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News

    By
  • Business Observer Staff
  • January 11, 2008
Commercial Real Estate Briefs

Latt Maxcy acquires Palmer CrossingsSarasota Restaurant Equipment buys warehouseRingling College of Art plans for growthNew York company buys Jamaica Bay PlazaCharlotte Countybuys 212 acres of preserveFP&L invests in future substationsExeter Property Group buys Verizon warehousePegasus Imaging renovating M.L.K. officePrologis buys building, develops Prologis Park Madison

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • January 4, 2008
Coffee Talk

Most CFOs to maintain staffing levels: About 5% of chief financial officers in the Tampa Bay area plan to add accounting and finance staff during the first quarter of 2008, while 5% anticipate reductions in personnel, according to the most recent Robert Half International Financial Hiring Index.Taking Big Blue to court Watch out, Goliath.: T3 Technologies Inc. of Tampa has filed an anti-trust claim against IBM in the U.S. District Court for the Southern District of New York alleging anti-trust violations and unfair competition.CarBiz plans 'superstore' in Houston: Sarasota-based CarBiz Inc. has announced plans to open its first "Superstore" in Houston next month.Search for industrial land continues: And while residential slows down, industrial demand heats up. Businesses need warehouses. But there is little available land on which to build. Even on Interstate 75.New online community emerging: Tampa-based Web Piston just released a Web application, Frupee, that allows people to build their own online communities.Evos knows college students: Healthy food and college students? Not always a match.Port likely to spend $1 billion: The Tampa Port Authority and maritime businesses can expect to pump more than $1 billion into facilities at Tampa's port during the next 20 years, a consultant developing the port's master plan said.

  • News
    By
  • Business Observer Staff
  • December 31, 2007
Coffee Talk

WCI Communities' CFO resigns: The recent resignation of James Dietz, the chief financial officer of Bonita Springs-based WCI Communities, sparked lively discussions on the company's message boards. Network Liquidators appoints Jabil exec: Network Liquidators, a Tampa-based buyer and seller of pre-owned networking and telecommunications equipment, has appointed Steve Torres as chief financial officer.Sink says state should tighten its belt: Despite a state unemployment rate that is below the national average, expect belt tightening, streamlining of government and efforts to better protect the state financially from hurricanes as the state takes in less revenue.Sink to campaign for Democrats: And while she's tending the state's cash register, expect to see Florida CFO Alex Sink hit the campaign trail, working for fellow Democrats. At a recent CEO Council breakfast, she didn't name names.Metro acquires 8,300 home sites: Timing is everything. Although residential real estate is in the tank, there apparently are deals to be had. Some of them big.TOURISM TAXABLE SALES

  • News
    By
  • Business Observer Staff
  • December 21, 2007
Coffee Talk

Sarasota County freezes impact fees: Lower revenues have some local governments rethinking some of their high fees.CEO buys $1 million worth of Chico's stock: It's always a good sign to see a CEO buy $1 million worth of the stock of the company he runs, especially when that company is Chico's FAS.Vulture funds circling residential: Don't look now, but the downturn in the residential real estate market has vulture investors circling Tampa Bay, trying to buy lots on the cheap.Environmental activist may run for county seat: Jono Miller, a well-known Gulf Coast environmental activist, tells Coffee Talk he is giving "serious consideration" to running for the Sarasota County Commission in 2008.Ideal Image finishing strong: Tampa-based Ideal Image, the laser hair removal chain, is finishing 2007 strong, boosting same-store sales revenues 28% over 2006.WCI gets reprieve from lenders: WCI Communities got a one-month extension from lenders to Jan. 7 to renegotiate the terms of its loans.Lawsuit abuse issue lingers: Lobbying groups fighting for Florida tort reform have even more evidence that frivolous lawsuits, even the threat of one, is bad for both businesses and consumers.

