Investment Overview

Marcus & Millichap is pleased to present to market available for sale the Bel Air Office Tower – a 10-story class B office tower situated along Airport Blvd, consisting of approximately 100,122 square feet. The building is home to a vast mix of professional, medical, and government tenants. The offering provides a unique opportunity for investors as the property includes a wide variety of availability and usage to new and existing tenants. Through continuous upkeep, and solid submarket conditions, the property has proven to be an attractive destination for a diverse tenant mix. Market: Bel Air Office Tower is located in the Mobile Metropolitan Statistical Area (MSA), one of Alabama’s most dynamic regions, featuring a diverse economy driven by shipbuilding, port activity, and tourism. Mobile boasts a growing population exceeding 410,000 residents in the metro area, a thriving business climate, and unique cultural offerings. The city serves as a key hub for the labor force and commerce industry along the Gulf Coast, supported by the presence of the Port of Mobile, one of the fastest-growing seaports in the U.S handling over 64 million tons of cargo annually. A $366 million expansion of the Port of Mobile is underway, increasing container capacity and boosting trade. As the port expansion takes place, many new jobs will be created in the area, further boosting the Mobile office market. Location: The Bel Air Office Tower is strategically located at 851 S I-65 Service Rd in Mobile Alabama, offering excellent accessibility to Airport Blvd and key transportation routes including I-90. Just a 19- minute drive from Mobile Regional Airport, the property is surrounded by restaurants, retail outlets, and essential services making it a prime location for a wide variety of professional tenants. The property also benefits from it’s proximity to the city’s cultural and recreational landmarks, enhancing it’s appeal to businesses and employers. The Downtown Mobile office market is very well occupied with just a 3% vacancy rate for office product, which is leading users to rent spaces in this property and near this submarket. Stable Current Tenant Mix: Bel Air Office Tower is sitting at just over 88% occupancy with a strong variety of tenants, due to nature and location of the building. With incredibly maintained office space, many businesses have been attracted to the tower. Containing a healthy mix of professional, medical, and government tenants, The Bel Air Office Tower is one of the most respected and highest performing assets in the market, offering excellent investment stability and upside for years to come. Why Bel Air Tower? With an excellent rent roll that contains clear upside and premier tenant mix, The Bel Air Office Tower is an outstanding investment opportunity for investors seeking a stable return with the opportunity to grow rents and fill vacancies. Across numerous long-standing tenants, as well as recently executed new tenants, the tower depicts consistent activity and currently operates at rates well within as well as below the market standard. Providing a fantastic investment opportunity for growth and investment upside. Property Features: Bel Air Office Tower is a rare opportunity that includes a mixture of spaces for various tenants over the tenant stories that the building has to offer. With the building located along Airport Blvd, tenants and visitors can easily navigate through the tower to their destination. The property is situated on over 4.3 acres and features a plethora of parking for each respective tenant. Activity and demand in the park have remained constant.