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The PSF Blog

The Per Square Foot Blog serves as your guide to commercial real estate along the Gulf Coast, powered by NAI Mobile, your local experts in CRE.

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Large Turnout for Merchants Plaza Project Unveiling

A large crowd gathered Thursday morning to hear plans for the newly-announced, $30 million redevelopment project titled Merchants Plaza, a historic landmark in downtown encompassing an entire city block and formerly known as Merchants National Bank. Developers of Heritage Land & Development announced the 225,000 square foot mixed-use project will have approximately 80,000 square feet of Class A office space, 26,000 square feet of commercial / retail / restaurant space and at least 82 upscale loft apartments, including several two-story penthouse units with spectacular views of downtown and the Mobile River. Leasing and property management of all commercial space will be handled by NAI Mobile

Classical Ballet of Mobile Signs Lease at Park Center

Classical Ballet of Mobile signed a lease for 6,644 square feet of space at Park Center located at 740 Museum Drive in the Springhill area of Mobile according to Jay Roberds and Heather Huffman of NAI Mobile who brokered the transaction. Please contact Heather Huffman for information regarding additional available space at the center. CLICK HERE FOR RELEASE.

Anchor Engineering Leases Former Greene & Phillips Building

Anchor Engineering leased the 5,952 square foot building at 50 North Florida Street in midtown Mobile. The building has been home to Greene & Phillips injury attorneys since 2005 who is currently constructing their new location across the street. David Dexter of NAI Mobile brokered the transaction. CLICK HERE FOR RELEASE.

Merchants Plaza Unveiling Announced

Merchants Plaza, formerly known as Merchants National Bank, announced its Project Unveiling event for July 27, 2017, at 10:00 a.m., to be held in the bank lobby of the tower. The purpose of the event is to share details of the 225,000 square foot mixed-use redevelopment in downtown Mobile through utilization of state-provided historic tax credits. Plans for Merchants Plaza include renovated office space, commercial uses and the conversion of the tower into residential units. Guest Speakers Speakers confirmed for the event include Mayor Sandy Stimpson, City Council President Gina Gregory, County Commissioner Merceria Ludgood and developers of the project from Heritage Land & Development. The

MetalTech Signs Industrial Lease

MetalTech Service Center, Inc., a Houston based company, signed a three-year lease for Building G in Halls Mill’s Road Industrial Park at 5237 Halls Mill Road. The tenant will occupy 16,766 square feet on two acres according to J.T. Jenkins and Pete Riehm of NAI Mobile who handled the transaction. CLICK HERE FOR RELEASE.

Investors Purchase Retail Store in Springhill

Local inve stors purchased 4625 Springhill Ave., a 4,400 square foot multi-tenant retail building in the Springhill area, for $622,500. The property is fully leased with the ABC Store as the anchor tenant, according to Jay Roberds and Heather Huffman of NAI Mobile who brokered the transaction. CLICK HERE FOR RELEASE.

Religious Facility Purchased on Overlook Road

Freedom Carrington Hall purchased an 8,000 square foot religious facility for $270,000, located at 5901 Overlook Road. An adjacent two acre parcel remains available for purchase according to NAI Mobile who represented the sellers in the transaction. Don Wilkins of Coldwell Banker represented the buyers. CLICK HERE FOR RELEASE.

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