  • News
    By
  • Business Observer Staff
  • December 21, 2007
Commercial Real Estate Briefs

Developer plans Charlotte resortMassachusetts hotel owner buys Marco buildingFifth Third Bank plans 22nd Lee County branchStrathmore Development buys Center of Bonita SpringsLongboat Key Club buys Longboat Key MooringsLapensee Plumbing buys Re/Max officeSarasota's K2M buys, markets bank officeUCH develops Pasco care centerTwo Australian firmsPraedium Groupbuys Palm Island Club

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • December 14, 2007
Commercial Real Estate Briefs

Cameratta buys Cypress ShadowsNorthern Trust expands in Fort MyersReal estate investors buy Naples marinasArizona company buys mobile home parkInvestment group buys Cattlemen Road buildingSarasota developer plans Fairway Grande HotelSenior Housing Properties buys Harbour Island ClubNew York firm buys apartmentsAshley Furniture plans warehouse expansionSeminole Music owner buys Freddy's Plaza

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • December 14, 2007
Coffee Talk

Lee County imposes moratorium: Incoming Lee County Commission Chairman Ray Judah had some explaining to do when he appeared before a group of builders and developers recently.Shells goes to the Middle East: It's not where you normally hear about international expansion.Construction firm looks forward to next year: T. Craig Campbell, president of Palmetto-based Zirkelbach Construction, uses phrases like "cautiously optimistic", "hopeful" and "still watching pennies", when predicting what kind of year the company is looking at in 2008. Commercial brokers seek access to TICs: If the National Association of Realtors has its way with federal regulators, some commercial real estate brokers will have another way of making money next year.WCI gets reprieve from lenders: WCI Communities got a one-month extension from lenders to Jan. 7 to renegotiate the terms of its loans. So what?Homebuilder celebrates the holidays with sales: November turned out to be a pretty good month for Lakewood Ranch-based homebuilder Neal Communities.Tampa to get Ritz-Carlton: For years, city and tourism officials have lamented that the Ritz-Carlton's flag hasn't flown over Tampa.

  • News
    By
  • Business Observer Staff
  • December 7, 2007
Coffee Talk

JBM Realty Advisors goes California dreamin' : Another Tampa company, JBM Realty Advisors, one of the nation's premier institutional multifamily brokerage firms, recently connected with a large out-of-state business, Sperry Van Ness.Sarasota Chamber looks to tomorrow with optimism: Sarasota Tomorrow, the capital campaign designed to prove businesses aren't just a necessary evil, kicked of its donation season with a big announcement: It has already raised $1.22 million - 60% of its $2 million goal.Condo project goes retro, sells most units: The following sentence wasn't lifted out of a 2005 Coffee Talk item: A Sarasota condo developer has been selling units at about the rate of one a week for three months, with the majority going to the contract stage Sarasota money manager dies from stroke: Gary Wood, founder of a Sarasota-based money management firm bearing his name, died Nov. 29, a few weeks after suffering a stroke. He was 68.HMA highlights chairman's stock sales: It's usually a routine affair when top executives sell stock of the company they manage.Foreign tourism slips, security issues blamed: Security concerns are making it more difficult for the Tampa Bay area to attract foreign visitors, a key component of the area's important tourism industry.Commercial brokers seek access to TICs: If the National Association of Realtors has its way with federal regulators, some commercial real estate brokers will have another way of m

  • News
    By
  • Business Observer Staff
  • December 7, 2007
Commercial Real Estate Briefs

Davie investors develop Merchant CrossingTrenton developers, investors buy Joey's Pizza, Pasta buildingParadise Group develops Naples WalgreensGermain Toyota Clark Road buys landGrocery giant Publix buys University Walk parcelPalmetto shop owners acquire U.S. 301 buildingJacksonville Bank acquires DQ branchAldi buys site, plans eight in TampaNew owners buy Payless Car Sales

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • November 29, 2007
Coffee Talk

