The Mobile Press-Register offices on Water Street have been sold and a local beer distributor is considering renting part of the building from the new owner for its headquarters.
Adams Street Property, LLC recently purchased the downtown mobile site with the intention of renovating it and marketing it for rental. The property includes approximately 75,000 square feet of Class A office space and 125,000 square feet of warehouse space.
Advance Local Media, LLC was the seller and 24/7 Development Partners of Alabama, LLC facilitated the transaction.
The newspaper will continue to be printed at the presses at the Water Street site. Advance Local had moved its offices for the Press-Register and the AL.com digital platform to 18 South Royal Street about eight years ago.
Gulf Distributing Holdings, LLC announced that it has committed to lease a portion of the Water Street property and will take possession after Advance Local vacates the property, which is expected to occur in 2023.
“We are very pleased to move our corporate headquarters and mobile area operations to this beautiful building in downtown Mobile,” said Louis Maisel, vice president of Gulf Distributing Holdings. “This move downtown will be good for our city and good for the Gulf.”
Gulf Distributing operates five beverage distribution companies that serve the state of Alabama from Huntsville to Baldwin County beaches, two distributors in Mississippi, and one distributor in Northwest Florida.
The company represents over 100 local, regional, national and global 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 many more. Additionally, Gulf has interests in beverage distributors in Texas and Colorado.
The beer distributor employs around 1,200 people.