Heritage Land & Development recently announced its first new tenant for the $30 million redevelopment project in downtown Mobile at Merchants Plaza since acquiring the property about three months ago.
Hand Arendall LLC signed a lease for three floors of the eight-story office building, located at St. Francis and Royal streets, where it will relocate its current Mobile offices from the RSA Tower. Extensive buildout is planned, and the work will begin immediately, according to Dean Nix of Harbert Realty, who represented the landlord. Dan Lovell and Eric Getty with Graham & Co. and Jeff Barnes of Stirling Properties worked for the tenant.
“Hand Arendall recently relocated its Birmingham offices to the historic Federal Reserve redevelopment in downtown Birmingham, so we felt like Merchants Plaza in Mobile could offer a similar opportunity that complements the firm’s strategic plan,” Preston Bolt, managing lawyer of Hand Arendall’s Mobile office, said. “We are excited to be a part of this downtown revitalization project, and proud to renew our commitment to downtown Mobile.”
“This project is a perfect fit for Hand Arendall’s needs. We are looking forward to having the firm in Merchants Plaza, and they are the first of many tenants headed our way,” John Glassell, principal of Heritage Land & Development, said.
Merchants Plaza will mainly offer leasing space to office and retail businesses, according to a news release. Availability on the ground floor and parking deck offers restaurant space in addition to retail. The site is classified as a Class A building property.
Allan Cameron of NAI Mobile or Dean Nix of Harbert Realty can offer more information on leasing options.
NAI Mobile is the local footprint of NAI Global, an international network of more than 400 firms globally. Harbert Realty Services represents Heritage Land & Development in many of its redevelopment projects regionally. The brokerage is one of the largest privately held, full-service commercial real estate firms in the Southeast.
Commercial real estate moves
Premier Medical Group recently opened in a newly remodeled facility, encompassing 12,600 square feet of clinic space. The upgrades more than double the former floor plan and plans are in place to offer expanded services for Baldwin County residents, according to a news release.
Premier Medical was formed in 1997 through a merger of Mobile Eye, Ear, Nose and Throat Center with Dauphin West Eye, Ear, Nose and Throat Specialists. The medical practices trace their histories back to the practice of Mobile-based Perdue & Perdue, founded in 1915.
The property was originally acquired in August 2016. White-Spunner Realty represented PMG in the original purchase of the 4.25 acres and a building at 1302 U.S. Highway 98 in Daphne. Premier currently has three locations in Mobile and one in Jackson.
• A local investment group last week closed on the sale of three lots on Old Shell Road across from the new Publix development in midtown. The site, which sold for $375,000, totals just under an acre of land.
Designated as sections 2503, 2505 and 2507, the lots will be redeveloped into a retail center and have spaces available for lease toward the end of this year. Amber Dedeaux with Vallas Realty handled the transaction and will be leasing the spaces in the new retail center.
• The owners of a 7,700-square-foot office suite situated on three acres, home to recently relocated Dr. Thomas R. Dempsey of Orthopedic Quick Care as well as Hollon Dental and Dr. Charles Demeranville dental practices, was recently listed for $1.4 million.
The tenants will remain in place. The property is in close proximity to the University of South Alabama, according to Pratt Thomas with The Merrill P. Thomas Co., who manages the listing.
• Grand Properties Josephine LLC has purchased a 23-acre parcel located on Marjon Lane in Josephine, across from Pirates Cove. The property will be subdivided into 14 large waterfront lots. Kennedy Striplin, leasing executive with Stirling Properties, brokered the sale.
• Local investors purchased 65 acres fronting Grand Bay Wilmer Road and Dawes Road in Grand Bay for $690,000, according to Allan Cameron, who brokered the transaction. The buyers are planning to develop a residential lakefront subdivision.
• John Delchamps with The Merrill P. Thomas Co. reported that the Papa Murphy’s Pizza franchise recently opened its fourth location locally, leasing a 1,632-square-foot restaurant space located at 3976 Government Blvd., inside the Skyland Shopping Center in Mobile. George Catranis of Catrinas Enterprises represented the landlord. Delchamps worked for the tenant.
• Visiting Angels is opening its first Mobile office and will occupy 703 square feet of leased space at Regency Professional Center, located at 5901 Airport Blvd., Suite 204. Jill Meeks, leasing executive with Stirling Properties, handled the transaction.
Lee joins Alabama Opportunity Scholarship Fund board
Thomas M. Lee has joined the board of directors of the Alabama Opportunity Scholarship Fund. Lee is president and CEO of Foley-based Vulcan Inc., an aluminum products manufacturer. Vulcan produces aluminum coil and sheet and is the largest highway sign manufacturer in the United States, according to a news release.
Lee just completed a three-year term on the NIST MEP National Advisory Board for small and medium manufacturers, and was a former chairman of the South Baldwin Chamber of Commerce and a past winner of the Walton M. Vines “Free Enterprise Person of the Year” award.
“I am proud to join AOSF as it strives to provide some of Alabama’s poorest children educational opportunity that they would never receive otherwise,” Lee said. “I have met many of the parents, and I can tell you we have a lot of desperate mothers and grandmothers who want their children to stay in school, succeed and not become a statistic.”
The AOSF provides nearly 2,000 low-income K-12 students access to more than 150 public and private schools that better meet their unique needs. AOSF serves nearly 600 children in Mobile and Baldwin counties, with thousands more on the waiting list. For more information, visit the AOSF website.