(Read more on the industrial market.)

BIRMINGHAM, AL-Arcis Investments Inc. has acquired athree-building portfolio in Lakeshore Crossings Business Park for$16.2 million from a local partnership, East London I, II & IIILLC. The portfolio, totaling 155,806 sf, was fully leased at saletime.

Sonny Culp, senior vice president for Graham & Co.'sBirmingham office, tells GlobeSt.com that Tampa-based Arcis'acquisition was a strict investment play--unlike its otherpurchases in the area. "Typically, they like stuff with upside,mostly value buys with vacancies," says Culp, who represented theseller. "This particular purchase was an income play, a cap-ratedeal with stabilized income. They saw it as a nice mix with whatthey already have." The just-bought buildings are located at151-201 London Pkwy. and 1030 London Dr.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.