
9,100
9,100
6,500
1,500
1,750
2,850
50,000
14,310
86,000
2,680
1,200
20,000
35,000
87,500
12,800
2,850
50,000
750
5,000
10,000
12,800
company
name
Cummings & Associates, Inc.
Cummings & Associates, Inc.
Prudential Cooper & Co., Inc.
Metcalfe & Company, Inc.
NAI Heggeman Realty Co., Inc
Prudential Cooper & Co., Inc. Commercial Division
Prudential Cooper & Co., Inc.
agent
name
Burton Clark
Burton Clark
Angela McArthur
Adam Metcalfe
Mitchum Jackson
Tony Cooper, CCIM
Tony Cooper
email
address
burton@cummingsassoc.com
burton@cummingsassoc.com
Prudential Cooper & Co., Inc. Commercial Division
NAI Heggeman Realty Co., Inc
Metcalfe & Company, Inc.
Metcalfe & Company, Inc.
John Toomey & Company , Inc.
NAI Heggeman Realty Co., Inc
Property Management Group
NAI Heggeman Realty Co., Inc
2,850 Betbeze Realty Co., Inc.
50,000 Prudential Cooper & Co., Inc. Commercial Division
Coldwell Banker Commercial, JME Realty
J. Turner, III
Bernie Heggeman
Adam Metcalfe
Adam Metcalfe
John Toomey
Mitchum Jackson
Jeff Laufer
Bernie Heggeman
Joey Betbeze
J. Turner, III
Chip Brown
jturner@prucooper.com
bheggeman@heggeman.com
adam@metcalfeco.com
adam@metcalfeco.com
johntoomey@jihntoomeycompany.com
mjackson@heggeman.com
Prudential Cooper & Co., Inc.
1,500 Stein Investments, Inc.
20,000 Praytor Properties LLC
Praytor Properties LLC
Delany Development
NAI Heggeman Realty Co., Inc
12,800 NAI Heggeman Realty Co., Inc
Saad / Vallas Realty Group, LLC
Angela McArthur
David Stein
Tommy Praytor, CCIM
Tommy Praytor, CCIM
Terry McKinney
Bernie Heggeman
Mitchum Jackson
John Vallas, Jr.
adam@metcalfeco.com
mjackson@heggeman.com
tonycooper@prucooper.com
bheggeman@heggeman.com
JoeyBetbeze@BetbezeRealty.com
jturner@prucooper.com
Steininv.@aol.com
terrym@delanyinc.net
bheggeman@heggeman.com
mjackson@heggeman.com
jvallas@saad.com
Page 14 of 36
1
3
1
3
1
1
1
1
1
1
12
47
22
55
23
18
19
20
26
46
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
36617
36617
36618
36618
36619
36693
36693
36693
36695
Paper Products
3400 Georgia Pacific
Overlook Shopping Center
1516 Azalea
901 Butler Drive Suit C
901 Butler Drive Suit F
West Side Office Park
Waller Brothers
3440 Armour Blvd.
3400 Georgia Pacific
6065 Rangline Rd
5304 Overlook Rd. at Moffat Road
5561 Todd Acres Dr.
1516 Azalea Road
901 Butler Drive
901 Butler Drive
7856 Westside Park Drive
McRea Ave. and Highway 90 West
1980
1
10,000
1
free
2002
free
free
20,900
6,000
4,800
2,500
14,000
Page 15 of 36
2.25
4.00
5.93
3.22
6.00
4.38
5.40
11.00
2.50
50,000
10,000
10,000
18,600
20,900
6,000
1,800
2,500
40,000
50,000
10,000
2,100
6,000
4,800
2,500
300
50,000 NAI Heggeman Realty Co., Inc
Grubb & Ellis
10,000 Prudential Cooper & Co., Inc. Commercial Division
16,500 Property Management Group
Prudential Cooper & Co., Inc. Commercial Division
6,000 Metcalfe & Company, Inc.
4,800 Betbeze Realty Co., Inc.
