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News

  • For Subscribers Only
    By
  • Business Observer Staff
  • January 26, 2008
Commercial Real Estate Briefs

Richman, First Florida plan apartment complexOsprey Property Cos.buys land for new retailTampa flooring retailer buys Race Track centerOhio storage company buys Lockwood storageOcala John Deere dealer buys Palmetto dealershipSarasota developers plan Siesta Village lotBonita Springs developers plan Forum business centerRec Room Furniture sells Naples buildingInvestors acquireDunkin' Donuts center

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • January 26, 2008
Coffee Talk

Million-dollar tax bill goes to court: Fresh off selling his multimillion stake in Venice-based window manufacturer PGT Industries, Paul Hostetler sought a bank and an investment firm to reduce his and his family's tax bill.WCI: Icahn makes banks blink: News that banks granted Bonita Springs-based WCI Communities until June 2009 to gets its financial house in order had Carl Icahn written all over it.Westshore's Austin bullish on Giuliani: Al Austin, the Tampa developer known as the father of Westshore, Florida's biggest business district, keeps busy with more than real estate these days.Sarasota money draws a crowd: In these tough economic times, Coffee Talk was surprised to hear yet another wealth management firm is entering the Sarasota market.Downtown Fort Myers condos on hold for duration: If construction hasn't started on a downtown Fort Myers condo tower yet, buyers will have to wait until the residential downturn is over. Sawgrass Creek building nears completion Managers eye Merrill's Florida pension businessMcKibbon goes green with new hotelsMetro, Shaw enter joint venture HMA gets bump from Wachovia analystSt. Pete to issue RFP for Trop site

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • January 18, 2008
Coffee Talk

National hotel chain bets on Gulf Coast: Since the slumping housing market's bite is cutting into just about any industry that gets in its way, this might seem like a strange time to be hyping fractional condo ownership on the Gulf Coast.Bad economic predictions? Kill the messenger: Hank Fishkind's word may be golden among Florida developers and bond investors, but builders in Cape Coral were furious when the Orlando economist recently said it might take as long as four years for the Cape Coral-Fort Myers area to recover from the real estate downturn.John R. Wood trims Fort Myers operation: John R. Wood Realtors, the Naples-based residential real estate brokerage firm, closed its Fort Myers office and most of the 25 agents there will relocate to Bonita Springs.Bradenton Bank's downtown Tampa exposure: Add a new name to the downtown Tampa skyline: M&I.Locally created commercial gets second life: Sometimes the best kinds of publicity can't be bought.Lakewood Ranch grocer leaves field to Publix: Score one for Publix.Homebuilding land gone to the dog: Tampa-based real estate land broker Bill Eshenbaugh, a.k.a. "The Dirt Dog" on his Web site, is a busy man these days.ECONOMIC SNAPSHOT GULF COAST TOURISMBuchanan seeks advice from local executives

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • January 18, 2008
Commercial Real Estate Briefs

JKL Design Group relocates to 61stKauffman, partners plan to start Ringling PointeSarasota County, Swiftmud buy landFort Properties Inc. buys Shaw Aero facilityTerra Del Prado buys Merchant centerForge Capital, DeBartolo buy Sunshine PlazaEquity, NRI buy land, prep for startColorado investors buy assisted living propertiesForesight Holdings Inc. acquires Largo Bazaar

  • Manatee-Sarasota
  • For Subscribers Only
    By
  • Business Observer Staff
  • January 11, 2008
Coffee Talk

Rep Aubuchon: cut school taxes 40%: The property tax debate will be far from over even after Jan. 29, the day Floridians will vote on a new property tax amendment.Bank exec voluntarily demotes himself: George Najmy, president and chief executive officer of Bradenton-based First Priority Bank, approached the bank's board of directors late last year with a rather unusual requestHealth care costs continue getting costlier: The struggles many small business owners face in providing health care to employees will only get worse in 2008, a new study predicts.New York ad firm buys Sarasota company: With some national naysayers lamenting that Florida' glory days are over, Coffee Talk was pleased to hear a big New York advertising firm wants in on the Sunshine State.Sherman mauls management of Bear Stearns: Bruce Sherman, the CEO of Naples-based Private Capital Management, is agitating again.Market forces catch up to entrepreneur: One time high-flying St. Petersburg-based entrepreneur Frank Maggio has hit some low times.New York's finest comes to Tampa: If you make a stun gun that competes with the taser, you may need to bring in an established veteran to help you win the shootout, or perhaps the stunout.CNL bullish on Tampa: Despite the real estate slowdown, CNL Commercial Real Estate is bullish on Tampa.

  • News
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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

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