Birmingham, AL (March 2023) – Graham Capital, the Birmingham, Alabama-based real estate investment company, recently announced the disposition of a newly developed, 121,680 SF industrial build-to-suit located within the Westbridge Business Park in Knoxville, TN for $23.5mn. The buyer was confirmed to be a private investor. Graham & Company acted as the developer on the project.
The brand-new, class-A asset was leased to Owens & Minor (NYSE:OMI) and Covenant Health, the largest employer and health system in Eastern TN. Both tenants will utilize the property as a primary logistics hub for the distribution and storage of critical medical equipment and supplies.
The facility was developed on a 16-acre site and features concrete tilt-up construction, 32’ clear height, full warehouse & office HVAC, and 29,900 SF of expansion capability. ARCO Design/Build served as the project’s design/build team, and financing was provided by Synovus.
About Graham Capital
Graham Capital is a real estate investment company based in Birmingham, Alabama, focused on the acquisition and development of highly functional distribution centers in high-growth Southeastern industrial markets, which continue to experience above-market rent growth, high barriers to entry, and the deepest demand among institutional investors.
About Graham & Company
Founded in 1978, Graham & Company is a full-service commercial real estate firm with offices in Birmingham, Huntsville, and Panama City, Florida. Graham offers investment sales, leasing, property management, and development services.
Graham & Company has been involved in the development and management of industrial properties, office buildings, office/service centers, and office rehabilitation projects throughout the Southeast. Over the last 20 years, Graham & Company has delivered more than 11 million SF of build-to-suit and speculative industrial and office projects, each involving a unique set of challenges and hurdles to overcome.
Graham & Co.’s projects and properties are managed by a staff of seasoned real estate professionals, including many who have earned prestigious designations such as SIOR, CRE, CCIM, LEED, RPA, CPM, and MAI.