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News

    By
  • Business Observer Staff
  • July 27, 2007
Coffee Talk

Raymond James quarterly a surprise: If you're hearing cheers inside St. Petersburg brokerage Raymond James Financial Inc. it's because fiscal third-quarter profit rose 20%, helped by a big increase in revenue at its banking unit.WCI Communities stock loses altitude: WCI Communities, the Bonita Springs-based homebuilder that's for sale, saw its stock drop 22% in the five trading days ending July 24 to nearly $12 per share.Creative Loafing not on the fringe anymore: Move over, sexed-up personals ads. Creative Loafing, Tampa's hip, urban alternative weekly, is becoming corporate, in its own way.Lee County considers raising taxes...again: When revenues are down, at least one county has a solution: Raise taxes, and then raise taxes some more.What housing slump? Not in Tampa: The online edition of Forbes magazine says the Tampa Bay area is the No. 1 area in the country to buy a house.Perlman opens NYC home for charity: Music lovers take note: World-renowned violinist Itzhak Perlman is opening up his New York City home for an intimate concert Oct. 30, with the proceeds going to support the Sarasota-based Van Wezel Foundation and the musician's popular winter residency program.Sembler Co. plans ambitious project: Sembler Co., the St. Petersburg retail developer known for BayWalk in St. Petersburg and Centro Ybor in Ybor City, is planning its biggest development to date. But it's not in Florida.Southwest singles out Fort Myers: Sou

  • News
    By
  • Business Observer Staff
  • July 27, 2007
Commercial Real Estate Briefs

Publix Supermarkets buys Lehigh's CrossroadsPartnership starts infrastructure for 90-acre Meridian CenterFGCU foundation buys marine research facilityColonial Bank plans Nokomis branch21st Century Oncology opening Lakewood Ranch officeWillis A. Smith Construction awarded SCTI expansionArea Dunkin' Donuts buildings up for saleGoldenTree, Cypress Creek buy 501 KennedyBaycare Health System buys land for hospitalCalif.'s Pacificia Cos.acquires Sun City residence

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • July 20, 2007
Coffee Talk

Can Big Sugar save the planet?: Florida Lt. Gov. Jeff Kottkamp, fresh from the environmental lovefest in Miami featuring California's "Governator," predicted Florida's sugarcane farmers would be able to produce ethanol more cheaply than Midwestern corn growers.Sun continues to rise in Sarasota: Sarasota and Bradenton are not known for their public company stars, not at least when compared to say Fort Myers, with Chico's or Clearwater, home to Tech Data.Florida company exits mortgage business: The continuing storm in the national mortgage industry brushed up against Sarasota late last month when a Vero Beach firm with a niche in federal government mortgages, such as those produced by Fannie Mae and Freddie Mac, exited the industry.Pasco growing in other ways: A month ago, we reported on the boom in retail development in south central Pasco County. But there's more than a retail boom.Southeast partner takes USF post: Irv Cohen, a partner with Southeast Capital Partners, is the latest high-profile business adviser to be named an Executive-in-Residence at the University of South Florida's College of Business in Tampa.Miva founder now selling shutters: What happened to Craig Pisaris-Henderson?

  • News
    By
  • Business Observer Staff
  • July 13, 2007
Coffee Talk

Sour grapes drench Southwest Florida: If Meritage were a wine varietal, the taste would be pretty sour.Politician makes both sides happy: Keith Fitzgerald has only been a state legislator for one session, but the Democrat who doubles as a political science professor at Sarasota-based New College is making friends in some surprising places.Chico's Chairman to the rescue: Michael Weiss, the chairman of Chico's FAS, is coming to the rescue.Jabil Circuit stock rises on rumors: On Tuesday, July 10, shares of Jabil Circuit surged 5.3%, or $1.17, to $23.39, amid speculation that a private-equity firm was interested in the company.Homebuilder parties like it's 2003: Lakewood Ranch-based homebuilder Pat Neal is one of several Gulf Coast executives who have been saying for a few months that the cyclical real estate market is showing signs of beginning to make a positive turn in the cycle.Fighting the hometown scam: Florida Chamber of Commerce executives are fanning across the state to push a new Web site to fight the Hometown Democracy movement, www.thehometownscam.com.Entrepreneur finally gives up on convention center: Oscar Parsons, the crotchety 85-year-old entrepreneur who has spent the past five years trying to make a go out of a privately owned convention center - think using a garden hose to extinguish a raging warehouse fire - is finally admitting defeat.

