Coro Realty has acquired a 239,370-square-foot industrial facility at 3501 1st Ave N for $13.8 million, marking a significant reinvestment in Birmingham’s Eastside submarket shortly after the firm successfully sold two nearby assets.

The 100% leased facility sits on approximately nine acres in a high-profile infill location close to downtown Birmingham and I-20. Financing for the transaction was provided by Seacoast Bank. Bobby Norwood with JLL represented Coro Realty in securing financing.

The acquisition underscores Coro Realty’s ability to execute value-add strategies in high-growth Southeastern markets. In 2023, Coro Realty purchased for $22.2 million a seven-building, 319,000-square-foot portfolio within a half of a mile of 3501 1st Ave N. After upgrading the buildings and its tenants, Coro Realty sold 125,000 square feet of the portfolio for $12.6 million in 2025. Coro Realty’s purchase of 3501 1st Ave N was borne of the same value-add program, highlighting the firm’s strategy of recycling capital into assets with long-term upside.

“This acquisition is a natural progression of our activity in Birmingham,” said Ansley Nixon, Coro Realty’s Executive Vice President, Capital Markets. “By leveraging our knowledge of the Eastside submarket, we are securing a high-performing asset in the path of progress. We remain bullish on Birmingham’s Eastside and shallow-bay industrial real estate and are actively seeking future opportunities to expand our portfolio.”

The property is currently occupied by the U.S. Postal Service, Division 7 Supply and Sara Sells. Originally constructed in 1965, it features 20 dock-high doors, LED lighting and a rail spur with potential connectivity to an active Norfolk Southern line.

Beyond its current use for distribution and logistics, the site holds significant long-term potential. The Eastside submarket is experiencing a surge in adaptive reuse activity, with historic industrial structures being converted into creative offices, retail and entertainment hubs.

The largest MSA in Alabama, Birmingham has low industrial vacancy rates, strategic connectivity via I-20, I-65 and I-59 and an evolving economy rooted in logistics, healthcare and technology.

Tripp Alexander and Will Canary with Colliers represented Coro Realty. Jake Viverette and Will Redding with The Overton Group and Edwin Moss and Benjamin Bottcher with JH Berry represented the seller in the transaction.