A prime property only blocks from Railroad Park sold in a recent deal ahead of a yet-to-be named redevelopment.
The Forbes Distributing Co. building at 1416 4th Ave. S. sold for $1.8 million. Casey Howard of Harbert Realty Services represented Forbes in the transaction, while James Proctor of Realty Link represented the company in the purchase.
“Realty Link has purchased the former Forbes Distributing Co. Inc. property for redevelopment and our team will be announcing the tenant(s) soon,” Proctor said.
The building is approximately 12,000 square feet and sits in a highly visible and quickly transforming area of the city. It is located in close proximity to Regions Field, new apartment developments Flats on 4th and Venue at the Ballpark, and the UAB campus.
According to marketing materials from HRS, the former Forbes property is zoned M1 for a variety of uses, including multifamily, condo, retail, restaurant and more.
Howard also represented the Forbes family in the relocation of its business to 233 Oxmoor Circle in Homewood, where it will have a larger showroom and warehouse space. The family began Forbes Distributing Co. in 1945 when they began selling repair parts to radio repair shops and later television repair shops, and it has grown into a business that sells a wide range of tools, wire and cable, computer network parts and HDTV cabling and accessories. The company is led by Tom and Will Forbes.
“Harbert is thrilled to have been able to help the Forbes family as they grow in to a larger facility that better suits their needs as they continue to expand, while also selling their downtown location for future development,” Howard said. “Businesses like Forbes are the lifeblood of our city and whenever we get the opportunity to help them grow, expand or solve problems from the real estate side, we are honored to jump in and take on that challenge. The Parkside District has had a ton of incredible development activity over the course of the past couple years and we, among many others, look forward to the new development that Realty Link plans for the site.”
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