Real Estate Update

According to AL.com, a local investor paid $3.5 million cash for almost an acre Gulf Coast-front lot on Perdido Beach Boulevard in Orange Beach, according to Peyton Yarborough of Re/Max Paradise, who represented the seller. Chuck Norwood of Re/Max of Gulf Shores represented the buyer. In Foley, investors paid $1.5 million for 16 acres on the Foley Beach Express just south of Highway 98, according to Norwood, who represented the sellers. The buyers plan to develop a heavy equipment rental and sales business on the property. Gloria M. Sims of Re/Max of Gulf Shores represented the buyers. In Spanish Forth, Soho Studios, a hair salon, has leased 1,512 ft2 of retail space at 30169 Woodrow Lane Fort across from the Eastern Shore Centre, according to Kaelan McArthur of Stirling Properties. Presales are underway on Bayou Sunrise, a 16-unit complex at 840 Gulf Shores Parkway in Gulf Shores, according to Frank Malone of Bellator Real Estate & Development. Ken Crabtree of Signature Properties has co-listed the units with the Malone Team.