President's Letter, Fourth Quarter 2002: by Carey P. Gilbert, II We are pleased to present you with this fourth quarter issue of InSite. This issue focuses on the apartment in the Birmingham area and the inside "pull out" section contains our market report for year end 2002. There are certainly some soft spots in the Birmingham apartment leasing market, but we believe that, long term, apartments will continue to be a very viable sector of the real estate investment market. As to investment alternatives, we continue to believe that real estate will perform well when compared to other alternatives. I was fortunate enough to have heard a nationally known economist speak in November regarding the future of the world economy and, more specifically. the US economy. I will be glad to give you a few of his statistics:
Remember, these are not my predictions but those given by a very renowned and educated expert on the economy! Let us hope that for the positive predictions for business and the economy he is correct!
Download the 2002 Industrial Market Outlook Report.
October 2002: J.H. Berry procures first significant venture into Shelby County. Office Park Partners, LLC, formed by J. H. Berry & Gilbert, Inc., and a group of private investors, purchased Business Circle Office Park for $2.6 million, a 37,000 SF development spanning 10 acres near highway 31 in Pelham. The property, located at 329-338 Business Circle, has room for potential expansion. Tenants include Nextel, the NCR Corporation, and the U.S. Department of Agriculture. The development is composed of 5, one-story "office flex" buildings. "This is our first significant venture into Shelby County. We believe Shelby County has a bright future and that this property is well positioned in the market" said, Carey Gilbert, II, President of J. H. Berry & Gilbert, Inc.
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