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Real Estate Briefs
Sarasota/Manatee
Sunset Automotive closes on Darby dealership
BUYER: Geyer-Dickinson Partnership
SELLER: Darby Automotive Inc. and Darby Buick Inc.
PROPERTY: 5120 and 5170 S. Tamiami Trail, Sarasota
PRICE: $8.2 million
LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Sarasota
PLANS, DESCRIPTION: The Sunset Automotive Group recently bought Darby Buick Inc. - the oldest automobile dealership in Sarasota. Sunset Automotive Group started with Sunset Chevrolet on Bay Road and has grown to include 15 franchises at 12 locations, from Bradenton to Venice.
The Buick franchise will be located at 1850 Bay Road, next to the Sunset Pontiac and Sunset Chevrolet stores.
Buick joins the other General Motors franchises within the Sunset dealership chain, which also include Coast Cadillac, Crest Cadillac, Tropical Cadillac, Saturn of Sarasota and Saturn of Manatee and non-GM franchises, including Volvo, Infiniti, Kia, Porsche, Audi, Volkswagen, Dodge, Jeep, Mitsubishi, Suzuki and Subaru.
Sunset Automotive officials did not confirm which franchise would occupy the Darby property on U.S. 41.
Sunset Automotive mortgaged the property to SunTrust Bank for $6.56 million.
Sarasota developer prepares
for Devonshire Park
BUYER: Devonshire Park LLC, Sarasota
SELLER: Baykap Inc.
PROPERTY: Multiple addresses on Devonshire Lane, Sarasota
PRICE: $9.005 million
LAW FIRM ON DEED: Dunlap & Moran PA, Sarasota
PLANS, DESCRIPTION: Developer Marvin Kaplan transferred 2.88 acres from Baykap Inc. to his Devonshire Park LLC as he prepares to start construction on the 26-home Devenshire Park project.
Kaplan, who says the project is one of the first single-family home developments in Sarasota's downtown in at least 15 years, hopes to break ground in April, after they get final approval.
Kaplan says "the houses will be two levels and will have separate garages with apartments above them. The houses will really be old Florida with porches and tin roofs. They will look similar to what's already in Laurel Park."
The homes will start at just under $1 million. Kaplan hasn't selected a contractor yet, but plans to use SKY Sotheby's International Realty as the sales agent.
Two companies ACQUIRE Sarasota warehouse
BUYER: Aubgator LLC, Sarasota, and Eastside Village LLC, Palm Beach Gardens
SELLER: Marjon Sarasota Inc.
PROPERTY: 4575 Ashton Road, Sarasota
PRICE: $1.9 million
PREVIOUS PRICE: $225,000, December 1998
LAW FIRM ON DEED: Icard Merrill Cullis Timm Furen & Ginsburg PA, Sarasota
PLANS, DESCRIPTION: Two investment groups, Aubgator LLC, Sarasota, and Eastside Village LLC, Palm Beach Gardens, recently acquired an 18,000-square-foot warehouse building in Sarasota.
According to attorney Paul Beitlich, a manager with Aubgator, the purchase was done as an investment, and the warehouse is currently leased to SCP Pool Corp. Beitlich says SCP Pool recently signed a new triple-net lease on the space for the next 15 years.
The new owners mortgaged the property to Orion Bank for $1.52 million.
Etc...
• The Vernon Group has started construction on the gated entry off U.S. 301 and Old Tampa Road to the 178-home Rive Isle in Parrish. Four home builders - Pruett Builders, Arthur Rutenberg Homes/Bob Wilson, Lee Wetherington Homes and John Cannon Homes - plan to start construction of estate homes within the next four months. Only 36 home sites have been released for sale in the first phase at Rive Isle and half have been sold.
Construction is also expected to get underway on the $3 million River Lodge within the next four months. The 4,000-square-foot lodge will feature boat docks, kayak facilities and a grill area.
Lee/Collier
Wellington-based investor buys land in Collier County
Buyer: Royal Wellington Holdings LLC
Seller: Valewood Properties LLC
Property: 4567 and 4545 Executive Drive; 11160 Valewood Drive, Collier County
Price: $16.3 million
Previous price: $4.5 million, August 2003
Title firm on deed: Emerald Title Co., Naples
Plans, description: Royal Wellington Holdings bought 22 acres in Collier County's Quail Creek with plans to resell the property at a later date. Jonathan Edelman, the company's managing director, declined to comment further.