2,500 Betbeze Realty Co., Inc.
14,000 Roberts Brothers, Inc.
Gleason and Associates, Inc.
Bernie Heggeman
Scott Wells, CCIM, CPM
Angela McArthur
Jeff Laufer
Jimmie Few
Adam Metcalfe
Joey Betbeze
Joey Betbeze
Shelia Shoub
Tommy Gleason Jr.
bheggeman@heggeman.com
aminala@concentric.net
jimmiefew@prucooper.com
adam@metcalfeco.com
JoeyBetbeze@BetbezeRealty.com
JoeyBetbeze@BetbezeRealty.com
sheliashoub@robertsbrothers.com
Tommygleasonjr@gleasonassociates.com
Page 16 of 36
Baldwin only
source
5
5
1
1
1
3
5
3
5
3
3
3
2
4
id number
date period
number
months
63
62
29 sp/su
31 sp/su
30 sp/su
57
65
58
64
59
60
56
61
66
date year zipcode
bldg name
number
name
year
2006
30507 Gulf Packaging Building
2006
36507 Jima Building
2006
36526 Colonial Plaza Business Park
2006
36526 High Point
2006
36532 Cunningham Building
2006
36535
2006
36535 Peavey Electronics Building
2006
36542 9281 Hard Dr
2006
36546 Select Aircraft Paint Building
2006
36551
2006
36551 Loxley Warehouse
2006
36567 Cedar Street
2006
36580 Madison Park
2006
36582 Rangeline Road
location
address
111 S. Hoyle Street
501 Pearson Drive
1410 Highway 98
Park Dr.
20730 Highway 27
123 Hwy 59
410 East Section Pine
9281 Hard Dr
700 Commercial Drive
Co. Hwy 49 and Loxley Park
25778 Highway 59
22195 Cedar Street
629 Wynn Road
6265 Rangeline Road
yr blt
year
1953
1970
1997
1970
1980
1981
2005
1997
2006
1960
1997
yr reno
year
no. floors
number
prking
number
total s.f.
number
98,817
18,000
free
12,500
free
1,250
free
3,600
94,049
9,400
18100
Note: An average has been entered for lease rates reported as a range.
Page 17 of 36
lease s.f. avail s.f. smal contigous lgst contigous
dollars
number
number
number
2.70
54,000
18,000
5.50
2,400
1,250
1,250
2,500
1.50
3,600
1,200
1,700
8.50
12,000
5000
7000
94,049
6.50
15,000
9,400
6.50
7,500
3,750
7,500
8.66
5,545
3.96
10,000
5,600
2,800
5,600
6.00
18100
company
name
agent
name
Fleetwood T. Lane Properties
Irvine Co, Inc
Coldwell Banker Commercial Suncoast
Cunningham, Foley & Barnes
Fleetwood Lane
Stake Irvine
Cathy Taylor
Joe Everson
Southland Capital Realty
Todd Drummond
Gleason Associates
Praytor Properties LLC
White-Spunner and Associates, Inc.
Landel Realty, LLC
Tommy Gleason
Tommy Praytor, CCIM
Pat Taylor
William W. Hyatt, CCIM
email
address
ftlane@bellsouth.net
sirvine@aol.com
cathy-taylor@msn.com
Page 18 of 36
MARKET WATCH
Table 5.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Lease
Asking Lease Rate per S.F. by Zipcode (Lots only)
property
number
36
37
median
properties reporting
zipcode
number
36608
36608
asking lease s.f.
total advertised s.f.
dollars
number
9.50
19,000
13.00
50,135
11.25
2
34,568
2
Note: An average has been entered for lease rates reported as a range.
Page 19 of 36
MARKET WATCH
Table 6.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Lease
Calculated Vacancy Rate by Zipcode (Parcels only)
property
number
36
37
zipcode
total advertised s.f. advertised avail s.f.
number
number
number
36608
19,000
19,000
36608
50,135
50,135
total
median
properties reporting
69,135
34,568
2
calculated vacancy rate
%
100.00
100.00
69,135
34,568
2
Note: An average has been entered for lease rates reported as a range.
