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Business Observer Monday, Apr. 17, 2006 13 years ago

Real Estate Briefs (Lee/Collier)

Investment company buys lots in River HallFort Myers investors planning office, retail developmentGE Commercial buys Robb & Stucky building
by: Adam Hughes Staff Writer

Real Estate Briefs (Lee/Collier)

Investment company buys lots in River Hall

BUYER: Hearthstone Multi-asset Entity B LP, San Rafael, Calif.

SELLER: Hawks Haven Golf Course Community Developers LLC

PROPERTY: Various lots in River Hall County Club, Alava

PRICE: $11.75 million

LAW FIRM ON DEED: Henderson, Franklin Starnes & Holt PA, Fort Myers

PLANS, DESCRIPTION: Encino, Calif.-based Hearthstone Inc. purchased 116 lots in River Hall County Club, Alava. Hearthstone is one of the largest companies devoted to investing institutional funds in residential developments in the country.

Officials for the investment giant were not available to comment.

Hearthstone has offices in San Francisco, Los Angeles, San Diego and Chicago. With close to $1 billion in annual revenues, the company has closed more than 65,000 homes and lots.

Fort Myers investors planning office, retail development

BUYER: STR & Associates LLC (principal: Samir Cabrera), Fort Myers

SELLER: Secure Holdings LLC

PROPERTY: property on Fiddlesticks Boulevard, Fort Myers

PRICE: $3.015 million

LAW FIRM ON DEED: Security Title & Abstract LLC, Fort Myers

PLANS, DESCRIPTION: An investment group has purchased 9.2 acres on the west side of Fiddlesticks Boulevard in Fort Myers. Samir Cabrera, managing partner for STR & Associates LLC, says the property has already been transferred to another investment group he runs along with Todd Turner, Ian Schmoyer, Raymond Demarco, Gilberto Ruiz, A.J. Joseph, Kevin Rosenthal and Don Turner.

According to Cabrera, the investment group plans to develop both sides of the road for a total of 200,000 square feet of professional and medical office and retail condominium space.

C.C. Turner Inc. will handle all the design work, permitting and construction of the development.

Cabrera, Rosenthal and Don Turner are all Realtors with the commercial real estate firm of D'Alessandro & Woodyard.

GE Commercial buys Robb & Stucky building

BUYER: GE Commercial Finance Business Property Corp., Bellevue, Wash.

SELLER: Robb & Stucky Ltd. LLLP

PROPERTY: 14380 S. Tamiami Trail, Fort Myers

PRICE: $2.2 million

PREVIOUS PRICE: $750,000, February 1998

LAW FIRM ON DEED: Denis Noah, Fort Myers

PLANS, DESCRIPTION: GE Commercial Finance acquired the 12,235-square-foot Robb & Stucky Patio building on Tamiami Trail in Fort Myers. GE Commercial Finance officials did not return calls to comment about the purchase.

Stamford, Conn.-based GE Commercial Finance provides growth capital, credit, equipment leasing and asset financing to businesses.


• North Naples Fire Control & Rescue District purchased 6.8 acres at 810 Nursery Lane, off Immokalee Road in north Naples, from Exeter 1031 Exchange Services, LLC for $2.68 million. Fred Kermani, CCIM of CB Richard Ellis, represented the seller and Kevin Pelitera of Prudential Realty represented the buyer.

• Campbell Roofing & Sheet Metal Inc. acquired a 5,000-square-foot industrial building at 6340 Arc Way in Fort Myers from Metro Holland, LLC for $515,000. Scott Dunnuck and George Atkinson, both of CB Richard Ellis, Fort Myers-Naples, represented the seller, and Jack Britton of Professional Realty Consultants represented the buyer.

• Homestead Road LLC purchased a 20-acre site on Homestead Road, just north of Milwaukee Boulevard in Lehigh Acres from Michael Strayhorn for $1.15 million. Frank D'Alessandro & Tom Woodyard of D'Alessandro & Woodyard Inc. Commercial Realtors negotiated the transaction.

• Donald Lucas and Eddie Neese purchased a 1.41 acre site at 7012 Maida Lane in Fort Myers from Mary O'Neill for $643,550. Frank D'Alessandro & Tom Woodyard of D'Alessandro & Woodyard Inc. Commercial Realtors represented the seller and Donald Lucas of Future Realty Services Inc. represented the buyer.

• Chason Punta Gorda LLC purchased a 1.29-acre site on U.S. 41, south of Tuckers Grade in Punta Gorda from Chester Twardzicki Trustee for $595,000. The site will be used to build a showroom for Golf & Electric Carriages, the exclusive dealers for Club Car. Paul Sands and Mike Doyle of VIP Commercial-TCN Worldwide negotiated the transaction.

• Rash Enterprises LLC purchased a former O'Sullivan's Irish Restaurant at 13300 N. Cleveland Ave., North Fort Myers from Paul Morrison Inc. for $239,000. John Humphrey of Coldwell Banker Commercial NRT handled the transaction.

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