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Real Estate Briefs (Sara/Mana)
Vermont hoteliers buy Riviera Beach Resort
Buyer: Harold and Christine Cullison
Seller: Taylor International Enterprises Inc.
Property: 5451 Gulf of Mexico Drive, Longboat Key
Price: $4 million
Previous Price: $2.55 million, January 2003
Law firm on deed: Sorgini & Sorgini PA, Lake Worth
Plans, description: The Cullisons, innkeepers based in Old Bennington, Vt., have purchased the 11-unit Riviera Beach Resort on Longboat Key. Harold Cullison says that after the couple divested itself of a rental property on the East Coast, it turned its attention to the Longboat Key development.
"It's going to be run just like a typical rental cottage with limited service," Cullison says. "The couple that had owned it decided to move back to the United Kingdom. We've been approached by people asking us if we want to tear it down. That has never been our intention. We are really planning no major changes."
The Cullisons currently own the Four Chimneys Inn and Restaurant in Old Bennington.
As for what attracted the couple to the Longboat Key resort, Harold Cullison says he has been visiting Florida for several years, and that it was a rarity to find a rental property right on the beach.
Community Bank of Manatee
buys Manatee Avenue bank
Buyer: Community Bank of Manatee, Bradenton
Seller: HRB Property Corp.
Property: 7202 W. Manatee Ave., Bradenton
Price: $1.75 million.
Previous Price: $315,000, July 1992
Law firm on deed: Greene & Schermer, Bradenton
Plans, description: Community Bank of Manatee is moving its Manatee Avenue and Village Green Parkway bank branch about 500 feet north, says Bill Sedgeman Jr., chairman of the bank.
The bank has purchased an office building in the Beachway Plaza across from its current leased 900-square-foot bank branch location. The new building is about 3,200 square feet.
"We've been trying to acquire the site for two years now," Sedgeman says. "We've just outgrown our present location. We do about $40 million in assets from that branch."
Community Bank is performing some cosmetic renovations on the recently acquired building and plans to move its branch operations in October. The branch currently has two employees, but is expected to employ four at its opening and possibly six before year's end.
Maryland businessmen
plan estate development
Buyer: Sarasota One LLC (Gary Weisman and Henry Berliner Jr.), Sarasota
Seller: Marlene Mattie and Glorida Windel, individually and trustee, and Donna Kubala
Property: Fruitville Road, 600 feet before Verna Road, Sarasota
Price: $10 million.
Previous Price: $100, July 2002
Law firm on deed: Icard, Merrill, Cullis, Timm, Furen & Ginsburg PA, Sarasota
Plans, description: Businessmen Gary Weisman and Henry Berliner Jr., both of Annapolis, Md., purchased about 339 acres east of Interstate 75 to develop five-acre estate home lots. Weisman says John Cannon Homes, which has been hired to build Weisman's own personal home, is the home builder for the development. Homes will start at $2 million.
"They are taking reservation deposits now, and we plan to have lots available for sale in 18 months," Weisman says.
A total of 67 home lots are planned in the gated community.
Weisman owns a successful heating and air-conditioning business in Maryland and just opened a similar business in Sarasota called Tamiami Air Balancing and Commissioning.
Gary Weisman and Henry Berliner Jr.'s transaction company Sarasota One LLC mortgaged the property to the former owners for $6.67 million and to Branch Banking for $2.45 million.
Construction kicks off
for Tech House
The Home Builders Association of Sarasota County and Vision Homes have broken ground on the "Tech House" to be built in the new Trillium community east of Interstate 75 on Proctor Road.
The partnership's Tech House is designed to showcase the newest, most advanced technologies in the home building industry.
