TULSA, Okla., Sept. 10, 2024 | TruCore Investments announced their acquisition of a 96,000 sq. ft. Class B industrial facility in Birmingham, Ala. This marks the group’s first investment in Birmingham. TruCore secured the property on a private placement basis, avoiding a broad competitive bid process via a direct relationship with the broker. This deal was executed with brokerage assistance from Jake Bottcher, Sonny Potter and Edwin Moss at JH Berry along with Chip Watts at Watts Realty.
The ideally located infill property at 3230 Messer Airport Highway is leased to multiple tenants with approximately 60,000 square feet of vacant space. TruCore is set to improve the facility functionally and cosmetically, including an exterior refresh, as they market the facility to future tenants. This purchase advances the group’s ongoing portfolio expansion, with more than $130 Million secured during the last two years.
“This acquisition aligns well with our targeted, national Class B Industrial investment strategy,” said Zach Harris, TruCore Investments Managing Director and Partner. “Birmingham is the most populous market in Alabama and was founded on a culture of entrepreneurship and resiliency. A diverse range of companies thrive there, taking advantage of the city’s vast transportation network.”
Built in 1979, the concrete structure is situated on 4.36 acres and features 14 drive-in doors, 30 dock doors, as well as 48 parking spaces.
TruCore Investments is the trusted leader in Class B Industrial real estate investment. Leveraging the vast experience of the group’s founders, including former Stan Johnson Co. executives, TruCore exclusively specializes in uncovering and acquiring value-add investment properties in the Class B Industrial real estate asset class.