Businesses fight back: We're not bad: The Greater Sarasota Chamber of Commerce is out to prove that businesses, both big ones and small ones, from developers to diamond sellers, aren't the enemy of the good life on the Gulf Coast.Judge advocates secrecy pact: The Spanish government got another step closer to getting long-awaited details of the estimated $500 million in sunken treasure salvaged by Tampa-based deep-sea explorers thisWestshore projects slow down and stop: South West Shore Boulevard has some of the last large tracts of waterfront land in South Tampa available for redevelopment.Company seeks motivation in new name: An entrepreneur's two-year quest to stop a sales slide and focus on a new direction has led to one of the riskiest decisions a company could make: A name change.ECONOMIC SNAPSHOT

  • News
    By
  • Business Observer Staff
  • November 29, 2007
Commercial Real Estate Briefs

Naples investors develop Holiday InnWolf & Pravato moves, acquires Colonial locationNaples' Classroom Plus moves to GoodletteSt. Louis hotelier buys Fort Myers hotelSMG buys Lemon, Lime apartmentsPalmetto Real Estate firm buys Bradenton flex buildingSarasota investors buy up Cove CleanersJES Properties buys Ashley Glen landSeminole developers buy Hudson storage facilityAdult business owner buys Holiday building

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • November 23, 2007
Coffee Talk

Investment bank: TIB a likely buyout target Is TIB Financial Corp. in play?: The Naples-based owner of TIB Bank recently appeared on a list of likely takeover targets put out by investment bank Keefe, Bruyette & Woods.Auction brings in deals, discounts: Sure, the real estate market isn't what it once was, but still, selling more than $100 million of luxury real estate in one setting in one day has to be considered a pretty good accomplishmentPlan for compliance, avoid the Feds: The image of federal agents descending on and investigating Wellcare in Tampa may have left a chilling effect on Gulf Coast health care businesses working with Medicaid and Medicare patients.Newshound buyers sell the dogs: Naples-based value investor Bruce Sherman is selling his stake in newspapers, recent securities filings show.Seminole Hard Rock reopens with additions: The Seminole Hard Rock Hotel & Casino in east Tampa celebrated the grand opening of its $120 million expansion, including a new second floor for the casino, the Fresh Harvest restaurant and a VIP lounge.GULF COAST UNEMPLOYMENT RATE

  • News
    By
  • Business Observer Staff
  • November 23, 2007
Commercial Real Estate Briefs

Deltona Corp. buys 812 Cape Coral home lotsAshley and City Furniture expands to Fort Myers, NaplesFlorida Capital plans I-75 apartmentsPointe Group Advisors plans Westshore projectPollack Partners, Mainsail plan Westshore apartmentsJohn Neal buys half of University Park clubLakewood Ranch developerdonates land to MCCFormer Pulte executive heads Taylor Morrison

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • November 16, 2007
Commercial Real Estate Briefs

TB&W Enterprises acquire Bonita Springs developmentInvestment group buys 40 acres in CharlotteRLR Investments buys Royal Shell VacationsAndersen Racing owners buy Palmetto trackPossible buyer probes School Avenue siteKaplan, Bennett eye State Road 64 developmentsBenderson's university center passes Planning CommissionChicago firm buys Adagio ApartmentsLake City hotelier invests in Wesley Chapel ERSeven One Seven Parkingacquires Tampa parking lot

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • November 16, 2007
Coffee Talk

A Bridge to Celebration: Rob Morris is one happy developer these days: The project he dreamed of three years ago - a $3.5 million bridge that will serve as an entrance to his firm's Sarasota condo project along the Phillippi River - is officially completed. And better yet, it came in early and under budget.Icahn hedge funds lose on WCI bet: Billionaire investor Carl Icahn's bet on WCI Communities led to the first quarterly decline of his hedge funds since they opened three years ago, Bloomberg reported recently.Standing in defiance of the market: On Nov. 7, elected officials, Pinellas County staff, and The Sembler Co. leadership grabbed shovels and broke ground for Sembler's first standalone residential community called Duval Park, a new traditional neighborhood in the heart of Pinellas County in Lealman.Bonds show WCI's odds of survival: Bond prices are always a good indicator of corporate health.

  • News
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