Page 20 of 36
Table 7.
MARKET WATCH
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Total Market of Industrial Properties Advertised for Lease (Parcels only)
Mobile only
source
id number date period date year zipcode
bldg name
location
number
months
year
number
name
address
1
24 sp/su
2006
36608 QMS - Parcel A 1 Magnum Pass
1
25 sp/su
2006
36608 QMS - Parcel B 1 Magnum Pass
total s.f. lease s.f. avail s.f.
number
dollars
number
19,000
9.50
19,000
50,135
13.00
50,135
Note: An average has been entered for lease rates reported as a range.
Page 21 of 36
company
name
Cummings & Associates, Inc.
Cummings & Associates, Inc.
agent
email
name
address
Burton Clark burton@cummingsassoc.com
Burton Clark burton@cummingsassoc.com
Page 22 of 36
MARKET WATCH
Table 8.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Sale
Advertised Sales Price per S.F. by Zipcode
property
zipcode
number
number
30507
36507
36507
36507
36507
36522
36522
36525
36526
36527
36535
36535
36535
36535
36551
36551
36551
36560
36567
36571
36580
36580
36582
36582
36582
36582
36582
36582
36582
36582
36606
36606
36606
36606
36606
36607
36607
36608
36608
36610
36610
36610
36612
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
advertised sales price
dollars
3,140,000
2,645,500
699,900
699,900
375,000
365,000
5,000,000
345,500
89,900
2,100,000
325,000
4,500,000
780,000
750,000
871,200
3,000,000
422,000
9,900,000
535,000
395,000
850,000
1,250,000
900,000
135,000
1,096,000
499,000
4,500,000
250,000
94,000
82,500
825,000
495,000
550,000
515,000
195,000
650,000
500,000
550,000
5,500,000
1,100,000
advertised bldg. s.f.
number
16,625
16,625
18,000
17,208
1,850
78,750
83,900
94,049
5,545
14,626
297,197
7,200
5,600
18,000
26,000
5,000
7,500
107,520
9,960
9,060
9,470
14,310
86,000
25,200
50,000
38,897
Page 23 of 36
44
45
46
47
48
49
50
51
52
53
36612
36615
36617
36618
36619
36619
36619
36693
36695
median
properties reporting
209,000
625,000
200,000
879,000
125,000
522,500
2,100,000
1,001,880
400,000
1,100,000
$
637,500
50
23,400
20,900
17,000
$
17,208
29
Note: An average has been entered for lease rates reported as a range.
Page 24 of 36
MARKET WATCH
Table 9.
2006 Spring/Summer Industrial Properties
Baldwin and Mobile
Advertised for Sale
Calculated Sales Price per S.F. by Zipcode
property
zipcode
sales price
site s.f.
bldg. s.f.
number
1
2
3
4
5
number
36507
36507
36507
36507
36507
dollars
3,140,000
2,645,500
699,900
699,900
number
304,920
17,728,920
number
6
7
36522
36522
375,000
365,000
148,104
317,988
8
36525
5,000,000
10,890,000
130,680
calculated sales price
per bldg s.f.
dollars
calculated sales price
per site s.f.
dollars
10.30
0.15
.
.
16,625
16,625
18,000 .
42.10 .
42.10 .
.
17,208
21.79
.
2.53
1.15
.
0.46
1,850
9
36526
345,500
10
36527
89,900
21,780
186.76 .
11
12
13
14
36535
36535
36535
36535
2,100,000
325,000
4,500,000
827,640
609,840
219,542
479,160
78,750
26.67
.
83,900
94,049 .
53.64
15
16
17
36551
36551
36551
780,000
750,000
871,200
176,200
87,120
5,545
18
36560
3,000,000
.
4.13
2.54
0.53
20.50
.
.
.
135.26
4.26
10.00
.
.
.