Edelman started the Wellington-based company a little over a year ago to acquire large parcels of real estate for residential development or resale. The company also looks for marinas and hotels and has plans for properties in Georgia and Nevada.
"As far as development is concerned, our group is looking to break ground on some highrises in the Tampa market in the near future," Edelman says.
Tampa company buys RV Park at Fort Myers Beach
Buyer: EBB Tide RV Park LLC
Seller: Wash Enterprises Ltd.
Property: 2201 Main Street, Fort Myers Beach
Price: $8 million
Attorney on deed: W. H. Grace, PA, Fort Myers
Plans, description: A company with a Tampa address bought a waterfront RV park in Fort Myers Beach. The company lists only Tampa attorney Carter McCain on filings with the state and McCain couldn't be reached. McCain, an attorney with the Tampa firm of McFarlane Ferguson & McMullen, specializes in environmental and land use involving government approvals, entitlements, financing and litigation. The Ebb Tide RV Park has 148 sites for recreational vehicles.
Adams Homes buys land in Lehigh Acres
Buyer: Adams Homes of Northwest Florida Inc.
Seller: Florida Land Financial Corp.
Property: 1920 Loyola Ave., Lehigh Acres
Price: $10.2 million
Attorney on deed: Emmanuel, Sheppard & Condon, Pensacola
Plans, description: Gulf Breeze-based Adams Homes bought about 50 acres in the Greenbriar area of Lehigh Acres where it plans to build 200 single-family homes. "We'll start construction in the next six months," says Renee Myllymaki, Adams Homes' sales manager in Fort Myers.
The homes will range in size from 1,410 to 3,000 square feet of living area and will cost from $250,000 to $298,000, including the lot. The company already is nearing completion of 50 homes less than a mile from the new location. Adams Homes has been building in Lehigh Acres since 2002.
Etc...
• Daniel Commerce Holdings LLC bought a 45,000-square-foot building on 4.5 acres at 13460 Daniels Commerce Blvd., Fort Myers, from Admiral Daniels LLC for $3.3 million. The buyer will operate a Tile Outlets of America store on the site. Paul Sands of VIP Commercial-TCN Worldwide negotiated the transaction in cooperation with Jack Thomas Realty.
• Attorney Darol Carr, as trustee, bought 17,000 square feet of industrial space at 5641 Zip Drive, Fort Myers, from PODS of Sarasota for $1.5 million. Robert Johnston and Jerry Messonnier, both of CB Richard Ellis, represented the seller. Bruce Prebble of Welsh Cos. represented the buyer.
• Motor Sports Management bought 11,000 square feet of warehouse space at 12271 Towne Lake Drive, Fort Myers, from Sussex Semiconductor for $1.4 million. Robert Johnston and Jerry Messonnier, both of CB Richard Ellis, represented the seller. Paul Sands of VIP Commercial-TCN Worldwide represented the buyer.
• TDJ Holdings bought 3.37 acres in Alico Commercial Park at 17025 Cam Court, Lot 3, Fort Myers, from JED/Allen Commercial Park for $2.2 million. Paul Sands of VIP Commercial-TCN Worldwide represented the seller and Phil Deems of Phil Deems Realty represented the buyer.
• Khosrow Moaveni bought 3.59 acres in Crystal Commerce Park at 12300 Crystal Commerce Loop, Lot 16, Fort Myers, from Evans Financial Services for $1.2 million. Paul Sands of VIP Commercial-TCN Worldwide represented the seller and Pamela Van Vleck, also of VIP Commercial, represented the buyer.
• The Lee County Commission leased 7,200 square feet of office space at 1017-1031 SE 9th Place, units 1,2,4 and 5, Cape Coral, from Weeping Willow Development of SW FL LLC. Tim Colen of D'Alessandro & Woodyard negotiated the transaction.
• Fort Myers-based Glory Homes has been awarded a contract to complete the interior of a 9,000-square-foot building in Daniels Center Office Park in Fort Myers.
• Nu Cape Construction, a division of Fort Myers-based Owen Ames Kimball Co., recently completed a 10-building, $35-million condominium complex called Island Cove in Cape Coral.
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