Southern Company Services | Regional Headquarters

Property Description

The Southern Company Services Strategy Office is comprised of two mid-rise office buildings totaling 669,438 SF (per the lease) located on approximately 19.80 acres (the “Property”). The South Building is a 410,478 SF nine-story office building and the adjacent North Building is a 258,960 SF seven-story office building . The Property is leased in its entirety to Southern Company Services, Inc. (the “Tenant”) (S&P: A-) through March 17, 2044. Established in 1963, the Tenant is the only services company for Southern Company (the “Parent”) (S&P: A-) and its various operating subsidiaries.

For over 53 years, Southern Company Services, Inc. has provided a wealth of services including, but not limited to, operations, executive and advisory services, construction and plant management, general engineering, information technology, finance, accounting and treasury, marketing, and human resources to its affiliates and the Parent. The Property will house numerous departments of the Parent.

Business Essential Attributes

As the global headquarters for Zebra, the Property houses Zebra’s executive team and approximately 1,000 employees across all corporate functions. The Property also serves as a key research and development center for Zebra. There are a variety of engineering laboratories located on portions of the second floor, third floor, fourth floor, and lower level which are used for research and development, product testing, and product repairs. The laboratories on the second, third, and fourth floors include compressed air systems and are showcased by their placement in the center of work areas visible through glass partitions. Further, the Tenant has installed a custom 16’ x 16’ anechoic chamber on the lower level which absorbs sounds and electromagnetic waves and is utilized to evaluate the performance of Zebra’s products. The Tenant also added several amenities including a Customer Solutions Center to showcase its latest products, and a state-of-the-art full-service cafeteria.

Additional Property Information

Located in a suburban location within Birmigham, in southeast Jefferson County, the Property is approximately five miles southeast of the Birmingham Central Business District. According to the U.S. Census Bureau, Birmingham is the 47th largest city in the U.S. with a population nearing 1.2 million. The Property is located along the southeast side of Colonnade Parkway at its intersection with US Highway 280 approximately one-half mile southeast of Interstate 459. This intersection is the busiest in Alabama.

Southern Company Services | Regional Headquarters

Birmingham, AL

PROPERTY AT A GLANCE

Property Profile
Property Type:
Two mid-rise office buildings
Square Footage: 669,438
Leased: 100%
Lease Expiration: March 17, 2044
Renewal Option(s):
One (1) extension term of 10 years
Rent Increase(s):
2.00% annual rent escalations (commencing 2019)
Tenant: Southern Company Services, Inc.
Parent: Southern Company
Website: www.southerncompany.com
NYSE*: SO
*Website and stock ticker symbol are for Southern Company, the Parent company of the Tenant.

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THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH THIS OFFERING. NO OFFERING IS MADE TO NEW YORK RESIDENTS EXCEPT BY A PROSPECTUS FILED WITH THE DEPARTMENT OF LAW OF THE STATE OF NEW YORK. NEITHER THE SECURITIES AND EXCHANGE COMMISSION, THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. AN INVESTMENT IN GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC. INVOLVES A HIGH DEGREE OF RISK AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OF THIS PROGRAM WILL BE ATTAINED. 

Risk Factors: An investment in Griffin Capital Essential Asset REIT II, Inc. involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained. Some of the risks associated with this offering include the following: this is a “best efforts” offering and some or all of our shares may not be sold; no public market currently exists for our shares; it may be difficult to sell your shares, and if you do, it will likely be at a substantial discount; the purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock; we must depend on our advisor to conduct our operations; we will pay substantial fees and expenses to our advisor; there are substantial conflicts of interest among us and our sponsor, advisor, dealer manager and property manager; we may use substantial debt to acquire our properties; we may fail to continue to qualify as a REIT; our share redemption program is subject to available liquidity and other significant restrictions and we may amend, suspend or terminate the share redemption program at any time; a portion of the offering proceeds may be used to redeem or repurchase our shares; and future distribution declarations are at the sole discretion of the board of directors and are not guaranteed. We may fund a portion of our distributions from offering proceeds or from borrowings in anticipation of future cash flows, some or all of which may be a return of capital. 

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Please Accept

The Griffin Capital Essential Asset REIT II, Inc. website is available for use subject to its Terms and Conditions and our Privacy Policy. Please click on the highlighted terms to review these. To review a summary of the risk factors related to an investment in the Griffin Capital Essential Asset REIT II, Inc. program  click here.

This material must be read in conjunction with the applicable prospectus in order to understand all the implications and risks of any offering of securities to which the material relates. If you have not previously reviewed a prospectus, click here. Otherwise, to proceed, agree to the Terms and Conditions and Privacy Policy of this website.

THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS SALES AND ADVERTISING LITERATURE MUST BE READ IN CONJUNCTION WITH THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PROSPECTUS MUST BE MADE AVAILABLE TO YOU IN CONNECTION WITH THIS OFFERING. NO OFFERING IS MADE TO NEW YORK RESIDENTS EXCEPT BY A PROSPECTUS FILED WITH THE DEPARTMENT OF LAW OF THE STATE OF NEW YORK. NEITHER THE SECURITIES AND EXCHANGE COMMISSION, THE ATTORNEY GENERAL OF THE STATE OF NEW YORK NOR ANY OTHER STATE SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. AN INVESTMENT IN GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC. INVOLVES A HIGH DEGREE OF RISK AND THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OF THIS PROGRAM WILL BE ATTAINED. 

Risk Factors: An investment in Griffin Capital Essential Asset REIT II, Inc. involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained. Some of the risks associated with this offering include the following: this is a “best efforts” offering and some or all of our shares may not be sold; no public market currently exists for our shares; it may be difficult to sell your shares, and if you do, it will likely be at a substantial discount; the purchase and redemption price for shares of our common stock will be based on the NAV of each class of common stock; we must depend on our advisor to conduct our operations; we will pay substantial fees and expenses to our advisor; there are substantial conflicts of interest among us and our sponsor, advisor, dealer manager and property manager; we may use substantial debt to acquire our properties; we may fail to continue to qualify as a REIT; our share redemption program is subject to available liquidity and other significant restrictions and we may amend, suspend or terminate the share redemption program at any time; a portion of the offering proceeds may be used to redeem or repurchase our shares; and future distribution declarations are at the sole discretion of the board of directors and are not guaranteed. We may fund a portion of our distributions from offering proceeds or from borrowings in anticipation of future cash flows, some or all of which may be a return of capital.