  • News
    By
  • Business Observer Staff
  • July 6, 2007
Commercial Real Estate Briefs

North Port hospital planned at North Sumter, I-75First Florida Bank building Charlotte branchSaunders acquires Strom & StromGemesis Corp. weighs expansion alternativesAM Engineering moves to trade centerWelsh buys land for retail projecTBoynton Beach firmbuys Westgate buildingSanibel physician buys Sunset buildingSalamander acquires Westin InnisbrookHIT Promotional expands to 118th AvenueLargo investor buys Ashley Oaks

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • July 6, 2007
Like Radical, Dude

A national teen retailer is bringing its California vibe to Florida.It's opening 17 stores in the Sunshine State in less than a year.

  • Tampa Bay-Lakeland
    By
  • Business Observer Staff
  • July 6, 2007
Coffee Talk

Insurers to governor: What promises?: Seriously, Gov. Crist can't be surprised that homeowner insurance rates didn't drop as far as he and lawmakers predicted, can he?Challenges linger for Gevity: Lakewood Ranch-based Gevity is still struggling to execute its transformation from a professional employee organization driven largely by workers' compensation insurance to becoming a full-service human resource provider for small and mid-sized businesses.Analyst pessimistic on Tech Data: Though he has increased his target price on Tech Data shares, Zacks Equity Research senior retail industry analyst Rob Plaza is keeping his sell rating for the Clearwater-based technology distributor.New headquarters for WCI?: Is WCI Communities relocating?Speculation in Lehigh Acres: Dennis Black, the Port Charlotte appraiser who shined the light on speculative home buying in North Port, has his sights set on Lehigh Acres next.Do you have 1 million square feet?: Commercial real estate brokers at Cushman & Wakefield have identified nine companies scouting sites in Florida that could each handle 1 million square feet of space.

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

Fort Myers' P.F. Holdings buys Horizon PlazaParadise Development buys ArborGate land for WalgreensDebbie's Drapery Design Studio moves to Trace Center WayManatee County School Boardbuys Superior Electronics buildingsSarasota investors buy Riverside Oaks ParkMassachusetts investor buys Commerce Court buildingNewland Communities planning FishHawk neighbor Lake HuttoBPG Investment Partnership buys, renames telecom buildingOcala investors buy buildingsplan condo conversion

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • June 29, 2007
Tuning up Deals

Anthony Migliore comes to commercial real estate with songs still spinning in his head from a past career. His best melody has been to aim for small successes.

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • June 29, 2007
Coffee Talk

Gaining and losing muscle in the Russell: Coast Financial Holdings, the battered parent company of Bradenton-based Coast Bank, has suffered yet another setback: Being booted off the prestigious family of Russell Indexes, one of the leading stock market tracking funds.Chamber recognizes pro-business legislators: A diverse combination of old standards and rookie state legislators from the Gulf Coast were given high grades, and praise, by the Florida Chamber of Commerce when it comes to voting and pushing through bills in the best interests of business. Coffee businesses roast a good deal: Sarasota-based coffee entrepreneur Michael Duranko's main goal since he opened his first Local Coffee & Tea shop on Siesta Key in February has been to combine his ambitious growth plans with a keep-it-local mantra.Bay City Plywood re-brands: Tampa-based home improvement chain Bay City Plywood is modifying its name to add "Cabinets" to become Bay City Plywood & Cabinets.Hovnanian: Fort Myers is the worst housing market: What once was one of the best housing markets has turned into the worst.Colliers Arnold growing, makes moves: Clearwater-based real estate brokerage Colliers Arnold has hired 70 new people in the past year and is planning a move to bigger office digs.WCI Communities stock drops below $20: The stock of WCI Communities dropped 18% in the week ending June 26, generating endless speculation on message boards and blogs.Existing-

  • News
    By
  • Business Observer Staff
  • June 25, 2007
Commercial Real Estate Briefs

