Orange Beach, Ala. – (OBA) – The Wharf at Orange Beach, a popular shopping, dining and entertainment venue on the Alabama Gulf Coast, today announces the acquisition of an additional 86 acres on the north side of the Intracoastal Waterway near the Foley Beach Express Toll Bridge.
The property, formerly known as Bama Bayou, will be re-branded as The Wharf Landing. The purchase does not include the parcel with buildings on it is not part of the deal.
Ideally located across the Intracoastal Waterway from The Wharf, a vibrant and established 222-acre development encompassing a successful mix of commercial and residential uses.
Combined with The Wharf, the new acquisition will result in common ownership of approximately 4,000 feet of navigable water frontage on more than 300 acres. The land planning process will begin immediately, and The Wharf ownership is excited to work with users and developers to create an exceptional and complimentary project.
In it’s 16th year of business, and the 10th anniversary year of Art Favre’s ownership of The Wharf, this marks the second large-scale acquisition of property in the City of Orange Beach. Nearly all tenants at The Wharf are owned by area residents, making The Wharf one of the highest concentrations on the Gulf Coast of locally owned businesses.
“The vision of The Wharf has always been to develop unique experiences with creative improvements to engage the community,” Kristen Hammack of The Wharf Ownership Team said. “We’re always looking at ways we can enhance our goal of creating memories for those living in and visiting Orange Beach while also providing employment and educational opportunities, so this expansion is the perfect opportunity for growth.”
Since 2012, Favre has made state-of-the-art infrastructure and general property updates to the existing development including the SPECTRA Laser Light Experience, expansions at the full-service The Wharf Marina and the 10,000-seat The Wharf Amphitheater. This also includes outparcel expansions such as the SpringHill Suites by Marriott hotel, newly built The Wharf Storage and Cumberland Farms convenience store.
The Wharf has partnered with Jeff Barnes and Steadman Bethea, advisors with Stirling Properties, to secure tenants and users for the commercial space at The Wharf. Current occupancy is 97 percent and development activity is robust.
“The Wharf sets the standard for a dynamic mixed-use development on Alabama’s Gulf Coast,” Barnes said. “The ownership team has a proven track record of creating an appealing and successful destination for tourists and local residents. As the coastal market continues to grow, the addition of The Wharf Landing is timely and exciting.”
For commercial real estate information pertaining to The Wharf or The Wharf Landing, contact Jeff Barnes at 251-375-2496 or mailto:jbarnes@stirlingprop.com?subject=The Wharf Landing or Steadman Bethea at 251-375-2486 or mailto:sbethea@stirlingprop.com?subject=The Wharf Landing). For the latest news and updates on what’s to come at The Wharf, visit alwharf.com, or follow along on Facebook, Instagram and Twitter at @thewharfoba.