Charter Landing Inc. paid $995,500 for Palm South Shopping Center at 3501 Gulf Shores Parkway in Gulf Shores, according to Ken Montgomery, owner of Charter, which keeps offices at The Wharf in Orange Beach. The 25,671-square-foot center, built in 2000, had three spaces available for lease.
Theodore Land
A local car-lot owner paid $450,000 for seven lots — about 5.28 acres — in Plantation Commercial Park on U.S. 90 in Theodore, according to David Cooper of the Prudential Cooper & Co. commercial division.
A Downtown Tower to Auction
A 75,000-square-foot office building at 951 Government St. was set to be offered at auction June 4-6 by Auction.com Commercial, according to Vallas Realty, with bidding to start at $150,000. The nine-story building sat on 2.35 acres and carried a long-term rooftop lease with T-Mobile. The city had recently approved plans to convert the building into 53 lofts and apartment units, and John Vallas fielded inquiries from prospective bidders.
Retail and Office Growth
Construction was under way on a 42,000-square-foot Walmart Neighborhood Market on Airport Boulevard next to Providence Hospital in west Mobile, on property Walmart had purchased several years earlier adjacent to the Providence Plaza Shopping Center.
On the Eastern Shore, Polysurveying and Engineering opened an office at 28810 U.S. 98 in Daphne, adding to its existing Mobile operation. Together, the week’s transactions reflected steady activity across the Mobile Bay market, from beach-town retail centers to the continuing effort to repurpose aging downtown office space for residential use.