August 27, 2013 – Asset Spotlight

Posted on August 22, 2013 at 5:30 pm

The Summit Birmingham is the flagship development in the Bayer Properties portfolio, embodying the goal of creating a gathering place where people can shop, live, work and play in an enjoyable environment. This shopping destination draws visitors from across the region with its elegant outdoor setting, fine dining, premium office space and high demand mix of retailers.

The Summit Birmingham has been meeting the needs of the market since it’s inception in 1997, and to this day continues to do so.  Late 2013 retailers to open at The Summit include, Kate Spade, Madewell, C Wonder and Paper Source; all are first to the state.

Ideally located at the crossroads of U.S. 280 and I-459, approximately 156,000 vehicles a day travel past The Summit Birmingham. The Summit rests squarely in the center of a robust residential, office and retail corridor in Birmingham where home prices and incomes have continued to increase. This includes Mountain Brook, which is ranked as one of the top-earning towns, according to Money Magazine. Daytime Activity is a market in itself with 80% white-collar employment inside 10 minutes, and a daytime population of more than 470,000 inside 20 minutes of The Summit. New office space at The Summit is occupied by more than 100 employees. The growth in average household income in the primary trade area is projected at almost 20%.

Birmingham is a city alive with an estimated 4.4 million tourists who visit the Magic City annually. Named by NBC’s Today show as a place to visit in 2013, Birmingham has had an impressive $1.4 billion poured into the local economy by visitors. Of that amount, 71% was spent on food, shopping, recreation and entertainment. Birmingham is home to several James Beard Award-winning restaurants and chefs. When visitors aren’t enjoying the best restaurants, they’re stopping by Railroad Park, named one of the country’s best urban spaces, or relaxing at The Westin Birmingham, the city’s newest hotel which opened in 2013.

For more information on The Summit Birmingham, please click here.