An out-of-town buyer paid $1.35 million for the former TGI Friday’s restaurant building at 6945 Airport Blvd., in Mobile, and plans to renovate the property for a different restaurant use, according to Kenny Nichols of Vallas Realty, who represented the seller. Leigh Dale Younce of SRS Real Estate Partners worked for the buyer. The building is 6,929 square feet on 1.85 acres.
The Embassy Suites developers received a six-month extension and have until April 29, 2021 to begin work on a 229-room hotel at the corner of West Beach Boulevard and West 1st Street in Gulf Shores, according to city planners. The $85 million project on 1.93 acres calls for a restaurant, street front retail, a rooftop pool and lounge, a 12,000-square-foot conference room and a ballroom. With this third extension granted, the completion date for the project is early 2023.
Coldwell Banker Coastal Realty has merged with Coastal Real Estate & Development, according to David Henry, owner of Coldwell Banker Coastal in Gulf Shores. Randy Davis and his family have owned Coastal for almost 40 years. Coldwell Banker Coastal will now have three locations: Gulf Shores, headed by David Henry; a Foley office with managing broker Anthony Kaiser; and a Lillian office with John Blalock as managing broker. There are now a total of 62 agents with Coldwell Banker Coastal Realty.
Portal Insurance has leased 2,800 square feet of office space on the ground floor of the Marine Street Lofts at 951 Government St., in downtown Mobile, according to Pete Riehm and Niki Coker of NAI Mobile who handled the lease transaction. Portal is relocating its Saraland office to this new space in January.
Avizo Group businesses consulting and accounting, has leased 1,843 square feet of office space at 3600 Springhill Business Park in Mobile, according to Nathan Handmacher of Stirling Properties, who represented the tenant. JLL worked for the landlord.
Watch for Gulf Shores Beach Supply store to open in the former Rite Aid space next to Rouses Market on Ala. 59 in Gulf Shores.