Local pays big bucks for buildings in Mobile
A local restaurant chain owner paid $3 million for the buildings at 358 and 360 Dauphin St., in Mobile, and plans to open a restaurant in the vacant commercial space, according to Realtors. Pratt Thomas of Merrill P. Thomas Co., represented the seller, an international company based in Australia. John Vallas of Vallas Realty worked for the buyer. The purchase features two commercial units on the ground floor and 8 apartment units above. The historic properties are part of the Lower Dauphin Street District and were revitalized in 2015 for an estimated $3 million. The properties are across from the Cathedral Basilica of the Immaculate Conception and Cathedral Plaza. Lupercalia Art Gallery occupies the other commercial unit.
Local investors paid $730,000 for the 9,000-square-foot flex space at 1248 Montlimar Drive in Mobile, according to Chris Harle of White-Spunner Realty, who represented the buyers. Joey Betbeze of Betbeze Realty worked for the sellers. The new owners plan to lease the space which includes office, showroom and warehouse areas.
Developers are seeking final plat approval for a 50-lot single-family subdivision on the southwest side of Traditions Parkway in phase 2 of Colonial Traditions in Gulf Shores, according to the Planning Commission. The 9.51 acres is designated for single family homes and townhouses. Amenities will include a clubhouse, pool and tennis courts.
Watch for Crumbl Cookie bakery to open soon in Pelican Place at Craft Farms commercial center off Gulf Shores Parkway in Gulf Shores. And the family-owned Perfumes 4 U has leased space in Tanger Outlets off Ala. 59 in Foley. The O’Charley’s restaurant in Foley has closed.