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Real Estate Briefs
Sarasota/Manatee
Winter Park-based Investors Buy Land
for Lakewood Ranch Country Club East
BUYER: Country Club East Investors LLC (JCAG Management LLC), Winter Park
SELLER: Schroeder-Manatee Ranch Inc.
PROPERTY: About 700 acres in Manatee County
PRICE: $51.17 million
LAW FIRM ON DEED: Daniel Perka, general counsel of Schroeder-Manatee Ranch Inc., Bradenton
PLANS, DESCRIPTION: A Winter Park-based investment group has purchased about 700 acres east of Lorraine Boulevard, across from the existing Lakewood Ranch Country Club. Tom Danahy, president of LWR Communities LLC, says Country Club East will be an extension of the existing Country Club community. Danahy says the plan at this point is for the development of another 18-hole golf course, with the potential of a second phase of 18-holes later on, along with a clubhouse.
"The communities are going to be entirely integrated in with the county club," Danahy says. "It really won't matter which side of the road you're on you'll be able to play at any course."
The first phase of Country Club East calls for a little more than 1,000 residences. The primarily single-family community is also expected to have some multi-family condo housing. The investment group mortgaged the land to SMR for $40.9 million and to Northern Trust Bank of Florida for $12 million.
Holmes Beach local
buys complex
BUYER: Manatee Avenue West Apartments LLC (Greg Ross), Holmes Beach
SELLER: Matthew Ward
PROPERTY: 2207 Manatee Ave. W., Bradenton
PRICE: $1.1 million
PREVIOUS PRICE: $925,000, April 2004
LAW FIRM ON DEED: Harrison Hendrickson & Kirkland PA, Bradenton
PLANS, DESCRIPTION: Greg Ross purchased the 12-unit apartment building at 2207 Manatee Ave W. for $1.1 million. Ross' company Manatee Avenue West Apartments LLC mortgaged the property to People's Community Bank for $876,000.
Menke buys more for North Port Gateway
BUYER: North Port Gateway LLC (principal Frank Menke III), Sarasota
SELLER: Dennis Fullenkamp, Trustee and Chancellor Park Land Trust Agreement
PROPERTY: Various properties in Sumter Boulevard and Tamiami Trail, North Port
PRICE: $3.1 million
SELLER: Sumter Square LLC (principal Frank Menke III)
PROPERTY: various properties in Sumter Boulevard and Tamiami Trail, North Port
PRICE: $2.3 million
LAW FIRM ON DEED: Gronek & Lantham LLP, Orlando
PLANS, DESCRIPTION: The Frank Menke Organization has purchased about 22 acres of land from Dennis Fullenkamp and consolidated additional property it owned to develop North Port Gateway Shopping Center. The Sarasota company has already sold land in North Port Gateway Shopping Center in separate transactions for the first Wal-Mart Supercenter, Home Depot and Applebee's Neighborhood Bar and Grill in North Port.
According to Todd Menke, son of Frank Menke and president of the Frank Menke Organization, the complex will be a mix of retail, office space and restaurants.
"We'll be starting in about a month and everything should be up in the next 12 to 15 months," Todd Menke says.
The Frank Menke Organization mortgaged the Dennis Fullenkamp land purchase to Fifth Third Bank for $5.57 million.
Etc...
• Phoenix Realty Holdings LLC has purchased a 2,136-square-foot office/warehouse located at 4545 Mariotti Court, unit C in Sarasota from Vista System Inc. for $350,000. Debbie Anglin of Ian Black Real Estate and Kobbi Achiam of Keller Williams handled the transaction.
• PDG Electric has purchased the 4,000-square-foot Hops Restaurant building, at 4502 14th Street W., Bradenton, from W. Harvey Anderson and Drummond Spence for $2 million. Hops retains a long-term lease on the property.
• South Trail Associates, LLC purchased 1.07 acres, located at 8504 S. Tamiami Trail in Sarasota, from South Trail Associates, LLC for $1.38 million. Ian Black & Debbie Anglin of Ian Black Real Estate, and Michael Seery of Michael Seery & Associates Inc. handled the transaction.
