Real Estate Update

MOBILE, BALDWIN COUNTY, Ala. — According to AL.com, an out-of-town investor paid $1.4 million for approximately 10 acres on Highway 181 just south of Fairhope Avenue in Fairhope, according to Herrington Realty, who handled the transaction. The buyer plans to develop a high-end “Main Street” retail concept with a downtown Fairhope atmosphere. The restaurants and shops will feature architectural styles similar to those of Fairhope. In Gulf Shores, a local investor paid $1.3 million for 155 acres at the intersection of Roscoe Road and the Foley Beach Express, according to court records. Margaret Ronan and Carla Weeks-Lemire of Realty Executives Gulf Coast handled the transaction. The property is on the southeast and southwest corners of Roscoe Road, and some of the land lies within Orange Beach. The acreage has been leased for hunting land. In Orange Beach, Turquoise Place Condominium Association, Inc. is seeking approval to construct a four-story, 80,300-ft2 parking garage at 26456 and 26468 Perdido Beach Boulevard to supplement parking for the nearby condominium towers, according to city planning. The project includes a 20,800-ft2 amenity area on the garage roof. In Foley, the 21-unit West Laurel Apartments complex is to be built just north of Highway 98 and east of North Beech Street, and 12 new pickleball courts are to be built at the Gulf Shores Sportsplex on Baldwin County 6. The City of Gulf Shores is expected to approve a cost of $744,369 for the courts to be built by American Tennis Courts Inc. In Theodore, a Texas-based wholesale pipe company plans to expand into the Mobile market and paid $950,000 for a 20,000-ft2 industrial warehouse on 5 acres at 9466 B Bellingrath Road, according to Pete J.A. Riehm of CRE Mobile, who represented the buyers. Gowan Lenaghan of White-Spunner Realty worked for the sellers.