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Charlotte-Lee-Collier
Business Observer Friday, Jul. 18, 2008 12 years ago

Commercial Real Estate Briefs

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Commercial Real Estate Briefs

Commercial Real Estate Briefs

Lee/Collier

Another step toward Estero commercial center

The Lee County Hearing Examiner, despite opposition by members of the Estero Community Planning Panel, recommended that county commissioners approve the rezoning of 44.2 acres in the southwest corner of Corkscrew Road and Three Oaks Parkway.

Opponents argued that the site was unsuitable for a "big-box" use, and that this area was designated as the community's "Main Street," and so was inconsistent with Estero's Community Plan. Lee County planners, however, said none of the community plan's provisions prohibits such a major retailer presence west of Three Oaks Parkway, and that development of the site would not be detrimental to the area's residents.

If county commissioners approve the rezoning from a mixed-use to a commercial and residential planned development, it will increase the likelihood of an Estero Place or Midtown Estero - a residential and commercial center with up to 92 residences, 280,000 square feet of retail space and 20,000 square feet of office space.

ETC...

• Dave Lincoln Contracting leased 5,000 square feet of industrial space at 3827 Arnold Ave., Naples, from Vincent and Enza Panipinto. Tom Pepitone of Pepitone Properties Corp., Fort Myers, represented the landlord and Tammy Kipp of Coldwell Banker NRT, Naples, represented the tenant.

• Bonita Springs-based Heatherwood Construction completed work on the 36,000-square-foot Page Field Center plaza at 5020 S. Cleveland Ave., Fort Myers. Chuck-E-Cheeses will be the main tenant, encompassing 14,500 square feet. McHarris Planning & Design of Bonita Springs provided architectural design services.

• The West Bay Club community in Bonita Springs picked EECON Inc. to construct its new tennis pavilion, to feature a 1,100-square-foot, air-conditioned, octagonal-shaped pro shop; an 1,800-square-foot covered terrace; and outdoor seating. The project is expected to be finished this fall.

The Bonita Springs-based commercial contracting company also completed a new children's play park at Pelican Landing community in Bonita Springs. Work included installation of storm drainage, site grading, paver walkways, upgraded landscaping, playground equipment on a special surface treatment, benches and picnic tables. JRL Design and DeLisi Fitzgerald Inc. were landscape architects and civil engineers on the project, respectively.

• The Grubb & Ellis |1st Commercial Industrial Team is the exclusive marketing agent for the new Country Lakes Business Center, a 40,000-square-foot industrial flex building at 5701 Country Lakes Drive in Fort Myers. EB Properties owns the building which was constructed by J.L. Wallace Inc. It features 20-foot-tall ceilings, a full sprinkler system, a 125-amp electrical service and motorized ground-level warehouse doors. Spaces ranging from 2,000 to 40,000 square feet are available for lease.

• Gates finished construction of a new Fifth Third Bank location two weeks ahead of schedule at the Gateway Shoppes at North Bay, 411 Wiggins Pass Road, Naples.

• Tom Monaghan, the chancellor of Ave Maria University in the planned 5,000-acre town with the same name in eastern Collier County, plans to sell a 59-acre site at Immokalee Road and Collier Boulevard in North Naples. The land is currently under contract to an undisclosed buyer and is in the due diligence phase with expectations that the deal will be completed within a year. The property was rezoned from agricultural land to a commercial and residential mixed-use development last June, with plans for residences, 175,000 square feet of commercial development and a 150-unit assisted living facility. No construction has occurred on the site. The property is in the name of "Tree Farm Land Trust," with Monaghan listed as its sole owner. It is not affiliated with Ave Maria University or town, according to the university and Barron Collier Cos., the town's co-developer with Monaghan.

• Alico Lakes Commons LLC has leased the following suites in the Seatech Center, 17595 S. Tamiami Trail, Fort Myers: Unit 200.18, 100 SF, to Deco International Security Corp. & T.S.I. Investments; Unit 108.8, 144 SF, to Eigo Networks, Inc.; and Unit 108.6, 104 SF, to Signature Series Construction. Michael J. Frye, CCIM, of RE/MAX Realty Group Commercial Division negotiated the transactions.

• Frito-Lay has signed a long-term, build-to-suit lease agreement for a new 35,000-square-foot distribution facility. The project will be built at Westbury Park, an 84-acre, master-planned commercial development on Veronica S. Shoemaker Boulevard in Fort Myers. It will serve as the Lee and Collier county distribution hub for Frito-Lay products. The current distribution building is located on Metro Parkway. Westbury Park Developments and Grubb & Ellis 1st Commercial will develop the building.

• Teri Burleigh has been promoted from vice president to partner of Compass Construction Inc., based in Cape Coral. She has been with the company since 1990, and has more than 23 years of experience in the construction industry. Burleigh recently earned a state Certified General Contractors License.

• Fort Myers-based Sheeley Architects Inc. has been awarded the contract for the Lee Memorial Health System Sleep Disorder Outpatient Center at Plantation Road. The project consists of a one-story interior sleep disorder building, lab suite and physician's office. Chris Bundschu, president of real estate developer Bundschu Kraft and Bruce Lampitt, associate of Sheeley Architects, will be heading up the project.

