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Business Observer Friday, May 28, 2004 14 years ago

Real Estate Briefs (Sara/Mana edition)

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This week's items: Parking garage design suggests office/retail lookBuilders buy historic downtown propertyNew Marble Slab Creamery opens in Sarasota PavilionSchroeder-Manatee Ranchprepares for arena land sale

Real Estate Briefs (Sara/Mana edition)

Parking garage design

suggests office/retail look

Fawley Bryant Architects Inc. of Bradenton is proposing a unique design for a Manatee County Judicial Center parking garage. In order to avoid the ubiquitous complaints that follow municipal garage projects, the architectural firm is using a creative facade design to make the 559-space garage look like just another office building in the downtown core. In fact, the bottom floor of the garage is designed to be easily convertible from 97 parking spaces into retail or office space.

"We want the county to have the option if it doesn't mind losing the spaces to accommodate a big tenant," Rick Fawley says. The more than 200,000-square-foot five-story garage design avoids the common large horizontal openings and instead creates window-sized openings, which will likely be screened rather than enclosed, with arches to create the office-building illusion. The design also uses towers and differing articulation and roofing to breakup the appearance of the large structure.

While the design will cost slightly more than a typically municipal garage, changes will only alter the facade making the additional costs negligible.

Builders buy historic

downtown property

Lisa and Donald Murphy of Sarasota's D.E. Murphy Constructors Inc. purchased the about 78-year-old former Sarasota Times building, at 1216 First St. in downtown Sarasota, from Jaguar Realty LLC for $1.4 million. "We bought it because he (Donald Murphy) absolutely loves the building," Lisa Murphy says. "He is working with the city to explore what can be done on the site. We are planning to try to restore the exterior to as close to the original as is possible. The inside is basically gutted, but the shell is really solid. It has been neglected, and it's a challenge for us as builders."

How expensive will restoring the downtown mainstay be? She says the exterior renovation alone will cost about $1 million. "It is going to be a tough nut to crack," Murphy says. "We have some ideas for the building, but we are not willing to divulge them just yet. Right now we are investigating it ... trying to find out the history of the building. We know it has such a rich history; there are even rumors that it's haunted."

The building, built in 1926, was designed by Dwight James Baum, the architect behind Ca'd'Zan and the Sarasota County Courthouse.

New Marble Slab Creamery

opens in Sarasota Pavilion

The local Marble Slab Creamery franchisee has opened a new store at Sarasota Pavilion, at 6599 Tamiami Trail next to Panera Bread. The store is the first Marble Slab Creamery location in Sarasota. Last year, Paresh Hudka, owner of two franchise companies: Hudka Brothers Corp. and PC Hudka Corp., brought the first Marble Slab Creamery store to the Sarasota/Manatee County area in a retail center at 8366 Market St. in Lakewood Ranch Town Center.

Next up on Hudka's schedule is expansion into Fort Myers.

"We have the franchise rights down there too," he says. "We are going to build a store down there, and depending on how it does, we will either look at a second store in Fort Myers or start looking back up here. We are looking at putting one in Lido Key in the future, but there are already five ice cream shops out there. It would have to be a great location. We definitely are considering a couple more (for the Sarasota and Manatee counties area)."

Schroeder-Manatee Ranch

prepares for arena land sale

The developer of Lakewood Ranch, Schroeder-Manatee Ranch Inc., has transferred about 850 acres at 11525 State Road 70 E. to an internal subcompany called SMR North 70 LLC. According to Sondra Guffey, media relations director for SMR, and other SMR personnel, the property contains land designated for the SMR/DVA Sports LLC $65-million 7,400-seat arena, a planned mixed-use area surrounding the arena, a large natural preserve and additional property.

"This is purely a mechanical change prior to closing," says Rex Jensen, president of SMR.

DVA Sports is scheduled to purchase the 60-acre arena site sometime in the next few weeks. Both Jensen and Chuck Madden, of DVA Sports, declined to release the sale price for the arena property.

"We have had some very general discussions (on the surrounding mixed-use property) ... trying to weave it into the arena, but this has been tentative work at best," Madden says. "We hope to have the final building permits by June ... and still anticipate that the project will be substantially complete by mid-September 2005."

The deeded property listed a taxable value on the property of about $6.4 million.

Developer Teitelbaum, wife

buy Tradewinds Resort

Bradenton Beach developer David Teitelbaum and his wife, artist Penelope Naylor, completed the purchase of the 35-unit Tradewinds Resort, at 1603 Gulf Drive N., from Tradewinds of Anna Maria LLC for $4.75 million. In addition, the new owners agreed to pay off a remaining mortgage, which Teitelbaum says brings the total purchase price up to about $6 million.

"We are rehabbing and refurbishing the units," he says. "My plan is to convert the existing units into condominiums. We have filed a declaration with the state." The new owners are marketing the units which run about 400 to 600 square feet, for sale for between $275,000 and $310,000. Teitelbaum hopes to be able to close about 23 condominium units next week. Similar to his Tortuga Inn, the resort will be managed by ResortQuest International Inc.

RMC Property Group

receives permits for Publix

Tampa-based RMC Property Group has received three important building permits from the city of Bradenton for a 45,000-square-foot Publix Supermarket in the Beachway Plaza, at 7208 Manatee Ave. W. In March, the company purchased the ailing 125,000-square-foot center, on Manatee Avenue near the intersection of 75th Street in Bradenton, from Beachway Associates for $3.5 million. The estimated cost of constructing the new supermarket, according to the three permits, is expected to be about $6.19 million.

