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Business Observer Friday, Feb. 6, 2004 14 years ago

Real Estate Briefs

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This week's items: Corvus International buys near Riviera Dunes project ComCenter at Lakewood Ranch expected to open this month Axcess Diagnostics to build Bradenton officeFred Starling, Osprey s.a. plans Cattleridge Financial Center

Real Estate Briefs

Corvus International buys

near Riviera Dunes project

Bloomfield Hills, Mich.-based Corvus International Inc. bought about three acres along U.S. 41, next to the 32.5-acre parcel the company currently owns in Riviera Dunes in Palmetto, from Premm Partners LLC for $1.95 million. "It was an acquisition we wanted to do from a strategic perspective," says Tim Morris, a partner in Corvus. "Part of this purchase was to allow us to completely control our own destiny (with the larger development). It was really serendipitous." This lands also lets Morris, Larry Lipa, a partner in Corvus, and Tim Vining, principal of Florida operations and Sarasota-based W.G. Mills, the opportunity to offer retail and commercial tenants a choice between waterfront or U.S. 41 access.

Morris says the partners expect to develop four outparcels on the three-acre site.

The partners have revised the site plan since GCBR last reported on the commercial/condominium development in November. Now, the site plan calls for construction of three, 15-story condominium towers along with 50,000 square feet of retail space. The previous plan called for four 12-story towers, with a total of 38 condominium units. "(Under the former plan) the retail was just really cramped," says Morris. "This just gives us more land for the retail. It also makes the retail component more user friendly. It is also more of a pedestrian-friendly site." The development was designed by the Tampa firm of Curts Gaines Hall and Jones Architects.

Morris says Corvus has just started its marketing campaign and plans to start taking reservations for the condominium units toward the middle of the month. Corvus mortgaged the new parcel to Community Bank of Manatee for $1.25 million.

ComCenter at Lakewood Ranch

expected to open this month

Bernard Croghan's new two-story ComCenter at Lakewood Ranch building is expected to open later this month. The 20,000-square-foot office building is designed to provide an efficient commercial environment for small business users. Offices in the new building range in size from more than 200 square feet to about 700.

ComCenter at Lakewood Ranch is largely modeled after the ComCenter facility on State Road 70.

To target small businesses, the building will feature a variety of rental terms and business services. Rental terms range from one day to several years. Center services include personalized telephone answering and voice mail, broadband Internet access, web and video conferencing, file backup, computer and presentation equipment availability, secretarial services, rental furniture, art and plants.

All spaces feature exterior offices with soundproof walls, individually-controlled thermostats and lighting. Tenants also have access to two conference rooms and a furnished boardroom that seats 10.

Axcess Diagnostics

to build Bradenton office

Dr. Stephen Miley's Venice-based Axcess Diagnostics received a building permit for construction of an 18,200-square-foot medical building at 5101 Fourth Ave. Circle E. in Bradenton. The property, located just off State Road 64 west of Interstate 75, will be the second satellite imaging center for the medical-scanning company, which also has an office in Jacksonville. The company provides Magnetic Resonance Imaging (MRI) 16-slice spiral Computed Tomography (CT) and Positron Emission Tomography (PET), ultra-sound patient scanning, digital x-ray along with 3D and 4D reconstruction (essentially computer assisted reconstruction of MR or CT images). The facility was designed by the St. Petersburg firm of Wedding, Stephenson & Ibarguen Architects Inc.

The building is slated for occupancy in late spring. The property is located in Bradenton Realtor/developer Tom Brown Sr.'s SR-64 Center. The building, including the land purchase, is valued at about $2.5 million.

Fred Starling, Osprey s.a. plans Cattleridge Financial Center

Sarasota developer Fred Starling and Brighton, Mich.-based real estate acquisition and management company Osprey s.a. Ltd. are building a $2.9 million, 48,000-square-foot office building on Cattleridge Boulevard north of Bee Ridge Road in Sarasota. The three-story building, located at 6000 Cattleridge Blvd., is called Cattleridge Financial Center. Brian Kennelly, director of leasing for the Sarasota management and leasing company Osprey Management Co. LLC, says that the building will house a branch bank on the first floor.

"We should start construction in the next 30 days," said Kennelly. Starling's construction company, Fred M. Starling Inc., is the general contractor for the building. About 40,500 square feet, or 84%, is still available for lease in the building. The pre-construction lease rate is $16 a square foot triple net. "The county is getting pretty close to finishing (the expansion of) Cattlemen Road there," Kennelly says.

Forney Engineering builds

new S.R 64 headquarters

Bradenton-based Forney Engineering plans to relocate from an office near Manatee Memorial Hospital, at 602 Third Street E. in Bradenton, to a new building on State Road 64, a mile west of Interstate 75.

"We just ran out of space," says company president Ron Forney. The 6,500-square-foot building, which is currently under construction at 5213 Fourth Ave. Circle E., should double the company's available space. "This was also done to convenience the clients we serve. Most of our work is located along the interstate corridor." Forney Engineering staff designed and performed the engineering work for the new building, and Palmetto-based Zirkelbach Construction Inc. is the project's general contractor. The building is scheduled for completion in June. The building permit lists the estimated value of the project at $425,000.

Etc...

× La Bellasara LLC has broken ground on the La Bellasara, a downtown Sarasota luxury condominium on Golden Gate Point. The 29-unit condominium will be built by Sarasota-based W.G. Mills Inc. and was designed in a Mediterranean Revival style by the Sarasota architectural firm of Las Casitas Architecture & Planning Inc.

Gary Littlestar, president of La Bellasara LLC, has more than 15 years of experience in developing large-scale, master-planned communities. His credits include the 10,000-acre Tampa Palms community in Hillsborough County and the purchase and redevelopment of the 20,000-acre Rotonda community in Charlotte County, which earned him the 2000 Governor's Award for Sustainable Florida.

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