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Business Observer Friday, Feb. 10, 2006 12 years ago

Real Estate Briefs

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Neal Communities buys Duke RanchEnterprise Associates buys Bradenton land for towersConnecticut company buys Main Street propertyLely Development buys RV ResortMorrison Homes buys lots in Fort MyersWestpoints plans homes in Naples
by: Adam Hughes Staff Writer

Real Estate Briefs

Sarasota/Manatee

Neal Communities buys Duke Ranch

BUYER: PGCI IV LLC (principal James Shier), Lakewood Ranch

SELLER: Nap Duke Ranch LLC

PROPERTY: Old Tampa Road near Parrish in northern Manatee County

PRICE: $24 million

PREVIOUS PRICE: $9.98 million

LAW FIRM ON DEED: Law Offices of George H. Mazzarantani PA, Sarasota

PLANS, DESCRIPTION: Neal Communities purchased the 290-acre Duke Ranch from developer North American Properties.

Pat Neal, president and owner of Neal Communities, says what attracted him to the heavily wooded property was its location on Highway 301, the surrounding development and existing infrastructure.

The property is designated for residential as well as commercial development. "I contemplate that there will be an office park and shopping at the front," Neal says. But plans are not yet final.

About 400 of the homes will be targeted toward active senior adults and another 300 for families. There will be an amenity center with a lap pool, children's pool and play structure.

Neal says the company will apply for the permits later this month to build a total of 715 homes on the site.

Enterprise Associates buys Bradenton land for towers

BUYER: Enterprise Associates of Sarasota LLC

SELLER: Thomas Carver, individually, and as the 401 Land Trust

PROPERTY: 301 W. 7th St., Bradenton

PRICE: $4.28 million

LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Sarasota

PLANS, DESCRIPTION: Sarasota developer Sam Hamad's Enterprise Associates of Sarasota purchased an apartment complex and four duplexes in downtown Bradenton to build two 18-story condominium towers with a total of 150 units.

The Promenade at Riverwalk has set the tone for the area, Hamad says, and he has just been waiting for the right property to become available.

Hamad has developed several Sarasota projects, including Marquee en Ville and 1517 State Street. He expects to move forward with plans on his newest project during the second quarter.

Enterprise Associates mortgaged the 1.9-acre site to Gold Bank for $3.4 million.

Connecticut company buys Main Street property

BUYER: SCG Capital Profit Sharing Plan LLC (70%) and Lawrence Goichman (30%), Stamford, Conn.

SELLER: BMS Main Street Properties LLC

PROPERTY: 2163 Main St., Sarasota

PRICE: $1.4 million

PREVIOUS PRICE: $595.000, October 2003

LAW FIRM ON DEED: Robert M. Johnson PL, Sarasota

PLANS, DESCRIPTION: A profit-sharing plan for Stamford, Conn.-based computer leasing company, Stamford Computer Group, and its President Larry Goichman have purchased a 3,000-square-foot office building on Main Street, east of the Sarasota County Courthouse, as an investment.

"They've invested in four or five other downtown buildings," says Bob Johnson, an attorney who handled the transaction and an agent for the buyers. "They have faith in the future of the area."

Etc...

• Peter Dye and Arthur Hills have designed a master plan to renovate the two golf courses at The Oaks Club, a private golf-course community in Osprey. Construction is slated to start in April, with completion in November.

The Eagle course will be the first course in Southwest Florida to be completely planted in SeaIsle Supreme, a new variety of paspalum grass.

Arthur Hills, who will lead the renovations for the Eagle golf course, has renovated more than 120 courses, including the Oakmont, Inverness, and Oakland Hills.

Dye, who is contracted to modernize the Heron course, is a respected golf course architects with about 50 years experience. His layouts include Whistling Straits in Wisconsin and the Ocean Course at the Kiawah Island Golf Resort in South Carolina. Ten of his designs are among the 100 top-ranked courses in the United States.

• Sarasota's The ADP Group has been awarded the contract for the interior renovation and an addition to the dining room for the Bradenton Country Club. The non-equity club, in the heart of Bradenton on Ninth Avenue West, averages 850 members and was founded in 1924.  It is the oldest continuously operating club in Manatee County. Design and planning is to begin in February, with completion slated for year's end.

Charlotte, Collier and Lee

Lely Development buys RV Resort

BUYER: Charlotte Resort LLC

SELLER: Lindy Lee Combest-Smith, Carole Combest, trustees

PROPERTY: 3701 Baynard Drive, Punta Gorda

PRICE: $11.9 million

PREVIOUS PRICE: $1.7 million, February 1990

ATTORNEY ON DEED: Williams, Parker, Harrison, Dietz & Getzen, Sarasota

PLANS, DESCRIPTION: Naples-based Lely Development bought the Punta Gorda RV Resort off U.S. 41 near Jones Loop Road. Joseph Boff, president of Lely Development, could not be reached.

The RV resort has 223 hookups and nine buildings, including a 6,000-square-foot clubhouse, a 4,500-square-foot home and a laundry building.

