Mobile Purchase, Lease Deals

Mobile Purchase, Lease Deals
Image by merrillpthomasco.com

Pratt Thomas of Merrill P. Thomas Co., Inc., represented the seller in the sale of a 1,702-ft2 building at 110 South University Boulevard in Mobile to River Bank & Trust (RB&T) for $1,060,000. The building was built in 2018 as a build-to-suit for Krystal. After occupying the building for only two years, Krystal filed for bankruptcy in January 2020 and vacated the building. The bank plans to demolish it and will construct a branch, while utilizing as much of the existing site improvements as possible. Groundbreaking is slated for January 2022. RB&T is a full-service commercial bank based in Prattville, Alabama. It was established in 2006 by a group of local business leaders who have grown its assets to exceed $1.7 billion.

Also in Mobile, John M. Delchamps of Merrill P. Thomas Co. represented the landlords in the lease of 720 Schillinger Road. This property is in front of Target, across from Walmart, Home Depot and Kohl’s. Other tenants include AT&T, AAA of Alabama, Domke Market, Hollywood Nails, Master Cleaners, Merle Norman, Smoothie King, Sushi 9 and Villa Del Rey. Formerly occupied by Baskin-Robbins, the location will again offer a variety of ice cream.

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