News

Business Observer Staff
April 20, 2007

Commercial RE Briefs

Realco Florida LLC buys 91-acre Airport Technology CenterSarasota investors buys Treeline office buildingFort Myers ISP buys office for headquartersFox Creek Holdings LLC buys I-75 parcelBank officials buy land for headquartersArdaman & Associates official buys George F. Young buildingAmerica's Capital Partners buys four-building Breckenridge VIIISt. Petersburg group buys 34th Street North warehousePriority Developers, NY investors plan Triple J Ranch development

Manatee-Sarasota

Business Observer Staff
April 13, 2007

Commercial RE Briefs

Harp Development plans office, retail town centreMiami investors acquire Myerlee Square, plan officeNaples investor buys University Commons officeCharlotte State Bank plans North Port branchSarasota developer files Cobia Bay site planHupp Realty Advisors plans Manatee WalgreensKBS REIT buys Sabal VI officePublix buys Tampa land for GreenWise MarketOAM Associates buys Palm Harbor Red Roof Inn

Charlotte–Lee–Collier

Business Observer Staff
April 13, 2007

Coffee Talk

Telovations Inc. CEO Rick Schonbrun says the Tampa-based startup is poised to expand now that it has received $6.5 million in venture capital.When Joe Hice, a marketing executive for places as varied as the University of Florida, Segway and Harley Davidson, talks about using the Internet to promote a business, he's not referring to any old Web site. Those days, says Hice, are over. Service has long been a buzzword in residential real estate, but the definition has always been tough to define. One customer's idea of the perfect agent is another's idea of the perfect bust. Scott Sosso, president of Prudential Palms Realty, a 250-plus agent firm covering Sarasota, Manatee and Charlotte counties, is trying to get a more precise definition, starting with having all Prudential agents attend Quality Service Certification training.In June, Enterprise Florida, the statewide economic development arm, is taking an export sales trade mission to Bogota and Medellin, two of the more populous cities in the South American country. The Bank of Tampa and its co-founder and CEO, A. Gerald Divers, were recently profiled in the Review. After 23 years of overseeing and nurturing what some call "Jerry's Bank," Divers is slowly relinquishing control.Internet chat rooms have been buzzing about a Web site that analyzes sales for various residential projects by Bonita Springs-based developer WCI Communities.

News

Business Observer Staff
April 6, 2007

Coffee Talk

Alexandra Miller has already survived a tricky internal power struggle within her Sarasota-based family-run medical supplies distribution company. Now she will try to survive a political campaign. The middle of March was good for US Home's Tampa division, which reported its best week this year. The builder sold 39 new homes in 23 Tampa Bay area communities during March 12-18.The gist of the survey, subtitled "what many boards and executives still don't know about the health of their businesses," is that many board members and senior executives are "in the dark about the overall health of their organizations" because they don't know enough about the non-financial matters, which tend to be tougher to monitor and judge.AnazaoHealth Corp. just made its third multimillion-dollar acquisition in 12 months. The Tampa-based custom mail-order pharmaceutical company acquired the assets of Kronos Compounding Pharmacy in Las Vegas.The latest taxable-sales data confirms anecdotes from many commercial builders: Charlotte County is experiencing a commercial construction boom.

News

Business Observer Staff
April 6, 2007

Commercial RE Briefs

Gulfstream Developments closes on Cayo WhippoorwillNicaea Academy expands in Naples, Fort MyersPlastic Specialties owner sells building to companyFortress Investment Group buys Bradenton's Woodlands VillageSarasota investors buy, re-list former Khrome clubRoyal Senior Care buys Sarasota Heron HousesBoca Raton's Leder Group buys President's, Corporex plazasHernando investor buys Apollo Beach Mini StoragePraedium Group buys Bay Tec Center

Charlotte–Lee–Collier

Business Observer Staff
March 30, 2007

Commercial RE Briefs

Kosene & Kosene buys portion of Coconut PointDevelopers Diversified Realty takes over Cypress TraceNorth American Properties planning The Forum retail center Bradenton investor/developer buys Palmetto buildingsFirst State Bank buys Venice office Bailes Family buys University ABC liquor storeTrump Group buys Koger office portfolioBresler & Reiner buys Westbury at Lake BrandonFaison planning commercial side of Centex's Magnolia ParkManchester, U.K. investors buy Pinebrooke office buildingTA Associates Realty buys Bermuda Lake ApartmentsSurgery Partners buys Tampa McNichols office building

Charlotte–Lee–Collier

Business Observer Staff
March 30, 2007

A Palm Plan

The Leiter Group and John Buck Co. score high for lower density, parking plan, affordable housing units and promise to minimize construction impacts for a downtown Sarasota project.

