Please provide a location to search for

Commercial Real Estate in Birmingham, AL - 160 Properties Available

Birmingham, AL Economic Overview

Location Photo

Birmingham offers considerable benefits for entrepreneurs, home buyers and employees. Thumbtack ranked it as the number 3 city in the country for women entrepreneurs. Birmingham also ranks among the top 10 markets for first-time homebuyers, as well as employee engagement (according to Forbes) and second in the country for median income growth (according to the Wall Street Journal).

Birmingham is an attractive investment destination, featuring multiple industries, such as: biotechnology and medical research; banking; steel industries and telecommunications.

The city boasts a strong consumer base, seeing as Birmingham houses the largest population within the state of Alabama. Among the 100 largest U.S. cities, Birmingham has the highest sales tax of, 10%, which also applies to groceries.

Birmingham, AL Commercial Real Estate Market

One of the key industries that played a key role in the Birmingham economy from the start is the steel industry. It may not be as prominent as it once was, but it still has a significant impact. The city is home to several of the largest steelmakers in the United States, such as Nucor, CMC Steel, and U.S. Steel.

Since the 1970s and 1980s, Birmingham was transformed by and became a major hub for biotechnology and medical research investment, centered around the University of Alabama at Birmingham (UAB). Its adjacent hospital, a Level I trauma center, consistently delivers breakthrough medical research. Other notable health care service providers include Diagnostic Health Corporation, Caremark RX, Surgical Care Affiliates, and Health South.

Birmingham was ranked the 10th largest banking sector within the U.S. in 2014. Two major banks are headquartered here: BBVA Compass, and Regions Financial Corporation. Although Birmingham commercial real estate is on an overall upswing, in 2015, the Birmingham office market began registering an increase in vacancy.

West Homewood office space had the highest vacancy rate, of 22.2%, despite having the lowest average asking rent per square foot. In contrast, Midtown Birmingham office space had the lowest vacancy rate of 7.2%, although average asking rent per square foot was among the highest.

Birmingham, AL Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Birmingham, AL Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Birmingham, AL Commercial Inventory Breakdown

Office Spaces

Total: 25,806,769 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 4,364,196 SF / 16.91% of total office
  • 100k to 500k SF: 16,529,903 SF / 64.05% of total office
  • 500k to 1M SF: 3,528,166 SF / 13.67% of total office
  • > 1M SF: 1,384,504 SF / 5.36% of total office

By class:

  • Class A: 15,768,109 SF / 61.1% of total office
  • Class B: 8,089,320 SF / 31.35% of total office
  • Class C: 1,949,340 SF / 7.55% of total office

Employment in Birmingham, AL

Employment

Due to competitive salary rates, complemented by relatively low living expenses, the Birmingham metropolitan area has consistently been ranked among the best places to work and earn a living in America.

Top industries with the highest number of employers include:

  • Educational services The University of Alabama at Birmingham is the largest employer in the city, with approximately 23,000 employees;
  • Financial services and banking Regions Financial Corp. has about 7,134 financial services employees;
  • Health care services St. Vincent's Health System has a dedicated workforce of about 4,786 employees, Baptist Health System, Inc. offers approximately 4,633 job opportunities and Children's of Alabama has about 4,543 workers;
  • Telecommunications AT&T has around 4,517 workers in its payroll.

Companies located in Birmingham include:

  • Insurance companies like Protective Life, ProAssurance, Infinity Property & Casualty, and Liberty National;
  • Construction and Engineering companies such as Robins & Morton, B.L. Harbert International, Brasfield & Gorrie, and BE&K;
  • Manufacturing is represented by two of the largest soft-drink bottlers in the U.S.–the Buffalo Rock Co. and The Coca-Cola Bottling Co.

The unemployment rate in Birmingham is 0.3% higher than the overall U.S. rate of 4.7% (as of April 2017). In the 3rd quarter of 2016, the Birmingham average weekly wage in all industries was $964, which is slightly lower than the overall U.S. average of $1,027.

Education in Birmingham, AL

Birmingham City possesses a higher percentage of bachelor’s degree holders (16.6% in 2015), compared to the Alabama state average of 15.4%. The city’s 62 schools enroll approximately 30,500 learners.

Home to highly respected colleges and universities, Birmingham includes a total of 14 institutions of higher learning. The University of Alabama at Birmingham is one of the nation’s top medical schools, the Birmingham-Southern College is a leading liberal arts college and Samford University’s Cumberland School of Law is a highly respected law school. Several community colleges and technical schools offer a variety of professional training courses.

Commuting Time in Birmingham, AL

Birmingham residents average 20.9 minutes of travel time, which is shorter than the 24.8-minute national average. And only 1.3% of the Birmingham workforce has 90+ minute “super commutes."

A diverse road network helps ease traffic, consisting of four Interstate Highways: Interstate 20, 65, 59 and 22. This is complemented by the southern bypass expressway Interstate 459, connecting with the Interstate Highways at various points: I-65 to the south, I-59 to the northeast, I-20 to the east, and I-20/59 to the southwest.

Birmingham Demographics

Population

  • Total Population212,265
  • Male Population(47.3 %) 100,454
  • Female Population(52.7 %) 111,811
  • Median Age35.70

Income/Financial

  • Average Household Income$48,614
  • Median Household Income$33,770
  • Median Income Under 25$18,757
  • Median Income 25-44$35,515
  • Median Income 45-64$37,016
  • Median Income Over 65$31,392

Residential Rents in Birmingham, AL

When choosing the best place for a business, location research is very important – not only for the office, but also for the employees’ convenience.

In 2015, Birmingham was Forbes’ top city on the list of America’s Most Affordable Cities. It was also ranked by Bloomberg Business as one of the Six Cities Where Millennials Can Afford to Pay Rent.

Renters pay an average of $850 per month and make up 50% of the population. This is largely due to the three large universities in the area, which draw students from across the nation.

News

Amazon’s search for a new home has stirred up city officials and developers across the country, and 238 applicants across North America have expressed interest in housing the company’s next headquarters. Of course, the retail giant has a few requirements: the chosen metropolitan area should idea...

COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Birmingham, AL. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 1533 square feet and 142058 square feet. Discover the right property from our 160 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.