Inverness Central
Inverness Central is a four-building office campus located on the north shore of Lake Heather, on the south side of Inverness Center Parkway in the Inverness Center development off of U.S. Highway 280 in Shelby County.
The Hertz Investment Group purchased the complex, along with the Shipt Tower in Downtown Birmingham and 20th Place South in Homewood in 2015 as part of the multi-state "HPT Sunbelt Portfolio" which was backed by a $146.7 million loan from Wells Fargo. In February 2022 the portfolio's remaining mortgage debts were considered "at risk", and were transferred to "special servicing" by Rialto Capital of Miami, Florida to protect the loans' value for investors. In 2024 Wells Fargo accused Hertz of defaulting on its loan by failing to fund building operations, forcing the bank to pay Alabama Power Company to avoid losing electrical service. the portfolio entered into receivership, under the administration of Riveron of Dallas, Texas. Cushman & Wakefield / EGS Commercial Real Estate were engaged to lease and manage the properties.
Buildings
- 10 Inverness Center (6-story, 134,122 gross square feet, 128,501 square feet leasable area)
- 22 Inverness Center (6-story, 131,562 gross square feet, 126,044 square feet leasable area)
- 31 Inverness Center (6-story, 97,303 gross square feet, 93,166 square feet leasable area)
- 104 Inverness Center (6-story, 112,908 gross square feet, 108,142 square feet leasable area)
References
- Techo, Erica (June 10, 2015) "Hertz Investment Group purchases multiple Birmingham properties." 280 Living
- Anderson, Jon (November 28, 2022) "Creating tech hot spots: Hoover hopes to transform Meadow Brook, Inverness office parks into mixed-use innovation centers." Hoover Sun
- Stettheimer, Samuel (June 26, 2024) "Portfolio holding Birmingham's tallest tower enters receivership amid revenue, occupancy slumps." Birmingham Business Journal