19
36567
422,000
87,120
14,626
28.85
4.84
20
36571
9,900,000
432,115
297,197
33.31
22.91
21
22
36580
36580
535,000
395,000
23,958
21,780
7,200
5,600
74.31
70.54
22.33
18.14
23
24
25
26
27
28
29
30
36582
36582
36582
36582
36582
36582
36582
36582
850,000
1,250,000
900,000
135,000
1,096,000
499,000
4,500,000
250,000
57,935
479,160
213,444
169,884
226,512
18,000
47.22
14.67
2.61
4.22
0.79
4.84
31
32
33
34
35
36606
36606
36606
36606
36606
94,000
82,500
825,000
495,000
550,000
36
37
36607
36607
515,000
38
39
36608
36608
195,000
650,000
40
41
42
36610
36610
36610
500,000
550,000
5,500,000
327,136
43
44
36612
36612
1,100,000
209,000
827,640
60,984
45
36615
625,000
46
36617
200,000
2,090,880
87,120
.
26,000
34.62
.
5,000
7,500
107,520
9,960
219.20
66.53 .
41.85
25.10
.
.
.
.
.
.
22,220
35,600
9,060
9,470
54.64
58.08
19,615
130,680
14,310
86,000 .
35.99
191,664
25,200
50,000
38,897
26.26
.
25.79
3.39
.
11.00 .
141.40
16.81
.
.
23,400
22.28
15.45
.
.
.
.
0.25
26.71
.
2.15
2.87
10.25
.
Page 25 of 36
47
36618
879,000
48
49
50
36619
36619
36619
125,000
522,500
2,100,000
51
36693
1,001,880
400,752
.
52
36695
400,000
1,393,920
.
1,100,000
435,600
17,000 .
53
median
properties reporting
median sales price
per bldg. s.f.
median sales price
per site s.f.
$
637,500
50
.
.
.
213,444
35
.
.
.
.
25.00 .
.
20,900
.
2.50
0.29
64.71 .
17,208
29
2.53
26
$
32
42.10
$
4.17
Note: An average has been entered for lease rates reported as a range.
Page 26 of 36
MARKET WATCH
Table 10.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Masterfile of Industrial Properties Advertised for Sale
Mobile only
source
3
3
3
1
3
id number
number
37
39
42
20
32
date period
months
October
October
October
sp/su
September
3
3
3
3
3
29
30
40
41
46
October
September
October
October
October
2006
2006
2006
2006
2006
36582
36582 7430 Theodore Dawes Rd
36582 7535 Theodore Dawes Road
36582
36582
5445 Business ParkWay
7430 Theodore Dawes Rd
7535 Theodore Dawes Road
Rangeline Rd. & Hamilton Blvd.
8601 Old Pascagoula Road
2
4
4
1
1
1
3
3
3
4
1
3
1
47
58
59
2
3
4
34
36
33
60
15
45
5
October
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
36582
36582
36582
36606
36606
36606
36606
36606
36607
36607
36608
36608
36610
5520 Business Pkwy, 1&2
Hamilton Rd
5880 Middle Road
2866 Brossett Street
950 Yeager Court
952 Yeager Court
63 Midtown Park East
617 Houston Street
3002 Mill St.
519 Bay Shore Ave
7778 McKinley Avenue
6500 Zeigler Blvd
Highway 45, 2 blks off I-65
sp/su
sp/su
sp/su
November
October
October
sp/su
October
sp/su
date year zipcode
bldg name
number
name
year
2006
36522 1575 Joy Street
2006
36522 Citronelle Commercial Property
2006
36525
2006
36560 Mitternight
2006
36571 UOP, LLC; A Honeywell Company
Norden Paper
Seemann's Fiberglass
2866 Brossett Street
950 Yeager Court
952 Yeager Court
63 Midtown Park East
Sign and Fabrication Co
Teaque Building
7778 McKinley Avenue
Zeigler Square
Braco Industrial Park
location
address
1575 Joy Street
I 65 & Exit 22 Sailor Rd.