The two-story home will have 2,700 square feet under air, three bedrooms, three baths, a study, bonus room and three-car garage. Tech House dwellers will utilize a super-efficient 19 SEER air conditioning systems with fresh air exchangers. Lennox Pureaire filters will help prevent mold, mildew and allergens from entering the home. The concrete block walls are injected with expanding foam to increase their insulating qualities. The attic will have closed-cell foam insulation that exceeds today's conventional insulation levels. Specially framed double-pane insulated windows are "flying object" impact-resistant. One of the most anticipated safety features is the hurricane-safe room that will be incorporated into the laundry room. Solar hot water reduces water heater costs. A re-circulating hot water pump delivers hot water in seconds anywhere in the house. Ozone water filters purify the water supply. The toilets are flapperless and will not leak. Water-wise Florida-friendly landscape design with high-efficiency irrigation uses a fraction of the water normally consumed by plants. Natural, non-toxic materials, such as wool carpeting, bamboo and cork floors are used throughout. Most of the building materials used in the construction will be recyclable and fire-resistant.
A fiber-mesh concrete slab prevents foundation cracks. Pest control system tubes are located in the walls as well as the slab. The newest Monier roofing tiles are securely bolted on. Advanced wiring techniques will also enables every room to be Internet, music, cable and phone-ready, with a central control system for all vital functions, accessible from a remote location.
The Tech House will be open for viewing in August, and then sold, with a portion of the profits designated for local charities.
Developers prepping
for Foundation Park
Developer Pete Russell, president of SDR Development Inc., and Cathy Layton, of Layton & Co. Inc., have unveiled the design for their new office development Foundation Park. Located on 2.2 acres surrounding the new Community Foundation building on Fruitville Road, Sarasota, the development is planned as two, three-story buildings - a total of 42,000 square feet of Class-A office space. Space in the new buildings will range from 2,000 square feet up to 27,000 square feet.
Designed by Don Lawson, of The Lawson Group, the buildings will follow his signature Mediterranean Revival style and are configured to match the style of the Community Foundation building.
"With all the construction going on in downtown Sarasota, we felt this location was ideal for those who want the downtown convenience without the congestion," Layton says. "In addition, we offer the opportunity to own the space, not rent, creating equity for one's business while building one's business. It's a unique situation, and one being taken advantage of by more and more established business owners."
Construction for Foundation Park is expected to begin this summer for occupancy in mid-2006.
Etc...
• Troy Myers Jr.'s BHA LLC purchased the Beach House Resort, at 1000 Gulf Drive N., Bradenton, from Cortez Properties Inc. for about $3 million.
• Luxury waterfront builder Murray Homes has launched a realty division. Murray Realty's primary focus will be to sell Murray Homes' own projects and to find suitable properties for customers wishing to build new custom or spec waterfront homes. Murray Realty will be managed by broker Bev Murray, who spent five years working with Michael Saunders & Co. before setting up the new brokerage firm to run alongside her husband's luxury home building business.
• MSM-South Orange Ltd. purchased 13,116-square-foot office building at 635 S. Orange Ave., Sarasota, from 635 South Orange Partnership for $2.75 million. The new owner mortgaged the property to Orion Bank for $2.16 million.
• Brookfield, Wis.-based MLG Development purchased a shopping center, at 4808 14th St. W., Bradenton, from Morris Realty Co. LLC for $5.4 million. The new owner mortgaged the property to New South Federal Savings Bank for $4.6 million.
• Steven Sanders' Sanders Realty LLC purchased a medical office at 401 Manatee Ave., Bradenton, from Benderson Development Co. Inc. for $1.025 million. Sanders mortgaged the property to Compass Bank for $1.73 million.
• Bill Gryboski and Dan Howe of Decatur, Ga.-based Gryboski and Howe purchased an office building at 503 Manatee Ave., Bradenton, from Inland Southeast Holmes Beach LLC for $835,000. The new owner mortgaged the property to Compass Bank for $1.73 million.
• Bozeman, Conn.-based VFL LLC purchased commercial land at 252 and 262 S. U.S. 41 Bypass, Venice, from Venice Auto Mall Inc. for $790,000. VFL LLC mortgaged the property to Intervest National Bank for $592,500.
• Thomas and Joel Sivertson and Jay Raja bought industrial land on South River Road from Danron LLC for $440,000.
