With the COVID-19 virus impacting the local economy in virtually every aspect of life, with daily stories of shutdowns for retailers, restaurants and virtually every other sector not considered “essential” to support the basic ebbs and flows of commerce, last week’s deluge of commercial real estate deals getting inked at a record pace was a bright spot in area news.
One of the bigger transactions turned in was by Richard Weavil, president of The Weavil Company, who reported that a local company spent around $3.5 million for an 11.17-acre section of land sold by the owners of the well-known Graf Dairy property in Midtown Mobile.
The property is situated at the southeast corner of Sage Avenue and Dauphin Street. Expectations are to develop a 70,000-square-foot medical facility on the site with a groundbreaking anticipated to happen within the next nine months.
Weavil represented the buyer in the transaction and B.T. Roberts with Roberts Brothers Commercial & Property Management worked for the sellers. Signs of work on the space may be seen as early as mid-summer, with the construction of an entrance road sometime in June.
Over 5,300 square feet of office and wholesale space has been leased at 846 Butler Drive in West Mobile by a new tenant, Elmhurst, New York-based Century Fasteners Corp. The company is a distributor of fastener and non-fastener products and services the aerospace, military, medical, manufacturing and commercial industries.
The local branch is relocating, due to growth demands, from a smaller space situated inside the Continental Motors building at the Brookley Aeroplex. Brandon Broadus with NAI Mobile represented the tenant. Pratt Thomas with Merrill P. Thomas Co. Inc. worked for the landlord.
Coastal Chiropractic is leasing some 1,500 square feet of retail space in The Outdoor Center located at 1705 State Highway 59 in Foley and plans to open in early June. The company joins Planet Fitness, Studio Bliss Hair Salon, Magnolia Dance Company, Surge Nutrition and Gulf Coast Tools in the shopping center.
The site is located across from Walmart Supercenter, and near the Tanger Outlets and OWA. Amanda Goldman with Stirling Properties handled the transaction.
A local developer has acquired around four acres of land on Moffett Road, between Western Drive and the East Interstate 65 Service Road in West Mobile, with plans to build a Bunny Bread bakery store. The retail brand is a wholly owned subsidiary of Evansville, Indiana-based Lewis Bakeries.
According to the company website, this will be the first Bunny Bread location to open in Lower Alabama. The only other location in the state is found in Huntsville. The acquisition price on the property was $405,000. Nathan Handmacher with Stirling Properties handled the transaction.
The Take 5 Oil Change building and surrounding property, located at 1307 Government St. on the corner of Michigan Avenue in Mobile, was recently sold to an investor for $434,000. Cameron Weavil with The Weavil Company handled the transaction. Take 5 Oil Change will continue to lease the site and plans to continue their drive-thru oil change operations uninterrupted.
Maryland-based Center for Vein Restoration recently opened a second location in West Mobile. The medical center has leased a 2,700-square-foot office space inside a multi-tenant office building located at 32 Tacon St.
The first site to open in the area is located at 341 N. Greeno Road in Fairhope. Brandon Broadus of NAI Mobile represented the tenant and Jeremy Milling with Milling Commercial Realty worked for the landlord.
Robert Cook with Vallas Realty has completed transaction work on the 6,750-square-foot former IHOP restaurant property, located at 30179 Eastern Shore Court in Spanish Fort and adjacent to the Eastern Shore Centre.
The space has been leased by locally owned Briquettes Steakhouse. The eatery is anticipated to open sometime in the fall of 2020. This will be the third location (and first in Baldwin County) to open for the Mobile-based business.
Janet Keene with the Bender Real Estate Group reported that some 2,000 square feet of office space located at 900 Western Drive in Mobile has been leased by the U.S. Food & Drug Administration. The federal agency is relocating from their current space located at 1110 Montlimar Drive, Suite 1075, inside the Montlimar office tower.
Cameron Weavil, vice-president of The Weavil Company, recently wrapped up the sale of the former Clean Rite industrial facility complex, located at 1335 U.S. Highway 43 in Saraland, to the Saraland City School Board of Education for $400,000. The board reportedly intends to use the facility to house a fleet of school buses and a new maintenance facility.
Some 3,000 square feet of office space located at 63 S. Royal St. inside the Riverview Office Plaza in Mobile was leased by Kent McPhail & Associates LLC. The law firm is relocating from their former office space, which was also found downtown at 126 Government St. Gavin Bender Jr. with the Bender Real Estate Group handled the transaction on behalf of the tenant.
Temple Loft and Lodge update
In an update, John Peebles with NAI Mobile reported that the six, 1,400-square-foot, tri-level Temple Loft units, located at the intersection of 558 St. Francis St. and 55 N. Warren St. in Mobile’s Central Business District, are now move-in ready. The one/one spaces have dedicated parking on the ground floor with kitchen and living spaces on the second floor and bedroom and bathroom space on the third level.
Adjacent to the townhomes are covered parking spaces available for second- and third-story apartment dwellers, which are found across the street inside the mixed-use Temple Lodge property. On the ground floor, the 2,000-square-foot commercial space, next door to the CannaBama: The CBD Store, is under serious consideration by a national architecture firm, according to Peebles.
The other adjacent, 1,200-square-foot commercial section on the lower level is currently being toured by digital artists, retailers and landscape architects, among other small businesses.
“It could be a perfect location for a creative who can use the huge interior public area and 14-foot ceilings,” Peebles said.
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