19380 Old Military Road
207 Jacintoport Blvd.
space avail
number
64,500.00
107,520.00
9,960.00
86,000.00
10,600.00
87,500.00
sales price
dollars
375,000.00
365,000.00
5,000,000.00
3,000,000.00
9,900,000.00
site s.f.
number
148,104.00
317,988.00
10,890,000.00
850,000.00
1,250,000.00
900,000.00
135,000.00
1,096,000.00
57,934.80
479,160.00
213,444.00
169,884.00
226,512.00
499,000.00
4,500,000.00
250,000.00
94,000.00
82,500.00
825,000.00
495,000.00
550,000.00
515,000.00
195,000.00
650,000.00
500,000.00
432,115.20
2,090,880.00
87,120.00
22,220.00
35,600.00
19,615.00
130,680.00
191,664.00
Page 27 of 36
bldg. s.f.
number
company
name
17,208.00 NAI Heggeman Realty Co., Inc.
ReMax By the Bay
Gleason & Associates
Cummings & Associates, Inc.
297,197.00 Ward Properties, Inc.
18,000.00 thereof:
Warehouse: 16,000.00
Office: 2,228.00
Floored mezzanine: 1,574.00 Prudential Cooper & Co., Inc. Realtors
Prudential Cooper & Co., Inc. Realtors
26,000.00 Saad & Vallas Realty Group, LLC
Gleason & Associates
5,000.00 Coldwell Banker Commercial, JME Realty
7,500.00
(Building 1: 5,000.00
Building 2: 2,500.00) Prudential Cooper & Co., Inc. Realtors
107,520.00
9,960.00
Saad & Vallas Realty Group, LLC
Saad & Vallas Realty Group, LLC
Saad & Vallas Realty Group, LLC
9,060.00 Betbeze Realty Co., Inc.
9,470.00 Coldwell Banker Commercial, JME Realty
14,310.00 Coldwell Banker Commercial, JME Realty
86,000.00
Angela Blim, Inc.
GLA 25,200 Praytor Properties LLC
Delaney Development
agent
name
Mitchum Jackson
Barbara Reeves
Tommy Gleason
Burton Clark
Bestor Ward
email
address
burton@cummingsassoc.com
Tony Cooper
Patty Brubaker
Gregory B. Saad
Tommy Gleason
Don Parden
Anthony A. Cooper, CCIM
Mike Austin
Mike Austin
Mike Austin
Joey Betbeze
Don Parden
Chip Brown
maustin@saad.com
maustin@saad.com
maustin@saad.com
Angela Blum
Tommy Praytor, CCIM
Terry McKinney
angelab4@bellsouth.net
terrym@delaneyinc.net
Page 28 of 36
1
3
1
3
6
31
28
38
sp/su
October
sp/su
October
2006
2006
2006
2006
36610
36610
36612
36612
Hand Avenue
FedEx Ground
Former UOP Warehouse
Stallworth Property
3000 Hand Avenue
1814 Berkley Avenue
Main Street
3220 W. Main Street
3
1
1
1
1
1
1
3
4
44
1
17
14
18
19
16
43
57
October
sp/su
sp/su
sp/su
sp/su
sp/su
sp/su
October
September
2006
2006
2006
2006
2006
2006
2006
2006
2006
36615
36617
36618
36619
36619
36619
36693
36695
Brookley Warehouse
2200 East Industrial Street
Former Car Dealership
1944 South Broad Street
2200 East Industrial Street
I-65 & North Beltline Highway
4900 Hamilton Blvd.
5561 Todd Acres Dr
Rangeline Rd
3650 Government St
111 Ridgetop Dr.
6501 Moffett Road
Ridgetop Dr. off Cottage Hill Rd.
Barbers's Diary
50,000.00
195,000.00
6,784.00
27,000
4.00
20,900
9.00
17,000.00
550,000.00
5,500,000.00
1,100,000.00
209,000.00
625,000.00
200,000.00
879,000.00
125,000.00
522,500.00
2,100,000.00
1,001,880.00
400,000.00
1,100,000.00
327,135.60
827,640.00
60,984.00
400,752.00
1,393,920.00
435,600.00
Page 29 of 36
50,000
(of which 2,900 s.f. Office space) Cummings & Associates, Inc.
