Retail Sale, Lease In Foley

Meadowbrook, a 60-unit apartment community located in Foley, recently sold for $6.82 million, according to AL.com. Pensacola-based Bayfront Capital Partners, a real estate investment firm, acquired the 60-unit property from New York-based Arch Cos. Andrew Brown and Craig Hey of Cushman & Wakefield represented the seller. Built in two phases, in 1979 and 2007, Meadowbrook is located near the Foley Beach Express. Cushman & Wakefield’s Sunbelt Multifamily Advisory Group had more than 250 transactions and $6.2 billion in multifamily and land investment sales in 2020. Also, Popshelf, a new store concept by Dollar General, has leased the 9,460-ft2 former Pier 1 Imports building at 2863 South McKenzie Street near Tanger Outlets in Foley, according to Kyle Knight and Darryl Bonner of Stirling Properties, who handled the transaction.