• KWWO, Kingdom Worldwide Web Operations Inc., an e-commerce marketing company, leased a 10,000-square-foot office at 1549 State St., Sarasota. KWWO will relocate its corporate headquarters and 17 of its employees from Gainesville to the new office. Kim Nielsen, owner of KWWO and Nielsen Classic and Contemporary Furniture, plans to convert a portion of its first floor space to accommodate a retail operation of modern Danish furniture. Karen Cook of Michael Saunders & Co.'s Commercial Group represented the tenant.
• Hamilton Square Holdings LLC purchased a 1,024-square-foot commercial building, at 200 N Tamiami Trail, Venice, from Craig and Lisa Stern for $180,000. Jag Grewal and Michele Fuller, of Coldwell Banker Commercial, represented the sellers, and Thomas D. Ward, of Waterside Realty LLC, represented the buyer.
• Coldwell Banker Residential Real Estate Inc. recently completed renovation of its downtown Mediterranean-style office at 100 N. Tamiami Trail, Sarasota. Built in the 1960s, the original one-story building had 2,400 square feet of office space and was originally used by Hertz Rent-a-car. In 1986, a second floor was added to the office of a former real estate firm. Coldwell Banker added about 2,000 square feet of new office space, including a new lobby, conference room and a mortgage and title closing office.
"I am so pleased with the results of the renovation. Aesthetically, it just does so much for the image of our downtown office," says Lynn Robbins, a sales associate with Coldwell Banker.
• Barbara Ackerman, a Previews International Sales Associate with Coldwell Banker Real Estate Inc.'s Longboat Key office, recently sold a custom-built waterfront home on 2400 N.W. 90th Street in Manatee County for $5.5 million. "To my knowledge this is the highest priced home ever to sell in Manatee County and has raised the benchmark for residential sales," Ackerman says.
The 8,500 square foot, 5-bedroom and 7-bath home features a gourmet kitchen with double appliances, a custom cherry wood entertainment center, a stone fireplace, pegged oak floors, a state-of-the-art security system and a heated swimming pool.
• FORTUNE magazine ranked Tampa-based Centex Corp. as the top of the magazine's annual list of "America's Most Admired Companies."
FORTUNE selects "America's Most Admired Companies" from among the largest U.S. Companies in 65 industry categories. In evaluating companies in their respective industries, FORTUNE asked more than 10,000 executives at these companies to rate candidates on innovation, use of assets, employee talent, management, social responsibility, financial soundness and products and services.
Locally, Centex Homes employs more than 100 people.
• Sarasota County government has dedicated the environmentally friendly Community Services Green Office Complex. The complex consists of two office buildings - a new building completed recently and a renovated building that was originally constructed in 1971 as part of a training complex for the Kansas City Royals baseball team.
The two buildings include administrative offices for Sarasota County Community Services (Libraries, Parks and Recreation, the History Center and the University of Florida/IFAS-Sarasota County Extension). The new building, which houses the extension offices, also includes an education center for public programs and meetings.
The Green Office Complex includes a sustainable site with Florida-friendly landscaping and erosion and sedimentation control; water efficiency in landscape design and interior water usage; energy-efficient heating, ventilation and air conditioning; the use of recyclable materials throughout the building; and low-emitting materials and natural lighting in the interior spaces.
• The ADP Group announces the addition of Abitar Contract Furnishings, a full-service interior design and procurement company. Abitar will offer services for furniture, space planning, fabric & finish selections, specifications, project management, accessories, artwork, lighting, carpeting, wall covering, window treatments, custom millwork, refinishing, upholstery work, inventory of existing products, delivery and installation.
Shelley Lister is the president and managing partner in this new endeavor. Shelley is currently vice president of business development for The ADP Group, and will continue in that roll, as well. Shelley has more than 25 years of experience in the contract furnishings and the interior design industry.
Allan Shaivitz will serve as vice president and will be responsible for sales and operations. Allan previously owned an interior design and contract furnishings business for over 30 years in Baltimore, Maryland.
