Winners were selected by a panel of more than 750 esteemed industry professionals across 128 markets at the second annual commercial real estate awards
Mobile, Ala. – The CoStar Group, the world’s leading provider of commercial real estate information and analytics, named South Alabama Logistics Park (SALP) the 2023 Commercial Development of the Year CoStar Impact Award winner in the booming Mobile, Alabama industrial market.
The CoStar Impact Awards recognize exemplary commercial real estate transactions and projects completed in 2022 that have significantly influenced neighborhoods or submarkets across 128 major international markets in the United States, Canada, and the United Kingdom.
Winners—chosen for their growth, diversification, and ability to overcome unique challenges in their particular markets—were selected from a panel of more than 750 industry professionals drawn from each respective market.
“We’re honored to receive this award, which is a testament to the growth and pro-business environment in Mobile,” said Philip Burton, President and CEO of the Burton Property Group and the developer of the South Alabama Logistics Park. “SALP is a ready-made solution to many businesses’ warehousing and distribution needs and we’re excited about what’s to come.”
“We’re grateful for the chance to recognize the accomplishments of noteworthy real estate projects and transactions across the industry,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “As the industry continues to evolve, real estate professionals have adapted and contributed immensely to the neighborhoods they serve through innovative projects and community-driven initiatives.”
SALP is a 1300-acre master planned logistics park located on Interstate 10 in Theodore. With its proximity to the Port of Mobile, Brookley Aeroplex, and interstate and rail connections, SALP is expected to become a major contributor to economic growth in the area. SALP is the largest similar development along the Gulf Coast with the potential to bring 5000 new jobs to the area by the end of the decade.
The award highlighted the relocation and expansion of two national businesses – DC Safety and Averitt Express – to the park, which state officials hailed as a sign of additional major developments to come.
At the time, Alabama Governor Kay Ivey said, “Days like today prove why Alabama’s economic comeback is leading states around the country and why the Mobile area is a major catalyst for the entire state,” Ivey said. “Companies like DC Safety and Averitt and places like the South Alabama Logistics Park are making this success possible. I’m confident that more and more companies from across the country and the world are learning that Alabamians are as good as they come and that our state is the best place to do business.”
Additional information on the award and on SALP is available online here: https://www.costar.com/article/1440982483/two-national-businesses-relocate-to-newly-developed-south-alabama-logistics-park