Canadian Seller Sells ALDI-Occupied Retail Property In Mobile Alabama To Michigan Investment Firm For $6.3M

A retail property located at 1550 Government Street in Mobile, AL, was recently sold. The asset, occupied by ALDI, spans 42,510 square feet and was sold for $6,300,000, which equates to approximately $148 per square foot. The property benefits from over 10 years remaining on its triple-net lease and is situated in a retail-rich environment, surrounded by additional retailers such as Walgreens, Dollar Tree, and Starbucks.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,300,000
• Square Footage: 42,510
• Address: 1550 Government Street
• Market: Mobile, AL
• PPSF: $148
• Seller: Canadian
• Buyer: Michigan-based investment firm
• Broker Representatives: Randy Blankstein & Jimmy Goodman - The Boulder Group

The transaction was arranged by The Boulder Group, a brokerage firm based in Chicago. The representatives for this deal were Randy Blankstein and Jimmy Goodman, who facilitated the sale between the Canadian seller and the Michigan-based investment firm. The successful transaction underscores the strategic positioning of the property within a vibrant retail market.