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Downtown Real Estate & Development News
Greetings!

Signs of Spring are everywhere downtown; from the blooming flowers to the crowded sidewalk cafes to the development activity.  Crews are busily working on the renovation of the GM Building (former AmSouth Bank Building).  Progress is steadily being made on the Candlewood Inn and Suites coming out of the ground at the intersection of St. Louis and Royal Streets.  And the County Annex on Government Street is complete and staff is moving from the former Press-Register building into their new permanent home.  It's a great time to be downtown. 

Thanks,
Fred Rendfrey

New Property for Lease
401 Dauphin Street401 Dauphin Street
  • Build to Suit Opportunity
  • 2 Story, 9,300 SF Building, Built in 1850's
  • 4,620 SF of Land
  • Zoned B-4, General Business
  • Price: Depends on Tenant Finish
Contact Todd Drummond via email or 251-694-1180


ULI Real Estate Business Barometer:

There were a few bright metrics in economic news recently.  First is the GDP's 5.7% jump in the fourth quarter of 2009.  This increase in GDP is primarily due to four factors: personal consumption; private fixed investment, with fantastic gains in equipment and software; residential investment; and exports.  Second, January's unemployment rate dropped to 9.7% after two months at 10%.  January's net job loss of 20,000 jobs was the lowest monthly job loss since February 2008.   Third, January's retail sales were up slightly, 0.5%, the highest level since September 2008.  The S&P 500 rose 3.1% in February and has a year-over-year return of 37.3% at the end of February. 

The news is not all good, however.  The Consumer Confidence Index fell sharply in February following three months of modest increases. for new homes decreased in January and are now 12.3 % below one year ago.  Single-family home pricesOffice vacancy rates stood at 19.7% in the fourth quarter of 2009, up from 19.1% in the third quarter.  Retail vacancy rates also rose from the third to the fourth quarter from 18.6% to 19.2%.  Finally, fourth quarter apartment vacancies rose from 8.3% to 8.6%. 

So, the news is mixed.  For more information and in depth charts and graphs see:
Urban Land Institute's Real Estate Business Barometer 


DeTonti Commons-Townhomes for sale
254 Congress Street


254 Congress Street
  • 4 new construction townhomes
  • Federal style
  • 2 floors - 1733 SF w/ 10 ft ceilings on both floors
  • 2 bedrooms and 2 1/2 baths
  • Fire place
  • Open floor plan
  • Granite countertops, stainless steel appliances, Brazilian cherry hardwood floors
Starting at $314,000

For more information contact Etsie Foreman at (781) 888-4971  or Nichole Patrick at (251) 479-1314



City of Mobile &  EPA Announce Brownfields Grant

The City of Mobile received a $400,000 grant from the Environmental Protection Agency to do the phase I environmental analysis of sites that could have minor environmental issues.  The grant is intended to clear the path for redevelopment of important infill sites in the historic districts, including downtown.  If you or someone you know owns property and is interested in participating in this program, then please contact me, Fred Rendfrey at 434-8498 or Ray Richardson at 208-7629.
Brownfields Assessment Program Photo
New Restaurant Site for Lease
250 Dauphin Street-Former Martini's, Now Available
250 Dauphin Street
  • 2 story, 9800 SF building with beautiful iron balcony
  • Sits on premier true intersection at Dauphin and Joachim Streets
  • Kitchen on the 2nd floor with dumbwaiter
  • Gorgeous bar on the first floor
For more information call David Naman at (251) 490-8504

Should you be an Entrepreneur?  Take this Test

Daniel Isenburg, an entrepreneur and entrepreneurial professor, has developed the "Isenburg Entrepreneur Test" to help determine if you have the necessary internal drivers needed to succeed as an entrepreneur. 
  1. I don't like being told what to do by people who are less capable than I am.
  2. I like challenging myself.
  3. I like to win.
  4. I like being my own boss.
  5. I always look for new and better ways to do things.
  6. I like to question conventional wisdom.
  7. I like to get people together in order to get things done.
  8. People get excited by my ideas.
  9. I am rarely satisfied or complacent.
  10. I can't sit still.
  11. I can usually work my way out of a difficult situation.
  12. I would rather fail at my own thing than succeed at someone else's.
  13. Whenever there is a problem, I am ready to jump right in.
  14. I think old dogs can learn - even invent - new tricks.
  15. Members of my family run their own businesses.
  16. I have friends who run their own businesses.
  17. I worked after school and during vacations when I was growing up.
  18. I get an adrenaline rush from selling things.
  19. I am exhilarated by achieving results.
  20. I could have written a better test than Isenberg (and here is what I would change ....)
For more information see:  Harvard Business Review, Should You be an Entrepreneur



There is never a better time to visit or do business downtown.  For more information on real estate or business opportunities, call me at the Downtown Mobile Alliance. 
 
Sincerely,
 
Fred Rendfrey
Downtown Mobile Alliance
[email protected]
(251) 434-8498 office
(251) 533-5017 cell