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More News

    By
  • Business Observer Staff
  • July 28, 2006
Real Estate Briefs

Kite Realty Group buys three retail centersIndianapolis-based real estate investment trustInvestment group buys Metro DistributionNaples yacht club buys marina, plans Naples dockominium Sarasota hotelier acquires Regency InnForest Acquisition Fundbuys Lockwood Ridge apartmentDevelopers spend $15 millionfor Placida landACP buys two Clearwater office propertiesPrimerica buys on U.S. 301,developing retail/office plansClearwater's Gibraltar buy Tampa office building

  • Charlotte–Lee–Collier
    By
  • Business Observer Staff
  • July 28, 2006
Coffee Talk

Project still has marquee billing: Not everyone is pulling out of the residential market.Market Slowdown?: Morrison Homes sales associate Virginia Arnold apparently hasn't heard about the residential slowdown that is making many agents and Realtors anxious.Chamber cheerleaders spice things up: Who says business chamber affairs are dull?Condo towers' premiere delayed: Plans to build a pair of 16-story condo towers on a parking lot behind the Hollywood 20 movie theater and Main Plaza, at U.S. 301 and Fruitville Road in Sarasota, are being revised.Tampa office market feeling good: The old economic stand-by of supply and demand is at the heart of what one Tampa-based commercial real estate executive calls the "start of another boom" in the Tampa office market.Michael Saunders & Co. Inman finalist: Michael Saunders & Co., the dominant real estate firm in Sarasota and one of the most well-known statewide, recently received a little national attention: The firm was named a finalist for Inman News' Innovator Award.What do you think?: Floridians are inundating Gov. Jeb Bush with requests to deal with the state's property insurance crisis.Fewer Foreclosures: Florida foreclosure rates dropped 12% in the second quarter of this year over the same period in 2005.

  • News
    By
  • Adam Hughes
  • July 20, 2006
Coffee Talk

WCI Communities: A buying opportunity?: At what point do the stocks of homebuilders become so ridiculously cheap that they're worth buying?Military salute: Sarasota resident Burt Bershon has been recognized for his efforts to bring military academies back to U.S. communities. Bershon, who founded the Sarasota Military Academy in 2002, was recently awarded an Eagle Laureate for creating The Charter Military Schools Development Corp. in late 2003.Former Buccaneer Warren Sapp is back: NFL Star Warren Sapp, a defensive tackle who helped the Tampa Bay Buccaneers win their only Super Bowl, plans to open a HipHopSodaShop on Bruce B. Downs Boulevard, near the University of South Florida.Davis Lucas offers business-ethics insight: Davis Lucas, the chairman of Bonita Springs-based residential developer The Bonita Bay Group, makes few public appearances and when he does, it's usually for the benefit of a local charity.Condominium's loss is apartment's gain: So with the condo conversion market way down, is it truly gloom-and-doom time for the apartment market? Not completely.Paying premium prices at the pump: The high price of gas is reaching into entrepreneurs and executives' pockets yet again.Bleak showing for Florida venture capitalists:Just two Florida firms made Entrepreneur magazine's 2005 list of the top 100 venture capital firms, and both, Palm Beach Capital Partners and HIG Capital Management of Miami, are based in South Florida.

  • News
    By
  • Adam Hughes
  • July 17, 2006
Coffee Talk

Conservancy sides with Babcock: The Conservancy of Southwest Florida, a Naples-based conservation group that has tangled with developers, says the sale of Babcock Ranch to West Palm Beach developer Syd Kitson and Morgan Stanley should proceed.

  • News
    By
  • Adam Hughes
  • July 17, 2006
Real Estate Briefs

Developers acquire land for lifestyle projectSunstream Hotels, Resorts buys Islands ResortInvestors pay $4.6 million for multi-tenant buildingInvestor acquires St. Armands pharmacyDeveloper buys Venice land to build office parkCostello buys office park, converting to condosLion's Gate Project to be at Entrance to RosedaleSan Francisco group acquires apartmentsInvestor buys Willow Oaks ApartmentsBoca attorney purchases pharmaceutical buildingNew Hotel

  • Charlotte–Lee–Collier
    By
  • Adam Hughes
  • July 6, 2006
Coffee Talk

Bam! Emeril will return to Naples: Star chef Emeril Lagasse will return to the Naples Winter Wine Festival in January, Coffee Talk hears.A new vision for Fisher: When entrepreneur Bill Fisher resigned as Southeast Division dealer development manager for Visionary Vehicles in late 2005, Coffee Talk had a feeling there might be a story to follow. Big doings in Sarasota: The talk percolating through Sarasota County's economic development circles is that a company with $1 billion in annual revenue soon will be announcing the relocation of its corporate headquarters staff to Sarasota.Builders Split: Some of the largest members of the Pasco Building Association say it's wrong to sue Pasco County over its recently adopted comprehensive growth management plan, even though they disagree with the new rules that they consider anti-growth.Soft landing in Fort Myers?: Southwest Florida International Airport's record-breaking passenger counts may be showing signs of leveling off, the latest numbers show.Banking the campaigns: With two former Sarasota bankers in the running for Katherine Harris' U.S. Congressional seat, Coffee Talk decided to take a peek at what all the potential candidates have been getting from banks in terms of campaign donations.

