Overview
The Park is a 201-unit multifamily property located in the desirable West Mobile submarket within Mobile, AL. The property benefits from an excellent location in West Mobile, one of the metro’s best submarkets. Residents have direct access to major employers, transit arteries, and Mobile’s best shopping, dining, and entertainment options. Submarket multifamily performance reflects West Mobile’s popularity, regularly posting the highest occupancy and rent growth figures in the metro.
With a population of 660,000, Mobile is the third largest metro area in the state and a major hub for commerce, trade, and industry serving one of the nation’s fastest growing regions. Further underpinned by significant healthcare and educational institutions, the local economy’s recent expansion has produced an unemployment rate of only 2.8%. Mobile has traditionally been anchored by its deep-water port – the 9th largest in the nation, with further support from its sizeable healthcare and university presence. Mobile also emerged as a major aerospace, manufacturing and logistics hub which is fueling economic growth. The Mobile Aeroplex, a mixed-use industrial complex adapted from the former Brookley Air Force Base, has experienced a burst of activity over the past few years, which is now home to Airbus USA, the facility’s largest employer, as well as Hutchison Aerospace, AAA Aerospace, and MAAS Aviation.
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