Manatee-Sarasota

Business Observer Staff
March 30, 2007

Coffee Talk

In Lee and Collier counties, there's talk of a tax on commercial builders to pay for affordable housing.That's despite the fact that Collier County commissioners voted the idea down recently. The county staff had proposed imposing a one-time tax on new construction of commercial buildings, but commissioners tabled the issue a few months ago. Still, Coffee Talk hears it might resurface.he good news is that the cost increases builders and developers were seeing from suppliers slowed considerably in the last half of 2006. The bad news, says Simonson: The decrease is a temporary quirk, adding that "by the end of 2007, materials costs could be rising again at a 6% to 8% rate, with wages rising at a 5% rate."Now, with the recent slowdown in residential activity, it appears that free or subsidized real estate trips might be making a comeback.Did Sarasota-based condo developer Don Bevins figure out the mystery of time travel?Coffee Talk thought he might have, especially after hearing the developer and his company recently closed on 37 condo contracts in just two months for the Grande Oaks Preserve, a 30-acre gated community with a projected 125 residences being built on DeSoto Road, two blocks south of University Parkway and two miles west of Interstate 75. Is the worst behind for Chico's FAS?Some analysts are starting to think the stock of the Fort Myers-based women's retailer could rebound.

News

Business Observer Staff
March 23, 2007

Commercial RE Briefs

Burton-Katzman plans large flex buildingPelican Bay cleaning up Banana River MarinaContruction begins on Olympia ParkKing Brands buys Harvest Pak warehouseTuscano CDD buys land for water systemVengroff buys Bertel ManorSimona Jewelry buys St. Armands storeHonolulu businessman buys Seven OaksAllPro Printing, Direct Mail buys third buildingNew owner buys Temple Terrace Sleep Inn

Charlotte–Lee–Collier

Business Observer Staff
March 23, 2007

Coffee Talk

Moe Wishkaei and two of his colleagues worked for a national restaurant chain in the Tampa Bay area, but they dreamed of owning their own business.Late last year, the three men, who had been friends for more than 10 years, took a leap of faith. Wishkaei, Ghyslain Lefebvre and Ted Steiner quit their jobs and bought three Atlanta Bread Co. locations.Optimism, plus a dose of realityDevelopers are traditionally an optimistic lot, and John Simon, CEO of Pineapple Square Properties, is normally as cheery and positive as they come. And for good reason: He's behind a $200 million mixed-use project with the potential to reshape downtown Sarasota with as many as 40 new stores over 130,000 square feet, 275 condos and 525 public parking spots. An unlicensed consumer loan company will cease operations in Florida and offer refunds to consumers after about 10 years in business, according to an agreement that Tampa Investment Services Inc. reached with the Florida Attorney General's Office.Florida's leading small-business advocacy group continues to grow: The National Federation of Independent Business recently hired Bill Herrle as its executive director, one of several leadership positions the group is filling as it strives to add more members while maintaining its pro-small business lobbying presence in Tallahassee.

News

Business Observer Staff
March 16, 2007

Coffee Talk

Late last month though, Roper Industries, an international engineering and manufacturing firm specializing in industrial imaging and software products, officially moved its headquarters from Duluth, Ga. to Sarasota. Whitney Holding Corp. of New Orleans completed its acquisition of St. Petersburg-based Signature Financial Holdings Inc., the parent of Signature Bank, in a cash and stock deal worth $61.7 million.Coffee Talk can boast with the best of them, and the latest bragging rights comes courtesy of Andrew Greenwell, the 23-year-old Sarasota based commercial real estate wunderkind. The Review introduced Greenwell to the business and real estate universe first in a Sept. 28 profile on his accomplishments, which include co-founding Sarasota-based Corporate Realty Group, a six-employee, $20 million firm. Top 10 lists, ubiquitous on late night TV and in all sorts of promotion and marketing materials are, at their core, supposed to have some shred of humor. Too bad laughter wasn't what Coffee Talk heard after reading Enterprise Florida's top 10 recommendations to the Florida Legislature for its upcoming 2007 session.Instead, the sound was more like a ca-ching of cash registers: Three of the first five recommendations include some form of the words "continue funding," for a total of $272.5 million in programs. And More...

