New Daniel Payne Corporate Center
CFO 6/23/26: New Shallow Bay Industrial • 100% Lease to 3 Credit Tenants • Southeast Infill Location
Marketing description
Cushman & Wakefield + Graham & Company are pleased to offer for sale a new shallow bay 140,000 square feet (SF) multi-tenant industrial building located at 419 Republic Street, Birmingham, Alabama. The property is situated on a 9.56 acre site in Birmingham’s Central Submarket, approximately 3.5 miles north of Downtown Birmingham and 5 miles west of the Birmingham-Shuttlesworth Airport. This is an ideal location for service companies and parts distributors serving customers around Downtown Birmingham and others located further out in the regional metro area.
The Property
The building is the first speculative warehouse constructed since 2003 in the Central Submarket that features 200’ bay depths which allows for divisibility down to 20,000 SF. Other speculative warehouses constructed in the broader market since 2003 typically have bay depths ranging from 250’ to 385’ and cannot divide down below 50,000 SF. The 20,000 SF to 40,000 SF spaces in the subject property are ideal for service companies and product distributors.
100% Leased
The building is fully leased at market rents to the following three credit tenants; TireHub (30,000 SF); Crawford (70,000 SF); and East Penn (40,000 SF). The WALT is 5.31 years. Before extra tenant improvement amortization, the annual rent increases range from 3.00% to 3.50%.
Investment highlights
Property’s Shallow Bays
- The first divisible shallow bay speculative warehouse constructed in the Central Submarket since 2003.
Location
- Ideal for service companies and product distributors with customers surrounding Downtown Birmingham.
- The nearby interstate highway system provides efficient access to customers located further out in the regional area.
Credit Tenants
- TireHub has one of the largest tire distribution networks in the US
- Crawford Electric Supply is a large electronics parts distributor that was recently acquired by French company the distributes electronics parts in over 40 countries.
- East Penn Manufacturing is one of the largest car battery producers and distributors in the US.
Convenient Access to I-65, I-20, I-22 and I-59
- The property has convenient access to Interstates 65, 20 and 59, which enables the tenants to efficiently reach customers located throughout the extended Birmingham Metro Area
- I-20 extends East to Atlanta. I-59 extends Northeast to Chattanooga. I-59 extends Southwest to industrial pockets including JeffMet Park, Vance, and Tuscaloosa. I-22 extends Northwest to Memphis
- I-65 extends North to Huntsville and Nashville, and South to Montgomery and Mobile.
Multiple Regional Economies Geared for the Future
- The Birmingham Metro Area is the commercial, industrial, and educational center of Alabama with financial service companies’ headquarters, steel plants, auto assembly plants, auto parts manufacturers, and large universities.
- Alabama is the technology center of the Southeast with its outer space and defense sector in Huntsville, auto manufacturing industry throughout the state, and its Airbus commercial aircraft production in Mobile.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
