Mobile County to buy Theodore strip mall

Published: Monday, November 08, 2010, 7:15 PM

MOBILE, Ala. -- The Mobile County Commission today ?approved the $3.65 million purchase of a Theodore shopping center in an effort to save on rent.?

The county currently leases space in The Theodore Oaks Shopping Center for a library, the Sheriff’s Office and the Revenue and License commissions.?

The strip mall is on U.S. 90 at Theodore Dawes Road.?

By owning the building rather than leasing space in it, the county will actually save money each year, said Nancy Johnson, a spokeswoman for the county.?

The county pays about $244,000 per year in rent, she said. Although financing has yet to be put in place, the annual mortgage on the property is expected to be about $350,000.?

Rent from private businesses in the center will more than make up the difference, Johnson said. ?Bay Bank, Alabama Power and Dollar General, are all current tenants at the building, she said.?

Closing on the property will be completed before the end of the year, according to the county. ?

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