Commercial Real Estate Briefs

By Business Observer Staff
| 6:00 p.m. November 14, 2008
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Charlotte–Lee–Collier

Lee/Collier by Sean Roth Real Estate Editor

Local investors buy Sanibel Islander's Center

BUYER: 2407 Periwinkle Way LLC (principal: Michael McMurray), Fort Myers

SELLER: Teg Florida Investments LLC

PROPERTY: 2407 Periwinkle Way, Sanibel

PRICE: $1.76 million

PREVIOUS PRICE: $1.55 million, July 2004

PLANS, DESCRIPTION: An investment group, headed by Michael McMurray of VIP Realty Group Inc., purchased the two-building Islander Center on Sanibel for $1.76 million. The nearly 10,000-square-foot building houses five retail tenant spaces.

The center was fully occupied as of the sale.

"The buyers were a group of local investors," McMurray says. "They liked the cash flow it threw off. It had an annual gross of about $180,000."

The center was in good condition, he says, so the new owners have only minor improvements plans, including landscaping improvements and changes to the signage.

The owners are planning to change the name, but no replacement name has been chosen.

Tenants in the center include the Greenhouse Grill restaurant; Cape Nails nail salon, Zebis Inc. computer service and Sanibel Captiva Trust Co.

McMurray's group McMurray & Nette of VIP Realty Group represented the seller, and Judy Reddington of VIP Realty Group represented the buyers.

Chick-Fil-A company

buys land for restaurant

BUYER: Chick-Fil-A Inc., Atlanta

SELLER: Southwest Florida Investment Group LLC

PROPERTY: 9980 Interstate Commerce Drive, Fort Myers

PRICE: $1.39 million

PREVIOUS PRICE: $13.5 million, September 2005 (included multiple parcels)

LAW FIRM ON DEED: The McGruder Law Firm LLC, Cumming, Ga.

PLANS, DESCRIPTION: Fast-food chicken company Chick-Fil-A Inc. purchased an acre of commercial land on Interstate Commerce Drive in Alico Lakes Village for $1.39 million.

Chick-Fil-A expects to start construction on the new restaurant in mid-November. Chick-Fil-A restaurants typically range in size from 4,000 to 4,500 square feet. The new Fort Myers location is scheduled to open in April.

"We haven't chosen the general contractor yet," says Jerry Johnston, senior manager of public relations for Chick-Fil-A. "We're still going through the budget."

The restaurant chain owns more than 1,400 restaurants in 37 states and the District of Columbia and plans to add another 70 in 2009. The company owns three Chick-Fil-As each in Fort Myers and Sarasota, two each in Bradenton, Naples and Port Charlotte and several more in the Tampa area.

ETC...

• Dennis and Debra Gilkey have launched Gilkey Realty Inc., a new real estate brokerage specializing in the marketing and sale of large land tracts and commercial properties. Debra Gilkey serves as president and managing broker of the new firm. Dennis Gilkey will serve as senior advisor and sales associate, and he will also serve as CEO and managing principal for Gilkey Organization, a real estate development and consulting firm.

• Seminole Gulf Railway has leased 5,803 square feet of space at 4100 Center Pointe Road in Fort Myers from Citec Florida LLC. Randal Mercer and Enn Luthringer, both of CB Richard Ellis, Fort Myers-Naples handled the transaction.

• Northern Trust has broken ground on its new planned environmentally sustainable building in Fort Myers. The 16,300-square-foot, two-story building is scheduled to open in the fall of 2009 at 7960 Summerlin Lakes Drive.

• Lehigh Acres-based Sunshine Structures Inc. has started the structural concrete and masonry on the 150,000-square-foot City of Miami College of Policing at 400 NW 2nd Avenue in Miami. Pirtle Construction, the general contractor, awarded Sunshine Structures the contract to complete all structural concrete and masonry on the four-story building designed by Spillis Candella Architects. This building will feature exposed concrete walls and red iron columns and beams encased in concrete. The structural concrete work is schedule for completion in December.

