Multi-Million Dollar Sales Happen
A local investor paid $3.28 million for the Palm Plaza Mall at 1115 N. McKenzie St., Foley, according to Andrew Dickman of Stirling Properties, who represented the seller. Palm Plaza is fully leased with tenants including Dollar General, Subway and H&R Block. The three center buildings and an outdoor plot total approximately 50,000 square feet of space.
The Title Building at 164 St. Francis St. in downtown Mobile was purchased by a group of local investors for $1,344,500, according to John D. Peebles and William Peebles of CRE Mobile, who represented the seller . Inge & Associates worked for the buyers. The local landmark is opposite Place Bienville and adjacent to the Athelstan club. The buyers plan to renovate the 17,000 square foot building for upscale mixed use.
Arena Fire Protection paid $790,000 for a 15,000-square-foot, 2.69-acre office warehouse at 10023 Lifeline Court in Mobile, according to Mike Reid of Merrill P. Thomas Co., who handled the transaction. Arena Fire Protection also purchased two contiguous lots to bring the total area to 5.15 acres. The company provides fire sprinklers, alarms, fire extinguishers and CCTV systems for commercial, residential and industrial customers.
Coding Ninjas Pensacola has leased 2,500 square feet of space in the Plaza North Mall at 3 W. Nine Mile Road in Pensacola, Fla., and plans to open in November, according to Jason Scott of Stirling Properties, who represented the landlord. . Coding Ninjas Pensacola is a franchisee of Code Ninjas, the world’s largest and fastest growing children’s coding franchise.
Culver’s Restaurant is seeking planning approval to construct a 4,500 square foot building on the northwest corner of Wharf Parkway East and Canal Road at The Wharf in Orange Beach, according to the planning commission. Culver’s is a fast food chain specializing in frozen custard and its signature ButterBurgers. Culver’s also has a location on Ala. 59 at Foley.
Developers are looking to modify the planned unit development of Mariner Lakes, to build Bel Air towers, with two multi-family buildings and a total of 152 units at 3299 Loop Road in Orange Beach, just west of Fairfield Inn & Suites , according to the city planning commission. The current plan foresees three buildings with 375 units.