The mobile press-register offices on Water Street have been sold, and a local beer distributor plans to lease a portion of the building from the new owner for its corporate headquarters.
Adams Street Property, LLC, purchased the downtown Mobile location recently, with intentions to renovate and market it for lease. The property includes approximately 75,000 square feet of class A office space and 125,000 square feet of warehouse space.
Alabama, LLC's 24/7 Development Partners provided the seller with Advance Local Media, LLC.
The newspaper will continue to be printed on the Water Street site. About eight years ago Advance Local had moved its offices for the Press-Register and digital platform to 18 South Royal Street.
Advance Local has announced that it would lease a portion of the Water Street property and will lease it until 2023.
"This relocation to downtown will be beneficial for our city and good for Gulf," said Louis Maisel, vice president of Gulf Distributing Holdings.
Gulf Distributing has five beverage distribution companies that serve Alabama, from Huntsville to the Baldwin County Beaches, with two distributors in Mississippi, and one distributor in northwest Florida.
The firm includes over 100 local, regional, national, and international suppliers including MolsonCoors, Constellation, Red Bull, Heineken USA, Yuengling, Mark Anthony Brands, Boston Beer, Pabst, Diageo, Old Majestic, New Belgium Brewing, Abita, Singin' River, Trim Tab, Asahi, and others. Gulf also has interests in beverage distributors in Texas and Colorado.
The beer distributor employs 1,200 people.