Real Estate Update

According to AL.com, an out-of-state investor paid $390,000 for a 4,800-ft2, multifamily building at 1108 Oak Street in Mobile, according to Andrew Dickman of Stirling Properties, who handled the transaction. In Fairhope, Atchison Home has leased 2,200 ft2 of space in PORTICO Fairhope at 561 Fairhope Avenue and plans to open next month, according to Jeff Barnes of Stirling. Barnes represented Haley Development, the property owner and developer. Lewis Golden of Hamilton & Co. worked for Atchison Home, a furniture and design studio. The first phase of PORTICO has 12,000 ft2 of commercial space on two floors fronting Fairhope Avenue and is fully leased. Construction is underway on 3,700 ft2 of office space and 12 upscale residential cottages. Additionally, two 5,000-ft2 multi-tenant buildings are planned for 6642 Alabama 59 in Gulf Shores, according to city planning. Finally, in Foley, pickleball courts are to be built north of the Coastal Farmer’s & Fisherman’s Market on Miflin Road in an effort to bring more traffic to the local market.