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Business Observer Friday, Sep. 30, 2005 12 years ago

Real Estate Briefs (Sara/Mana)

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Neal plans to buy palmetto golf courseWaterford Cos. Buys Laurel LandRichmond American Homesbuys Parrish landRWL Communications partners buy former U.S. Tank buildingSarasota investment group buys Downtown restaurantDentist buys medical office
by: Adam Hughes Staff Writer

Real Estate Briefs (Sara/Mana)

Neal plans to buy palmetto golf course

Home builder/developer Neal Communities has recently entered into an agreement to purchase the Palmetto Pines Golf Course property, located at Golf Course Road in Parrish. While the home builder/developer does expect to develop on the property, it plans to keep the golf course open for the near future.

"Some people thought the course may close soon because of the agreement to sell but that is simply not going to happen for a couple of years," says Randy Bates, course manager.

Dale Weidemiller, president of Neal Communities Land Development Inc., says "the course will remain open until the vision and plans are approved. It is premature to discuss what the plans are, but, for the time being, this great course will be open for play and will most likely remain open for more than two years."

Waterford Cos. Buys Laurel Land

Buyer: Waterford at Laurel Park North LLC (principal Michael Miller), Venice

Seller: Triple Diamond Commerce Plaza LLC

Property: Northeast quadrant of Laurel Road and Knights Trail Venice

Price: $21 million

Previous Price: $6 million, April 2002

Law firm on deed: Abel Band Russell Collier Pitchford & Gordon, Sarasota

Plans, description: The Waterford Cos. has purchased about 73 acres on Laurel Road to develop a residential and commercial project called Laurel Park North. Pat Waguespack, site and development coordinator for The Waterford Cos., says that the site plan is still influx, but that most likely about 20 acres of the development will be designated for commercial uses.

"We have gone in for a rezoning on the [planned industrial development] land to [general commercial]," Waguespack says. "On another part of it we are trying to rezone" for multi-family units.

"We are planning some of the residential right off Laurel," says Waguespack, "but the majority of it will be to the northwest more along Knights Trail."

Mike Miller, president of The Waterford Cos., has also announced plans to build a movie theater on the site. Waterford mortgaged the property to Orion Bank for $19.1 million.

Richmond American Homes

buys Parrish land

Buyer: Richmond American Homes Florida LP, Denver

Seller: Palmer Oaks LC

Property: 7421 and 7403 69th St. E. and additional property in Parrish

Price: $6.4 million

Previous Price: $1 million, January 2005

Law firm on deed: Porges Hamlin Knowles Prouty Thompson & Najmy PA, Bradenton

Plans, description: Denver-based Richmond American Homes Co. has purchased about 38 acres in Parrish for a residential development. The property was recently rezoned from residential single-family to planned development residential for a total of 108 lots. According to its Web site, Richmond American Homes is the largest home builder in Colorado and currently builds in 14 states. Locally, the company operates from a Tampa office.

Calls to American Homes Co. were not returned.

RWL Communications partners

buy former U.S. Tank building

Buyer: WLS Holdings LLC (principal Bob Schmitz and Bob Lee), St. Petersburg

Seller: U.S. Tank & Cryogenics Equipment Inc.

Property: 2001 Limbus Ave., Sarasota

Price: $975,000

Previous Price: $510,000, June 2001

Title firm on deed: American National Title LLC, Largo

Plans, description: Partners Bob Schmitz and Bob Lee, who also own the Bradenton communications firm of RWL Communications Inc., have bought a roughly 13,000-square-foot warehouse on Limbus Avenue.

"We're not sure exactly what we will do there," Schmitz says. "We are going to upgrade it a little bit, mainly inside changing things like the carpet." RWL Communications, which is moving from leased space in Bradenton, will likely occupy about 7,000 square feet of the property. Schmitz says the two partners will likely lease out the remainder of the space.

WLS Holdings LLC mortgaged the property to AmSouth Bank for $816,000.

Sarasota investment group

buys Downtown restaurant

Buyer: 301 SP LLC, Sarasota

Seller: Banyan Management Inc.

Property: 301 S. Pineapple Ave., Sarasota

Price: $1.05

Previous Price: $280,000, May 1998

Law firm on deed: Williams Harrison Dietz & Getzen, Sarasota

Plans, description: An investment group has purchased a 1,629-square-foot restaurant building on Pineapple Avenue in downtown. James Turner, attorney for the new owner, 301 SP LLC, says the purchase was viewed as an investment by the new owners and there are currently no plans to change the building.

"The building is going to remain Mickey's Urban Bites Restaurant for the near future," Turner says. Turner declined to comment on the identity of his client.

301 SP LLC mortgaged the property to Northern Trust Bank for $1.25 million.

Dentist buys

medical office

Buyer: David Sundeen, Sarasota

Seller: Margaret Black, individual and trustee of the Margaret Black Revocable Trust

Property: 3920 Bee Ridge Road, Sarasota

Price: $750,000

Previous Price: $230,000, June 1985

Law firm on deed: David Bone, Sarasota

Plans, description: Dr. David Sundeen, the dentist/owner of Sarasota Dental Excellence, purchased a 3,528–square-foot medical office building. According to an officer for Sarasota Dental Excellence, Sundeen purchased the property as an investment. The office building is currently fully leased to cardiologist Dr. Henry Black, psychologist Dr. Richard Capriotti and physician Dr. Anit Ford.