• Balfour Beatty Construction has awarded Lehigh Acres-based Sunshine Structures a contract to complete the structural work for the new Cape Coral Police Headquarters located at 1102 Cultural Park Blvd., Cape Coral. Sunshine will provide cast-in-place structural concrete and steel-reinforced tilt-wall systems for the three-story, 85,000-square-foot facility. Architects Design Group designed the building. Construction is scheduled to start in November.

• Harry Chapin Food Bank of Southwest Florida agreed to lease 50,000 square feet of warehouse space at 3760 Fowler St. in Fort Myers for five years. The new distribution center is designed to allow the food bank to process more food from America's Second Harvest and distribute it to the local community and other non-profit agencies. Andy Bauman and Ron Kerr of Sperry Van Ness in Fort Myers represented the tenant, and Lou Pettingell of Commercial Property Management represented the landlord Oakwood Associates LLC.

• SAG Leasing LLC purchased a 5,496-square-foot building at 848 Tamiami Trail, Port Charlotte from Albert A. Avedikian for $525,000. Adam Palmer Coldwell Banker Commercial NRT handled the transaction. The new tenant plans to use the property for a veterinary clinic.

• Pyramid Enterprises LLC purchased 4,650 square feet of office/warehouse space at 1685 Target Ct, Units 16-17, Fort Myers from Landshore of Benchmark LLC. Todd Holman of Woodyard & Associates LLC represented the seller, and Karen Goncalves of Bundschu-Kraft represented the buyer.

• The Gilkey Organization LLC, a Bonita Springs-based land advisory and real estate development company, has moved its headquarters to 9220 Bonita Beach Road, suite 215.

• Fort Myers-based J.L. Wallace Inc. has reached the halfway point in construction of the clubhouse at Heritage Bay at 10188 Heritage Bay Blvd. in Naples. At completion, the 37,380-square-foot two-story clubhouse will be the focal point of the Lennar Homes' Heritage Bay community. Amenities will include a full-service restaurant and bar, commercial kitchen, two saunas, golf pro shop, golf bag storage, card room, bar and grill area, and a second-story overlooking the golf course.

Titsch & Associates, Inc provided architectural design services for the clubhouse.

Sunshine Structures finishes work on Pine Jog Elementary

Sunshine Structures Inc. has completed all cast-in-place concrete, steel-reinforced concrete tilt-walls and ground face masonry block for the two-story Pine Jog Elementary and Environmental Education Center at 6325 Summit Boulevard in Greenacres. Pine Jog is the first green school in the State of Florida and is the only school in the whole country that shares a campus with an environmental center and a public university, Florida Atlantic University.

Pirtle Construction is the general contractor for the facilities, which includes five buildings totaling 156,000 square feet. Zyscovich Inc. designed the buildings.

• Girard Environmental leased 4,500 square feet of office/warehouse space at 1975 Ortiz Ave., Fort Myers from Ortiz Real Property LLC. Todd Holman of Woodyard & Associates LLC and Connie Dean of Colonial Square Realty of Fort Myers LLC handled the transaction.

• Creative Contractors Inc. has been selected by the University of South Florida to build the new Science and Technology/General Academic Facility on the St. Petersburg campus. The 34,000-square-foot, $9-million structure will be the first building in the University of South Florida system designed and constructed to achieve LEED green building certification. It will be 20% more energy efficient and 50% more water efficient than a standard building. The two-story building, which includes classrooms and laboratories, was designed by RS&H in Tampa.

• Gora/McGahey Associates in Architecture in junction with Dave M. Jones Jr. and Associates Inc. recently provided the architectural design for Trailhead Park, a new city park in Veronica Shoemaker Boulevard north of Winkler Road in Fort Myers. The new park facilities include three shelters with picnic tables, playground areas, outdoor exercise area and restroom. The park also features a three-mile linear bike trail, which link to Lee County's Ten Mile Linear Park and the Six Mile Linear Park trails.

• Vanderbilt Bay Construction Inc. has been selected as general contractor for the City of Naples Airport Authority to renovate and expand the general aviation terminal at Naples Airport. The two-story 8,000-square-foot expansion of the existing 11,700-square-foot facility adds parking, equipment storage, administrative offices, pilot offices as well as improvements to the passenger arrival/departure area. The upgrades were designed to help serve the growing demand of flight operations and increased aviation traffic at the Naples Airport.

