Author: Ron Sivak

Threaded Fasteners expands into South Florida

Tampa-based Bolt & Nut Inc., a manufacturer and distributor of fasteners founded 40 years ago by entrepreneur Bob Cornett, was recently acquired by Mobile-headquartered Threaded Fasteners Inc. (TFI), according to a news release. “Threaded Fasteners Inc. is joining forces with the Bolt & Nut sales and manufacturing teams to create an even more dynamic platform to serve commercial and industrial clients in Florida and the Southeastern United States,” TFI said in a prepared statement. Now 78, Cornett will continue to own and operate Tampa-based Hurri-bolt Inc., a manufacturer of hurricane bolts, as a separate company. In 2013 TFI initially...

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Mobile Office Market Survey shows positive trends

Stirling Properties recently released its Mobile Office Market Survey report covering business occupancy rates in the downtown Mobile Central Business District (CBD) as well as West Mobile. According to a news release, one of the largest acquisitions involved the Merchants Plaza redevelopment by Heritage Land & Development of Memphis. The $30 million improvement project will upgrade an existing 80,000-square-foot office building to Class A office space, with an additional 26,000 square feet of commercial/retail/restaurant use and 82 upscale apartments/lofts. Additional notable activity included the sale of the Wells Fargo Bank Building — the historic Waterman Building — to an...

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Port Authority, APM announce $49.5 million expansion

The Alabama State Port Authority and APM Terminals boards of directors in separate actions have approved a $49.5 million expansion of the container facility at the Port of Mobile. In a news release, the Port Authority and APM Terminals announced they jointly will deliver a Phase 3 expansion that includes a dock extension and an additional 20 acres of improved yard to maintain excess capacity to accommodate new business opportunities.  When completed, the project will accommodate an annual throughput capacity of 650,000 TEUs (twenty-foot equivalent units). TEU is a standard shipping container measurement length used by the shipping industry...

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Baldwin County real estate predictions

Matt White, president of White-Spunner Realty, recently made a few predictions regarding commercial real estate growth and office space demand in Baldwin County moving into 2018 and beyond.  In a news release, White covered the retail and industrial sectors and dished out his big-picture perspective on one of the fastest-growing counties in the country. “With a greater demand for more residential lots on the Alabama Gulf Coast and Florida Panhandle, it stands to reason there will be more retail space needed with more rooftops in Baldwin County on Mobile’s Eastern Shore,” White said. “Smaller grocery-anchored centers will continue to...

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10 new downtown Mobile residential projects in play

According to the Mobile Area Chamber of Commerce 2017 State of the Economy report covering downtown development, over the past 12 months 10 new multifamily housing sites are in the planning phase, have broken ground and/or now available for lease in the downtown Mobile area. As these sites open, expectations are that the properties will create a surge in demand for new services downtown, essentially opening a spigot, with higher-volume, steady streams of patron foot traffic for new and existing businesses in that area. According to the study, the 2016 downtown Mobile office submarket remained stable with 1.9 million...

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Highlights from the Mobile Area Chamber of Commerce’s 2018 business outlook

While “irrational exuberance” may not quite describe the Mobile Chamber’s tone as expressed during its recent 2017 State of the Economy event at the Battle House downtown, it’s fair to say the data-driven results from a recent survey of 136 key local executives indicated resounding optimism regarding business prospects moving into the new year. That’s not surprising considering the metro area seemed to be virtually awash in positive business news every few months this year. Results, reflecting good optics locally, helped to generate a very bullish attitude moving into 2018 — especially when compared to the overall economic outlook...

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Cigarclub.com celebrates 1-year anniversary

According to CEO and co-founder Jeff Zeiders, Cigarclub.com is celebrating its one-year anniversary this month. The e-commerce startup is in the process of establishing a national brand and has experienced exponential growth in its relatively short existence. The small business launched Dec. 14, 2016, by Zeiders and Chris Yokley, CTO and co-founder. Originally from Baltimore and a graduate of Johns Hopkins University, Zeiders relocated to Mobile in 2015 and came up with the idea for Cigarclub.com on the fly at an August 2016 Startup Weekend event where he also met Yokley. The concept placed third at the competition. In April, the...

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Midtown Publix site approaching full occupancy

According to Amber Hightower Dedeaux of Vallas Realty, the Midtown Publix Shopping Center site currently under construction near the corner of Old Shell Road and North Florida Street has morphed into a bustling new business cynosure rapidly approaching full occupancy prior to its projected first quarter 2018 debut. New tenants include: Rock N Roll Sushi, which has leased 2,250 square feet of eatery space in the B building fronting Old Shell Road. Local franchise owner Chip Burr has four other locations in Baton Rouge, Pensacola and Foley but this will be his inaugural site in Mobile. It will be...

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