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Charlotte-Lee-Collier
Business Observer Friday, Sep. 30, 2005 12 years ago

Real Estate Briefs (Lee/Collier)

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Whole Foods to Open Store in NaplesErshig Plans Development at I-75 and Luckett RoadToll Brothers buys lots at Aviano Coconut Creek developer plans million-dollar ranchettes in AlvaBusiness park planned on Collier Boulevard near U.S. 41Custom-home builderbuys lots in Cape CoralMinnesota developer plans Fort Myers condos
by: Adam Hughes Staff Writer

Real Estate Briefs (Lee/Collier)

Whole Foods to Open Store in Naples

Whole Foods, the upscale Austin, Tex.-based supermarket chain, says it plans to open a new store in Naples in 2007. The company has signed a lease for 50,000 square feet of space at The Mercato, a 53-acre commercial site being developed by The Lutgert Cos. and Barron Collier Cos. at U.S. 41 and Vanderbilt Beach Road in North Naples.

The Naples store will be the eighth Whole Foods store in Florida, says Karen Mathis, Whole Foods' regional marketing director. "We are looking for additional store sites in the state of Florida," Mathis says. She declined to say where else the company is scouting sites. "We only announce new store locations after we sign a lease," she says.

Most of Whole Foods' stores are located in South Florida. The Naples store will be the second in southwest Florida; the other store opened in Sarasota in December. Whole Foods also is building a distribution center in Fort Lauderdale.

The Mercato is a mixed-used development that will include Whole Foods and other, undisclosed, shops.

In addition, there's room for 100,000 square feet of offices and 175 condominiums and townhomes, says Dougall McCorkle, Lutgert's vice president of commercial development. The Mercato will have a "Main Street" feel that will encourage shopping, dining, working and living in one location. Construction will start next year and McCorkle says he expects the development to be completed by late 2007.

Ershig Plans Development at I-75 and Luckett Road

Buyers: Ershig Properties and Halex Corp.

Seller: Emerald Coast RV Land Co. Inc.

Property: 5151 Luckett Road, Fort Myers

Price: $5.65 million

Previous Price: $3.9 million, March 2005

Law firm on deed: Burke, Blue, Hutchison & Walters PA, Panama City

Plans, description: Ershig Properties of Henderson, Ky., purchased a half interest in about 20 acres near the intersection of I-75 and Luckett Road in Fort Myers. "We're working on a commercial project for that site in the future," says Leslie Baldwin, Ershig's corporate marketing director. She declined to give further details and referred further inquiries to the company's Web site (www.ershigproperties.com). Ershig is a regional property management and development company that owns and manages 25 retail shopping centers and other commercial developments.

Baldwin also declined to provide details about Halex Corp., which bought the other half-interest in the property. She could not say whether the company is the same as the California-based Halex, which is a manufacturer of flooring-installation products. Halex officials could not be reached.

Toll Brothers buys lots at Aviano

Buyer: Toll Livingston at Naples Ltd.

Seller: Hearthstone Multi Asset Entity A LP

Property: Lots in Aviano off Livingston Road near Pine Ridge Road in Naples

Price: $2.8 million

Title company on deed: Westminster Title Agency, Bonita Springs

Plans, description: Luxury homebuilder Toll Brothers is buying lots in stages at Aviano, a Naples residential community it started selling in November. The community is located on Livingston Road, about one mile from Pine Ridge Road. When it's built out in 2007, Aviano will have 212 homes on 59 acres, says Ralph Reinert, vice president with Toll. "We'll be closing on the first homes in March 2006," Reinert says. Prices for the carriage homes and villas at Aviano range from $450,000 to $750,000.

Toll, which is headquartered in Horsham, Pa., has been building in Southwest Florida for about 10 years.

Coconut Creek developer plans million-dollar ranchettes in Alva

Buyer: Adar Investments LLC

Seller: Robert H. and Olivia E. Oliver

Property: 19211 Persimmon Ridge Road, Alva

Price: $5.4 million

Law firm on deed: Thomas E. Moorey, Attorney, Fort Myers

Plans, description: Adar Investments of Coconut Creek bought the 250-acre Amazing Grace ranch in Alva and plans to build about 50 "ranchette" homes on the property. The development, located near State Road 80 and Persimmon Ridge Road, will retain the name Amazing Grace and it will have an equestrian theme.

Adar plans to build "ranchettes," or single-family homes on five-acre lots measuring about 3,000 to 5,000 square feet with stables for horses. Home prices will start at $1 million, says Ayal Raz, president of Adar Investments.

Adar is working on the site plans and hopes to start construction within one year. Raz says he's confident there is demand for the homes and noted that he already has 10 offers on homes in the community. The company is currently building upscale homes in Fort Pierce and Coral Springs.

Adar Investments mortgaged the property to Union Planters Bank for $3.58 million.

