August 2 Real Estate Update

According to AL.com, an investor paid $1.548 million for a 95-acre tract off College Avenue in Robertsdale, according to Renee Beasley of Herrington Realty, who handled the transaction. The property has frontage on both College Avenue and Wilters Street. A group of local investors paid $920,000 for a two-story, 7,536-ft² building at 803 Government Street, in Mobile, according to court records. Josh W. Hall and Pete Riehm of CRE Mobile represented the seller of the fully leased building. Jay Roberds of CRE Mobile worked for the buyers. Wellness Realty, LLC (The Wellness Collective) paid $375,000 for a 14,000-ft² office building at 960 Downtowner Boulevard in Mobile, according to court records. Leigh Rendfrey and Jay Roberds of CRE Mobile represented the seller. The Wellness Collective is a mental health center for children, adolescents, adults, couples and families. Also, watch for Summerdance to be developed on 24 acres off Waterway East Boulevard in Gulf Shores, according to city planning. The property is on the westernmost part of the 218-acre Coastal Resort Properties Planned Unit Development. The project will include a 90-slip wet marina, a 73,000-ft² dry boat storage facility for 210 boats and a retail ship store. Access to Summerdance will be provided by the extension of Waterway East Boulevard. The 2-mi. extension will connect Highway 59 to Cotton Creek Drive.