38,897.00 Saad & Vallas Realty Group, LLC
NAI Heggeman Realty Co., Inc.
Cummings & Associates, Inc.
23,400.00; thereof:
Office: 2,385.00
Warehouse: 21,015.00 Praytor Properties LLC
Saad & Vallas Realty Group, LLC
Saad & Vallas Realty Group, LLC
Prudential Cooper & Co., Inc. Commercial Division
20,900.00 Prudential Cooper & Co., Inc. Commercial Division
NAI Heggeman Realty Co., Inc.
Prudential Cooper & Co., Inc. Commercial Division
R&T Properties
17,000.00
Marl Cummings, III
Gregory B. Saad
Bernie Heggeman
Marl Cummings, III
Tommy Praytor, CCIM
Gregory Saad, CCIM
Gregory Saad, CCIM
David Cooper
Jimmie Few
Bernie Heggeman
J. Turner, III
William Tonsmeire
marl@cummingsassoc.com
bheggeman@heggeman.com
gregsaad@saad.com
gregsaad@saad.com
davidcooper@prucooper.com
jimmiefew@prucooper.com
bheggeman@heggeman.com
jturner@prucooper.com
Page 30 of 36
Baldwin only
source
4
1
2
2
5
id number
number
62
21
54
56
64
1
3
1
3
3
5
1
3
3
4
3
2
24
51
22
48
49
65
23
50
52
61
53
55
date period
months
sp/su
October
October
sp/su
October
sp/su
September
October
sp/su
October
October
September
October
date year zipcode
bldg name
number
name
year
2006
36507 Gulf Packaging Building
2006
36507
2006
36507
2006
36507
2006
36507 Jima Building
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
2006
36526
36527
36535
36535
36535
36535
36551
36551
36551
36567
36580
36580
Irvine Properties Building
Spanish Fort Business Park
Delphi Mechatronics
12293 Grantham Road
Azalea Avenue Self Storage
Peavey Electronics Building
Hwy 59 & Hwy 49
Loxley Warehouse
Loxley I-10 Business Park
Blue Marble Building
Madison Commercial Park
Madison Park
location
address
111 S. Hoyle Street
Hwy 59
40390 Hwy 59 south
40390 Hwy 59 south
501 Pearson Drive
Equity Dr.
30694 Jay Drive
17195 Highway 98
12293 Grantham Road
114 E. Azalea Avenue
410 East Section Pine
Hwy 59
25778 Highway 59
Hwy 59 North
23226 Grissom Drive
717 Cardinal Circle
629 Wynn Road
space avail
number
54,000.00
sales price
dollars
3,140,000.00
2,645,500.00
699,900.00
699,900.00
18,000.00
5,550.00
94,049
8.00
14,626.00
site s.f.
number
304,920.00
17,728,920.00
130,680.00
345,500.00
89,900.00
2,100,000.00
325,000.00
4,500,000.00
780,000.00
750,000.00
871,200.00
422,000.00
535,000.00
395,000.00
21,780.00
827,640.00
609,840.00
219,542.40
479,160.00
176,200.00
87,120.00
87,120.00
23,958.00
21,780.00
Page 31 of 36
bldg. s.f.
number
company
name
Cunningham Foley & Barnes
16,625.00 Cityfeet.com
16,625.00 Coldwell Banker Commercial, JME Realty
18,000.00
Office: 1,250
Warehouse: 600 Irvine Co, Inc.
KV Properties LLC
78,750.00 NAI Heggeman Realty Co., Inc.
