Buildings don't just sell themselves. Often it takes determined effort.
Such was the case with 510 Brickyard Road, a modest 150,420-square-foot warehouse and distribution center in Phenix City, Alabama, just over the border from Columbus, Georgia.
The facility, which was put up for sale at a time of rising interest rates and buyer caution, eventually landed a new owner after 18 months — including a four-month negotiation. But the wait was worth it, said the broker who handled the transaction, a deal that would garner a CoStar Impact Award as judged by real estate professionals in the area.
The project is “significant in its size and economic impact to the east Alabama and west Georgia region,” wrote Jack Hayes, CEO for the brokerage NAI G2 Commercial.
An autoparts manufacturer named NVH Korea ultimately claimed the property, turning what had been vacant industrial real estate into a base for long-term economic activity.
About the transaction: NVH Korea paid nearly $6.7 million for the building, which sits on about 22 acres. The building was constructed in 1991 and renovated in 2023.
What the judges said: "The sale of 510 Brickyard Road is a perfect example of an impactful acquisition. This project allowed a neighboring county's industry to expand without leaving the market, [the deal filled] a long vacant facility, and provided jobs and capital investment in a growing area that benefits the entire region," said Missy Kendrick, chief executive with the business booster group Choose Columbus.
They made it happen: The brokers who handled the listing were NAI G2 Commercial CEO Jack Hayes and David Johnson, chief of brokerage operations.