SMR: More commercial control could mean more leases

Here's a potential solution for Gulf Coast developers and landlords wrangling with how to survive the commercial real estate downturn: Take more control.

That's what Manatee County development firm Schroeder-Manatee Ranch has done with Lakewood Ranch Main Street, the largest retail-based thoroughfare in the giant master-planned community. To get that control, SMR recently acquired a 50% stake in Main Street from Casto Lifestyle Properties, a Sarasota-based retail and shopping development and management firm.

Now SMR holds full ownership of the project.