Mobile, Ala., May 25, 2017 – The former Merchants National Bank / Regions Bank buildings located in downtown Mobile, that includes six buildings and approximately 225,000 square feet, were recently purchased by Heritage Land & Development of Memphis, TN. The property encompasses the entire city block at the northeast corner of St. Francis and St. Joseph Streets. Harbert Realty Services from Birmingham and NAI Mobile represented the purchasers in the transaction. The buyers plan a mixed use redevelopment of the property, a concept they have previously completed in Tuscaloosa, AL, Chattanooga, TN, and Columbia, SC. Details on the redevelopment should be released in the following weeks.
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