- December 13, 2025
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Work on storage facility getting underway
Construction of a self-storage facility at Winchester Center is planned to begin this month. The three-story, 934-unit center is being built by Barron Collier Cos. and Metro Commercial at the retail development on Immokalee Road and Orange Tree Boulevard in Naples. The facility, on 2.8 acres, will be operated by StorQuest. It is scheduled to open late next year. The 21-acre Winchester Center, when complete, will have 41,836 square feet of commercial space and a tenant line up that includes anchor Sunshine Ace Hardware, with a 22,650-square-foot store, as well as a two-story NCH Immediate Care and Physician Offices. The other tenants to have signed leases thus far include: Little Caesars Pizza; Anytime Fitness; Heartland Dental; Healthcare Network of Southwest Florida; Luxury Nails: Cold Stone Creamery; Orangetree Hibachi & Sushi; and Marutos Cuban Café and Bakery. This is the second project Barron Collier and Metro have worked on together. It previously developed Founders Square at Immokalee Road and Collier Boulevard.
Costs continue to mount for resort’s owner
The Sunseeker Resort Charlotte Harbor may have a new owner soon, but for now it remains on Allegiant Travel Co.’s books. And that’s not a good thing for the Las Vegas airline, which already stands to lose $485 million on the sale of the property. The company, in its second quarter earnings report released Aug. 4, reported “special charges” of $102.2 million recorded during the quarter “reflecting a write-down to fair value less estimated costs to sell and other related expenses.” Allegiant announced in July it had reached a deal to sell the 785-room Port Charlotte resort to Blackstone Real Estate for $200 million. The cash deal is expected to close in September. The resort opened December 2023 — three years later than expected and at cost to Allegiant of $695 million, $225 million over budget. The delays and overruns were caused in large part by several construction shutdowns due to Covid and hurricane damage.
Retail, storage medical center coming to Hillsborough
Serenity Capital Management is planning a $30 million mixed-use development on a nine-acre site in Hillsborough County. The property is at 740 Eleton Springs Drive off of State Road 674 in Wimauma. The Tampa real estate firm’s plan calls for a 65,000-square-foot drive-up self-storage facility along with 21,000 square feet of retail space and 10,000 square feet for medical offices. Serenity paid $2.6 million for the property. It was previously owned by Sun City Mobile Home & RV Park. Serenity plans to break ground on the storage portion in late 2025 and is aiming to pre-lease at least half the retail and medical space before beginning that phase of construction. Serinity develops and invests in retail, multifamily, industrial and residential properties in Florida, Ohio and Indiana. Loyd Robbins of the Sarasota commercial real estate firm Loyd Robbins & Co. was the selling agent. The firm shared the plans. Stacy Alario of American Business Brokerage was the listing agent.
Nearly $19.5M for 26 acres to build warehouse project
A pair of commercial real estate investment firms are developing a 331,000-square-foot industrial warehouse project in Tampa. Miami Beach-based Hazel Street Capital and Irvine, California-based CIP Real Estate are building the development at 3600 Causeway Blvd. CIP bought the 26-acre property for $19.45 million, according to Hillsborough County property records. JLL Capital Markets says in an email that it arranged for the construction financing for the project but declined to provide an amount. According to county records, CIP took out a $38.64 million mortgage on the same day it bought the property. Pinnacle Bank was the lender. Construction on the warehouse development began last month. The project will include 110,000-square-foot and 142,000-square-foot rear-loaded warehouses and a 79,000-square-foot standalone warehouse. The warehouses are being designed for potential tenants looking for between 20,000 square feet and 142,000 square feet. JLL’s sales team included Cody Brais, Luis Castillo, Taylor Osborne and David Orta Jr. The financing team included Peter Thompson, Kyle White and Nick Englhard.
Apartment community refinanced for $56 million
The owners of a 300-unit Ruskin apartment complex have refinanced the property for $56.62 million. The three-year floating rate loan was issued by Mesa West Capital to pay off a previous construction loan, says Berkadia, which arranged the financing. The Easton Riverview, the community, is at 14471 Stagedoor Johnny Place. It has one-, two-and three-bedroom floor plans ranging from 821 square feet to 1,487 square feet. Rents, according to the community’s website, range from $1,599 per month for the smallest units to $2,254 per month for the largest. The Easton, which was built in 2023 and sits on 15.51 acres, is the only apartment community in the 932-acre Belmont master-planned community in southern Hillsborough near Manatee County. Berkadia’s Scott Wadler, Mitch Sinberg and Bryan Brown represented the owners, a joint venture between Cross Lake Partners of New York, GreenPointe Holdings of Jacksonville and Rivers Residential LLC of Atlanta.
Developer buys acreage for master planned community
GPI Real Estate has bought three continuous parcels totaling 149.5 acres in Wesley Chapel. The property is at 9247 Kenton Road. It makes up a major portion of GPI’s planned 168-acre master planned community, according to Linkvest Capital, a Miami firm that arranged a $5.5 million acquisition loan. (Linkvest posted a press release announcing the sale on its website attributed to the industry publication CREConnect.) Pasco County property records show GPI paid $4.5 million for the property. The community, when complete, is expected to have 890 residential units — single family and multifamily — and 104,000 square feet of commercial space. According to the release, $2.2 million of the loan will be used for predevelopment. Construction of the multifamily and commercial components is expected to start late this year or early next. Linvest’s Camilo Niño, Ricardo Uribe, and Alen Hernandez facilitated the loan. Los Angeles-based GPI is commercial real estate development and investment firm.
Squadron seeks waiver for planned education building
Sarasota Youth Sailing Program, which is proposing a new education building, is seeking a Government Zone waiver to remove the requirement that all off-street parking areas must be surfaced with asphalt, bituminous or concrete material; clay brick or concrete paving units; or permeable pavement surfaces. According to the Sarasota Observer, a sister publication of the Business Observer, the proposed facility will be built on 6.2 acres of city-owned property leased to the squadron on City Island at Ken Thompson Park. The parking area and entrance drive to the site is not paved, consistent with the condition from the beginning of the program's operation there in 1980. Plans call for the new two-story building to have about 2,000 square feet of air-conditioned space on the second floor. The space will be used for youth program meetings, offices, bathrooms and some storage rooms. The ground level will be used for boat and equipment storage and circulation. There will also be 1,000 square feet of covered open space on the second floor.
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