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MONTGOMERY, AL (WSFA) -
A turn of the century building located in a prime location of downtown Montgomery is about to go on the market. The building, located at 152 Coosa Street, is currently owned and used by Bishop-Parker Furniture Company.
Bishop-Parker has awarded a marketing assignment to professional services and investment management firm Jones Lang LaSalle which will look for a buyer interested in the 80,000 square foot building.
Sitting in the Central Business District of downtown Montgomery, the four-story, 106-year-old building is in a prime location directly across from Riverwalk Stadium and within walking distance to the Renaissance Montgomery Hotel and Convention Center, the Alley Entertainment District, the Riverwalk Amphitheatre and City Hall.
The property is described as "one of the crown jewels of the Riverfront" and is said to be in "excellent condition".
"We are extremely honored to be chosen as the exclusive agents for the disposition of the Bishop-Parker Building," said Carter Burwell, JLL Vice President. "The Bishop-Parker families have watched downtown grow and develop around them over the past decade and have decided the building now has a higher and better use."
Burwell said Bishop-Parker engaged JLL to market the property for sale in order to see the building revitalized into a new, mixed-use project that will benefit the area and compliment other developments along the riverfront."
Bishop-Parker will continue its warehouse furniture operations in a new location once the building is sold. THe furniture company's main location at McGhee Road will not be affected.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47 billion of real estate assets under management. For further information, visit www.jll.com.