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Sales of Likely Opportunity Zone Properties Climb 8 Percent Over Last Year

Investors pumped $2.6 billion more into properties covered by the federal Opportunity Zone tax incentive initiative — an 8 percent increase from the same time last year — even before the Treasury Department released guidelines on the program. Almost 40,000 properties in the nation’s more than 8,760 zones have sold this year, according to CoStar data. More than 51,400 properties …

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Rock Apartment Advisors Earns Costar Power Broker Award

Rock Apartment Advisors was awarded a Costar Power Broker Award for Sales Transactions. Every year CoStar Power Broker Awards celebrates the top CRE firms and brokers like you in the United States and Canada. Over the past 18 years, CoStar has recognized the industry leaders for their success in the commercial real estate market. Congratulations to the Rock Team on …

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Rock Apartment Advisors Represents Seller in $4 Million Transaction

Arch Companies, a New York based real estate investor has purchased the Meadowbrook apartments, a 60 unit apartment property in Foley, AL. Donald Gambril and Micah Dodd with Birmingham based Rock Apartment Advisors represented the seller, also based in New York, in the deal. The purchase price was $4,000,000, or $66,667 per unit. The property consists of two and three-bedroom …

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Facebook Plans $750M Data Center in Alabama

Another global brand is coming on the way to Huntsville. Facebook has unveiled plans to build a 970,000-square-foot data center in Huntsville. It’s a $750 million project that will create 100 jobs. The facility, which will be in North Huntsville Industrial Park, is expected to open in 2020. Local officials previously approved the purchase of 340 acres in the park …

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Rock Apartment Advisors and Harbert Realty Services Represent Seller in $9.55M Transaction

A Washington D.C.-based investor has purchased Avenues on 61st Luxury Apartments, a 128-bed apartment community in Savannah, GA. Micah Dodd and Donald Gambril with Birmingham-based Rock Apartment Advisors, along with Casey Howard, Vice President with Harbert Realty Services, represented the Seller, based in Jacksonville, Florida, in the transaction. The property sold for $9,550,000, or $74,609 per bed. The property consists of …

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Production Ramp-Up at Airbus Alabama Factory Could Add 600 Jobs

On Tuesday at Airbus’ Mobile facility, high-ranking executives of Airbus and Bombardier gave the first detailed briefing on their plans for a production ramp-up that would bring the C Series to Alabama. For that to happen, though, antitrust regulators must give their approval for Canada-based Bombardier to produce the aircraft in Alabama. “As soon as we get that done, we’re going to break ground …

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January Brings Surge In Apartment Starts

WASHINGTON, DC—Amid a general rise in residential construction activity last month, multifamily starts posted especially strong gains, according to federal data released Friday. Apartment starts were up 23.7% in January from the previous month to a seasonally adjusted annual rate of 449,000 units, while single-family starts were up 3.7%. Overall, housing starts rose 9.7% from December to an SAAR of …

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BOCAR to add more than 300 jobs in north Alabama

BOCAR, a Tier 1 automotive supplier, plans to invest $115 million in a new plant to be built in Huntsville in Limestone County. The company will hire more than 300 people, adding to the state’s booming automotive manufacturing sector. BOCAR company leaders made the announcement on Thursday at the Huntsville/Madison County Chamber along with representatives of the City of Huntsville …

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Upcoming call center could bring more tech jobs to Anniston, officials say

The developer of a call center opening soon in Anniston says he’s excited about what the new jobs will mean for the area, and that there’s potential for even more growth once the company opens. Todd Davis, an Anniston real estate agent and a developer of the call center project, said Wednesday that in addition to the 150 call center …

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Baptist to bring 250 jobs to downtown Jackson

Baptist Memorial Health Care will move 250 jobs to downtown Jackson, the hospital announced Thursday. Sixty of those jobs will be new and all of them will comprise the hospital system’s business operations center. Baptist will lease four floors, 41,000 square feet, of the Regions Plaza building at 210 E. Capitol St. “This new office will centralize the business office …