• 1099 Tocobaga Lane LLC purchased the property at 4306 N. Tamiami Trail in Sarasota from Rebecca Berndt-Hanson for $1.13 million. The space is being renovated for use as office space. Barbara Baseman of Michael Saunders & Co.'s The Commercial Group handled both sides of the transaction.
• Snavely Development Co. has opened the Summer Cove on Siesta's sales office and design center in the former Summerhouse building, 6101 Midnight Pass Road, Siesta Key. Once the development is sold out, the former Summerhouse building will be renovated to serve as the community's clubhouse. Construction broke ground in October. The Summer Cove will feature a total of 45 three- and four-bedroom residences, ranging from 2,100 to 3,700 square feet, with enclosed garage parking.
• Sarasota-based John Cannon Homes has started its new-home sales program in the village of Bay Estates Preserve at MiraBay, a 750-acre community in the Southshore area of Hillsborough County. Most of the builder's 12 home sites overlook MiraBay's 135-acres man-made lagoon or the adjoining 1,200-acre Wolf Branch Creek Preserve. New homes, which start at 4,200 square feet in size, begin at $1 million including home site. John Cannon Homes currently builds in 11 communities in southwest Florida.
Lee/Collier/Charlotte
D.R. Horton Land in Lehigh Acres
BUYER: D. R. Horton Inc.
SELLER: Tousa Homes Inc.
PROPERTY: 84 acres in Lehigh Acres
PRICE: $20.5 million
ATTORNEY ON DEED: Greenberg Traurig P.A., West Palm Beach
PLANS, DESCRIPTION: D. R. Horton bought 84 acres in Lehigh Acres from Tousa Homes for $20.5 million, property records show. D.R. Horton officials could not be reached. The Fort Worth, Tex.-based homebuilder currently builds homes at The Colonnade at The Forum, a residential development off Colonial Boulevard just east of I-75 in Fort Myers. D.R. Horton is a publicly traded company (stock symbol DHI, recent stock price $38).
Developer plans
condos in Fort Myers
BUYER: McGregor Commons Inc.
SELLER: Don and Ron Throgmartin
PROPERTY: 15031 McGregor Blvd., Fort Myers
PRICE: $10.9 million
ATTORNEY ON DEED: Forsyth & Brugger P.A., Naples
PLANS, DESCRIPTION: Fort Myers-based developer Throgmartin Co. plans to build 326 condominiums in five 5-story buildings near the intersection of McGregor Boulevard and Pine Ridge Road in Fort Myers. The 30-acre development will be called Palazzo del Sol and construction is scheduled to start in April, says Kerry Steeno, vice president of development and construction.
Condo sales will begin Feb. 1 and prices will range from $300,000 to $600,000. Amenities in the gated community will include two swimming pools.
BUYER: Rick Tromble and Michelle Tromble
SELLER: SunTrust Bank
PROPERTY: 18501 Murdock Circle
PRICE: $10.2 million
ATTORNEY ON DEED: Cathy Homa Arther, Esq., Orlando
PLANS, DESCRIPTION: Rick and Michelle Tromble bought the SunTrust Bank building in Murdock for $10.2 million for investment purposes. The two-story building is fully leased, includes a drive-through teller and was built in 1991.
Tromble is president of Tromble & Co., a Port Charlotte-based company that owns and operates 40 Taco Bell restaurants from Sarasota to Naples and Palm Beach. Tromble says he is looking for other real estate investments in Charlotte County.
TrombleS Buys SunTrust Building
BUYER: Rick Tromble and Michelle Tromble
SELLER: SunTrust Bank
PROPERTY: 18501 Murdock Circle
PRICE: $10.2 million
ATTORNEY ON DEED: Cathy Homa Arther, Esq., Orlando
PLANS, DESCRIPTION: Rick and Michelle Tromble bought the SunTrust Bank building in Murdock for $10.2 million for investment purposes. The two-story building is fully leased, includes a drive-through teller and was built in 1991.
