The former CPSI offices at 100 Ecor Rouge Place in Fairhope were purchased for $ 2.975 million by Stoic Equity Partners, a Fairhope-based private equity real estate firm. The 45,020 square foot property was also a Food World store at one time and will be converted into a state-of-the-art self-storage facility.
The 355-unit storage business will be run virtually and is slated to open in February 2022. Jeremy Friedman of Katapult Properties represented the buyers and Joe Courtney and Mary Cane of Courtney & Morris worked for the sellers. Creuset Construction in Daphne is the contractor. Stoïc co-sponsored this investment with its partner 68 Ventures, LLC, based in Spanish Fort.
An investor paid $ 615,000 for a 15,000 square foot multi-tenant office building at 762 Downtowner Loop West in Mobile, according to Mike Reid of Merrill P. Thomas Co., who represented the buyer. The recently renovated building is fully let. John Delchamps of Merrill P. Thomas Co. worked for the salesperson.
Popshelf, a new concept store from Dollar General, has leased the former 9,460 square foot Pier 1 Imports building at 2863 S. McKenzie St., in Foley, near Tanger Outlets, according to Kyle Knight and Darryl Bonner of Stirling Properties. who handled the transaction. The store is scheduled to open next month. Popshelf stores are larger than the Dollar general store average and prices are rounded to the nearest dollar with 95% of items sold for $ 5 or less.
Investors paid $ 6.15 million for the Blue Angel Crossing Mall at 26 S. Blue Angel Parkway in Pensacola, Fla., According to Andrew Chason of Marcus & Millichap in Fairhope. The 74,000 square foot center is anchored by the Winn-Dixie grocery store.
A four-bedroom, five-bath 1.8-acre home on Little Lagoon in Gulf Shores will go up for sale in a live auction on September 28 at 6 p.m., according to Gadsden-based International Auction Co. The property located at 18650 Fort Morgan Road has a 100 foot lagoon front. For more information, contact the auction company at 888-861-0999 or 256-439-1900.