Coro Realty has finalised the sale of two industrial buildings in Birmingham, Alabama, for $12.6 million. The properties, located at 3636 7th Avenue North and 608 37th Street North, form part of the Airport Highway Park portfolio and are fully let.

The Atlanta-based investment firm acquired the assets in early 2023 for $8.6 million as part of a seven-building, 319,413-square-foot industrial portfolio, purchased in partnership with H2RE Capital. This latest deal represents the first step in Coro’s wider value-add strategy, which centres on selective capital improvements, tenant enhancements and timely asset disposals.

“This transaction validates our investment thesis,” said Adam Holland, Vice President of Asset Management of Coro Realty. “We set out to enhance the physical condition of the assets, strengthen the tenant roster and bring them to market at the right time. This first sale demonstrates the results of that approach.”

Situated along Messer Airport Highway, the properties form part of a last-mile infill distribution hub positioned between Birmingham-Shuttlesworth International Airport and the city centre. The location provides swift access to a key distribution corridor that supports the manufacturing, automotive, and aerospace industries.

Birmingham’s industrial market has remained tight, with vacancy rates holding at around 2 percent, driven by sustained occupier demand and limited new construction.

Coro, alongside H2RE, intends to pursue the same investment strategy with the remainder of the portfolio, which continues to be fully occupied by a combination of national and regional operators.

Tripp Alexander and Will Canary of Colliers advised Coro in the sale.

About Coro Realty

Founded in 1997, Coro Realty is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape, and innovation, Coro Realty continues to demonstrate leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing, and property management for a variety of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of $1 billion. For more information, visit cororealty.com.