- December 13, 2025
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Luxury residential project tops $500 million in sales
Sales at the Ritz-Carlton Residences in Naples have topped $500 million, with 80% of the units sold. Stock Residences, the project’s developer, provided a year-end update last week as it prepares for residents to move in starting next year. Penthouse units have been especially sought-after, with five sales over the past year alone, the developer says. Naples-based Stock says the buyers looking at the development have been a mix of locals and out-of-state buyers in search of new construction along the Gulf Coast, “a segment of the market that remains exceptionally active.” The Ritz-Carlton Residences in Naples is a five-building complex sitting on six acres with the gulf to the west and Vanderbilt Lagoon to the north. Stock says the vertical work is complete and that Suffolk, the general contractor, and the development team are focused on exterior progress and “extensive” interior finishes. The Ritz-Carlton Residences will include 128 three, four and five-bedroom homes, including penthouses, starting at 3,000 square feet. The Tower Residences are priced from $6 million, the Bay Residences from $5 million, and the soon-to-be-released Park Residences will start at $4 million. Amenities include a 22-slip marina, a park with walking trails, a putting green and covered pavilions. It will also have The Vanderbilt Club, a 28,000-square-foot club with a Grand Owner’s atrium and lobby lounge, a private restaurant, a business center and coffee lounge, a state-of-the-art fitness center and a full-service spa.
Investor picks up retail properties
Dallas-based real estate investment firm 90Ten has bought three mixed-use retail properties on the 1100 block of Central Avenue in downtown St. Petersburg. The properties are: 1110 Central Ave., a three-story retail building; 1122-1128 Central Ave., a two-story building; and 1114 Central Ave., which is occupied by Sweetgreen. The parcels sit next to the recently completed Moxy Hotel and are part of the Edge Collective development. 90Ten did not disclose a sale price and Pinellas County records have not been updated. The seller is Miami-based PTM Partners. Pinellas County property records show it paid $13.1 million for the properties in 2024. 90Ten, founded in 2023, says in a statement that it is in negotiations with retailers for vacant storefronts at the St. Petersburg sites. PTM Partners was represented by James Garner and Jim Shiebler of CBRE.
New digs for Sarasota brokerage
Sarasota real estate giant Michael Saunders & Co. is opening a new St. Petersburg office. The firm’s new digs is a 3,000-square-foot space in the Residences at 400 Central tower in downtown St. Pete. The firm had previously worked out of a temporary space nearby at 360 Central Ave. Michael Saunders & Co. is the exclusive sales and marketing representative at the Residences at 400 Central, the 46-story tower. According to a statement and a spokesperson, the firm will move into a space a 449 Central Ave. in March while the design and build out of the new office in the tower is completed. Once that is done, Michael Saunders & Co. will move into 400 Central and the 449 Central space will transition to agent support and back of house space. Michael Saunders & Co., which made its name and reputation largely in the Sarasota-Manatee and waterfront market, has been growth mode, recently opening an office in Sanibel with plans to open an office in Wellen Park in March. In all, Michael Saunders & Co. has more than 600 agents and 150 support employees across the region.
Moving company moves into new space
Sunshine Movers, a family-owned moving company, is scheduled to officially open its new facility in southern Manatee County Jan. 15, though it has been operating out of it for about two months. The 30,000-square-foot warehouse is at 1755 W. University Parkway, just west of U.S. Highway 301. Sunshine Movers was founded in 2014 with two trucks and was operating out of a 3,000-square-foot office with limited warehouse spaces. Today, it has a fleet of 15 trucks with more than 40 employees. The new climate-controlled building houses the company’s vault storage division, fleet operations and training programs, according to a statement. The new space allows the company to handle a larger volume of moves and support ongoing hiring programs. Blake Fitzpatrick, Sunshine Movers’ owner, in an email, says, “moving companies have very specific operational needs, and there aren’t many buildings that check all the boxes. This one was originally built by a moving company, so it has everything we need." According to Manatee property records, the property is owned by a Pennsylvania company named Dac Realty. It paid $1.86 million for it in 2008.
Owners invest more than $2 million in gym
A group of veteran gym operators is opening a new spot in Englewood, and they say they have invested more than $2 million into it. Mike King and Josh Chandler are co-owners of Workout Anytime Englewood, a 15,000-square-foot facility at 455 S. Indiana Ave. in Sarasota County. Chandler is also the general manager of sister gym Workout Anytime Venice. The group owns six Workout Anytime franchises, including two in Tennessee and two in North Carolina as well as the one in Venice. The others are all around 9,000 or 10,000 square feet. The plan is to open Workout Anytime Englewood by mid to late December, according to Chandler. Between new machines and construction, Chandler estimates the ownership group has put around $2.2 million into the facility, which is a leased property. Workout Anytime has more than 200 locations nationwide. It was founded in suburban Atlanta in 1999. The estimated initial investment to open a franchise location is $1.06 million to $1.84 million, according to the company’s website. The minimum liquid capital required is $400,000.
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