• Riverside Investors LLC purchased 1.1 acre of land on South Tamiami Trail in Fort Myers from Sassy LLC. Jim Garinger and Andrew Falde of Colliers Arnold handled the transaction.

• Children's Network of Southwest Florida leased 12,886 square feet of office space at 4150 Ford Street in Fort Myers from 4150 Ford Street Fort Myers FL LLC. Brandon Stoneburner of Cushman & Wakefield represented the landlord. Jason Chang of Colliers Arnold represented the tenant.

• All in Nonprofit Club Inc. leased 3,750 square feet of retail space in Murdock Plaza at 1700 Tamiami Trail in Port Charlotte from SK Properties of Kansas Ltd. Karl Lippek of Colliers Arnold brokered the transaction.

• Acxiom Corp. leased the 12,497-square-foot third floor office space at 2503 Del Prado Blvd., Cape Coral from Rapid Fire Development LLC. Acxiom is a publicly traded, technology firm that provides customer and information management solutions. Gary Tasman of Cushman & Wakefield in Fort Myers represented the landlord, and Phil Deems of Phil Deems Real Estate represented the tenant.

COMMERCIAL REAL ESTATE TAMPA BAY by Sean Roth | Real Estate Editor

Landmark buys Lakeside North at Carrollwood

BUYER: Lakeside North Partners LLC, Jupiter

SELLER: Carrollwood Lakeside North Partners Ltd.

PROPERTY: 3339 Handy Road, Tampa

PRICE: $10.35 million

PREVIOUS PRICE: $6.13 million, May 1998

LAW FIRM ON DEED: Greenberg Traurig PA, Miami

PLANS, DESCRIPTION: Landmark Residential Management LLC of Jupiter purchased the Lakeside North at Carrollwood apartment complex in Tampa for $10.35 million, equal to an average of $61,607 per unit. The 168-unit, two- and three-story complex is now being called the Waterstone at Carrollwood. The 133,472-square-foot development sits on 9.4 acres of land on Handy Road and was originally built in 1984. It features a community lake, clubhouse, fitness center, pool spa, tennis courts and laundry facilities.

The new ownership plans to upgrade the fitness center and create an on-site coffee house and computer center. In addition, Landmark Residential Management plans to rehab the interiors of the apartment units with new lighting, flooring, cabinetry and countertops.

Landmark Residential Management's purchase entity Lakeside North Partners LLC mortgaged the property to Wachovia Multi-family Capital Inc. for $8.6 million

Belleair Development Group

buys Port Richey Lone Star

BUYER: Cay Cinema LLC and Gan Cinema LLC (principals: Carlos Yepes and Greg Nowak), Tampa

SELLER: Lone Star Steakhouse & Saloon Florida

PROPERTY: 6815 Cinema Drive, Port Richey

PRICE: $1.1 million

PREVIOUS PRICE: $1.22 million, June 1994

LAW FIRM ON DEED: Hunton & Williams LLP, Dallas

PLANS, DESCRIPTION: Pinellas Park-based development firm Belleair Development Group Inc. purchased a 5,000-square-foot Lone Star Steakhouse & Saloon restaurant in Port Richey for $1.1 million.

Calls to the firm were not returned prior to publication.

Belleair Development Group is best known as a developer of retail and office projects ranging from drugstores, gas stations and banks up to large power centers.

The buyer's two related purchase entities Cay Cinema LLC and Gan Cinema LLC mortgaged the property to Regions Bank for $825,000.

ETC ...

• Clearwater-based Peter R. Brown Construction has awarded Lehigh Acres-based Sunshine Structures a contract to complete the structural work for the Polk County Jail, a new correctional facility located at 1125 U.S. 98 W. in Frost Proof. This is the second correctional facility Sunshine will perform for Peter Brown, having recently completed the Irwin County Jail in Ocilla, Ga. Sunshine will provide cast-in-place structural concrete, masonry and steel-reinforced tilt-wall systems for the 152,500-square-foot facility. CRA Architects designed the building.

