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'''85 Bagby Drive''', also known as the '''University Building''', is a three-story 40,000 square-foot multi-tenant office building located at 85 [[Bagby Drive]], off of [[West Valley Avenue]] near [[I-65]] in [[Homewood]]. It was built in [[1970]]. | '''85 Bagby Drive''', also known as the '''University Building''', is a three-story 40,000 square-foot multi-tenant office building located at 85 [[Bagby Drive]], off of [[West Valley Avenue]] near [[I-65]] in [[Homewood]]. It was built in [[1970]]. | ||
Entrepreneur [[Bill Smith]] purchased the building in [[2013]]. After renovations and additional marketing, he increased tenant occupancy from 40 percent to 88 percent by the end of [[2016]]. Caishen Building LLC of The Villages, Florida purchased the building in December of that year for $1.62 million. | Entrepreneur [[Bill Smith (entrepreneur)|Bill Smith]] purchased the building in [[2013]]. After renovations and additional marketing, he increased tenant occupancy from 40 percent to 88 percent by the end of [[2016]]. Caishen Building LLC of The Villages, Florida purchased the building in December of that year for $1.62 million. | ||
[[Bradley Lewis]] of [[Leveraged LLC]] purchased the property from Caishen in [[2019]] for $1.535 million. After completing updates and adding tenant amenities, he sold the building to an affiliate of [[Farris Properties]] for $3.3 million. | |||
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* Godwin, Brent (February 1, 2017) "Homewood office building sells for $1.62M." {{BBJ}} | * Godwin, Brent (February 1, 2017) "Homewood office building sells for $1.62M." {{BBJ}} | ||
* Godwin, Brent (February 6, 2017) "Homewood building turnaround leads to sale to Florida investor." {{BBJ}} | * Godwin, Brent (February 6, 2017) "Homewood building turnaround leads to sale to Florida investor." {{BBJ}} | ||
* Van der Bijl, Hanno (January 2, 2020) "West Homewood office building sells for $1.5M." {{BBJ}} | |||
* Mann, Joshua (September 22, 2021) "Leveraged LLC sells Homewood office building for $3.3M." {{BBJ}} | |||
==External links== | ==External links== | ||
Latest revision as of 14:07, 19 August 2022
85 Bagby Drive, also known as the University Building, is a three-story 40,000 square-foot multi-tenant office building located at 85 Bagby Drive, off of West Valley Avenue near I-65 in Homewood. It was built in 1970.
Entrepreneur Bill Smith purchased the building in 2013. After renovations and additional marketing, he increased tenant occupancy from 40 percent to 88 percent by the end of 2016. Caishen Building LLC of The Villages, Florida purchased the building in December of that year for $1.62 million.
Bradley Lewis of Leveraged LLC purchased the property from Caishen in 2019 for $1.535 million. After completing updates and adding tenant amenities, he sold the building to an affiliate of Farris Properties for $3.3 million.
Tenants
- 1737 Photography
- Child Care Central
- Bill Meneese, neuropsychologist
- Strada Professional Services
References
- Godwin, Brent (February 1, 2017) "Homewood office building sells for $1.62M." Birmingham Business Journal
- Godwin, Brent (February 6, 2017) "Homewood building turnaround leads to sale to Florida investor." Birmingham Business Journal
- Van der Bijl, Hanno (January 2, 2020) "West Homewood office building sells for $1.5M." Birmingham Business Journal
- Mann, Joshua (September 22, 2021) "Leveraged LLC sells Homewood office building for $3.3M." Birmingham Business Journal
External links
- 85 Bagby Drive at Emporis.com