Business park planned on Collier Boulevard near U.S. 41

Buyer: Rookery Bay Business Park LLC

Seller: Vinod Rustgi

Property: 40 acres on Collier Boulevard

Price: $5.2 million

Law firm on deed: Grant, Fridkin, Pearson, Athan & Crown, P.A., Naples

Plans, description: Rookery Bay Business Park of Marco Island purchased about 41 acres of land on Collier Boulevard about one mile south of U.S. 41 in Collier County. The property is zoned for a business park with a variety of uses, including lodging, offices and warehouse space, says Maury Dailey, who is overseeing the development. "Everything depends on getting the permits," says Dailey. "We're not doing any marketing until we get that done." He declined to provide further details. The company hopes to obtain permits later this year and start construction in the spring.

Custom-home builder

buys lots in Cape Coral

Buyer: The Fourth Phase-PDA Inc.

Seller: Steve Minger

Property: 10 lots in Cape Coral

Price: $2.3 million

Title firm on deed: Southern Trust Land Title, Cape Coral

Plans, description: Cape Covington, a Cape Coral-based developer, plans to build custom old-Florida style homes on 10 lots in Cape Coral, including two on the waterfront, near Surfside Boulevard and 23rd Street. The homes will cost from $375,000 to $1 million, says Jon Covington, the company's chairman.

The company also plans other developments on Pine Island, including homes on 75 acres near Bookelia and 15 acres in St. James City. Covington declined to provide more details on those projects.

Minnesota developer plans Fort Myers condos

Heritage Development of St. Paul, Minn., plans to build 224 condominiums in eight buildings near the corner of Summerlin and Pine Ridge roads in Fort Myers. The development will be called Gulf Lakes.

The condos will range in size from 1,600 square feet to 2,100 square feet and prices will range from $330,000 to $500,000 says Michael Saunders, president and chief executive officer of Michael Saunders & Co., a Sarasota-based real estate brokerage firm. Saunders has leased space across Summerlin Road and will sell the condos for Heritage.

In addition to the residences, the development will feature a 4,400-square-foot clubhouse with amenities such as a pool, a spa, a fitness center and tennis courts. Groundbreaking is scheduled for this fall.

Heritage's other developments are located in Sarasota, Bradenton and Englewood. This is the company's first Fort Myers project.

Etc...

-Brittany Investment LLC bought a 1.55-acre parcel of land in Hammock Woods at the corner of County Road 951 and Rattlesnake Hammock Road, Lot 11, in Naples from Ronald L. Davis, Trustee, for $1.6 million. The buyer purchased the land for investment purposes. Gary Tasman of VIP Commercial-TCN Worldwide represented the seller and Clark Jensen of Commercial Properties of Naples represented the buyer.

-Zong Xing Tang & Cindy Zhang TIC bought an 11,848-square-foot industrial building at 11741 Metro Parkway in Fort Myers from Southwest Florida Real Estate for $1.55 million. Scott Dunnuck and George Atkinson, both of CB Richard Ellis, represented the seller. A.J. Jiang of Priceless Realty represented the buyer.

-Aim Engineering purchased three-quarters of one acre at Billy Creek Commerce Center at 5401 Division Drive, Lot 125, from Vandalay Building Corp. for $386,813. The company purchased the lot for business expansion.

-The U.S. Department of Transportation has awarded $4.1 million to Page Field General Aviation Airport for the extension of an existing taxiway and the construction of a new taxiway to connect the airport's runways to a new aircraft ramp.

-Ryland Homes will open seven model homes in October at Promenade at the Forum, a new community near Colonial Boulevard and I-75 in Fort Myers. Prices for the first series of homes will be in the $400,000 range. The community will eventually have 402 homes.

-Boston Coffee Inc. has awarded J.L. Wallace a contract to build a Dunkin Donuts at 17810 San Carlos Blvd. in Fort Myers Beach. The building will measure 2,480 square feet.

-HornerXpress Gulf Coast leased 13,280 square feet of office and warehouse space at 2128 Andrea Lane in Fort Myers from Thomas and Karen Sabella. The company supplies pool and spa equipment to pool-maintenance professionals and this is its first Fort Myers location. Connie Barbour and Bill Mankin of VIP Commercial-TCN Worldwide represented the tenant and John Kremski of D'Alessandro & Woodyard represented the landlord.

-First United Mortgage has leased 3,689 square feet of office space in the Metro Park Business Plaza at 4110 Center Point Drive in Fort Myers from Citec Florida LLC. Scott Miller of CB Richard Ellis negotiated the transaction.

-Family Health Centers of SW Florida leased 3,529 square feet of medical-office space in the Bonita Professional Park at 28321-28341 S. Tamiami Trail, Suite B-4, in Bonita Springs, from DNA Properties. Gary Tasman and Brandon Stoneburner of VIP Commercial-TCN Worldwide negotiated the transaction.

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