The Water Works Board Of The City Of Birmingham Acquires Technology Center Property In Birmingham, AL For $6.06M

The Water Works Board of the City of Birmingham has acquired a mixed-use technology center property located at 100 Lucerne Lane in Birmingham, AL. The property consists of a 30,000-square-foot building situated on a 5.4-acre site. The transaction closed on July 25 for a sale price of $6,060,000, resulting in a price per square foot of $202.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $6,060,000
• Address: 100 Lucerne Lane, Birmingham, AL
• Market: Birmingham, AL
• Size: 30,000 square feet
• Price per square foot: $202

The buyer, The Water Works Board of the City of Birmingham, acquired the property from Photonics Innovations Inc. This acquisition allows the buyer to expand its operations and leverage the existing infrastructure in the technology center. Previously, the property was occupied by IPG Southeast Technology Center. The deal marks a significant investment in Birmingham's technology sector and demonstrates the buyer's commitment to fostering innovation within the city.