Investment company buys Sarasota Commerce CenterPublix Super Markets closes on Charlotte distribution siteManatee County buys Perico land for preservationTriton Cos. plans Hyattfractional on Siesta KeyLowe's home improvement store headed to Palmer RanchCore buildsin West PalmTimberstone Group buys, redevelops Avenue ShopsGarden Street Iron & Metal buys adjacent land, plans expansion, new grinderNorthStar buys funeral homeDeveloper plans Wesley Chapel centerFifth Third Bank buys land for Pasco branchLargo investors buy Clearwater office building

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • June 25, 2007
Coffee Talk

Ray Jay in play? Nay, they say: Shares of regional retail brokers shot up earlier this month in response to Wachovia Corp.'s announced deal to buy A.G. Edwards for $6.8 billion, creating the nation's No. 2 regional broker.Gulf Coast bank deal nearly complete: The sale of one Sarasota's most successful community banks is one step closer to being complete, as federal regulators have approved the $77 million deal between People's Community Bank and Birmingham, Ala.-based Superior Bancorp.Allen to the rescue, and make it quick: In its biggest acquisition to date, Naples-based software company Allen Systems Group completed the purchase of Mobius Management Systems for $211 million.Hip restaurant chain still might hit Sarasota: Coffee Talk hears that P.F. Chang's, the trendy Chinese bistro chain, will be coming to the Sarasota market after all - only not to Pineapple SquareMotley Fool takes aim at Jabil Circuit: The financial performance at Jabil Circuit, the St. Petersburg-based electronic products solutions company, drew the attention of one of the writers for the Motley Fool personal finance website recently.NCH Healthcare sells lab company: Naples-based NCH Healthcare, responding to competitive pressures on hospital services, sold off DSI Laboratories to LabCorp, the laboratory testing giant.Go ahead, befriend your colleagues: It turns out executives are comfortable with employees becoming friends with co-workers while on the job

  • News
    By
  • Business Observer Staff
  • June 15, 2007
Commercial Real Estate Briefs

Enterprise Associates brings Marquee to BradentonMurdock Village proposals near important deadlineWarm Mineral Springs developer adds town center conceptEncore Bank buys offices to remodel and leaseDevelopers buy land for Partners CoveFort Myers' Dupree family acquires two office buildingsRyan Cos. US buys 380 acres for corporate parkKenyon & Partners moving to Sabal Industrial ParkBarfield Bay buys Brookside

  • Manatee-Sarasota
    By
  • Business Observer Staff
  • June 15, 2007
Coffee Talk

Six months ago, Sarasota Coastal Credit Union president and CEO Tom Randle told the Review his institution was like a gnat when compared to the Gulf Coast's community and regional banks.Make that more of a growing swarm of gnats. It turns out PGT, the recently turned public Venice-based manufacturer, makes more than impact-resistant windows and doors.It also produces MBAs. It's latest output was 13 employees, all of whom graduated earlier this month from the MBA program at the Sarasota/Manatee campus of Webster University. Ever improving and expanding our coverage, the Gulf Coast Business Review has hired Dave Szymanksi as Tampa Bay Editor. WCI Communities, the Bonita Springs-based homebuilder, postponed its annual meeting after corporate raider Carl Icahn urged fellow shareholders to stay away.Although CFOs in the Tampa/St. Petersburg area predict a decrease in the hiring of accounting and finance professionals in the third quarter of 2007, hiring in the market is the same as the national average according to survey results released by Robert Half International. Katie Rickert is carving up the old axiom that teenagers and college students are lazy, lackadaisical and longing for direction. And she's doing it one knife at a time. The Sunshine State has topped yet another list of good places to do business.

  • News
    By
  • Business Observer Staff
  • June 8, 2007
Commerical Real Estate Briefs

NY groups pay $14.7 million for Oaks PlazaCritical Path Development planning flex buildingProscenium developer signs deal with NederlanderRE/MAX Gulfstream leases 2nd downtown officeLandMark Bank to take three floorsTarget buys land for super storeFort Myers investors plan University Drive office Harbor Development Corp. invests in N. Fort Myers CVSInland acquires Brandon Centre SouthClearwater investor acquires Starlight PlazaTrail America Tire & Wheel moves to Plant City

  • Manatee-Sarasota
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