Gulf front property sells for big bucks
A local developer paid $6 million for 2.35 acres of gulf front property at 26026 Perdido Beach Blvd., in Orange Beach, just east of Cotton Bayou State Park, according to court records. David Milstead of Bellator Commercial Real Estate represented the seller. Caribe Realty worked for the buyer who plans to develop Caribe Seaside condominiums, a 30-story. 115-unit project. The property has 255 front feet on the Gulf.
A local investor paid $390,000 for 4.54 acres at the corner of Tanner Williams and Snow roads in west Mobile, according to Chris Harle of White-Spunner Realty, who represented the buyer. Future plans call for developing the property with office and retail space
Local investors purchased the historic Regions Bank building at the corner of U.S. 98 and Baldwin County 83 in downtown Elberta for $275,000, according to Alla Nikitina of Ryals Realty, who represented the buyers. Ryals Realty plans to open an office on the property and relocate bookkeeping operations to the building this summer.
Arrow Exterminators has leased a 3,360 square foot building at 16889 Teresa Drive in Fairhope, according to Sharon Wright and Chris Harle of White-Spunner Realty, who represented the landlord.
Developers are seeking preliminary approval for Paxton Farms, a 50-lot subdivision on 20 acres at the southwest corner of Baldwin County 12 and Baldwin County 65 in Foley, according to the Foley Planning Commission.
The Romar Beach Baptist Church at 23370 Perdido Beach Blvd., in Orange Beach may be converted into a hotel. Developers are seeking PUD, planned unit development, approval to rezone the 1.7 acres for the Romar Beach Hotel, according to the Orange Beach Planning Commission.