Dunkin' Donuts

opens new green store

Dunkin' Donuts has opened its first green store. The St. Petersburg LEED-certified store, at the corner of 4th Street North and 76th Avenue North, is a first for Dunkin' Donuts and will serve as a prototype for future green construction projects. The St. Petersburg restaurant is built in the Dunkin' Donuts flagship model design and features LEED enhancements including: energy-efficient insulated concrete foam walls, motion sensors for restrooms and offices, water-efficient plumbing fixtures, low-flush toilets, and uses well water rather than potable water for all irrigation.

• Perma-Liner Industries Inc. agreed to lease a 30,000-square-foot facility at 13000 Automobile Boulevard in Clearwater for seven years. Bill Alton and Dave Tower of NAI Tampa Bay represented the tenant.

• Real estate investor William Mickle purchased a closed World Savings Bank Branch at the corner of U.S. 19 and Sunset Point Road in Clearwater from private REIT ARC Realty Services for $400,000. John Burpee, president of NAI Tampa Bay, handled the transaction.

• Georgy Gorgidzhanov leased 6,000 square feet of industrial space at 4477 122nd Ave. N., lot 1 in Clearwater from Bayside Industrial Park LLC. Broker Eric Croson of The Ross Realty Group represented the landlord.

• Carlos Aldamuy leased 5,370 square feet of industrial space at 4477 122nd Ave. N. in Clearwater from Bayside Industrial Park LLC. Broker Eric Croson of The Ross Realty Group represented the landlord.,

Dynamic Leisure and Tours LLC leased 5,328 square feet of office space at 3001 Executive Center Drive in Clearwater from Executive Centres LLC. Broker Judi Lechner of The Ross Realty Group represented the landlord.,

• CC Tampa LLC dba Corporate Charters leased 2,750 square feet of retail space at 5621 E. Fowler Ave., suite 201 in Tampa from Terrace Walk Plaza. Broker Jason Aprile of The Ross Realty Group represented the landlord.,

• Maintech Maintenance Inc. leased 2,624 square feet of industrial space at 12555 44th St. N., suite C in Clearwater from Bayside Industrial Park LLC. Broker Eric Croson of The Ross Realty Group represented the landlord.

• Catus & Holly Aitkens leased 2,468 square feet of retail space at 14920 Florida Ave. in Tampa from Shady Oaks Plaza. Broker John Stoner of The Ross Realty Group represented the landlord.

• GVA Advantis has been retained by Delia Real Estate LLC to exclusively market for lease 5733 Myerlake Circle, a 40,000-square foot flex property within Icot Center Business Park in Clearwater. Lucas Hewett and Radek Knesl of GVA Advantis will represent the property.

• Rush Enterprises purchased 60,000 square feet worth of buildings on 11.5 acres of land at 8211 E. Adamo Drive in Tampa from Daimler Trucks Remarketing Corp. Mark McKell of Colliers Arnold represented the buyer.

• Universal Healthcare leased 30,865 square feet of office space at 100 Central Avenue in St. Petersburg from Lutz Real Estate Investments. Jeff Tolrud and Claire Calzon of Colliers Arnold represented the landlord. Chad Rupp of Jones Lang LaSalle represented the tenant.

• TJX Cos., which operates as TJMaxx, leased 27,689 square feet of retail space at Santa Rosa Commons on Highway 90 and Watkins Street in Pace from Mpirical Development. Dave Nielson of Mpirical Development represented the landlord. Garrett Williams and Jim Kovacs of Colliers Arnold represented the tenant.

• Ross Dress for Less leased 27,683 square feet of retail space at Nature Coast Commons on U.S. 19 and Spring Hill Drive in Spring Hill from Opus South Corp. Jim Kovacs and Lisa McCaffrey of Colliers Arnold represented the landlord, and The Shopping Center Group represented the tenant.

• Stream expanded its lease of office space by 23,518 square feet, for a total of 98,000 square feet at 6302 E. Dr. Martin Luther King Jr. Blvd. in Tampa from Alliance Commercial Partners. Robin Bishop of Bishop & Associates represented the landlord. Jim Allen and Jeff Tolrud of Colliers Arnold represented the tenant.

• Humana Medical Plan, Inc. leased 6,549 square feet of office space at Netpark, 5701 E. Hillsborough Avenue in Tampa from Triple Net Properties LLC. Mercedes Angell of Cushman & Wakefield represented the landlord. Jeff Tolrud of Colliers Arnold represented the tenant.

