Real Estate Roundup

According toAL.com, a Birmingham investment group paid $15 million for the newly opened Mirabella Apartment complex at 1910 East 1st Street in Gulf Shores, according to Frank Malone and Troy Wilson of Bellator Real Estate & Development, who represented the buyers. The 96-unit gated complex is one-third rented after opening three weeks ago, according to Stacey Ryals of Ryals Realty, who represented the sellers. The owners of Wolf Bay Lodge restaurant in Foley paid $3.9 million for the former Fin & Fork restaurant building at 24131 Perdido Beach Boulevard, in Orange Beach, according to Frank Malone of Bellator. The new restaurant was sold by local businessman Ken Wall. The new Wolf Bay Lodge location next to Romar Lakes condominiums is scheduled to open before summer, while the Wolf Bay Lodge on Miflin Road in Foley will continue to operate at that location, Malone added.

In Daphne, a local investor paid $625,000 for approximately 5 acres on County Road 64 just east of Highway 181. Their plans are to develop it for commercial use in the future, according to Renee Beasley of Herrington Realty, who handled the transaction. In Fairhope, local investors paid $226,850 for 1.15 acres at the northeast corner of Greeno and Manley roads, according to Sharon Wright and Tracy Womack of White-Spunner Realty, who represented the seller. Garrett Cox of B4 Properties worked for the buyer, who has no immediate plans for the property. In Theodore, an out-of-town buyer paid $560,000 for the former Chevron station at 5575 U.S. 90 and plans to redevelop the site, according to Kenny Nichols of Vallas Realty, who represented the seller. Vicki Tyler of Paces Commercial Real Estate worked for the buyer. In Mobile, on Halls Mill Road at Lee’s Lane, investors paid $115,000 for 4.39 acres, according to Robert Cook of Vallas Realty, who handled the transaction.