March 4, 2019 — Newmark Knight Frank (NKF) announced today that it brokered a renewal lease totaling 104,514 square feet for the Birmingham office of law firm Burr & Forman LLP at the Wells Fargo Tower in downtown Birmingham. The deal marks one of the largest transactions completed in Birmingham over the last year, and represents the law firm’s long-term commitment to the downtown area.
Burr & Forman will continue to occupy the top six floors at the soon-to-be Shipt Tower, which is owned by Hertz Investment Group. Burr & Forman’s renewed lease comes at a time where the firm is experiencing major regional growth, recently acquiring the Carolinas-based McNair law firm. As of January 1st, 2019, the firm now has 19 offices in eight states with a total of 360 attorneys across the region.
Burr & Forman has long been and will continue to be the largest tenant in the building. Located at 420 20th Street North, the 514,893-square-foot Class A building was built in 1986 and is one of two Class A properties in the city. The building is currently 87 percent occupied, and is in close proximity to several dining and entertainment destinations.
“This building has provided an ideal environment for fostering healthy growth and long-term stability in the heart of Birmingham, and we are pleased to continue our partnership with Hertz Investment Group,” said Ed Christian, chief executive officer and firm managing partner at Burr & Forman. “Newmark Knight Frank’s professionalism and efficiency made this a seamless transaction for both parties, and we look forward to the next chapter of our firm as we continue to expand across the Southeast.”
NKF Vice Chairman Gregory Katz and Executive Managing Director Monty Harris represented the tenant. Colliers International represented the landlord.
“Burr & Forman’s decision to renew a long-term lease with Hertz Investment Group at Shipt Tower is the latest evidence of continued growth and investment happening in downtown Birmingham,” said Katz. “The emerging talent hub that is forming in the CBD provides the ideal setting for employers across the region to grow and expand. Newmark Knight Frank is pleased to help finalize this lease agreement, which provides a significant win for Birmingham’s business community.”
The transaction reflects a strong outlook by investors for Birmingham’s metropolitan area. In 2017, 40 companies announced more than 3,000 jobs and $500 million in capital investment in the region’s primary business sectors.