• The Department of Defense leased 3,639 square feet of office space in Park Tower at 400 N. Tampa Street in Tampa from PT Associates. Claire Calzon of Colliers Arnold represented the landlord.

BG Capital Real Estate Investment Trust purchased a 3,000-square-foot office building at 2560 Tampa Road in Palm Harbor from The Trustee Co. Carol Warren of Colliers Arnold represented the buyer, and Linda Gardiner and Bud Lytle of Klein & Heuchan represented the seller.

• Nielsen Media Research leased 24,240 square feet of industrial space in 580 Corporate Center at 4027 Tampa Road in Oldsmar from KTR Capital Partners LLC. John Dunphy and Scott Altieri of Colliers Arnold represented the landlord.

• Todd Christopher International d/b/a Vogue International expanded its lease to 16,000 square feet of industrial space in 580 Corporate Center at 4027 Tampa Road in Oldsmar from KTR Capital Partners LLC. John Dunphy and Scott Altieri of Colliers Arnold represented the landlord.

• The Hospice of the Florida Suncoast renewed its lease of 12,345 square feet of office space at 19337 US Highway 19 North in Clearwater from Golden Shoreline Ltd. Partnership. Jane Dizona of CB Richard Ellis represented the landlord, and Carol Warren, CCIM of Colliers Arnold represented the tenant.

• American Wood Flooring leased 2,500 square feet of industrial space in 580 Corporate Center at 4025 Tampa Road in Oldsmar from KTR Capital Partners LLC. John Dunphy of Colliers Arnold represented the landlord.

TBL Ventures LLC purchased a 2,400-square-foot industrial condominium at Cross Bayou Business Center at12141 62nd St. North, Pinellas Park from Commercial Partners Realty Inc. for $175,000. Scott Clendening and Erik Anderson of Commercial Partners Realty Inc. represented the seller.

• Metcor Industries Inc. leased 6,500 square feet of industrial space in Starkey Center at12345 Starkey Road, Largo from First Industrial LP. Scott Clendening and Baharea Saffary of Commercial Partners Realty Inc. represented the landlord.

• Prime Time Medical Inc. leased 2,618 square feet of industrial space in Bryan Dairy Business Center at 7201 Bryan Dairy Rd, Largo from First Industrial LP. Scott Clendening and Baharea Saffary of Commercial Partners Realty Inc. represented the landlord.

• Boston Asset Management leased 3,744 square feet of industrial space in Turtle Creek at 4910 Creekside Drive, Clearwater from First Industrial LP. Scott Clendening and Baharea Saffary of Commercial Partners Realty Inc. represented the landlord.

• Gator Haven purchased 3,907 square feet of retail space at 5660 66th Street N, St. Petersburg from Thomas and Margaret Bailey for $450,000. Frank Bozikovich of Commercial Partners Realty Inc. handled the transaction.

Three companies buy share in

Midtown Professional Center

BUYER: Pink Cat LLC (30% interest), Dali Investments LLC (20%) and Norwood Investments One LLC (50%), Miami

SELLER: Sumner & Francise Holdings LLC

PROPERTY: 4809 N. Armenia Ave., Tampa

PRICE: $3.66 million

PREVIOUS PRICE: $695,000, January 2002

LAW FIRM ON DEED: Holcomb & Mayts PL, Tampa

PLANS, DESCRIPTION: Pink Cat LLC and Dali Investments LLC, two companies headed by David Greer and Liza Perdomo in Coconut Grove, and Norwood Investments One LLC, a Fort Lauderdale-based limited liability company, purchased the 21,000-sqaure-foot Midtown Professional Center on Armenia Avenue for $3.66 million. Originally built in 1957, the medical office center, located near St. Joseph's Hospital, was renovated in 2003-2004.

Robert King of R.J. King & Associates represented the buyers, and Paul Hoffstetter of Paul & Associates RE Services represented the seller.

"It's price per square foot was far below market when you consider the bottom floor is a surgery center," King says. "The replacement cost for just the surgery center is north of $300 a square foot. It also has stable, good-credit tenants, and it's in a good location."