• SchenkelShultz Architecture designed the University of Florida's College of Dentistry's new $5.4 million, two-story, 20,000-square-foot dental clinic being built at the Edison College campus in East Naples. It will focus on serving children plus provide training for students and dentistry residents of the university, as well as continuing education for area dentists. The clinic will include 16 private, open and surgical dental areas, classrooms and patient waiting area as well as space for future expansion.

Eastlinks construction begins

McGarvey Development, Fort Myers, has begun construction on the second of four office buildings at Eastlinks Business Park. Located at 12600 Corporate Lakes Drive in the Gateway area of South Fort Myers, the building will offer 30,000 square feet of office space with units starting at 1,300 square feet. It will feature views of a courtyard with park-like landscaping. A total of 174,000 square feet of customizable office space will be available when all four buildings are completed. In addition, the park includes three buildings with 173,000 square feet of industrial flex space. Leasing is available for both flex and office space with full-service design and substantial build-out allowances. A 7.41-acre out-parcel on Daniels Parkway is also available for sale. The Eastlinks Business Park has entrances off both Daniels Parkway and Gateway Boulevard, and is adjacent to McGarvey Development's Westlinks Business Park.

Resort to add children's pool complex

Stevens Construction Inc., Fort Myers, has begun work on the new children's pool complex at South Seas Island Resort on Captiva Island, which includes 120-foot cyclone-curved and 50-foot vertical waterslides, slide tower, equipment room, trolley stop, benches and custom lighting. Construction on the project, the company's fourth for the resort, is expected to be finished by the end of the year. The architects are Ron Weaver and Zach Smith of BSSW Architects Inc.

Stevens Construction Inc., Fort Myers, has begun work on the new children's pool complex at South Seas Island Resort on Captiva Island, which includes 120-foot cyclone-curved and 50-foot vertical waterslides, slide tower, equipment room, trolley stop, benches and custom lighting. Construction on the project, the company's fourth for the resort, is expected to be finished by the end of the year. The architects are Ron Weaver and Zach Smith of BSSW Architects Inc.

Tampa Bay

Lutz Roofing opts for quick Clearwater sale

BUYER: Private group of investors based in Clearwater, Fla.

SELLER: Pier Watch Properties LLC, Leonard, Mich.

PROPERTY: Ulmerton building, 3899 Ulmerton Road, Clearwater

PRICE: $1.8 million

PREVIOUS PRICE: N/A

LAW FIRM ON DEED: N/A

PLANS, DESCRIPTION: For commercial owners thinking of selling, when and at what price to offer and accept are perennial decisions. Sometimes, the factors that lead up to the choices play significant roles in the process.

Lutz Roofing owns two warehouse units in the Ulmerton retail/industrial property at 3899 Ulmerton Road in Clearwater and was also its landlord. Through Pier Watch Properties LLC, it sold the 36,080-square-foot complex to a private group for $1.8 million, and closed within 14 days from offer to closing on June 30.

"He had the option of spending on sprucing up the appearance a little which would have increased the asking price a little along with delaying any possible sale," said Elliott Ross of The Ross Realty Group who represented the seller. "His decision was to take this offer now. He did well overall, [as he had been] getting basically free rent for his own business by being there awhile along with getting rent during the same period of time from others. And other potential buyers [of the property] would probably have offered him less."

The buyers, a private group based in Clearwater which was represented by Arian Kushta of Charles Rutenberg Realty, declined to comment regarding the transaction.

The four tenants in the Ulmerton complex are Le Nail salon, House of China restaurant, Central Automotive repair shop and Bay Publications. AK Tires and Wheels, Richard Ging, Clearwater Hydraulic, JK Manufacturing, A&A Machine and Jonathan Jones Sign Company also own warehouse units there.

Microsoft completes

move in Tampa

Approximately 150 local employees of software developer giant Microsoft Corp. moved into a new 25,000-square-foot office on Highwoods Bay Center's seventh floor in Tampa on July 7. They previously worked out of 15,000 square feet at Bayport Plaza on Tampa's Rocky Point.

The new location will host sales and marketing personnel for several of the company's business units, including enterprise, manufacturing, government and education sales, public-sector services and recruiting. "We are committed to the Tampa region, both in business and in support of the community, and we look forward to being here for years to come," Dawn-Marie Elder, Microsoft business manager and chief of staff for the East Region sales enterprise division, said in a statement. The new office space provides a conference space, parking garage and gym that employees can use for free.

Beyond the company's business impact, Microsoft has given and matched employee gifts to the community for a total of $30 million since 2003.

ETC...

• Sirion Therapeutics plans to add 30 employees, doubling its workforce, in its new location across the street in Sabal Park, 9314 E. Broadway Ave., Tampa. The relocation was already planned. The hiring is due to FDA approval two weeks ago for Durezol, the company's new topical eye ointment that will help patients recover from eye surgery. The new workplace is environmentally friendly with energy-saving fluorescent lighting, plumbing that conserves water and work stations that can be recycled.

