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News

  • For Subscribers Only
    By
  • Business Observer Staff
  • December 8, 2006
Commercial RE Briefs

Fort Myers hoteliers buy Sun Tan Village MotelTarget buys land, constructing SuperTargetWaste Services buys landfill, disposal businessNDC head, McKay make plans for L.E.C.O.M. housingProcaccianti Group buys Bradenton Holiday Inn ExpressJon Kleiber leaves one family firm to start his ownDeveloper/hotelier, CPA building Lutz Residence InnTierra Verde project changes hands, development continuesCNL Income Properties buys Tampa's Grand Prix

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • December 8, 2006
Coffee Talk

Coffee Talk: Horizon Mortgage Co. president N. J. Olivieri spent most of his working days in the month leading up to Thanksgiving in a Sarasota courtroom, intently involved in the lengthy and complicated trial between various partners who built the Ritz-Carlton hotel in downtown Sarasota. And while a jury ultimately awarded Olivieri $1.85 million, the trial might as well have been a root canal. Cancel the call to the coroner: Pineapple Square is not dead. Tampa-area politicos and economic development officials were in full chest-thumping mode this week, claiming another victory in the ongoing effort to bring cutting-edge research and technology to the Sunshine State. The latest entry is SRI International, a Menlo Park, Calif.-based research firm that plans to open a marine science research facility in St. Petersburg.American Banker, the leading banking industry trade publication in the U.S., feted Orion Bancorp's Jerry Williams at a gala at the Pierre Hotel in New York City on Nov. 30.There weren't any surprises in the inaugural report on the ups and downs of the real estate market put together by the University of Florida's Center for Real Estate Studies.Ed Morton, the former chief executive officer of not-for-profit NCH Health Care System in Naples, lashed out at for-profit hospitals during an academic lecture at Florida Gulf Coast University recently.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • December 1, 2006
Coffee Talk

Coffee Talk appreciates a good David slays Goliath story, especially during the holiday season, and the case of the Bellehumeurs versus St. Louis-based national brokerage firm A.G. Edwards definitely fits the bill.Median sale prices for existing single-family homes fell across the Gulf Coast of Florida in October versus the same month last year. A positive exception was the Tampa Bay area, which saw median prices level off, according to figures from the Florida Association of Realtors (FAR).Coffee Talk bets that Bruce Sherman and Gregg Powers at Naples-based Private Capital Management are celebrating the $300 million check they recently got from Baltimore-based Legg Mason.Take the folks at Business 2.0 magazine off the Christmas card list. The magazine's New Rules of Real Estate issue pegged Southwest Florida as the number two area in its "Where not to buy" list. Cape Coral-based Whitney Information Network's shares fell 31% Nov. 21 after it said the Securities and Exchange Commission is conducting an investigation of its stock-market education programs and corporate acquisitions.Entrepreneur and Net Infuse CEO John Turner didn't take just any vacation this year: The 44-year-old took on Mount Everest - the world's highest peak - to prove he could and to raise money for The Children's Home, Tampa.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • December 1, 2006
Commercial RE Briefs

First Tampa Development buys landCapital Realty Investors buys building in Hidden River ParkDirected Capital Resources' company buys four Taco BelInvestors pushing to annex Pine Island parcelsCroci North America buys land for future expansionDevelopers buy Bonita Beach property for Bellezza ShoppesRetailer Marco Destin buys St. Armands storeDevelopers buy S.R. 70 land for Lion's Gate DevelopmentBenderson Development revisiting Park of CommerceGold Coast Eagle Distributing completes purchase

  • Tampa Bay-Lakeland
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 24, 2006
Commercial RE Briefs

Cypress Creek Capital buys Eastpointe Office buildingHarrod Properties buys Bayshore Professional CenterSunrise Senior Living completes Aston Gardens acquisitionsSongy partners, D'Jamoos Group buy in Forum for office parkBonita Springs Baymont Inn sold, being renovatedN.J. entrepreneur, partner plan Lehigh carwash, office buildingBurton-Katzman Development buys L-3 Cattlemen propertyWilliams family takes over two Farley Funeral HomesKVN Heating, Air moving to larger Centre Park suite

  • Tampa Bay-Lakeland
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 24, 2006
Coffee Talk

Coffee Talk smells a trend brewing. On Nov. 10, we reported on Sarasota-based luxury homebuilder John Cannon's plans to open a commercial construction business, partly to make up for decreasing revenues stemming from the residential building slump. A recent report shows that Bradenton professional employer organization Gevity HR is the largest PEO in Florida and the third largest in the country. Members of Florida's largest nonprofit business group, Associated Industries, spoke at a Nov. 17 public hearing before the U.S. Interior Department's Minerals Management Service, urging the government to open two million acres in the Gulf of Mexico to oil and gas drilling. Inventory is up 180% from a year ago and sales are down, way down, but the Pinellas Realtor Organization says the housing market is stabilizing.The Bill and Melinda Gates Foundation Trust bought 887,000 shares of WCI, or 2.1% of the shares outstanding, for about $15.5 million. Finance chiefs and other top executives responsible for complying with federal accounting requirements are in line for some hefty raises in 2007, a leading staffing services firm reports. Top bankers, information technology managers and auditors will also have thicker wallets and purses.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 17, 2006
Coffee Talk

