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Charlotte-Lee-Collier
Business Observer Tuesday, Dec. 27, 2005 12 years ago

Real Estate Briefs (Lee/Collier)

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Lowe's Buys 16 acres in CollierHome Depot plans store in Cape CoralMcGarvey Development plansoffice park in Cape CoralKB Home to build Tortuga Reserve in Fort MyersHovnanian buys lotsin Cape CoralDeveloper buys Naples condos
by: Adam Hughes Staff Writer

Real Estate Briefs (Lee/Collier)

Lowe's Buys 16 acres in Collier

Buyer: Lowe's Home Centers

Seller: Briarwood Shopping Center LLC

Property: 5051 Radio Road, Naples

Price: $13.5 million

Previous price: $6.8 million, December 2004

Attorney on deed: Henderson, Franklin, Starnes & Holt PA, Fort Myers

Plans, description:

Lowe's, the North Carolina-based home-improvement store, bought 16 acres at the corner of Radio and Livingston roads in Collier County. Lowe's spokeswoman Jennifer Smith confirmed the company's purchase but declined to provide details.

Home Depot plans

store in Cape Coral

Buyer: Home Depot USA Inc.

Seller: Windsor Thomas Group Inc., Trustee

Property: Land on Skyline Boulevard, Cape Coral

Price: $3.5 million

Attorney on deed: Cramer, Haber & McDonald, PA, Tampa

Plans, description:

Home Depot plans to build a store on Skyline Boulevard in Cape Coral. The company says it has started clearing the land. Home Depot spokesman Don Harrison says there is no scheduled start for construction of the 110,000-square-foot store.

McGarvey Development plans

office park in Cape Coral

Buyer: East Cape Associates LLC

Seller: D.J. Realty Partner LLC

Property: 39 acres in Cape Coral

Price: $10.8 million

Attorney on deed: Phoenix Law Partners PA, Fort Myers

Plans, description:

Bonita Springs-based McGarvey Development bought 39 acres for an office park called East Cape Corporate Center near Pondella and Pine Island roads in Cape Coral. The company plans to build a combination of office and industrial buildings, says William Price Jr., McGarvey's senior vice president. Those plans include 144,000 square feet of industrial "flex" space, 140,000 square feet of one-story office buildings and 110,000 square feet of multistory office buildings.

McGarvey plans to sell about six acres for retail. Construction is scheduled to start in the second quarter of 2006 and will take about five years to build out.

KB Home to build

Tortuga Reserve in Fort Myers

Buyer: KB Home Fort Myers LLC

Seller: Shelter Enterprises I Inc.

Property: 80 acres in Lee County

Price: $6 million

Attorney on deed: McCabe & Samiljan, West Palm Beach

Plans, description:

Los Angeles-based KB Home plans to build 200 single-family homes on 80 acres off Island Park Road in Lee County. The development will be called Tortuga Reserve and construction is scheduled to start in early 2006. Prices are not yet available.

Hovnanian buys lots

in Cape Coral

Buyer: K. Hovnanian First Homes LLC

Seller: American Prime Group Inc.

Property: 71 lots in Cape Coral

Price: $5.5 million

Attorney on deed: Enrique Ferrer, Esq., Miami

Plans, description:

K. Hovnanian Homes bought 71 lots in Cape Coral in two transactions totaling about $5.5 million. Company officials could not be reached for comment. Hovnanian, based in Red Bank, N.J., bought Cape Coral-based First Home Builders of Florida in August.

Developer buys

Naples condos

Buyer: Palm River Development Co. of Naples LLC

Seller: Leslie and Maria Anderson

Property: 212 Palm River Blvd., Naples

Price: $2.8 million

Previous price: $665,000, March 1998

Attorney on deed: Porter Wright Morris & Arthur, Naples

Plans, description:

Naples Realtor Clifford "Chip" Olson bought a 12-unit condominium complex in Naples. The condos currently are rented out as apartments with long-term leases. "We're kicking around a half dozen ideas," Olson says. "We'll decide in the next 60 days." Olson is president of Colonial Square Realty in Naples.

Palm River Development mortgaged the property to Encore Bank for $2.4 million.

Etc...

• Mario Sunzone bought a 28,761-square-foot building at 1620 Medical Lane in Fort Myers from Colonial Medical LLC for $2.8 million. Fred Kermani of CB Richard Ellis negotiated the transaction.

• Winkler Holdings Lot 9 LLC bought 4.56 acres at the southwest corner of Winkler Avenue Extension and Veronica Shoemaker Boulevard in Fort Myers from KFI LLC for $1.6 million. In addition, Winkler Holdings Lot 10 LLC bought 5.18 acres at the southeast corner of Winkler Avenue Extension and Executive Circle in Fort Myers for $1.7 million. Fred Kermani and Robert Johnston, both of CB Richard Ellis, represented the seller. Robert Brass of Prime Real Estate and Investments represented the buyer.

• Mustang Motorsports bought a 10,000-square-foot warehouse building at 1006 Bavaria Road in Fort Myers from Sox Development for $540,000. Robert Johnston and Jerry Messonnier, both of CB Richard Ellis, brokered the transaction.

• Closets by Design leased 8,600 square feet at 5577 6th St. W. in Lehigh Acres. Andrew DeSalvo of Premier Commercial Properties represented the tenant.

• RollingShield Parts Inc. leased 8,235 square feet of office and warehouse space at 6221 Topaz Court in Fort Myers from Willard J. Graff & Associates Ltd. Paul Sands of VIP Commercial-TCN Worldwide negotiated the transaction.

•Â Crazy Stone leased 6,000 square feet of industrial space at 16131 Pine Ridge Road, unit 2, in Fort Myers from William and Sandra Boyce. Jim Garinger of VIP Commercial represented the tenant. Gary Tasman and Scott Robertson, also with VIP Commercial, represented the landlord.

• Elapid Capital leased 6,000 square feet of industrial space in unit 1 at 16131 Pine Ridge Road in Fort Myers from William and Sandra Boyce. Gary Tasman and Scott Robertson of VIP Commercial negotiated the transaction.

• Premier Electric leased 5,034 square feet of industrial space at 1440 Railhead Blvd., unit 5, in Naples from Byron W. Trerice Jr. Trust.

Fred Kermani of CB Richard Ellis negotiated the transaction.

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