City Management Company Industrial Real Estate Update

An out-of-state industrial developer has purchased 13 acres in the Cypress Business Park in Mobile for a speculative logistics project. The site was aggregated with one 9.1- and one 3.9-acre parcel. The total price was $1.3 million ($2.13 per gross ft²). The location is within the Rangeline/I-10 interchange and offers superior access to the container terminal. The transaction was facilitated by John Peebles and William Peebles of City Management Co.