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Watts Happenings News and Blog

Grants Mill Road Land For Sale

System - Thursday, December 21, 2017
We try not to put too many "listings" on our Facebook, but this one
holds a special place with us. Mr. Hawkins brought on this listing many,
many years ago. It was quite a large parcel that we have sold in pieces
over multiple transactions. Shades Valley High School campus was part
of this land originally. We worked with ALDOT when Grants Mill Road
needed to cut across this land. We recently sold 34 acres to a Single
Family Home developer for a new neighborhood. All that remains
- 29.05 acres. Perfect for a Publix development, retail, residential
development, or even office park - as the location has only gotten
better over the years at the intersection of Grants Mill Road & Old
Leeds Road.



Our family is in the real estate business to serve other families that own real
estate. The man that owned this land, when Mr. Hawkins listed it for
him, passed it on to his three daughters. Those daughters passed it on
to the third generation over these past few years. We are proud to be a
fourth generation company representing multiple generations of family
owned properties - both in brokerage & management.

Merry Christmas! Please enjoy the time with your family over the holiday season, as we & our Clients do the same. ~ David

IKKO Ramen and Sushi Opening in 5 Points South Neighborhood

System - Thursday, December 14, 2017











Please welcome IKKO Ramen & Sushi to the 5 Points South Neighborhood. Today is their Grand Opening, so make sure to stop by and grab a bite to eat next time you are in the area.

Economic Outlook for 2018

System - Tuesday, November 28, 2017
The following is an exert from Nov/Dec 2017 edition of the Journal of Property Management by Joseph Dobrian...

"The consensus among property management specialists and other real estate services professionals is that 2018 will be another strong year for real estate generally, although the industry seems to have passed the peak of the "up" cycle.  Conceivably, a downturn is lurking, but it's not immediately in view."

That is the consensus from real estate professionals around the nation, as Chip explains how the deep south is looking to 2018.

"The Market looks strong in the Deep South too, for now," Chip Watts, CPM, CCIM, President and Executive CPM for Watts Realty Co., AMO, in Birmingham, Ala., predicts little change for 2018, although he's less sanguine about the long term.

"We'll have a strong 2018 for multifamily," he said. "We're seeing new projects being announced almost monthly.  Office is just a little soft and will continue to be so.  Relocations from suburban to urban buildings are on the rise, and total space requirements are increasing because offices have already gotten as small as they can get."

"Retail is in a transitional time. Some of the major chains are closing units, but single stores are coming back , which indicates to me that we have a strong economy."

The overall news is positive for property managers, he said, and for people who are considering entering the profession.

"Our multifamily market will remain strong, with lots of competition for staff talent through favorable salaries and benefits," he said. "Our commercial markets will be flat because we see a lot of space in transition now.  IN Alabama, you need a real estate license to lease space, but in some other states, you don't, so management companies there might have a larger pool of personnel to choose from."

"The challenges for property managers, in the coming year, will continue to be the ability to integrate technology into your marketplace, operate smart systems, and communicate via social media. Alabama will see a strong market in 2018; it's what could happen after that, that concerns us."

You can read more about the economic outlook for 2018 in real estate management here... http://www.jpm-digital.org/jpm/nov_dec_2017?pg=1#pg1



National Franchise Brands Exit 5 Points South Retail Spaces

System - Thursday, October 26, 2017
Chip gets down to the basics with Brent Godwin of The Birmingham Business Journal regarding several national franchise brands that have recently left the 5 Points South retail spaces looking for new tenants.  Click here for article.

"Are the new apartment buildings filling up?"

System - Sunday, October 8, 2017

"Are the new apartment buildings filling up?" That's the question Birmingham Business Journal's Brent Godwin set out to answer and Flats on 4th was able to deliver... again!

The article is in the subscriber content of the BBJ's website, so I posted a little bit of the intro to the piece. If you want to read the entire article (and if you're already a BBJ subscriber or don't mind becoming one) here's the link...https://www.bizjournals.com/birmingham/news/2017/10/05/how-one-downtown-apartment-development-is-filling.html

We've Moved for the 2nd Time In 111 years.

