Volume home builder D.R. Horton paid $2.02 million for 101 lots in Crimson Ridge subdivision off Baldwin County 8 in Gulf Shores, according to Nathan Cox of Bellator Real Estate & Development, The seller was the Gulf Coast Opportunities Fund, and Cox is a general partner in the investment fund.
Shoe Station has leased the Bed Bath & Beyond space in the Eastern Shore Centre on Ala. 181 in Spanish Fort, and will relocate from its current store in adjacent Eastern Shore Plaza, according to Mark Kraft, general manager of the lifestyle center. Shoe Station plans to lease a total of 23,130-square-feet of store space, and move there this fall after renovations are complete, he said. Bed Bath & Beyond will be relocating to a smaller space later this month at ..in Daphne. The current 12,000-square-foot Shoe Station store will remain open until the new space is renovated..
A Pensacola, Fla. investor paid $510,000 for a two-story, 5,862-square-foot building at 1715 N. McKenzie St., in Foley, according to court records. The seller was Sacred Heart Hospital of Pensacola, and was represented by Hunter McClure of REMAX Paradise in Orange Beach. The buyer plans to use the building for medical offices.
Colonial Realty Limited Partnership plans to sell its interest in the Publix Shopping Center on Gulf Shores Parkway in Gulf Shores to Publix Super Market, according to city records. The city of Gulf Shores will continue to pay Colonial $210,000 annually until a total of $2.1 million is received by Colonial for securing Publix as a tenant for the center, according to city records.
City officials negotiated the revenue sharing deal with Colonial in 2008 in an effort to bring Publix to the center. The agreement allowed the project developers, Colonial Properties Trust, to recoup up to $210,000 of sales tax revenue generated by the grocery store for as long as 11 years