Photo | Dale Liesch
The Mobile Press-Register building at the corner of Water and Beauregard streets has a new owner and soon-to-be new tenant.
Adams Street Property LLC announced the purchase last Friday afternoon, which was facilitated by 24/7 Development Partners of Alabama. Advance Local Media LLC, the parent company of the Mobile Press-Register, was the seller.
Gulf Distributing announced it would lease a portion of the building, which includes 75,000 square feet of office space and 125,000 square feet of warehouse space. Gulf Distributing will take occupancy of the building once Advance vacates the property. The move is expected in 2023.
“We are very excited to be moving our corporate headquarters, as well as our Mobile area operations to this beautiful building in Downtown Mobile,” Gulf Distributing Vice President Louis Maisel said in a statement. “This relocation to downtown will be good for our city and good for Gulf.”
The building will be renovated and additional space will be made ready to lease.
Attempts to reach Advance Local Media for comment were unsuccessful and it is not immediately clear what will become of its printing operation or press.
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