RMC Property Group officials hope to have the new Publix completed before the end of the year. The company also plans to refurbish the entire center making it more of a class-A property.

Two restaurateurs plan

Rib Crib on 53rd

Don Barclay and Mark Gard purchased a former Denny's restaurant building, at 5775 53rd Ave. E. in Bradenton, from HRG Florida LLC for $730,000. Barclay and Gard are planning to renovate the building and reopen it as a Rib Crib. "This is a concept we have been operating in Lakeland for the past four and half years," Barclay says. "We are really excited about bringing it to Bradenton. It's basically just a barbecue joint, but we focus on having quality food and good customer service. The Lakeland site is the only one so far in the Southeast."

The two partners, who expect to employ about 50 people, plan to renovate the 4,200-square-foot restaurant for an opening in mid-fall.

"We are hoping to grow the business," says Barclay. "Our original business plan called for three to four different (restaurants), but it is going to depend on the timing and the available locations."

The two partners, who used the corporate name of DM of Bradenton LLC for the transaction, mortgaged the property to Platinum Bank for $584,000.

Entrepreneur buys buildings,

starts A+ Growing Academy

Wanda Reaves purchased a three-building childcare complex, at 800 10th Ave. W. in Palmetto, from Opportunities Unlimited Inc. for $800,000. "We bought an existing family childcare business and the buildings," Reaves says. "We took over ownership on (May) 11th."

Reaves, who started the A+ Growing Academy Inc. on the site, has been working in the childcare industry for the past decade.

"I had been looking for a childcare center (to buy) for the past five years," she says. "We came across this building about two years ago and have been working ever since to buy it. These buildings have been up for sale for five years."

She now employs 14 people to teach 150 children. She plans to expand the size of the business to handle closer to its licensed maximum, 225 children.

"It's just a matter of meeting people and building relationships," Reaves says. The complex is right across the street from Palmetto Elementary School.

Reaves mortgaged the property to BLX Capital LLC for a total of about $738,000.

Etc...

× Boytomsor Inc. leased about 2,500 square feet of retail space at 1521 Main St., Sarasota, from Helen Pettey. John Harshman, of Harshman & Co. Inc., handled the transaction.

× Kelly Kary, of Sarasota Olive Oil Co., leased 1,000 square feet of retail space at 514 Central Ave., Sarasota, from Tri-Star Investments Inc. Steve Horn, of Ian Black Real Estate, handled the transaction.

× The Gerald Larsen Trust purchased the SunTrust Bank building, at 3300 N. Tamiami Trail, Sarasota, from The 3300 N. Trail LLC for $1.08 million. James Barnett PA, of Ian Black Real Estate, handled the transaction.

× 161 McKinley LLC purchased the 4,200-square-foot office building at 6290 Professional Parkway, Lakewood Ranch, from FCCI Insurance Co. for $740,000. Bill Kleiber, of Richardson, Kleiber, Walter Real Estate, handled the transaction.

× Bradenton-based Bruce Williams Homes reported record sales of new homes in April. Peter Mason, vice president of sales and marketing at Bruce Williams Homes, says the homebuilder sold 64 new homes in April in nine neighborhoods in five Manatee County communities. Since January, Bruce Williams Homes has sold a total of 165 new homes.

× Dr. Terrence Hopkins, with Manatee Dermatology, purchased a 2,865-square-foot building, at 6011 Cortez Road W., Bradenton, from Newport Westbay Ltd. for $725,000. It was believed that the new owner plans to demolish the existing structure, but no additional information was immediately available.

× Alan Brooks' West Coast Oil Inc. purchased land from Lakewood Ranch Commercial Park for $667,012.

× Bass Lake Properties LLC purchased commercial land at 5435 14th St., W., Bradenton, from RBM Properties Inc. for $650,000. Bass mortgaged the property from K&F Land Co. for $810,000.

× The Founders Club, a golf course community in Sarasota, has opened a sales gallery in the Gateway Professional Center, at 301 N. Cattlemen Road, Suite 205, Sarasota.

The new community will include 262 homes on 700 acres, a 24,000-square-foot clubhouse and a golf course designed by Robert Trent Jones Jr. The Founders Club is being developed by Thomas Brown and Jay Tallman, of U.S. Assets Group, and Fred Starling, of The Starling Group.

× Tivoli Homes of Sarasota's new model home in The Hammocks "The Anniston" was recently chosen Best Overall in its category by the judges of the 2004 Parade of Homes. The model home also earned awards for Best Kitchen, Best Master Suite and Best Architectural Detail. The homes feature high ceilings, indoor and outdoor fireplaces, a large pool with a paver brick deck and outdoor kitchen and a 95-inch screen in the home theater.

The Hammocks is located on Bee Ridge Road, east of Interstate 75, past Laurel Oak Golf and Country Club.

× The IAM Healing Arts Center has opened a new facility at 1918 Robinhood St. in Sarasota.

× Gulf Coast Refrigerants Inc. is relocating from its offices at 6292 Tower Lane into a 12,000-square-foot industrial building in Interstate Lake Industrial Park. K. Wayne Murray, of Denmark, Maine, purchased the buildings from David W. and Lynette Hinman for $1.035 million for his daughter's, Julie Olsen, and her husband's commercial refrigerant business. Murray also purchased all the equipment of the former Oddy Perfection Engine Shop and has hired Horn Auctions in Cleveland to auction it off in July. William Rex, of Preferred Commercial Inc., handled the transaction.

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