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News & Notes

Naples golf club for sale, 'best and final offers' encouraged

In the week's top commercial real estate news, Port Charlotte apartments sell for $66.5 million, and an experimental Tampa redevelopment gets a new leasing agent.

  • By Louis Llovio
  • | 5:00 a.m. March 24, 2024
  • | 2 Free Articles Remaining!
The Golf Club of the Everglades in Naples is up for sale.
The Golf Club of the Everglades in Naples is up for sale.
Image via Golf Club of The Everglades / Facebook
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Naples/Fort Myers/Charlotte

The long game: The Pulte Home Co. has put the Golf Club of the Everglades on Vanderbilt Beach Road up for sale. In a letter emailed last week, Pulte says it is considering a “potential sale” and set the parameters of how to bid on the club. It also provided a detailed six-step outline on how the process will work. In the letter, signed by Scott Brooks, Pulte’s director of real estate, the company says it is looking for “a discerning purchaser who shares our commitment to preserving the historical exclusivity of the club” and that will work with the community around it. The letter does not state a price and Brooks did not answer questions about how much the company seeks for it. He does write that “we encourage interested parties to submit their best and final offers. In addition to price and terms of the offer, consideration will be given to the individual group, or company that we believe will be the best custodian for the preservation of Golf Club of the Everglades.” The private club is at 8835 Vanderbilt Beach Road. It sits on 261 acres and is surrounded by Pulte’s Greyhawk community. Rees Jones Inc. designed the course.

Construction has begun work on a facility for Fort Myers marine contractor Kelly Brothers.
Courtesy image

Float your boat: Construction has begun on a facility for Fort Myers marine contractor Kelly Brothers. The project is being built on the site of the company’s longtime home at 15775 Pine Ridge Road and replaces the existing building, which was heavily damaged during Hurricane Ian in 2022. Stevens Construction is the builder. The 26,963-square-foot industrial building will be two stories and will give Kelly Brothers space to expand operations, with 11 service bays, offices, a conference room, storage mezzanine and shell space. Work is expected to be finished in January. Kelly was founded in 1980 and specializes in marine construction, specifically, it says, artificial reefs, boardwalks, piers, boat ramps, bridges, docks, marinas and dredging.

Who's the boss? A group of LLCs based in New York have bought the Charlotte Commons Apartments in Port Charlotte. According to Charlotte County records, the four LLCs —TEG Charlotte Springs; TEG Charlotte Luther; TEG Charlotte EV; and TEG Charlotte Woodbridge — paid $66.50 million for the complex at 24150 Beatrix Blvd. The previous owner, Indiana-based SC Bodner Co., paid $3.5 million in 2020 when the land was vacant. According to the state’s Division of Corporations database all four of the companies share an Airmont, New York address that belongs to the Repag Accounting Group. On its site, Repag says it is a “boutique back office firm for multifamily real estate.” As such, it offers financial and operations services for property owners, including payroll, cash management, accounts payable and financial reporting. Not listed: property ownership. Repag did not respond to questions about whether it or one of its clients was the complex’s new owner. A news release from a firm saying it brokered the deal called the buyers “a New York operator together with Image Capital.” Image is a New York real estate investment firm. As for the community, the 253-unit Charlotte Commons opened in 2022. It is made up 11 buildings, each with 23 units ranging in size from 498 square feet to 1,235 square feet. 

Tampa/St. Petersburg/Pasco/Polk

Mall takeover: Commercial real estate firm JLL has taken over some of the leasing at Rithm at Uptown, the former University Mall near the University of South Florida. The firm’s Central Florida Healthcare Practice Group will be responsible for leasing the interior of the mall, including the spaces once occupied by Dillard’s, JC Penney and Burlington. Rithm at Uptown’s developer, RD Management, bought the mall in 2014 for $29.5 million. It describes the 100-acre property as an “innovation community” but, to date, it has all the markings of a traditional mixed-use center with Sprouts Farmers Market recently opening a store on the site and a hotel and apartment complex on the way. (The USF Institute of Applied Engineering also has space there.) JLL’s duty, according to a statement, is to help shift a “significant portion of its remaining space to the development of its health care component.” A spokesperson says that rather than working with local management, it will deal directly with RD’s headquarters office in New York.

The Sandpearl Resort on Clearwater Beach has just finished a major room renovation project.
Courtesy image

Room upgrade: The Sandpearl Resort on Clearwater Beach recently finished a major room renovation project. According to Opal Collection, the 253-room hotel’s owner, the work was completed just ahead of the start of the tourist season and is a “distinct departure from the previous ‘Old-World Caribbean’ room design.” This means a color scheme with more creams, beiges and whites to go along with “sea-inspired” blues throughout the rooms. Among the upgrades are new flooring, furniture, paint and the addition of walk-in showers and soaking tubs and couches, all pull outs. Suites with kitchens got new cabinetry, upgraded appliances and dishware. Rooms also got nightlight features under bathroom counters and mirrors, new venting systems guests can control and USB outlets. Opal owns 28 resorts along the East Coast of the U.S. Several of those are along the Gulf Coast, including properties in Sarasota, Naples and Longboat Key. A company spokesperson would not disclose the cost of the upgrade.

Room sale: The SpringHill Suites Tampa Brandon has been sold. The 103-room hotel was bought by a joint venture between Tampa-based Sonari Capital Partners and North Carolina-based Ark Development. A sale price was not disclosed and property records have not been updated. The previous owner was Impact Properties, which bought the property at 1051 S. Falkenburg Road in 2005 for $684,700. The hotel was built three years later. According to commercial real estate services firm Berkadia, which negotiated the deal on behalf of Impact and announced the sale, the new owners plan “a comprehensive renovation.” Sonari is a real estate investment firm which counts the hospitality sector as among its specialties. Ark's hospitality division owns hotels nationwide under more than 30 different flags. The company says it plans to complete $1 billion in projects by 2030.


The new owners of The Boatyard plan multiple upgrades.
Courtesy image

Sale boat: The Boatyard, a 2.03-acre mixed-use property on Siesta Key, sold for $8.9 million according to Sarasota County property records. The sale was announced in early February but the price for the prominent development wasn’t disclosed at the time. The buyer is Chris Brown, a Sarasota area entrepreneur, real estate investor and co-founder of the Above the Bar Hospitality Group. Brown and Above the Bar have not announced plans for the property, but have said there will be some upgrades. The Boatyard Waterfront Bar and Grill and Siesta Key Watersports are among the existing tenants at the property situated on the mainland adjacent to the South Bridge to Siesta Key. The property includes deeded canal-front access to Sarasota Bay, Little Sarasota Bay and the Intracoastal Waterway. Above the Bar’s holdings include Summer House, The Cottage, The Hub Baja Grill and The Beach Club.

If you have news, notes or tips you want to pass along, contact [email protected]. Or you can text or call 727-371-6944.



Louis Llovio

Louis Llovio is the commercial real estate editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.

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