Mobile-based Zarzour Cos. recently announced its acquisition of one of Mobile’s better-known landmarks, the 10-story, 100,000-plus-square-foot Bel Air Tower, for $4.25 million. The property is at 851 E. I-65 Service Road at the intersection of Airport Boulevard and Interstate 65. Zarzour Management Co. will oversee the site.
“Bel Air Tower is one of the most convenient, most visible office assets in South Alabama. We see this as a strong area with significant upside,” CEO Matt Zarzour said.
Significant interior improvements planned for the short-term will require an additional $400,000 in capital investment. Long-term outside improvements will cost roughly $200,000.
“We are still waiting on quotes from a lot of local contractors for exterior work, so that number could fluctuate significantly as estimates come in. This is a welcomed addition to our portfolio, and it further illustrates our optimistic outlook for the Mobile area,” Zarzour said.
The building is currently 70 percent occupied with goals for rapid tenant expansion this year. For leasing inquiries, contact Gaines Zarzour at 251-895-2612 or gaines@zarzour.com.
• Henig Furs, Leather and Outerwear recently relocated and expanded into a new, 1,722-square-foot retail space on the ground floor of Bel Air Tower, moving from The Shoppes at Bel Air and into the former family-owned Friedman’s Fine Jewelry space, which closed last December after 72 years in business. Jason Scott, leasing executive with Stirling Properties, managed the transaction.
• CFT NV Investments, LLC, recently purchased a pad site in front of a former Ryan’s Steakhouse restaurant in Tillmans Corner for $899,000 with plans to build a new Panda Express restaurant. This will be the California-based chain’s third location in the Mobile area, with expectations for more franchise locations in the future.
Kenny Nichols of Vallas Realty Inc. handled the transaction. Build-out at the West Mobile site is expected to include a 2,200-square-foot eatery with a seating capacity of 50. Opening is slated for sometime this summer, with hiring timelines to be announced.
• 9Round Kickboxing has leased some 1,400 square feet of floor space inside the new Publix-anchored Saraland Crossroads shopping center, located in the northwest quadrant of Industrial Parkway and the I-65 Service Road in Saraland.
The new facility’s fitness program reportedly blends functional, interval, cardiovascular and circuit training regimens in a 30-minute workout. Plans are in place for the local franchisee owner of 9Round Kickboxing to open more locations in Mobile over the next several months. David Dexter of NAI Mobile represented the tenant in the lease transaction.
• Green Nurseries, established in 1932 and reportedly the oldest family-owned business in Fairhope, is closing the retail side of its operations at 415 Fairhope Ave. for good this year. “The property would be ideal for a restaurant, coffee shop or brewpub,” co-owner Bob Green Jr. said. The 3,000-square-foot former flower shop sits on 3.6 acres of property due north of Thomas Hospital. Sharon Wright and Matt White with White-Spunner Realty are handling inquiries.
• Mobile-based Rehm Animal Clinic has purchased two home plots, located at 501 and 505 Celeste Road on one acre in Saraland, for $185,000 and $145,000, respectively, for a total of $330,000. The plot at 501 Celeste Road will be converted into a full-service animal clinic.
This is the clinic’s first foray into North Mobile County and fourth location overall. The second site will be set aside for future business use. Joey Betbeze with Betbeze Realty Company Inc. handled the transaction for Rehm Animal Clinic.
• Pratt Thomas with the Merrill P. Thomas Co. Inc. reported the Australia-headquartered, interval training-based health club F45 Fitness has leased a second location in Baldwin County. The 3,300-square-foot space is situated at the Daphne Southern Gate Shopping Center at 1501 U.S. Route 98 in Daphne. Opening is expected this spring. Colby Herrington with Herrington Realty represented the landlord in the transaction; Thomas worked for the tenant.
• Alabama Artificial Limb & Orthopedic Services Inc. recently signed a five-year lease for some 3,000 square feet of clinical space at 721 Oak Circle Drive E. in Mobile. Mike Reid with White-Spunner Realty represented the tenant; Pratt Thomas with the Merrill P. Thomas Co. Inc. worked for the landlord.
• Mobile Storm Volleyball Club has expanded at its 65 Sidney Phillips Drive location in Mobile by 19,000 square feet for a five-year lease term. Plans are to add additional courts as well as house indoor tennis in the future. Mike Reid with White-Spunner Realty represented both landlord and tenant in the transaction.
• Joe Steen Real Estate and Development Inc. reported a new local business, MCM Sales and Storage, recently signed a five-year lease for a 6,000-square-foot sales and storage space on 3.6 acres at 26290 U.S. Route 59, due south of Loxley. The retailer specializes in RVs, boats and autos.
• Terry McKinney with Delaney Land and Realty reported the sale of the former Lenny’s Sub Shop site at 251 Azalea Road in Mobile. The roughly 2,000-square-foot former fast-casual restaurant sits on about an acre of property and was acquired by local investors for $250,000. Plans are in place to open a Central American-themed eatery at the location sometime this year.
• Ameriprise Financial Services Inc. has expanded into an additional 2,934 square feet of space at 4332 Boulevard Park S. in Mobile, for a total of 4,671 square feet. The new office opened in December. Jill Meeks, leasing Executive with Stirling Properties, handled the transaction.