Morrison Homes buys

lots in Fort Myers

BUYER: Morrison Homes

SELLER: ACI LLC

PROPERTY: 50 lots in Fort Myers

PRICE: $11 million

ATTORNEY ON DEED: Pavese Law Firm, Fort Myers

PLANS, DESCRIPTION: Morrison Homes, owned by British-based homebuilder George Wimpey, bought 50 lots on nearly 13 acres at Avalon Preserve in Fort Myers. The community is on Winkler Avenue south of Summerlin Road.

The company plans to start building model homes, but prices won't be announced until April, says Marek Bakun, Morrison's vice president of operations. The homes will range in size from 2,300 to 4,000 square feet and the first residents are scheduled to move in by November. "Our goal is to sell out in 16 months," Bakun says.

This is the company's first project in Southwest Florida. Morrison plans to build 140 townhomes on 15 acres near Interstate 75 and Colonial Boulevard and 30 single-family homes near U.S. 41 and Pine Road in Estero.

Bakun says he's analyzing other undisclosed parcels in Collier and Charlotte counties.

Westpoints plans

homes in Naples

BUYER: Davis Eastgate LLC

SELLER: Thomas Eckerty, trustee

PROPERTY: 37 acres on Davis Boulevard, Naples

PRICE: $9.7 million

ATTORNEY ON DEED: Thomas Eckerty, esquire, Fort Myers

PLANS, DESCRIPTION: Naples investor Robert Gisselbeck of Gisselbeck & Associates bought 37 acres bordered by Interstate 75 on the north. Gisselbeck says he has a contract to sell the land to Westpoints Development, which Gisselbeck says plans to build affordable housing.

"We close in eight or nine months," Gisselbeck says.

Officials with Westpoints could not be reached. Westpoints, based in Naples, is a luxury and custom-home builder in communities such as Audubon Country Club in Naples, West Bay Club in Estero and Spanish Wells in Bonita Springs.

Etc...

• Pine Ridge Professional Plaza LLC sold the 4.49-acre northwest parcel at Pine Ridge Road and Whippoorwill Lane in Naples to JP's Bar-B-Que LLC for $3.7 million. The owner plans to develop the property for a Famous Dave's Bar-B-Que. Paul Sands of VIP Commercial-TCN Worldwide negotiated the transaction.

• D. Barr Inc. bought six acres at 16450 N. Cleveland Ave., North Fort Myers, from Jose Garcia for $2.2 million. Michael Munn of Sellstate Realty Network represented the buyer and David Pegg of Coldwell Banker NRT represented the seller.

• William A. Hamp III bought a 12,000-square-foot office and warehouse building at 2659 N.E. 9th Ave., Cape Coral, from DCN Enterprises for $1.4 million. Paul Sands of VIP Commercial-TCN Worldwide negotiated the transaction.

• Gregg Truxton, as trustee, bought a 6,400-square-foot building at 665 Del Prado Blvd., Cape Coral, from Harrison Holdings LLC for $1.3 million. Gary Tasman of VIP Commercial-TCN Worldwide negotiated the transaction.

• Rice Insulation & Glass leased a 10,000-square-foot office, warehouse and distribution building at 17411-17417 Jean Street, Fort Myers, from Robert Brownlee. Bill Shuba of D'Alessandro & Woodyard negotiated the transaction.

• Great Southern Window & Door leased 7,146 square feet of industrial space at 2633 Martin Luther King Jr. Drive, Fort Myers, from 2633 MLK LLC. Stan Stouder of CB Richard Ellis negotiated the transaction.

• Florida Legacy Allstars leased 4,825 square feet of space in Parkway Plaza at 10231 Metro Parkway in Fort Myers from Kuehner Properties. Jim Garinger of VIP Commercial-TCN Worldwide negotiated the transaction.

• Old Republic Title Insurance leased 4,014 square feet of office space at Goodlette Office Park at 671 Goodlette Rd., Naples, from Goodlette Office Corp. Gary Tasman and Shawn Stoneburner of VIP Commercial-TCN Worldwide negotiated the transaction.

• B&I Contractors awarded Stevens Construction the contract to build a 5,520-square-foot addition to the B&I manufacturing facility on Prince Street, Fort Myers, and to remodel 20,000 square feet of office space.

• California-based Ryland Homes has started selling 92 homes called the "Chateau Collection" at the Promenade at the Forum, a residential community northeast of Colonial Boulevard near Interstate 75 in Fort Myers. The company also started selling 132 homes at Banyan Bay off Winkler Boulevard in Fort Myers. Prices for homes in both communities will start in the high $300,000 range. Meanwhile, Ryland also has started selling 51 homes at River Hall Country Club off State Road 80 in Alva. Price will start in the $400,000 range.

• The D'Jamoos Group plans to start selling 48 homes at Andalucia, a gated community on Whippoorwill Lane in Naples. Prices will range from $400,000 to $800,000.

• J.L. Wallace has started building Pine Key Condominiums at 1050 and 1055 Hancock Blvd., Cape Coral. The development consists of seven buildings with eight 1,210-square-foot condos. Wallace is scheduled to complete the $6.3 million first phase of the project in August.

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