Alabama-based brand Golden Flake has sold its original five-building factory complex in Birmingham. The site, which first became operational in 1958, features a 283,310 square-foot warehouse building and an additional 36.7 acres.
A Chattanooga investment group, 2nd in Building Materials Inc., reportedly paid $6 million for the acquisition. The group said that it expects to spend $3 to 4 million on improvements to upgrade the space, with plans to officially move in during the second quarter of 2025.
In partnership with 2nd in Building Materials Inc., Southeastern Salvage Company, will be the new tenant of the property.
“We are excited about the opportunity to revitalize and occupy a building that has played such a big role in Birmingham and Alabama’s history,” said Scott Leroy, Vice President of Southeastern Salvage Company. “This is an acquisition based on years of positive growth in one of the South’s fastest growing markets.”
“To have the demand and market to feel confident in more than doubling your retail space to 135,000 square-feet speaks volumes about the Birmingham market.”
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“When your current LL partners with you to help you move to meet that demand, that says a lot about their belief and understanding of the Birmingham market and its potential,” continued Leroy.
“We see the growth all around the Golden Flake site and are looking forward to the redevelopment and growth of the area.”
The move to the Golden Flake property will allow Southeastern Salvage to double the size of its current store, in addition to a 66,000 square-foot outdoor garden and patio center.
Southeastern Salvage has signed a lease for 135,00 square feet to anchor the redevelopment project. IronVest Partners has served as the land lord of the Southeastern Salvage store in Irondale for the past twenty years.
Tammy Cohen and Robert Bruner of CCR Architecture & Interiors are the architects of record for the project.
Leasing and sales of approximately 145,310 square feet of warehouse/retail space and land will be handled by Robert Crook and Bart Moore of IronVest Partners.
Utz Quality Foods Inc. purchased Golden Enterprises, the maker of Golden Flake, in 2016 for $141 million.
Austen Shipley is a staff writer for Yellowhammer News.
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