Tromble is president of Tromble & Co., a Port Charlotte-based company that owns and operates 40 Taco Bell restaurants from Sarasota to Naples and Palm Beach. Tromble says he is looking for other real estate investments in Charlotte County.
Etc...
• Strathmore Development bought 10 acres at 12025 Bonita Beach Road in Bonita Springs from The Fitzgerald Group for $4.6 million. Paul Sands and Mike Doyle of VIP Commercial-TCN Worldwide represented the sellers and Brian Tunnell of Coldwell Banker represented the buyer.
• Cypress Park LLC bought 1.2 acres with shops and apartments at 3860-3880 Tamiami Trail North in Naples from Five Yuppies Investors Inc. for $3.4 million. Fred Kermani of CB Richard Ellis negotiated the transaction.
• Paul McCullers, Trustee, bought a 20,578-square-foot office building in Airport Woods Commerce Center at 10061 Amberwood Road in Fort Myers from Peter Wetterman for $2.5 million. Bill Shuba of D'Alessandro & Woodyard represented the seller and Harvey Youngquist of Youngquist Brothers Rock represented the buyer.
• Thrift-Dee LLC bought the former 84 Lumber property at 4231 Colonial Blvd. in Fort Myers for $1.7 million. Paul Sands of VIP Commercial-TCN Worldwide represented the seller and Bill Mankin, also with VIP Commercial, represented the buyer.
• Vijay Patel bought a 3,900-square-foot building and lot at 1950 Clayton Court in Fort Myers from Thomas Alex. Paul Sands of VIP Commercial-TCN Worldwide negotiated the transaction.
• WilsonMiller leased a 25,000-square-foot office in the Galleria at the Forum at 3423 Forum Blvd. in Fort Myers from Galleria at the Forum LLC. Steve Wood of D'Alessandro & Woodyard negotiated the transaction.
• Gemaire Distributors LLC leased 12,000 square feet of industrial space at 11950 Amedicus Lane in Fort Myers from Newco Investments. Jim Garinger of VIP Commercial-TCN Worldwide negotiated the lease transaction.
• Carroll Properties leased 10,000 square feet of industrial space at 13790 Treeline Ave. South in Fort Myers from Camapden Land Trust. Gary Tasman and Scott Robertson of VIP Commercial-TCN Worldwide negotiated the lease.
• News-Press Publishing Company Multimedia Holding Corp. leased 9,630 square feet in the Central Cape Business Park at 1480-1490 N.E. Pine Island Rd. in Cape Coral from Lion Paw LLC. Bill Shuba of D'Alessandro & Woodyard negotiated the transaction.
• Flesher Windows leased 9,375 square feet of office and warehouse space at 5592 Lee Street in Lehigh Acres from Gerard and Marjorie Pizzuti. Todd Holman and Steve Wood of D'Alessandro & Woodyard negotiated the transaction.
• The Heart Group leased 8,785 square feet of medical office space in Health Park at 9800 Health Park Cir. in Fort Myers from Lee Health Resources. Gary Tasman and Enn Luthringer of VIP Commercial-TCN Worldwide negotiated the transaction.
• Florida Complete Concrete Systems leased a 7,500-square-foot office/warehouse building at 3955-57 Edwards Dr. in Fort Myers from VP Investments Properties III. Tim Colen and Cooper Huff of D'Alessandro & Woodyard negotiated the transaction.
• Southwest Florida Pain Management Consultants leased 6,685 square feet of space at 23 Barkley Circle in Fort Myers from The Harvard Partnership. Gene Mahaney heads up the practice. Gary Tasman and Scott Robertson with VIP Commercial-TCN Worldwide negotiated the transaction.
• Kenco Group leased 4,800 square feet of industrial space at 12771 Westlinks Dr. in Fort Myers from Cambridge Management Associates L.P. Robert Johnston and Jerry Messonnier, both of CB Richard Ellis, negotiated the transaction.
• M&I Bank leased 4,470 square feet of retail space in Esplanade of Marco Island at 800 North Collier Blvd. in Marco Island from A&N of Marco Inc. Larry Foster, John Blumer and Bill Young, all of CB Richard Ellis, negotiated the transaction.
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