RE/MAX of Gulf Shores
83,900.00 Argus Self Storage
94,049
Saad & Vallas Realty Group, LLC
5,545.00 Praytor Properties LLC
KV Properties LLC
14,626.00
7,200.00 Cramton Real Estate
5,600.00 Landel Realty, LLC
agent
name
LaSha Powell
email
address
lopowell@cunninghamandfoley.com
Brian Griggers
Stake Irvine
Keith Vaughan
Bernie Heggeman
John Andrews
Bill Barnhill
sirvine@aol.com
Tim Herrington
Tommy Praytor, CCIM
Keith Vaughan
therrington@saad.com
bheggeman@heggeman.com
Michael Ferrell
William W. Hyatt, CCIM
Page 32 of 36
MARKET WATCH
Table 11.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Sale
Advertised Sales Price per S.F. by Zipcode (Lots only)
property
number
34
35
36
37
38
39
40
zipcode
number
36606
36606
36606
36606
36606
36606
36606
median
properties reporting
advertised sales price
dollars
45,000
45,000
48,000
75,100
57,450
51,800
60,000
$
51,800
7
Note: An average has been entered for lease rates reported as a range.
Page 33 of 36
MARKET WATCH
Table 12.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Advertised For Sale
Calculated Sales Price per S.F. by Zipcode (Lots only)
property
number
34
35
36
37
38
39
40
zipcode
advertised sales price
number
36606
36606
36606
36606
36606
36606
36606
dollars
median
properties reporting
median sales price
per site s.f.
45,000
45,000
48,000
75,100
57,450
51,800
60,000
$
51,800
7
calculated site
price per s.f.
dollars
1.80
1.80
2.39
5.75
2.71
2.66
2.10
site s.f.
number
25,000
25,000
20,080
13,050
21,230
19,440
28,560
21,230
7
7
$
2.39
Note: An average has been entered for lease rates reported as a range.
Page 34 of 36
MARKET WATCH
Table 13.
2006 Spring/Summer Industrial Properties
Mobile and Baldwin
Masterfile of Industrial Properties Advertised for Sale (Lots only)
Mobile only
source
1
1
1
1
1
1
1
id number
number
7
8
9
10
11
12
13
date period date year zipcode
bldg name
location
months
year
number
name
address
sp/su
2006
36606 Lot 1 Gordon John Dr Lot 1 Gordon John Dr
sp/su
2006
36606 Lot 4 Gordon John Dr Lot 4 Gordon John Dr
sp/su
2006
36606 Lot 5 Gordon John Dr Lot 5 Gordon John Dr
sp/su
2006
36606 Lot 6 Gordon John Dr Lot 6 Gordon John Dr
sp/su
2006
36606 Lot 7 Gordon John Dr Lot 7 Gordon John Dr
sp/su
2006
36606 Lot 8 Gordon John Dr Lot 8 Gordon John Dr
sp/su
2006
36606 Lot 9 Gordon John Dr Lot 9 Gordon John Dr
space avail sales price
number
dollars
45,000
45,000
48,000
75,100
57,450
51,800
60,000
Note: An average has been entered for lease rates reported as a range.
Page 35 of 36
site s.f.
company
number
name
Lot 100x250 Dauphin Realty of Baldwin County
Lot 100x250 Dauphin Realty of Baldwin County
Lot 80x251x130x261 Dauphin Realty of Baldwin County
Lot 50x261x253x386 Dauphin Realty of Baldwin County
Lot 55x386x285x180 Dauphin Realty of Baldwin County
Lot 108x180x175x204 Dauphin Realty of Baldwin County
Lot 140x204x128x36x233Dauphin Realty of Baldwin County
agent
name
Geoge Kennedy
Geoge Kennedy
Geoge Kennedy
Geoge Kennedy
Geoge Kennedy
Geoge Kennedy
Geoge Kennedy
email
address
georgekennedy@dauphinrealty.com
georgekennedy@dauphinrealty.com
georgekennedy@dauphinrealty.com
georgekennedy@dauphinrealty.com
georgekennedy@dauphinrealty.com
georgekennedy@dauphinrealty.com
georgekennedy@dauphinrealty.com
Page 36 of 36