Icahn buys 4% of WCI, credit downgradedSource Interlink chief resignsNaples-based TIB Financial Corp., the parent of TIB Bank, acquired The Bank of Venice for about $16 million. That's about 1.9 times book value.Private companies in need of capital might find what they're looking for at the Florida Venture Forum's 16th annual conference Feb. 6-7 at the Boca Raton Resort & Club in Boca Raton.Goldman Sachs investment banking division co-chief Scott Kapnick and his family recently gave $10 million to the Naples Botanical Garden for the development of 160 acres that will include cultivated gardens at Bayshore and Thomasson drives.Naples-based International College named its business school for Kenneth Oscar Johnson, a former ExxonMobil executive and CEO of Florida-based Belcher Oil.eal Estate executives from across the country converge on the Gulf Coast to talk strategy.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 17, 2006
Commercial RE Briefs

Investment group buys, renovates American MarinaPraedium Group buys, renames Polo's at BrandonFort Lauderdale buyer pays $87.8 million for City CenterCrossland announces MiraBay mixed-use developmentGold Coast Eagle sells center to CokeRiviera Dunes outparcel fetches $6.2 millionSarasota group buys Budget InnRaymond Building Supply invests in land for future expansionHunt Construction Group preparing land for Tuscany ParkAdam Smith buys 0.37 acres, plans three-story project

  • Tampa Bay-Lakeland
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 17, 2006
Insurance tops agenda

Florida Governor-elect Charlie Crist jumped tracks en route to fulfilling his pledge to make his "anti-murder" bill the first order of business. Now, he is focusing on an issue with broad economic implications: Insurance.The insurance jam threatens the health of the Gulf Coast's construction industry - one of the primary engines in our economic vitality.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 10, 2006
Coffee Talk

The annual Capeopoly real estate conference in Cape Coral drew more than 400 people recently. It's easy to understand why: Cape Coral was the nation's fifth-fastest growing city last year.Cannon seizes commercial opportunity in housing slowdown The tech company accelerator located in Pinellas County might be one of the best-kept secrets a startup can find.John Cannon: Housing slowdown not carrying other sectors downOutback buyback done deal?Fox Electronics was honored with the 2006 Southwest Florida Blue Chip Community Business Award, an awardthat recognizes businesses in Lee and Collier counties that have successfully overcome adversity.The ongoing Wilson family saga is set to add another chapter Nov. 14, when an empty land plot in a Sarasota subdivision goes up for public auction. Downtown Tampa is finally on the cusp of becoming a 24-hour city where people live and work, as the first phase of Grand Central at Kennedy in Channelside nears completion and other residential towers take shape, according to the newest office market report by GVA Advantis Real Estate Services Co.Bonita Bay gives more money to schoolsWCI Communities outlook remains grimHappy birthday to you, DooleyMack

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 10, 2006
Commercial RE Briefs

Landmark Development Group buys in Grey Oak for TraditionsHampshire Generational buys Mission HillsChicago company buys Fort Myers Beach self-storage complexFirst Priority buys land for Ellenton branchBlackpoint, Bison buy second to last portion of Washington CrossingSynovus Bank acquires land for Tamiami branchSarasota's Mooring Development buys Regency Coporate ParkPolitis Properties plans Drew St. office buildingChildren's Urology buys Midtown suite

  • Charlotte–Lee–Collier
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 3, 2006
Commercial RE Briefs

Developers Diversified Realty Trust buys Inland RetailDavis Marcus Partners acquires two Naples office buildingsMiami developer buys land for apartments or condosKite Realty buys lot in Shops at Eagle CreekING Clarion buys Town Place, plans improvementsTennessee group acquires shopping centerFedex acquires Tampa terminal as part of company purchaseRegency Centers, Macquarie buy Merchants CrossingUniversity Parkway Friendly's sold to new ownershipNew flex parks planned for Creekwood, LenaEmpire Equity buys Shadowood, others from Equity Residential

  • Tampa Bay-Lakeland
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 3, 2006
Coffee Talk

American Banker honors Orion Bank's Jerry Williams Michael Saunders & Co. is going Hollywood - for a day, anyway. The real estate firm's founder, Michael Saunders, recently flew out to Beverly Hills, where she was a top speaker at a Christi's Great Estates conference on innovative marketing for small residential projects or large-scale developments. Sarasota County Commissioners recently approved giving the EDC $60,000 to create a Film and Entertainment office.Analyst says Chico's stock may jump The Review's 2006 Entrepreneur winner, Amscot Financial founder Ian MacKechnie, was named "Person of the Year" by an industry trade group.Home sales down across the boardTech Forum award finalists announced Sun Coast Industry Expo postponed

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • November 3, 2006
Gulf Coast Impact Fees Go Up, Up, Up

Impact fees are rising all along the Gulf Coast, sometimes at breathtaking rates.Governments say the increases are needed to pay for rising land and construction costs for new roads, schools, libraries and other services. While local government leaders contend the fees help keep overall taxes down for current residents, they are also a politically palatable way to raise taxes as the fees are enacted theoretically on newcomers. The problem is that anyone who builds a new house must pay the tax.Impact fees become a huge tax on new housing, new commercial businesses, new office buildings, new restaurants and so on.

  • News
  • For Subscribers Only
    By
  • Business Observer Staff
  • October 27, 2006
Commercial RE Briefs

Liberty Property Trust makes long-term play with Renaissance Miami nonprofit buys Largo's Shadow RunColonial Bank plans Bloomingdale branchDeveloper buys Palmetto land for flex park, building-research firmRingling School buys nearby Shell station landCritical Path Development planning office, flex parkRam, Myrtlewood Partners buy Cleveland Ave. retail propertiesFlorida Gulf Bank buys Cape Coral rehab centerInvestors compiling industrial assemblage on Bruner Lane

  • Tampa Bay-Lakeland
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