The two-story building sits on 1.28 acres. Tenants in the center include the Tampa Bay Endoscopy Center, The Eye Dr., Dr. Earl Dowding and Dr. Robert Thebald. The building has 3,000 square feet of unoccupied space that King is marketing for $20 modified gross. The new owners mortgaged the building and property to US Century Bank for $2.3 million.

COMMERCIAL REAL ESTATE SARASOTA-MANATEE by Sean Roth | Real Estate Editor

1st Manatee Bank buys Cortez branch

BUYER: 1MB LLC (principal: Joseph Venable), Bradenton

SELLER: K2M 5100 Cortez LLC

PROPERTY: 5100 W. Cortez Road, Bradenton

PRICE: $1.54 million

PREVIOUS PRICE: $1.31 million, November 2007

LAW FIRM ON DEED: Kaklis Venable & Witt PA, Bradenton

PLANS, DESCRIPTION: Parrish-based start-up bank 1st Manatee Bank purchased a former Regions Bank branch on Cortez Road near 51st Street West in Bradenton for $1.54 million, equal to an average of $331 a square foot. The 4,632-square-foot building with two drive throughs will be the bank's first branch location.

"We're looking to open before the end of December," says Tom Hodgson, president and CEO of 1st Manatee Bank. "It's on a light on a busy intersection in the heart of West Bradenton. Most of the management has a lot of connections working with other banks in west Bradenton. Myself and three of our directors were with First Bradenton Bank, which was sold to Fifth Third three years ago. So we have a good following there."

The branch was in good condition, Hodgson says, and the bank only plans to make minor cosmetic improvements and changes to the signage.

The branch will house seven employees. The bank currently operates from a temporary office at 12204 County Road 675 in Parrish. It is also working through the approval process to build a new bank building in Parrish.

The bank's purchase entity 1MB LLC mortgaged the property to Sabal Palm Bank for $1.38 million.

Connecticut investor

buys Venice warehouse

BUYER: GRZ of Venice LLC (principal: Roberto Zaccardelli), Glastonbury, Conn.

SELLER: Thomas and Tammy Perry

PROPERTY: 116 Corporation Way, Venice

PRICE: $450,000

PREVIOUS PRICE: $425,000, March 2005

LAW FIRM ON DEED: Jerrel E. Towery PA, Venice

PLANS, DESCRIPTION: GRZ of Venice LLC, a limited liability company head by real estate investor Roberto Zaccardelli of Glastonbury, Conn., purchased a 6,000-square-foot warehouse building on Corporation Way in Venice for $450,000.

"My family owns the open parcel next door so I've been eyeing that building for some time," Zaccardelli says. "It's fully leased so we are going to sit on it and wait a while. It's a great location in Venice in a well built-up area that needs to that industrial space just to service the existing population. Long term it's going to be a great place to invest."

GRZ of Venice mortgaged the property to Englewood Bank for $360,000.

Wool Wholesale Plumbing Supply

buys Venice industrial land

BUYER: Allwool LLC (principal: Randy Wool), Sunrise

SELLER: Triple Diamond Commerce Plaza LLC

PROPERTY: 165 and 175 Triple Diamond Blvd., Venice

PRICE: $1.51 million

PREVIOUS PRICE: $196,900, July 2001

LAW FIRM ON DEED: Burgess Harrell Mancuso Olson & Colton PA, Sarasota

PLANS, DESCRIPTION: Miami-based plumbing supplier Wool Wholesale Plumbing Supply Inc. purchased 5.5 acres of industrial land in Triple Diamond Commerce Plaza in Venice for $1.51 million, equal to an average of $271,210 an acre. The company operates seven warehouse/showroom locations: five along the east coast of the state and one in Naples and another in Fort Myers.

Calls to Randy Wool, president and CEO of Wool Wholesale Plumbing Supply, were not returned prior to publication.

Founded in 1957 by Carl Wool, the company is family-owned company is now the largest wholesale plumbing distributor in Florida.

ETC ...

