Ackerman & Co. Buys Dollar General Distribution Center in Alabama

The $25.5 million deal marks the company’s first investment in Alabama. Image courtesy of Ackerman & Co.

Ackerman & Co. has purchased a 307,200-square-foot distribution center in Birmingham, Ala., for $25.5 million, according to Jefferson County public records. The property changed hands from Joe Piper Inc., that also originated a $16.6 million acquisition loan.

This marks Ackerman & Co.’s first investment in the state. CBRE’s Philip Yost worked on behalf of the seller, while the new owner was represented in house.

Birmingham is a major distribution hub in the Southeast area, and the industrial asset is situated within the Bessemer submarket, where the vacancy rate currently sits at 2.5 percent, added Ackerman & Co.’s Senior Vice President Brett Buckner in prepared statements.

Located at 1532 Midfield Industrial Blvd., the property includes 28-foot clear heights, 17 dock-high doors, solar panels, one drive-in door and a Norfolk-Southern railway line allowing direct access into the building. The property is fully occupied by Dollar General, that uses it as a warehouse.

Built in 2005, the distribution center is located on 45 acres, close to U.S. Highway 11 and to Interstate 20, 10 miles from downtown Birmingham, 15 miles from Birmingham-Shuttlesworth International Airport and within 50 miles of Tuscaloosa, Ala. Additionally, the deal includes a 23-acre lot on which a future expansion, storage or built-to-suit opportunity, could be created.

The company’s industrial footprint in the Southeast includes multiple project underway, such as the 1 million-square-foot Braselton Logistics Center in Atlanta or the 710,962-square-foot Dragstrip DC project in Lakeland, Fla. Earlier this summer, Ackerman & Co. picked up a 212,232-square-foot Class A building in Conyers, Ga.