The Real Deal
Mugshots in Mobile; Island Wing to open on 59;
GCOF pays $900,000 for 10 acres on Intracoastal;
Sam Winter & Co.; RSA Trustmark Building;
Marketing for The Colony at Fort Morgan soon
By Kathy Jumper
Mobile Bay Times
Mugshots Grill & Bar has leased the 5,750-square-foot former Ruby Tuesday’s restaurant building on Airport Boulevard in Mobile and plans to open in June, according to Lewis Golden of The Drummond Group, who represented the tenant. David Dexter of White-Spunner & Associates worked for the landlord.
Mugshots Grill & Bar specializes in award-winning burgers and is based in Mississippi. This will be their 10th location.
Island Wing Company plans to open May 1 in the 4,000-square-foot former Sassy Bass restaurant space in Magnolia Plaza on Ala. 59 in Gulf Shores, just north of Target, according to Tim Herrington of Herrington Realty. Island Wing Co. has a restaurant in Auburn and plans to open soon in Destin, Fla.
The Gulf Coast Opportunities Fund paid $900,000 for 10 acres next to the Bon Secour Village marina off Baldwin County 4 on the Intracoastal Waterway in Gulf Shores, according to Nathan Cox of Bellator Real Estate & Development. The property has 451 front feet on the waterway and was purchased from Ken Montgomery of Charter Landing.
Cox and his partners at the investment fund, GCOF, plan to develop Lakes at Bon Secour, a 655-lot residential community on 254 acres that was formerly part of Bon Secour Village. The developers plan to build upscale amenities for the residents on the 10 acres on the waterway.
A local businessman paid $228,500 for a house at 716 W. Beach Blvd., in Gulf Shores, and an adjacent 50-foot lot, and plans to lease it for future business use, according to David and Angie Swiger of Swiger & Company Realtors, who represented the buyer. Buddy Vick of Exit Realty Gulf Shores worked for the seller.
Broker Sam Winter has opened his own real estate company, Sam Winter & Company, at 15 Upham St., in Mobile. He worked at Roberts Brothers in Mobile for nine years, where his mother, Sue Cato Winter, serves as general manager of Roberts Brothers.
Watch for the RSA BankTrust Building at 107 St. Francis St., in downtown Mobile to be renamed the RSA Trustmark Building since the merger of the two banks became official last month.
The 34-story office building was purchased by the Retirement Systems of Alabama for $6.75 million in February 2009, and RSA has just completed a $45 million dollar overhaul of the 1965 building.
About 30 to 40 percent of the 280,000-square-foot building is available for lease, according to Joe Toole, RSA’s leasing agent. The nearby 35-story RSA Battle House Tower at Water and Dauphin streets has just one floor remaining to lease, he said.
Developers plan to start marketing lots this spring in The Colony at Fort Morgan, a 57-lot subdivision about three miles down Fort Morgan Road in Gulf Shores, according to Rick Phillips of Southern Advantage Real Estate in Gulf Shores. The homes will average $150,000 to $215,000.
(Editor's note: Kathy Jumper's The Real Deal is a weekly feature in Mobile Bay Times. Her real estate column has been a "must read" for years in Mobile and Baldwin counties. Please encourage others to subscribe so that it will continue to inform Mobile/Baldwin readers. Leads and tips welcomed. Her new email address is email@example.com)