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News

  • For Subscribers Only
    By
  • Business Observer Staff
  • May 4, 2007
Commercial RE Briefs

Two Cape Coral investors buying Hideaway Waterfront Passarella & Associates building office on MetropolisRegions Bank buys land, plans Cape Coral expansionAlessi Bakery expanding manufacturing facilitiesLynd Residential Properties acquires Bristol Place in TampaInvestors acquire Trouble Creek Shopping CenterSarasota investor Kaplan buys Bradenton propertySarasota, Naples developers buy downtown land for homesIrish American prepares to start Sarasota BaysideColdwell Banker buys Manatee's Buccaneer Realty

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • April 27, 2007
Commercial RE Briefs

Creative Events and Rental builds new warehouseSutter Roofing buys new Naples locationDevelopers plan community on Orange River BoulevardScaffolding maker moves to SarasotaVenice chiropractor buys East Side PlazaAmSouth buys Willette auto parcel for future branchZaremba group buys land for apartmentsNewport Property Ventures buys Normandy ParkCustom Components Co. buys Lynmar office, plans expansion

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • April 27, 2007
Coffee Talk

The Gulf Coast is once again home to some of the nation's boomiest of boomtowns, at least according to Inc. magazine. Mark Vitner, Wachovia Corp.'s senior economist, told a group of executives in Fort Myers recently that Florida will grow by 600 to 700 people per day for the foreseeable future. The nation's largest technology trade association, AeA, says Florida - the land of sunshine and low unemployment - is the fourth largest and second fastest growing cyberstate by tech employment.Florida's high-tech industry added a net 10,900 jobs for a total of 276,400 tech positions in 2005, the latest year available. Financial Florida, an economic development arm devoted to recruiting and retaining non-depository financial services firms for the state, held a kick-off event in Tallahassee April 25. Earlier in April, OSI Restaurant Partners Co-founder and Chairman Chris Sullivan was one of 10 business people to receive the 2007 Horatio Alger Association of Distinguished Americans award, which is given to those who overcome adversity and humble beginnings to achieve great success through the American free enterprise system.Steve Lux is true to his word: In an interview with the Review earlier this year, the recently hired chief executive of Lakewood Ranch-based cultured diamond manufacturer Gemesis Corp. said his game plan was to raise the credibility of the finished product, which is sold directly to jewelry designers.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • April 20, 2007
Coffee Talk

Many of Florida's largest corporations continue to grow like wildfires before the summer rains. Tech Data Corp. just grabbed the 109th spot on the 2007 Fortune 500, only two spots behind Publix Super Markets, which held the No. 1 spot as the largest corporation in the state.Florida's current unemployment rate is now so low that based on a new study of online job vacancies, just about anyone in the Sunshine State who wants to work, can work. The Conference Board, a New York-based business research agency, reports that the number of unemployed in Florida as compared to online job vacancies is 1.1 to 1 - a virtual full employment that many Coffee Talk readers likely know all too well.The Tampa Bay area got the kind of economic report card last week that you don't want to crow about.A scorecard, released April 17 by the Tampa Bay Partnership, shows the seven-county region dropped to fourth place from third, when compared to five similar metro areas of Jacksonville, Atlanta, Charlotte, Raleigh-Durham and Dallas. Only Jacksonville performed more poorly.. This year marks the 10th straight year that NRT was ranked as the top residential real estate firm in RIS Media's annual Power Broker report.Maybe executives fighting the hiring wars (see above item) can look to Florida's plethora of retirees.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • April 20, 2007
A different approach

Developer Leonard Gardner is asking for density increases and city funding to bring workforce housing downtown.

  • Manatee-Sarasota
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
  • For Subscribers Only
    By
  • 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
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