Alabama Media Group May 23 Real Estate Update

According to AL.com, the 73-room Cobblestone Hotel & Suites has opened at 2970 Koniar Way in Foley, according to Eddie Spence of Gulf Shores. Spence is a partner with Cobblestone Hotels on the estimated $10-million development. Cobblestone is based in Neenah, Wisconsin, and has 160 hotels, mostly in the Midwest. Cobblestone plans to break ground soon on a 54-unit hotel off the town square in Bay Minette, according to Spence, who is also a partner in that hotel, along with David Cahoon, Miles Reed and Cobblestone. In Mobile, an out-of-state investor paid $475,000 for 28,712 ft² of industrial space on 2.75 acres at 1701 Navco Road, according to Crawford Stitt of White-Spunner Realty, who represented the sellers. Cameron Weavil of The Weavil Co. worked for the buyers. Also in Mobile, a local investor paid $160,000 for approximately 1.3 acres at 96 East Drive, according to Chris Harle of White-Spunner Realty, who represented the seller. Shabbir Hossain of NextHome Star Real Estate worked for the buyer.