HARBERT REALTY SERVICES BROKERS SALE OF HARBERT CORP’S FORMER HEADQUARTERS

Harbert Realty Services brokered the sale of the 57,000 square foot building and approximately 78 acres around the facility which was originally built as the corporate offices and campus of Harbert Corporation. The building became available with Harbert’s move to the Birmingham CBD in 2008. Though numerous groups have expressed interest, Alabama Telco Credit Union closed on the purchase of the property late last week. The 77 year old credit union, citing consistent growth, plans to move its headquarters, located on Data Drive in Hoover since 1986, to the building during the first quarter of 2012. Dean Nix, SVP with Harbert Realty Services, represented Harbert Corporation in the sale and Walter Brown of Graham & Co. represented the buyer.

About Harbert Realty Services

Harbert Realty Services is one of the largest privately held, full service commercial real estate firms in Alabama. Headquartered in Birmingham, the company offers clients expertise in a full range of commercial real estate services honed over 50 years of property ownership, development and management across the state and in Florida. Harbert Realty Services is a majority owned subsidiary of Harbert Management Corporation. Harbert Realty’s mix of experience, resources and global reach allows it to offer clients one of the most comprehensive arrays of customized services in the commercial real estate market. For more information, visit www.harbertrealty.com.

About Alabama Telco Credit Union

According to a recent press release, Alabama Telco Credit Union is a full service financial institution with branches located across Alabama and assets in excess of $550 Million Alabama Telco Credit Union serves more than 52,000 members. For more information, visit www.alatelco.org.