News

Business Observer Staff
March 16, 2007

Commercial RE Briefs

Opus South planning Market Place at the Preserve retail centerProia Motors buys former Auto World buildingFire service owner eyes new developmentCrowder Bros. Hardware develops Lakewood Ranch centerMississippi's York Developments plans Palmetto self-storage spaceKaplan, investors buy in Jackson Hewitt PlazaHonolulu businessman buys Seven OaksNew owner buys Temple Terrace Sleep InnAllPro Printing, Direct Mail buys third building

Charlotte–Lee–Collier

Business Observer Staff
March 9, 2007

Commercial RE Briefs

Pinnacle, MGM Construction plan rackaminiums for Compass RoseLaw firm buys in Park CentralR&D Cos. starts first phase of Via VenetoWater's Edge developer starts apartmentsCharlotte Development Co. looks to sell North Port centerInvestors acquire Golden Coral buildingCitrus Square work to begin in late 2007Investor buys Northeast PlazaBarfield Bay Properties buys Palma CeiaSembler wins business awardAmerican Financial acquires Wachovia's Hyde Park branch

Charlotte–Lee–Collier

Business Observer Staff
March 9, 2007

Coffee Talk

There are more than $1 billion in health care construction projects in the pipeline in the Tampa Bay area, according to Nashville-based HealthLeaders-InterStudy. While all those high-end services and equipment might mean better care for patients, it's also expected to spur hospitals to push aggressively for higher reimbursements from insurance companies to cover costs, says Margaret Dick, who authored the HealthLeaders-InterStudy report. And guess what? Health insurance companies are going to push back. Naples-based Health Management Associates was the only Gulf Coast firm to be named to Fortune magazine's annual list of America's most admired companies. The Speaking of Fortune magazine's most admired companies (see related item) Dallas, Texas-based national homebuilder Centex is number one in its industry, scoring top marks in seven categories, including quality of management, quality of product/services and use of corporate assets.On the Gulf Coast, though, specifically in the Sarasota-Manatee market, the company has recently been admired for something even more important to both shareholders and employees: Sales. When Hovnanian Enterprises bought Cape Coral-based First Home Builders of Florida in August 2005, the new-home market in Lee County was sizzling. First Home builds moderately priced homes for first-time homeowners and in 2005 was the county's largest locally owned homebuilder.

News

Business Observer Staff
March 2, 2007

Coffee Talk

The Related Group, which has built two Trump towers in South Florida, signed a letter of intent to become managing partner on the downtown Trump Tower Tampa, waterfront project with Gulf Coast developer SimDag LLC and private-equity firm, Mirabilis Ventures, Orlando.The Lee County Chamber of Commerce, the for-profit chamber in Fort Myers, is fighting to keep its name.State legislators have filed a bill that would prevent any for-profit group from using the name "chamber of commerce" and violations would be punished as a first-degree misdemeanor. Traditionally, chambers of commerce have been not-for-profit organizations, but entrepreneurs have started using the "chamber of commerce" name.Coffee Talk has nothing against young guns taking prominent positions in business, law and politics - witness the Review's annual 40 under 40 issue - but there was some mild surprise when AARP, the national lobbying group for the mature population, recently named its new Florida director: She's 33 years old, a baby in AARP years. Development executives were buzzing at the Urban Land Institute conference in Naples Feb. 22 about a DiVosta Homes ad appearing in the local daily newspaper.The two-page, four-color ad touted a 48-hour sale during which homebuyers could get discounts of as much as $60,000 on a new home at one of three communities in Naples, Bonita Springs and Ave Maria.The stock of Chico's FAS, the Fort Myers-based women's retailer, was ranked as th

News

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Commercial RE Briefs

Commercial RE Briefs

Coffee Talk

Coffee Talk

Commercial RE Briefs

Commercial RE Briefs

A Palm Plan

Coffee Talk

Commercial RE Briefs

Coffee Talk

Coffee Talk

Commercial RE Briefs

Commercial RE Briefs

Coffee Talk

Coffee Talk

Report: Small business optimism up, but worries percolate

CEO of Bradenton EDC announces retirement

Manatee County to break ground on $40M veterans complex

Moez Limayem confirmed as USF’s new president

Developer proposes three-story mixed-use project on St. Armands

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