Sundeen mortgaged the property to the former owner for $675,000.

Etc...

• Wisconsin-based Big Lake Estates LLC and Elio and Sud Covelli bought the Carlyn Estates Trailer Park, 5611 Bayshore Road, Palmetto, from Gary Gregory and Harry Bell for $3.9 million. The new owners mortgaged the mobile home park to Banks of Wisconsin for $3.12 million.

• Cameron, Farren, Jerry and Rodney Dakin, owners of the Cameron Dakin Dairy of Myakka City, purchased about 202 acres of grove land at 6005 Juel Gill Road, Myakka City, from Jo Gill Murray and John Miller for $1.55 million. The Dakin family mortgaged the property to Metropolitan Life Insurance Co. for $5 million.

• Brian and Diane Anderson purchased units G-1 and G-2 of Lakeshore Village Plaza, 3900 Clark Road, Sarasota, from Tommy K. LLC for $770,000. Rico Boeras PA of Preferred Commercial Inc. represented the buyer.

• Palmetto's Countyline Ranch LLC, of Harllee Packing, purchased 355 acres of grazing lands, located at 7300 Clay Gully Road, Myakka City, from David and Carole Council for $1.07 million. Countyline Ranch LLC mortgaged the property to Gold Bank for $859,932.

• Sheryl and Michael Edwards purchased a 7,500-square-foot office/warehouse at 7220 24th Ave. E., Bradenton, from D&D Dynasty Building Inc. for $465,000. Mike Sporer and Steve Pimlott of Bosshardt Realty Services Inc. represented the sellers, and Mike Edwards of Edwards Commercial Realty Inc. represented the buyers.

• Vicinni Holdings LLC purchased 1.6 acres of land at 7203 21st Street E., Sarasota, in Centre Park condominium from DFM/Sarasota Properties LLC for $193,750. Carl Wise of Preferred Commercial Inc. represented the buyer.

• WLS Holdings LLC purchased the 13,424-square-foot former U.S. Tank building, located at 2001 Limbus Ave., Sarasota, from St. Armands Title Services LLC for $975,000. Carl Wise of Preferred Commercial Inc. represented the seller, and Tony Veldkamp of Michael Saunders & Co. represented the buyer.

• Kevin Daves and Richard Lam's Concession Land Development LLC have transferred about 506 acres of golf course land, located at 7720 Lindrick Lane in eastern Manatee County, to a company they also own called Concession Golf Club LLC, for $3.6 million. Concession Golf Club LLC took out a mortgage with First National America Inc. for $16.8 million.

• Catherine Meinhart's Long Creek Acres LLC purchased about 147 acres of land east of Myakka-Wauchula Road in Manatee County from Montgomery-Roberts Associates for $1.66 million. The new owner mortgaged the property back to Montgomery-Roberts Associates for $1.66 million.

• E. Frank Goodrich, Trustee and Louise Goodrich Living Trust purchased a mobile home park, 5811 14th St. W., Bradenton, from Carson City, Nevada-based Panda Properties LLC for $1.5 million. Louise Goodrich Living Trust mortgaged the property to LaSalle Bank for $1.15 million.

• The Sarasota County Government's Twin Lakes Park Green Office Complex has received LEED (Leadership in Energy and Environmental Design) Gold certification from the U.S. Green Building Council. The complex is only the fifth facility in Florida to earn the gold rating. The county's North Sarasota Public Library earned LEED Gold certification this summer. LEED-certified buildings and grounds are "environmentally responsible, profitable and healthy places to live and work," according to the building council.

Twin Lakes Park Green Office Complex, located at 6700 Clark Road, Sarasota, consists of a new building and a renovated building that was constructed in 1971. The property is home to the administrative offices of Sarasota County Community Services (History Center, Libraries, Parks and Recreation and the University of Florida/IFAS-Sarasota County Extension).

• Heritage Development has selected Impression Builders to build its Florida communities. Impression Builders previously built single-family home developments such as Oak Vistas and Ashton Pointe in Sarasota. Impression Builders is also building mixed-use developments at Gulf Lake Condominiums in Ft. Myers and Windwalker Marina in Englewood.

• The Board of Sarasota County Commissioners has awarded a $29.7 million contract to Prince Contracting Co., Inc. of Palmetto for a major roadway construction project to widen Center Road from River Road to Jacaranda Boulevard, and to improve the Jacaranda/Center intersection in Venice.

The project consists of widening about a 3.5 mile stretch of existing two-lane roadway into a divided four-lane road with landscaped medians, street lights, 4-foot bicycle lanes, traffic signals, roadway drainage and stormwater ponds. A 10-foot-wide combination path and sidewalk would be built on each side of the roadway as part of the county's trails system.

• Lennar Homes has broken ground on its 106-unit townhome community at Stoneywood Cove in Venice, just off I-75, exit 191, along River Road and north of Center Road. Slated for completion in Fall 2006, the Stoneywood Cove Townhomes will have 11 buildings, each with eight to 10 units. Lennar Communities has built more than 12,000 homes in 25 local neighborhoods.

• Goodman Family Limited Partnership has acquired a roughly 74,000-square-foot warehouse at 2150 Whitfield Industrial in Manatee County. Are Sarasota Limited Partnership sold the building for $3.6 million.

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