The Birmingham age-herald., 1912-04-07
Peerless Corner Is Sold to K. H. Baugh by Burnett
 for $145, 1000
S35.OOO GAIN MADE IN LESS THAN A YEAR
Burnett Sells the Property to Baugh, Then Turns Around and Leases It for Period
 of Ten Years

At price nearly twice as great as was ever paid in this city for business dis trict property, R. H. Baugh of the Bir- mingham Arms company yesterday pur- chased the R. D. Burnett Cigar company building. corner Second avenue and Nine teenth street. commonly known as the Peerless corner.
 The actual price paid for the property was $145,o00, which equals $5S00 per front foot for the property in question. The site has now upon it a four story bricl building used for a picture show. ano faces 25 feet on Second avenue and runs back only 1o0 feet north.
 The deal for the Peerless corner has been pending several days and was only closed yesterday afternoon by A. A. Gambill oi A. A. Gambil & Co.
 In some respects the changes of owner ship of the Peerless corner have record entirely individual in Birmingham real estate history. The property has been sold twice in less than 10 months. MT Gambil handled both sales, the first be- ing from the Peoples Savings Bank and Trust company to the K. D. Burnett Cigar company for sl1o,000, which equalled $iioc per front foot for the land. It has in- creased from that figure to $5s00 per front foot in less than one year The first sale also created a record price for Brming- ham business property, as $4i00 per front foot was the highest mark ever attained in local real estate values. The price at which MT. Baugh secured the property is nearly twice as much as the biggest price ever paid for local dirt
 It was announced shortly after the dea had been closed that MT. Baugh had leased the building to MT. Burnett for 1t years, during which time it is believed that some extensive improvements will be arranged for the property. However, for the time being it will continue 10 be used as a picture show.
 The sale of the Peerless corner is the most recent of series of interesting real estate and development transactions here which go 10 show that Birmingham per haps never before faced such a substan- tlal business situation. In speaking of the Peerless deal MT. Gambll, who has handled that building twice said yester- day:
 "The fact that men with money like Mir Bangh are seeking first rate invest ments indicates to my mind that there is an unusual feeling of optimism here. As a matter of course there are, almost all the time, spectators who will buy unim- proved property to sell next week The most substantial proposition to my mind is that moneyed men feel so good over the local outlook that they are putting money in property for Keeps. believing that the future holds out bright things for Birmingham
 "As far as I can recall no real estate sale has ever been made here for any such price as the Peerless brought. The sale was only perfected after some eau tous opinions had been passed upon the transaction and they were all to the ef- feet that it was a good trade for the ln- vestor and all concerned"
 The Peerless corner is perhaps as well known as any building in Birmingham. It is situated on the northeast corner of Second avenue and Nineteenth street and is directly opposite the Florence hotel, Ii was in the old days used for saloon and the name Peerless was derived from that service