Ryan Cos. sells Lakeshore corridor Amazon facility for $37M
November 11, 2021
As written in the Birmingham Business Journal:
"Minneapolis-based developer Ryan Cos. US Inc. has sold a Bessemer property for $37 million.
The property, located across two contiguous lots at 4205 Lakeshore Parkway and 1395 Highway 150, was the site of a development to build a new Amazon facility. Amazon started a 12-year lease at the site on Sept. 29, according to public records.
Ryan Cos. originally purchased the site for $2.95 million with plans for a 112,000-square-foot facility, the Birmingham Business Journal previously reported. The buyer was an entity called CPUS Bessemer LP. Information on the buyer was not immediately available.
Amazon opened its first fulfillment center in metro Birmingham in 2020 – an 855,000-square-foot facility at 975 Powder Plant Road in Bessemer. That center created 1,500 jobs. The online retail giant is also planning to develop a last-mile delivery center at the former Century Plaza shopping center.
On top of the jobs associated with its expansions in the area, Amazon is planning to hire 500 more people on a full-time basis before the end of the year. It’s also looking to add about 1,800 seasonal jobs.
The deal is near a similar logistics facility sale that took place just to the north. Monmouth Real Estate Investment Corp. purchased a $30.18 million FedEx Ground facility located at 3801 Lakeshore Parkway from developer Jones Development after the facility opened in October. A different Jones Development affiliate recently sold another FedEx facility in the Birmingham area for $12.8 million. The buyer in that deal was San Diego-based publicly traded real estate investment
trust Realty Income Corp.
Neither Ryan Cos. nor Amazon responded for requests for comment on this story."