• A new Publix Super Market is planned to open at 111 104th Ave. on Treasure Island on August 28. At 28,000 square feet, it'll be the smallest of the company's store models. The retail space will be on the second floor; a 125-space garage will be the ground floor with four elevators providing access to shopping.

• Tampa-based Sam Seltzer's Steak Houses of America Inc. (The Review, July 11) asked a federal bankruptcy judge to allow it to end the $90,000 annual lease for its South Florida Avenue location in Lakeland from Publix Super Markets Inc., as well as the $150,000 annual lease with Sholand LLC for an Ocala restaurant that never opened. The company had closed the Lakeland restaurant prior to seeking bankruptcy court protection from creditors on June 27, according to court records.

• Tampa Bay Commercial Mortgage, a division of NAI Tampa Bay, announced the recent closings of refinancing mortgages for the Beltrace Plaza Apartments for $2,500,000 and the Midway Court Apartments for $2,100,000. The loans were brokered through Tampa Bay Commercial Mortgage's local network of community banks and were placed with US Ameribank as the lead lender. NAI Tampa Bay is part of NAI Global, the world's largest managed commercial brokerage network with more than 375 offices and 8,000 associates in 55 countries.

• Davis Marcus Partners, the real estate investment and development firm with headquarters in Boston, changed the name of its St. Petersburg-based Florida operations to Marcus Partners Inc. It owns and manages Collier Health Park and Collier Place in Naples and Waldemere Medical Plaza in Sarasota, and plans to focus on medical, industrial and retail acquisitions and development. Mark Stroud, with more than 25 years of experience in real estate valuation, management, development, brokerage and acquisitions, will lead the Florida office as president. Patrick "PJ" Penrose recently joined the firm as development director, from BVG Incorporated, where he was project manager and operation coordinator.

• Lease transactions handled by The Ross Realty Group Inc., Clearwater, last month included: 6,175 square feet of industrial space at Bayside 122 Industrial Park, 4477A & 4479B 122nd Ave. N., Clearwater, from Bayside Industrial LLC to Millennium Tire; 4,023 square feet of office space at Armenia Professional Center, 4023 N. Armenia Ave., Tampa, from Armenia Professional Center LLC to Dr. Alan Feldman; 7,942 square feet of retail space at Park Blvd. Professional Building, 5001 Park Blvd., Pinellas Park, from Pinella Park Partnership to Aaron Rents Inc.; 3,969 square feet of retail space at Bloomingdale Town Center, 10312 Bloomingdale Ave., Riverview, from Mas Orfus to Department of Corrections; and 2,238 square feet of office space at Pinebrook Business Center, 7441 114th St., N., from Pinebrook Business Center Associates to Allied Electronics.

Sarasota/Manatee

North Port Medical Plaza construction gets underway

The Starling Group has started construction of the 50,000-square-foot North Port Medical Plaza.

The $15 million, two-story project at 2345 Bobcat Village Center Road is to be anchored by Sarasota Memorial Hospital's new 18-room emergency center, including a walk-in clinic, plus X-ray, ultrasound and lab testing services.

The building is expected to be completed in May 2009, with the first patients to be served the next month. Sarasota Memorial plans to buy the first floor when completed for $5.4 million. The hospital expects to spend another $6 million equipping the emergency center. The 25,000-square-foot second floor will be available for lease or condominium ownership by medical and general businesses. A construction loan with First National Bank of Florida closed on July 2.

The architect is Sarasota County's FleischmanGarcia while the civil engineer is Cavoli Engineering Inc. The developers are local physician Lee Gross and his partners, who scaled down their original proposal from 75,000 to 50,000 square feet and from three to two floors, citing economic conditions.

ETC...

• Zirkelbach Construction, the Palmetto-based commercial and industrial design/build and construction management firm, earned a contract for interior improvements at a surgery center to be run by Coastal Orthopedics & Sports Medicine. The business, called Surgery Center at Pointe West, is at 1917 Worth Court in Lakewood Ranch, and will be Coastal's fourth site, according to Zirkelbach. Terms of the contract were not disclosed. The 10,000-square-foot project will house two Class-A and one Class-B operating rooms, including both pre- and post-operative areas. The center will also provide workrooms for anesthesia, decontamination and sterilization; a patient and family waiting area; a doctor's lounge with locker room and showers; a nurse's station.

• Citing recent sales growth and the addition of new equipment, Digital Image Business Solutions, which offers printing solutions, corporate branding and marketing communications services, has moved from Bradenton to a new, 3,200-square-foot building more than double the size of its previous operations at 7216 21st St. E., near U.S. 301 and Whitfield Avenue, in South Manatee County.

• Peek Traffic Corp. has leased the Gammerler Industrial Facility in Gulfcoast Corporate Park, 2906 Corporate Drive, Palmetto, a 55,824-square-foot, Class-A office/industrial building. Peek, a maker of urban traffic control products, is owned by Chicago-based Quixote Corp. Anthony V. Migliore of Coldwell Banker Commercial NRT, Sarasota, represented the lessor, and Bruce Vaughan of the Staubach Companies, Tampa, represented the lessee.

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