One Federal Place

CLIENT NEEDS

This building was in the planning stages with another developer when Greenstone principals were brought into the deal through a relationship with Bradley Arant’s broker and won it largely because of our willingness to listen to and accommodate the Tenant’s needs.

LOCATION
Birmingham, AL
Downtown

DETAILS
300,012 RSF / 11 stories

SOLUTION

By working with the Tenant and their architect, Greenstone principals were able to create a floorplate so efficient that the firm went from 185,000 RSF to 145,000 RSF on an apples-to-apples basis, a 22.56% savings. One Federal Place was completed by the projected date and within budget, even with the accommodations for the tenant, which included:

  • Modifying the typical window mullion systems from 5 to 4.5 feet.
  • Increasing the 2nd floor floorplate to 40,000 RSF to meet BARW’s conferencing and boardroom needs.
  • Creating lower cost basement space for BARW’s back office needs.
  • Securing 2.5/1,000 parking spaces in a city owned deck on a long term basis.

PARTNERS

MSTSD – Architect
German Investor – Equity Partner
Brasfield & Gorrie – General Contractor
Regions Bank – Construction Financing