RCS Acquires 1M+ Square Foot Industrial Space in Birmingham, AL
REAL CAPITAL SOLUTIONS ACQUIRES 1M+ SQUARE FOOT
INDUSTRIAL SPACE IN BIRMINGHAM, AL
Purchase Marks the First Acquisition in Alabama for the Company
LOUISVILLE, Colo., April 29, 2019 – Real Capital Solutions (“RCS) is pleased to announce the purchase of 422 Industrial Drive, a 1,311,295 square foot industrial building located in Birmingham, AL. The property features approximately 896,000 SF of typical warehouse space and 415,000 SF of freezer/cooler space. The building was originally built in 1985 and added onto through 1991. There are 214 loading doors with cross-dock capability.
The property is located with close-proximity to Atlanta, Mobile, New Orleans and Nashville making it an excellent distribution node for the southeast. “We like both the high clear height (32’-35’) as well as the locational advantage this space provides for both our current and future tenants,” said Joe Bowar, VP of Commercial Acquisitions at Real Capital Solutions. The layout of the property allows for a large single user or multiple smaller users looking for single load bulk industrial space. The facility is situated just south of downtown Birmingham with close access to I-65 and I-20.
This purchase represents the first purchase for Real Capital Solutions in Alabama. RCS already owns industrial buildings in Little Rock, AR, Jacksonville, FL, Orlando, FL and St. Louis, MO, in addition to a broader portfolio of office, retail, condominium and apartment assets totally $1.6 billion of assets under management. “We are excited for our new purchase in the Alabama market as 422 Industrial represents one of the largest buildings in a market that is experiencing sub five percent vacancy,” said Bowar. Significant upgrades have already been made to the freezer and cooler areas, roofs, electric grid and dock doors.
About Real Capital Solutions
Real Capital Solutions is a highly entrepreneurial real estate company that invests smart capital and provides practical solutions for real estate opportunities. For over 30 years, RCS has achieved great success investing in entrepreneurial real estate ventures. During that time, the company has purchased and managed more than 365 real estate investments totaling approximately $3.5 billion. Real Capital Solutions’ investment performance is a result of a solutions-oriented approach to property acquisition, development, management and divestiture. RCS will continue to produce exceptional returns for its investors by working with operating partners that share the same entrepreneurial drive and operational precision in order to achieve extraordinary performance. Learn more at https://realcapitalsolutions.com.
Our Mission at Real Capital Solutions includes a strong focus on giving back. Marcel Arsenault, CEO and Founder, and his wife, Cynda Collins Arsenault, have endowed three foundations during the past decade, including the One Earth Future Foundation in Broomfield, Colorado. One Earth Future seeks to develop and operate multi-level, multi-stakeholder engagement to bring empirical solutions to global problems. Learn more at https://oneearthfuture.org/.