• Wal-Mart Stores purchased about 32 acres on Fruitville Road, Sarasota, from the New York Times Co. (NYT Management Services Inc., NYTRNG Inc. and Sarasota Herald Tribune) for $13.7 million.
• Advanced Mortgage Professionals Inc. purchased the building it currently operates from at 4509 Bee Ridge Road, Sarasota, from APBR Inc. for $405,700. Advanced Mortgage mortgaged the property to Bank of Commerce for $243,390 and to APBR Inc. for $162,260.
• E. Chester Stokes, Jr., R. Scott Griffith, Thomas Bergmann and John Kinkel (Parrish Plantation LLC) sold orchard and grove land at 7319 Spencer Road and 13320 Circle Road 675, Parrish, from Larry and Deborah Parrish for about $1.1 million.
• East Ellenton Enterprises Inc. purchased Applebee's Neighborhood Bar & Grill, 5908 18th St. E., Ellenton, from Benderson Development Co. Inc. (Buffalo Greenbriar Associates LLC and WR-1 Associates Ltd.) for $800,000. East Ellenton Enterprises mortgaged the restaurant to Coast Bank of Florida for $800,000.
• Robert Martin's Professional Place LLC purchased a vacant tract of land in the Creekwood tract from Creekwood Investors Ltd. for $851,162. Professional Place LLC mortgaged the property to First State Bank for $1.9 million.
• Bradenton's SMG Property Management (SM 17th Avenue LLC) purchased an auto repair shop at 605 17th Ave. W., Bradenton, and a warehouse at 629 17th Ave. W., Bradenton, from Laser Works Inc. for $800,000. SM 17th Avenue LLC mortgaged the property to Wachovia Bank for $600,000.
• Comfort Bath Walk In Tubs of Florida LLC leased 1,350 square feet of office space at 3212-A Gulf Gate Drive, Sarasota, from VSK Enterprises LLC. Marcia Cuttler, of American Property Group, represented the landlord, and Matilda Bellanger, of Keller Williams Platinum Realty, represented the tenant.
• 300 Pineapple LLC purchased a small office building on 15,609 square feet of commercial land at 300 S. Pineapple Ave., Sarasota, from Anita Katzman for $1 million. John Harshman, of Harshman & Co. Inc., represented the seller.
• Jamieson Properties LP purchased a 8,000-square-foot warehouse, located at 4380 Independence Court, Sarasota, from M&A Enterprises LLC for $750,000. John Harshman, of Harshman & Co. Inc., represented the seller.
• Anna Frankowska's Anna's Oasis Grill LLC bought property at 205 S. Park Blvd., Sarasota, from Stanisla and Eugenia Szalbirak for $650,000. Anna's Oasis Grill mortgaged the property to Stainslaw and Eugenia Szalbirak for $500,000.
• Sarasota-based European Marble Co. bought a 5,300-square-foot industrial building at 1750 N. Lime Ave., Sarasota, from Brian and Murielle Wallace, individually and revocable trust, for $576,800. At the same time, European Marble purchased property at 1811 Seeds Ave., Sarasota, from Helen Abelt, individual and trust, for $335,000. European Marble currently operated from 1820 N Lime Ave.
• Fred Streck's Tampa-based Priority Developers Inc. acquired the Woodlands Golf Course, located at 5901 Erie Road, Ellenton, from Hole in One Sarasota Inc. for $3.2 million. In December, Priority Development bought several acres of vacant land on Upper Manatee River Road from Country Meadows LLC for $3.9 million. Streck is the former owner of Bearss Avenue in Tampa and developed property in Tampa Palms Professional Center and a 126-home subdivision near Suncoast Parkway and State Road 54.
• Claude and Lydia Melli's Brandon-based Florida Land Management Inc. purchased about 40 acres of orchard land in Duette from Ella Day for $360,000. In March, Florida Land Management Inc. purchased a 200-acre orange grove between Myakka City and Wachula from Arrowhead Management Inc. for $1.4 million.
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