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News

  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    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
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 9, 2007
Coffee Talk

Area construction firms look past condos: Sarasota-based construction executive John Wiseman says he's not going to leave a candle burning in the window for the dark Gulf Coast condo market.Alico-Ginn deal a clue to real estate future: To get a sense for when the real estate market will rebound in Lee County, take a look at the recent restructuring of a deal between Orlando-based developer Ginn Development and Alico, the giant agribusiness headquartered in LaBelle.And now live, from Tampa Bay, it's . . .: With just the perfect mix of being in the right place at the right time, almost anything can happen.WCI stock may be a treat, if it doesn't trick Does Michael Burry know something we don't?: On Halloween, Burry acquired 5.7% of the outstanding stock of WCI Communities, the Bonita Springs-based homebuilder that is now chaired by billionaire investor Carl Icahn.Florida bankinghead leaving: Susan Martinez, regional president for Region's Financial Corp. in Tampa, a banking industry veteran of 35 years in Florida and one of the few female banking presidents, is retiring at the end of the year.Engineers call a bottom to the housing market: You shouldn't lose your sense of humor, especially when times are tough.We're number nine! We're number nine!: Drum roll please: Florida ranked...ninth in 2007, behind first-place North Carolina and seven other states on Site Selection magazine's annual business climate rankings.Media Gene

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 9, 2007
Commercial Real Estate Briefs

First American plans Fort Myers branchR&S Development gears up for SandalwoodDeangelis construction buys Alico industrial buildingMichigan investors buy Royal Oaks CenterGolden Aluminum Extrusion buys Plant City plantTampa dealership group buys Precision KiaMattison's group expands to Tamiami TrailNaples hotel group buys land for Hyatt PlaceCenter for Premier Dentistry moving to Clark Road

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 2, 2007
Commercial Real Estate Briefs

John Hicks Co. buys Venetian at Capri IslesPaving company buys Palmetto CoxTarmac buysindustrial landPorterfield family buys Pewett CenterGeorgia developer builds Slater Road CVSPrudential Realty, CLW buy Thompson centerClearwater landlord buys Gateway ApartmentsInland Real Estate buys Citizens Insurance officeGraybar Electric buys existing warehouse building

  • Manatee-Sarasota
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 2, 2007
Coffee Talk

First the FBI, then lawyers, now stock crash: First, WellCare Health Plans in Tampa got a visit from the FBI last week.Shareholder seeks more money - and pancakes: Maple syrup was gushing down Wall Street Oct. 30 after shareholders of sit-down, casual restaurant chain Applebee's approved a $1.9 billion buyout offer from IHOP Corp.Found: A trio of buyers for high-end eateries: After a yearlong search, going as far as meeting with international prospects and running ads in the Wall Street Journal, the owners of a Sarasota-based conglomerate of high-end restaurants and grocery stores have finally found a buyer.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 26, 2007
Coffee Talk

Big payout looms for Radiation Therapy: Who says private equity deals are dead?Switching up,not giving up: To a developer with major moxie, bad news is just a niggling detail - even bad news like, say, a seriously slumping housing market, where in particular, downtown Sarasota condo sales are as rare as towels in a nudist colony.Another knock against Hometown Democracy: Add Tampa land broker Bruce Erhardt to the list of business people questioning the wisdom of Florida Hometown Democracy, a statewide ballot movement that, if passed, would require citizens to make all major land-use decisions via referendums.Expansion knows no bounds: Brown & Brown, a Tampa- and Daytona Beach-based insurance company, continued its national expansion march this month with the acquisition of Professional Risk Managers of New York.A complicated simplification: Gevity, the Lakewood Ranch-based human resources outsourcing firm struggling with a battered stock price and more recently, a resigned chief executive, says the answer to its problems is to regroup and undertake a simplified and solidified approach to its business.Exodus continues from troubled WCI: The exodus from the corporate ranks of WCI Communities continues as the Bonita Springs-based homebuilder struggles with a brutal housing market.Atlanta nightclub owner hits the links in Naples: Atlanta-based strip club owner Jack E. Galardi of Galardi South Enterprises, has turned his attention

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 26, 2007
Commercial Real Estate Briefs

Sarasota's MPL Lodgings buys Siesta Key hotelGettel Automotive Acura start date nearsNorth American Properties plans Bee Ridge centerLutgert Development starts Tavira developmentFoster & Foster Actuaries relocating to Parker CommonsLee County locals open Sanibel Sweet TreatsShamrock-Hostmark buys Westshore DoubletreeAsbury Automotive Group takes over three Tampa dealershipsXcelience acquires Laurel Street building

  • Manatee-Sarasota
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 19, 2007
Coffee Talk

And the incentives just keep on coming: If necessity is the mother of invention, the Gulf Coast real estate market is mother of the year.An insider's insight into the market: Speaking of how to deal with a down market, the Sarasota Association of Realtors held an "Insiders Insights" conference on the local market Oct. 16.Lawsuits decline, entrepreneurs rejoice: Can lawsuits, the boogeyman constantly lurking in the corner for just about every entrepreneur and small business owner, actually be on the declineSchool enrollment levels out: One way to gauge population growth is to examine school-enrollment data.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 19, 2007
Commercial Real Estate Briefs

Kaplan buys Bradenton store for MRT LawnBenderson plans retail on State Road 681 parcelSarasota's Unique Air moves to ManasotaPraedium Group buys Capital Realty portfolioAdvanced C4 Solutions relocating to Drew ParkLand Capital Group buys Bloomingdale siteHotel developer buys Fifth Avenue buildingsPrince-Bush brings Village Tavern to Fort MyersFort Myers' ESPO Capital buys Plymouth CenterDevelopers gearing up for Charlotte Regional Center

  • Manatee-Sarasota
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 12, 2007
Commercial Real Estate Briefs

Edens & Avant buys Colonial CrossingsLiberty Investment Properties plans second Fort Myers hotelLocation Finders plans small retail stripHoliday Cove RV Resort sold, may turn condoAmsdell family buys site for self storageTempus Electronic owner building new home, moreInvestors acquire Largo's Wachovia buildingBayfront Health System buys suites in St. PeteSterndrive Engineering moving to Oldsmar

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 12, 2007
Coffee Talk

Papa's Calistoga's empire to be: There's only one Calistoga Bakery Cafe. But the single Naples location will multiply to eight by next year, including restaurants in fast-growing Bonita Springs and Estero between Fort Myers and Naples.Former politician turns to real estate: Former Florida State Rep. Donna Clarke, who ran an unsuccessful campaign for the U.S. House of Representatives in 2006 after leaving state government, is getting back into the game.First Community Bank unshackled: The Federal Deposit Insurance Corp. recently lifted its "cease and desist" order on First Community Bank of Southwest Florida in Fort Myers, more than two years after it criticized the bank for its high number of residential construction loans and the need to beef up its scrutiny of customers who might have links to terrorism.Magnetic Receives Web Award: Magnetic, a Tampa-based Web development firm celebrating its 10th anniversary (featured in the June 25, 2007 Review), has received a 2007 Shopping Standard of Excellence WebAward from the Web Marketing Association for its work on www.askergoworks.com, the Web site for Ergo Works Inc., which provides ergonomic products and consulting services.Trump Tower minus Donald equals lawsuits: In another legal wrinkle to a continuing saga, a new lawsuit has been filed against the developers in the Trump Tower condo project in downtown Tampa, a building that if built, would be the tallest on the Gulf Coast.Market Stree

  • News
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