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30-acre industrial property on Three Mile Creek in Mobile has been sold to an out-of-town corporation for $5 million. The site, located at 1920 Bay Bridge Cutoff Road, is one of the last undeveloped industrial properties on the port and features 1,375 feet of frontage along the creek. This sale was among several notable transactions in coastal Alabama.
In Fairhope, an out-of-state investor paid over $3 million for a property where a Wawa gas station and convenience store was built at 10040 Encounter Drive. The ground lease investment spans 2.5 acres at the intersection of Alabama 181 and 104. The Encounter development encompasses 13 commercial lots on 35 acres, with Wawa opening its doors last March.
Wave Medical Equipment has leased 1,720 square feet in Daphne Square Shopping Center at 2200 U.S. 98 in Daphne. Kid to Kid, a national children's resale franchise, has also leased 4,000 square feet in Eastern Shore Plaza on Eastern Shore Boulevard in Spanish Fort.
A mixed-use development is planned for a 23-acre site near Auburn University Veterinary Specialists in Gulf Shores. The project will feature 300 multi-family units across seven four-story buildings and commercial spaces. The city of Gulf Shores is expected to approve the development's Planned Unit Development Master Plan overlay.
