Shannon Waltchack ready to start construction on $5 million Stockyard @ Railroad Park
By Michael Tomberlin | AL.com
BIRMINGHAM, Alabama – One of the companies that invested early on into what is now the Parkside District around the $19 million Birmingham Railroad Park is preparing to boost its stake by up to $5 million with the Stockyard @ Railroad Park development.
Shannon Waltchack’s current home in the $4 million Railroad Square project helped kick off commercial development around the Railroad Park two years ago.
Now it is ready to start construction on Stockyard @ Railroad Park, Birmingham’s first crowdsourced development that sought public input for its name, logo and design.
Current voting seeks the public input on which restaurant it would like to see in the project with the options being Wintzell’s Oyster House, Saw’s BBQ, Kaiten-Zushi (Conveyor-Belt Sushi) or the Old Spaghetti Factory. Shannon Waltchack officials have said, however, there are no guarantees any one of those choices will end up in the space.
The development includes the renovation of a two-story warehouse and surrounding buildings into office and restaurant space, second-floor apartments and a rooftop deck overlooking center field of the $64 million Regions Field baseball park.
Derek Waltchack of Shannon Waltchack represented the new owners of the properties on Second Avenue South between 16th and 17th Streets while Martha Jean Shaw of RealtySouth represented the sellers.
Waltchack said demolition is complete and construction is getting ready to start. The first leases are also close to being signed, he said.
Shannon Waltchack has also been busy with a number of other deals, to include:
The new Taco Bell coming to Birmingham’s Southside is said to be a new prototype for the restaurant chain. (courtesy of Tacala LLC)
A build-to-suit project for Tacala LLC that will see the construction of a 2,500-square-foot, first-ever prototype Taco Bell restaurant built on the corner of Seventh Avenue South and 22nd Street. The seller was represented by Charles Robinson of Red Rock Realty Group and the buyer was represented by Derek Waltchack of Shannon Waltchack. See and read more about the project.
David Spencer of Shannon Waltchack represented the landlord in leasing 2,840 square feet to Eastern Nephrology at St Vincent’s East. Spencer also representedPrideStaff in its 1,422-square-foot lease at Lorna Brook Village, which was represented by Wade Stubbs of Lumpkin Development. Spencer also represented Horizon Signal Technologies Inc. in its 1,800-square-foot lease at Oxmoor Center, which was represented by Nick Nesmith of Engel Realty.
Spencer teamed with Len Shannon of Shannon Waltchack to represent Magic City Title Inc. in renewing its 7,986-square-foot lease at Grandview I office building. John Hennessy of Colliers Alabama represented the landlord.
Andrew Patterson of Shannon Waltchack represented Pell City Plaza Partners LLC, an investment group led by Shannon Waltchack, in its purchase of a 105,290-square-foot retail center in the heart of Pell City. America’s Thrift, Farmer’s Home Furniture and Aaron’s Rents are in the center. The seller was represented by Bill McDavid, Michael Randman, and Anne Michaels of Southpace Properties.
Tim Blair of Shannon Waltchack represented 80 Technacenter LLC, an investor group led by Shannon Waltchack, in buying a 31,008-square-foot office building in Montgomery off I?85. Regions Bank is the lead tenant and the seller was represented by Jerome Moore of Coldwell Banker Commercial Moore Company Realty. The purchase is Shannon Waltchack’s first foray into the Montgomery market and it is planning an extensive renovation this year.
Shannon Waltchack partnered with a local business leader to buy a 24,235-square-foot retail center in Centre across from Walmart. It was purchased out of foreclosure in a deal in which Bob Nesbitt at Engel Realty represented the seller and Rich Campbell of Veritas Commercial Real Estate represented the buyer.
Shannon Waltchack recently represented Memphis-based Royal Furniture in its lease of two large spaces as it expands into the Birmingham area. Royal Furniture will open this summer in a 22,000-square-foot store in Trussville’sThe Promenade at Tutwiler Farm (owned by The Kroenke Group) in the former Old Navy space, and a 34,000-square-foot store in Hoover Commons in the former Books-A-Million space.
“We are pleased that we were able to close out 2013 with strategic acquisitions that expand our footprint beyond Birmingham and across the Southeast,” Andrew Patterson, principal at Shannon Waltchack, said in a statement. “Our goal is to add to our existing portfolio in 2014 by continuing to acquire performing assets in quality markets.”