Porter Properties, LLC(PPLLC) is a full service real estate firm headquartered in Auburn, Alabama. The firm is involved in management, leasing, development, and brokerage of commercial, multi-family, and single-family residential properties.

   The firm's predecessor, H.J. Porter & Associates, Inc., was founded by Howard J. Porter, Jr in 1976. At inception, the firm concentrated on commercial and light industrial development, local brokerage and property management. In late 2000 the firm's focus was expanded to include development, acquisition, and management of multi-family properties, development of climate-controlled self-storage properties, and leasing/management of local retail properties. In 2004 the company moved into the single-family sales market, concentrating on development and sales of local condominium projects.

Condominium Sales

   The company’s focus with regard to condominiums is the marketing and sales of two condominium projects in which the principals of PPLLC are involved along with resales of other local units.

   In August of 2004, principals of PPLLC purchased a two year old, 56-unit apartment project in Auburn and converted the units for condominium use (The Condos @ Millcreek). The project was basically sold out by June of 2005 and the company is now handling resales.

   In early 2005 the company signed a listing agreement with a 3rd party developer to market and sell 84 units of an existing 184-unit apartment project that is being converted for condominium use. The condominium conversion actually occurred in May, 2005 with only 25 being made available for August 2005 occupancy. This project is sold out and the company is handling some resales.

   In May, 2005 the principals of PPLLC acquired Magnolia Plaza, a 5-story, 88,000 +/- square foot building in downtown Auburn. The building contains two floors of commercial space and three floors of apartments. The entire building is in the process of being converted for condominium use. The three floors of apartments (42 units) are being renovated for luxury condominium use. To date approximately 70% of these units have been sold. As of this date (July 2007) construction is complete and the project is roughly 75% sold out.

   In May, 2006 principals of PPLLC acquired Sweetwater Apartments and converted the property into condominiums (Longleaf Villas Condominiums). The units will appeal to first-time homebuyers as well as students and investors in the local market. At present the project is around 60% sold out.

Multi-Family

   At present, Porter Properties has 909 units under management . Those properties are located in Auburn, Troy, Anniston, and Jacksonville, Alabama. Over the last 6 years, the company has successfully developed a 214-unit, non-student apartment community in Auburn as well as overseeing the successful redevelopment of 343 units in Birmingham, 84 units in Troy and 132 units in Jacksonville, Alabama. The company also manages 11 Homeowner’s associations.

Retail

   In May 2003, the company completed the development of a 66,549 square foot Food World anchored shopping center in Millbrook, Alabama and subsequently sold the property. Principals of the company maintain an ownership position in a 72,500 square feet center in Jacksonville, Alabama. The company also provides third-party management/leasing of a grocery-anchored center (62,510 square feet) and two local strip centers (75,203 square feet in aggregate) in Auburn, Alabama. There are no immediate plans for future shopping center development; however, acquisition of management contracts and leasing opportunities in the local market are ongoing.

Self Storage

   Principals of the company have recently completed development of two, climate-controlled self-storage facilities. During the 1st quarter of 2002, a redevelopment of an existing building materials warehouse in Montgomery, Alabama was completed. The facility contains 35,235 square feet and 335 units. The facility has reached stabilization in 2004 and development of phase II was started at that time and has recently been completed. It contains 21,593 square feet and 144 units. In October 2003 the principals completed development of a 59,703 square feet, 505 unit climate-controlled facility in Auburn. A third party firm is handling day-to-day management of these two properties.