APAC-Southeast

receives resurfacing contract

The Sarasota County Commission awarded APAC-Southeast Inc. of Sarasota a $3.3- million contract to resurface 17.2 lane miles of roadway. The project will be funded primarily from the 1% sales tax as part of the county's economic stimulus program to fast-track projects. Work began earlier this month and is scheduled for completion in four months.
JBM Realty Advisors

hired to market Solana Vista

Sarasota's Players Theatre

uses grant for improvements

The Players Theatre in Sarasota received a $57,000 facilities grant from the William G. Selby and Marie Selby Foundation to make upgrades to the theatre.

It repaved and repainted the theatre's parking lot, replaced two water fountains, installed roll-down security doors and replaced all the theatre's light with more energy efficient lights.

Founded in 1930, The Players Theatre is one of the oldest community theatres in the state.

JBM Realty Advisors

hired to market Solana Vista

Tampa-based JBM Realty Advisors has been retained to handle the sale of Solana Vista Apartments, a 200-unit, Class B+, garden-style apartment community in Bradenton.

Jamie May, Eric Ammon and Melissa Cannata of JBM Realty Advisors, will be marketing the property on behalf of the owner AIMCO.

Completed in 1984, Solana Vista is located on a 17.41-acre wooded site on a three-acre lake. The community features 13 two-story wood buildings with a net rentable area of approximately 188,000 square feet.

Solana Vista also features a resort-style pool with an extended sunning deck, a fitness center, clubhouse, business center, tennis courts and car care area.

Holland Landscaping Service improving Honore Trail Park

Holland Landscaping and Tree Service Inc. of Osprey has started work on the Honore Trail Park at the southwest corner of Honore Avenue and Bee Ridge Road. The project is part of the county's economic stimulus program funded by the 1% sales tax). Funding for the fast-track project also includes a $200,000 Florida Recreational Development Assistance Program matching grant.

Park amenities will include nature trails, picnic pavilions and shelters, an observation boardwalk in a forested wetland area, playgrounds and restrooms. The park includes a cattle pasture with a windmill, and will serve as a future hub for The Legacy Trail, the 10.6-mile recreational trail along the former railroad corridor between Sarasota and Venice.

The park is expected to open in the summer of 2009. A separate project – restoration of the Dr. C.B. Wilson house – is targeted to begin in February 2009 and take about a year to complete.

• IBC Insurance sub-leased 12,000 square feet of office space from Unisource Administrators at 6010 Cattleridge Business Park, Sarasota. Anthony Homer of Hembree & Associates Inc. and Michael Fisher of CB Richard Ellis handled the transaction.

• Bradenton-based E.T. MacKenzie Company of Florida was awarded the $2.9 million on the Phillippi Creek Septic System Replacement Program construction contract to construct/install vacuum sewers and a vacuum pump station in the South Gate area. Construction is expected to take about a year to complete. The work is expected to begin on Goldenrod Street, followed by School Avenue, Satsuma Drive then Webber Street.

• Sarasota-based Trident Building Systems Inc. has been awarded a contract to manufacture and deliver two Eave T-Hangars to General Aviation Drive in Melbourne.

• Harris Lapidary Services Inc. leased 2,500 square feet of retail space at 5025 N. Tamiami Trail, Sarasota from North Trail Investments Inc. Barry Seidel of American Property Group of Sarasota Inc. handled the transaction.

Contractor to start second

building in commerce park

Morgan Johnson Associates LLC, a development entity made up of Jeff Smith, CEO of the Sarasota-based general contractor R.E. Crawford Construction; commercial realtor Stan Rutstein of Re/Max Gulfstream Realty; and several Pittsburgh investors, have started construction on the infrastructure and first building in Morgan Johnson Commerce Park in Bradenton. At completion the development, located at the southwest corner of State Road 64 and Morgan Johnson Road, will features 79,000 square feet of retail and office space in three main buildings and three outparcels. The Social Security Administration will be the main tenant in the first building, taking the bottom floor of the 24,000-square-foot building. The general contractor for the project, R.E. Crawford Construction, also plans to occupy space in the building.

Negotiations are reportedly close on a tenant to take 12,000 square feet in the second building, but nothing had been finalized as of press time.

"We're scheduled to turn over that first building to the Social Security Administration on June first," Smith says. "We will start the second building as soon as we have that new lease signed. We expect that in the next three weeks."

The center as designed will feature two restaurant outparcels and a site for a bank branch.