{ Full BBJ Article Here } A German auto supplier will establish its first North American facility in Montgomery, which is expected to create 235 jobs. Made in Alabama reports today that Gerhardi Kuntstofftechnik held a groundbreaking ceremony Tuesday to announce its plan to invest $37.9 million in a new facility. “This is a great opportunity for Gerhardi, and we …
Yulista Aviation expansion could create up to 200 jobs
{ Full Birmingham Business Journal Article Here } Yulista Aviation could be expanding its workforce in Huntsville by as many as 200 employees. The company, which announced plans last month to bring a new hangar and support facility to the Huntsville Executive Airport, broke ground on the $13.5 million expansion last week. The expansion will bolster the company’s capabilities for …
Tuscaloosa plant expanding
{ Full Birmingham Business Journal Article Here } Michelin North America last week announced plans for an $8 million expansion at its BFGoodrich plant in Tuscaloosa. The 29,000-square-foot facility, which has been operating for more than 70 years, is set to see a 215 percent increase in space available with the construction of the additional storage space. The company currently …
Yardi: Rents Hit All-Time High in June
{ Full Multifamily Executive Article Here } For the third straight month, U.S. apartment rents saw double-digit gains, according to Yardi Matrix’s monthly survey of 119 markets. This time, rents rose $10, or 0.9%, in June, to an all-time high of $1,213. In the second quarter, rents climbed 2.7% and 5.6% year over year. But it wasn’t all good news, …
Freddie Mac: Over 5 Million Baby Boomers Expect to Rent Next Home by 2020
{ Full Multifamily Executive Article Here } Freddie Mac has released a study of the housing plans and perceptions of those 55 or older, showing that nearly 6 million homeowners—and almost as many older renters—are looking to make at least one more move. And that move will be into rental housing. Digging deeper, the survey shows that more than 5 …
Auburn apartment property sells for $18M
{ Full BBJ Article Here } Atlanta-based Mesa Capital Partners purchased Arbors at Meadow Brook, a multifamily property in Auburn, for more than $18 million. Birmingham’s Rock Apartment Advisors brokered the sale, which followed a competitive bidding process. The purchase price was $18.1 million, or $84,579 per unit. According to a press release, the financing was arranged by Capital One’s …
How Brexit Impacts U.S. Multifamily
{ Full Multifamily Executive Article Here } Great Britain voters decided on June 23 to leave the European Union. The somewhat surprising 52%-48% result — the “remain” side had a narrow lead in the final pre-vote polls — was capped by Prime Minister David Cameron’sannouncement that he would resign. Analysts are mixed about the effect the “Brexit” from the EU will have on the …
Rock Advisors’ Bo Flurry: Meet the executive atop Birmingham’s multifamily mountain
Bo Flurry is in the midst of one of Bham’s hottest markets { Full BBJ Article Here }
Coca-Cola Bottling Company opens new $35 million distribution center, warehouse in Montgomery
{ Full AL.com Article Here } Coca-Cola Bottling Company dedicated its new, state-of-the-art $35 million distribution center and warehouse in Montgomery on Tuesday. Montgomery Coca-Cola has added 63 jobs to the workforce since November 2014, and now employs 310 with an annual payroll of approximately $13 million, the company announced. “The addition of the state-of-the art regional distribution center further …
UTC Aerospace bringing 260 additional jobs to Foley
{ Full Article Here } Charlotte-based UTC Aerospace Systems announced Tuesday plans to build an 80,000-square-foot manufacturing facility in Foley, about 40 miles southeast of Mobile. The new manufacturing facility will create up to 260 new jobs to southwest Alabama and is projected to open next year. The plant is designed to assemble jet engine covers to support the Airbus …