Dick Schmalz and Scott Bryant are teaming up again to bring more than 21,000 square feet of office space to the Rotary Trail.
Located at 2115 to 2119 First Ave. S., the currently unnamed project includes the redevelopment of an existing 5,000-square-foot building along with the construction of a new three-story building with 16,000 square feet of office space and a common area rooftop.
Available for lease or sale, the office spaces range from about 4,750 to 6,000 square feet.
First Bank of Alabama is providing financing for the project, and the project team includes CCR Architecture and Interiors, MMT Engineering, and BHATE Geo Sciences.
“We think it’s indicative of what’s possible down here along the Rotary Trail. We see this as a little pocket for growth for small developments like this with access to entertainment and other amenities that you just don’t get on the north side and the CBD.”
Martin Smith, SRS Real Estate Partners
Bayer Properties is redeveloping the Hardwick building nearby for mixed-use in a project that may set the tone for future office development. Smith sees these new office projects as a proactive response to the demands the coronavirus pandemic have placed on the office market.
“We believe that there’s opportunity because of so many of the changes that have occurred and been accelerated by Covid that there are going to be opportunities to lease smaller offices to businesses. They’re going to be looking to take on a smaller footprint and I think we’ve got a unique deal here located right on the Rotary Trail with easy access to 20 Midtown, Parkside, Lakeview.”
Martin Smith, SRS Real Estate Partners
Schmalz and Bryant are also partnering on a mixed-use project at 425 20th St. S. as well as the third building for 20 Midtown, where retail tenants are expected to be announced soon.
Learn more in the article published by Birmingham Business Journal.