Gorney Realty Co. Acquires Office Portfolio At 500 And 1200 Meadow Brook North For $28.25M

Gorney Realty Co. acquired a two-building office portfolio located at 500 and 1200 Meadow Brook North in Birmingham, AL, for a total of $28.25 million. The properties collectively encompass a square footage of 265,032, translating to a price per square foot of $107.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $28,250,000
• Buyer: Gorney Realty Co.
• Seller: SDM Partners & Blue Vista Capital Management
• Broker: JLL
• Market: Birmingham, AL
• Square Footage: 265,032
• Price Per Square Foot: $107

Gorney Realty Co.'s investment in this property signifies an out-of-state entry into the 280/Southern submarket, indicating strategic growth in their portfolio.