System - Monday, September 11, 2017

It's official! Out of the old and into the new.

Our office is closed today while we unpack and move things around a bit, but if you are looking for our office tomorrow, we'll be just down the street across from Regions Field and next to Sherwin-Williams Paint.

1527 3rd Ave S, Ste 102
Birmingham, AL 35233

The Faces Behind Commercial Real Estate Growth and the Revitalization of Downtown Birmingham

System - Thursday, September 7, 2017
Over the last few years, Birmingham has experienced a renaissance and redevelopment of downtown in large part due to commercial real estate growth. Commercial real estate, according the Birmingham Association of REALTORS®, contributes $465 billion a year to the U.S. GDP (Gross Domestic Products Index).













The economic impact of this commercial real estate growth, according to the Birmingham Business Alliance, was nearly $587 million in capital investments in Birmingham in 2016 resulting in 2,014 new jobs in the area. The commercial real estate industry stands ready to help businesses meet the needs they have- from retail space and office buildings to vacant land and warehouses.

The Birmingham Association of REALTORS® recently shined the spotlight on six members of the Birmingham Commercial Realtors Council who are doing their part to make Birmingham shine. These powerhouse members garner national and international attention for the Magic City.

For the rest of the article and their description of Chip's and Watts Realty's part in the revitalization effort, check out this link... https://bhamnow.com/index.php/2017/09/01/the-faces-behind-commercial-real-estate-growth-and-the-revitalization-of-downtown-birmingham/

Southside: Shaping The Future

System - Monday, August 7, 2017
Brent Godwin of the Birmingham Business Journal recently interviewed Chip about newly announced projects and some currently active projects slated for the Southside community of downtown Birmingham. The following is an excerpt. To read the entire article click on the link below.  

One of these announced projects is the Vesta development at 2173 Highland Ave South by Harbert Realty and Cortland Partners.  Slated to break ground later this month, Vesta will be a 17-story high rise and a 5-story mid-rise that will consist of roughly 318 upscale apartments, including roughly 6,500 square feet of retail space along with a number of amenities.

"There is definitely an uptick in interest in properties in Southside; however, this is not new... it just happens that the deals are just now closing," says Chip Watts of Watts Realty. "Several developers see Southside as an opportunity for infill projects - if the properties can be purchased at a decent price point. Several deals have been attempted, but only a very few have been successful."

In addition to Vesta, an expected redevelopment of the Southtown public housing site located on University Blvd and butts-up right next to the Lakeview district, has helped spark investors and real estate developers interest to begin buying Southside properties this year.

"It is anticipated that these two projects (Vesta and Southtown) will be catalyst projects that will allow infill projects to flourish," Watts previously told the BBJ. "I believe that developers are just now laying the groundwork for these infill projects to occur."

For the full article, click the link below.  Please be aware that you must be a subscriber to the BBJ in order to view this article.
https://www.bizjournals.com/birmingham/news/2017/08/03/how-thevesta-project-and-others-will-shape.html

Chip Talks with REV Birmingham's CEO David Fleming

System - Tuesday, July 25, 2017
Last week Chip met with REV Birmingham's CEO David Fleming to talk about the continuing construction and growth of the Downtown/Parkside District.  Check out the link or watch the video.

A Zyp Bike tour of Birmingham's future (Part 2 of 2) from Alabama NewsCenter on Vimeo.

A Letter From Camp

System - Sunday, July 9, 2017
As a lot of you familiar with Watts Realty Company know already, we are a big supporter of YMCA Camp Cosby.  Over the years a Watts has served on the Board for Camp Cosby as well as fundraising programs to send underprivileged kids to camp for a week.  As a thank you, we received a letter from Rylee (13) telling us all the fun and exciting things she has learned while at Camp Cosby. 

Thank you Rylee for the awesome letter and we will continue to work hard for kids to experience Camp Cosby, because through Camp Cosby we have learned a life motto that we carry with us everywhere and everything we do: "God is first, others are second, and I Am Third".

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Birmingham, AL 35233

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