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In the Trenches: Mark Byers

Birmingham Business Journal - July 31, 2009
by Lauren B. Cooper

Mark Byers, a 22-year veteran of the industrial and commercial real estate industry, is executive vice president at EGS Commercial Real Estate Inc.

BBJ: Looking back to January, is Birmingham’s industrial market worse or better than you thought it would be?

Byers: In forecasting out and considering the economy, we anticipated a slower year – but it’s been slower than that. Credit markets are drying up and making tenants nervous. The good news about a recession is they always end and landlords who are able to weather the storm will regain leverage in terms of opportunities to fill buildings and increase lease terms.

BBJ: What’s your outlook for the remainder of the year in the industrial market?

Byers: About the same. So much of our market in Birmingham is driven by automotive and health care, and size and population dictate branch operations and locations.

BBJ: Has Norfolk Southern Corp.’s announcement to build a facility in McCalla caused a stir among national companies?

Byers: It certainly is significant and should bring significant activity to the southwestern market, which is the softest market in Birmingham. It’ll take a year or so after it’s built though. There have been tire-kickers as a result. What will begin to occur is likely some strategic acquisitions in land in anticipation of long-term development.

Read the full story on the Birmingham Business Journal's website.

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