- July 19, 2025
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Drone manufacturer opens office and production hub
XTEND Reality Inc., an Israeli autonomous drone systems manufacturer, has opened its new U.S. headquarters in Tampa. The 10,000-square-foot office and production facility is at 5247 Crossroads Park Drive, off of Tanner Road and south of Hillsborough Avenue near Interstate 75 in the Crossroads Industrial Center. It would not say how much it spent on the facility. According to the defense technology company, the facility expands its U.S. production capacity to meet a demand for advanced drone systems in the defense and public safety sectors. In a statement it says that while the focus is on a contract for the U.S. Department of Defense, manufacturing will eventually expand to other critical drone components. That includes communication modules, motors and controllers for the broader industry. Tel-Aviv based XTEND was founded in 2018 by brothers Aviv and Matteo Shapira and Rubi Liani. The company specializes in AI-assisted, human-guided drone systems. Before XTEND, the Shapira brothers co-founded Replay Technologies, which sold to Intel in 2016 for $175 million.
Site totaling nearly 30 acres for build-to-rent community sold
Developers behind a new build-to-rent community in Land O’ Lakes have closed on the property. South Carolina-based Maymont Homes paid $12.75 million for the 28.5-acre parcel in the Bexley master planned community. It along with the Houston construction company Dinerstein Cos. are planning to build a 250-unit community on the site. It will include a mix of two- and three-bedroom residences with private yards, attached garages and access to a clubhouse, fitness center, neighborhood parks and a resort-style swimming pool. This will be the first build-to-rent community in Bexley. Berkadia, which announced the sale and represented the seller, Brookfield Residential Land, says leasing is expected to begin late next spring with move-ins starting in the fall. The community will be built near Bud Bexley Parkway and Sunlake Boulevard in Pasco. It is next to a 41-acre parcel set to be developed as a retail center. Berkadia’s Matt Mitchell and Chris Burtner worked on the deal.
Construction giant signs contract for county school project
The U.S. division of Swedish global construction giant Skanska signed a $68 million contract to build a new elementary school in Manatee County. The contract calls for the company to build Artisan Lakes Elementary School on a 22.8-acre property along Buckeye Road. According to Skanska, the two-story school will be 134,600 square feet. It will have 63 classrooms to accommodate more than 950 students in grades K-5. In addition to the building, there be a covered playground and a boardwalk that extends into some wetlands. Work has already begun, and it is expected to be complete by the third quarter of next year. Skanska, one of the largest construction companies in the world, is working on $400 million worth of work on various school projects throughout Florida in Hillsborough, Pasco, Pinellas, Manatee and Lee counties.
Shopping center sold in two parts for $12 million
The Brooks Town Center in Estero has sold. The 35,330-square-foot shopping center at 10020 Coconut Road brought $12.05 million in a pair of transactions. According to commercial real estate firm Plaza Advisors, FineMark Bank bought a 9,390-square-foot outparcel where it operates an office for $4.7 million. Jim Michalak, a managing partner at Plaza, says in an email that the Fort Myers-based bank owned the building and purchased the ground lease. The second part of the purchase was for the remaining 25,940-square-foot strip center. It sold for $7.35 million. Plaza says the buyer is St. Petersburg-based Concord Real Estate Investors. The shopping center was built in 2008 and is off of Three Oaks Parkway. It is 96% occupied with a tenant roster that includes Burn Boot Camp, LabCorp and Pinch-A-Penny. The property was previously owned by the Courtelis Co., which sold an adjacent big box space in December to PAC Land Development, according to Plaza Advisors. PAC is planning to build a 137-unit multifamily community on the property. According to Lee County records, PAC paid $5.32 million for the land. Michalak and Jeff Berkezchuk represented Courtelis on the sale of The Brooks Town Center.
Broker and dealmaker switches commercial real estate firms
Adam Palmer, a commercial real estate veteran who spent the past 16 years as managing director and principal at LQ Commercial Real Estate Services, has joined CBRE as an executive vice president in Naples. Palmer, who will maintain a focus on Southwest Florida, is the broker behind the $92.5 million sale of the 41-acre CenterLinks Business Park last year. The deal for the 454,200-square-foot Fort Myers park at the time was the largest industrial sale in Southwest Florida history. It was surpassed in November by the sale of Tri-County 75, a Fort Myers industrial park, for $155 million. Before getting into the commercial real estate industry Palmer, according to his LinkedIn profile, worked in software, where he built systems, applications and databases for Lucent Technologies, Sprint and police and fire departments. He joined LQ in 2009 and, according to CBRE, has completed more than 1,000 transactions. He says the move to the new firm allows him to “optimize what has been built over the last two decades with a broader platform, deeper resources and a truly global reach.”
Apartment complex helped by Live Local completed
Aspire Naples, a Live Local Act project in Collier County, has been completed and residents will begin moving in in the coming weeks. The 223-unit apartment complex was developed by CIG Communities and is on Immokalee Road just east of Livingston Road in North Naples. CIG, which began construction on the project in 2023, says 30% of the units — 71— will be leased at or below market rate to qualified residents who live and work in Collier. To qualify, Aspire says on its website, an applicant must earn at or below 80% to 100% of the Area Median Income and that at least one member of the household must be employed by the county. Residents considered essential services personnel are provided first access to units under Live Local provisions.
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