[Updated Oct 2020] A guide to executive suites and office space to rent in Birmingham AL as well as general information that may be useful if you are considering renting office space in Birmingham AL.
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History & Geography
As the largest city in Alabama, Birmingham AL is a cultural and economic icon. The city is located in the almost exact center of the state in the Jones Valley, with the foothills of the Appalachian on either side. Birmingham AL sits in the Ridge-and-Valley region of the Appalachians, spread out over Red Mountain, Shades Valley and Shades Mountain. Founded on June 1st 1871, Birmingham AL is a town created by railroad entrepreneurs, plantation owners and bankers. The town first grew up around a trading post on the crossroads of the Alabama & Chattanooga and South & North Alabama railroads. As the city developed large deposits of coal, limestone and iron ore were found in the vicinity, the three key ingredients to making steel. Birmingham AL is the only place on earth where all three occur naturally in the same area. By 1911 Birmingham AL was a major center of industry and had absorbed several smaller towns in the vicinity, including Elyton. By the early 20th century Birmingham AL had been dubbed ‘the Magic City’ due to its astronomical growth and the number of high-rise buildings springing up in its downtown area. When the Great Depression hit, Birmingham AL was affected particularly badly, especially when rural workers from the surrounding countryside flocked to the city to find work. However, the advent of WWII meant that steel demand rose and Birmingham AL prospered once more. During the 1950s and 60s, the city was at the center of the civil rights struggle and was the site of several bombings and other incidents. Martin Luther King Jr wrote his famous ‘Letter from a Birmingham AL jail’ from the city while imprisoned. During the 1970s Birmingham AL was extensively redeveloped though this did not stop many of the city’s wealthier citizens moving to the suburbs. Today the city is experiencing something of a revival with money being invested in restoring downtown and more restaurants and other attractions being opened downtown.
Economy
Almost from its inception, Birmingham AL’s economy has been run by the steel industry. Today steel no longer reigns quite so supreme but is still an important pillar of the city’s economy. American Cast Iron Pipe Company and McWane, two of the largest steel companies in the country, are based in Birmingham AL. And those with a significant presence in the city include CMC Steel, US Steel and Nucor. Another major industry in Birmingham AL today is medical research and biotechnology. The University of Alabama at Birmingham AL (UAB) and its hospital, the UAB Hospital, are major centers of research and the hospital itself is a level 1 trauma center. UAB is the largest employer in the city and the second-largest in the state of Alabama. Banking is yet another bulwark of the Birmingham AL economy, with two of the region’s largest banks based in the city, Regions Financial Corporation and BBVA Compass. Birmingham AL has a fairly low cost of living and competitive salaries. The city is continually rated as one of the best places to work in the country was recently found to be among the best in the country for building personal net worth.
Tourism & Culture
Birmingham AL does not have a large tourism industry but is a well-known city due to its history. The city has a number of prominent museums, including the Birmingham AL Museum of Art and the Birmingham AL Civil Rights Institute, chronicling the history of the civil rights struggle in the city. There are also a number of festivals in the city that are popular with visitors. The most famous of these is the Taste of 4th Avenue Jazz Festival, which takes place at the end of September every year. The Southern Heritage Festival is another popular festival with visitors. Started in the 1960s the festival celebrates music, arts and entertainment from the African American community in the city. Among the sites in the city is the Vulcan Statue which stands atop Red Mountain honoring blacksmiths and steelworkers. Many visitors also take in the Birmingham AL Botanical Gardens and Kelly Ingram Park, where many civil rights protests took place. For shopping, most go to The Summit, which has a number of stores and restaurants, including Saks Fifth Avenue, The North Face and Belk. Finally, the ruins of the Tannehill Iron Furnaces is also a popular site and was a large maker of arms for the Confederate Army during the Civil War.
Transportation
Birmingham AL is served by the Birmingham AL-Shuttlesworth International Airport which serves more than three million passengers every year. The airport sees over 150 flights daily and runs service to 37 cities in the US. The city itself is served by the Birmingham AL-Jefferson County Transit Authority, which has a bus and trolley system running throughout the city. Birmingham AL is also at the center of a network of freeways running through the Southeast and is reachable from any major city or town in the area.
Office space for rent in Birmingham AL AL
Currently, the vacancy rate of the Birmingham AL CBD stands at approximately 14 percent, with rental rates at USD 19.73 per square foot. The Midtown submarket in Birmingham AL has shown signs of growth, as has some of the suburban office markets. It is in midtown thought that analysts have predicted more construction of Class A office space will eventually take place. Birmingham AL was hit hard by the recession and its office market experienced negative absorption for three years, only stabilizing in 2011. Growth has been slow since, even flat, however, there have been no signs that it will go back to the negative rates experienced recently.
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