  • News
    By
  • Adam Hughes
  • July 6, 2006
Real Estate Briefs

American Retirement Corp. pays $95 million for Freedom VillageAutoMaxx owner buysdealership, nearby landParadise Communities prepares start of Valencia at BurnsNorth Naples Storage owner buys land for more growthWaterman Development Group acquires Lehigh Acres landEmergency Consultants buys home for subsidiaryEquity One acquires Sunpoint Shopping CenterLowe Enterprises Real Estate acquires Land O' Lake property

  • Manatee-Sarasota
    By
  • Adam Hughes
  • July 3, 2006
Real Estate Briefs

Flying Bridge property sold to Naples developerEcono Lodge former owner buys back motelInvestors purchase Tara land for office developmentFairway Development Group buys Boleyn Road landRADISSON to open in '08 in SarasotaGreen Tee complex apartments acquired for $12.5 millionGroup buys Radio Road land for shopping centerNorth American Properties buys land in North Fort MyersFerman Motor buys dealership landMiami investors buy Campus Walk ApartmentsOsprey SA buys Westlake Corporate Center

  • Charlotte–Lee–Collier
    By
  • Adam Hughes
  • July 3, 2006
Coffee Talk

Cape Coral grows, Fort Myers sweats: The two cities that face each other across the Caloosahatchee River in Lee County - Cape Coral and Fort Myers - recently landed in the national spotlight, though for two notably different reasons.Medical manufacturers fete Tampa lawyer: Tampa's Chuck Bavol was recently recognized as one of the best lawyers in the country when it comes to defending the manufacturers of medical devices and supplies.BB&T's Klich splits duties, keeps state title: Longtime Florida banker William "Bill" Klich says he has been running hard for a guy his age (62).HMA stock prices hits new low: The promise of a $250 million stock buyback plan didn't help the stock of Naples-based Health Management Associates after it cut its earnings forecast recently.

  • News
    By
  • Adam Hughes
  • June 23, 2006
Coffee Talk

Hamburgers and postcards: What does the founder of a direct mail company and an executive of a fast-food hamburger company have in common?A magnet for Florida market: Salt Lake City-based MagnetBank wants to loan money to businesses in the Sunshine State.Building material costs still rising: Builders and consumers better get to used to steadily higher materials costs, according to Ken Simonson, chief economist for The Associated General Contractors of America. New Old Harbor raising capital for growth: A 3-year-old Clearwater bank that broke even for the first time in 2005 hopes to close at the end of this month on a public stock offering.Lee County schools foundation chief resigns: Darlene Ann Grossman recently resigned from the Foundation for Lee County Public Schools after building it into one of the county's leading charitable organizations.Commercial market still going strong: The National Association of Realtors in its latest Commercial Real Estate Outlook is predicting an improving commercial real estate market nationally at least through the end of the year.Special interests plague Babcock Ranch deal: West Palm Beach developer Syd Kitson says special interest groups deluged him when a bill for the state to purchase 74,000 acres of Babcock Ranch was passed on the final day of the legislative session.

  • News
    By
  • Adam Hughes
  • June 19, 2006
Real Estate Briefs

Signature Communities Inc. acquires Naples Vanderbilt InnWalport Properties buysCollier Boulevard SquareDRD Murdock Circle Executive CenterMichael Saunders office expands on Longboat KeyJohn McKay buys Parrish landLowe's buys land in North PortHotel industry veterans purchase Tampa blockVision 193 LLC buys 5th Avenue ApartmentsTarpon Restaurant Services buys Pappa's Riverside

  • Charlotte–Lee–Collier
    By
  • Adam Hughes
  • June 19, 2006
Coffee Talk

Name change, 2.0: The DOS Computer Center is getting a name upgrade.Sparkling ethics: Most would agree that Gary Trippe is one of the most ethical people around, which is why few will begrudge him keeping a $10,000 diamond he won at an ethics-award banquet.Wealthy people have feelings: The majority of the wealthiest Americans - and Floridians - are pessimistic when it comes to the housing market (who isn't?) yet as a group, these big spenders are almost at record high-levels when it comes to being optimistic about the overall economy.Mercantile pays premium: Quincy, Ill.-based Mercantile Bancorp paid a healthy premium for Naples-based Royal Palm Bancorp of Naples-about three times book value.Really smart people: Sarasota-based New College is Florida's honors college, so by definition, the school has a lot of smart people walking around its leafy campus a few miles north of downtown Sarasota.Sailing delayed: Material delays and labor shortages have forced Bonita Springs-based Expoships to move up the inaugural sailing of its Grand Luxe ship from December 2006 to June 2007.Money in the bank: It's much too early to count the cash, but organizers of the not-yet-chartered Insignia Bank have reason to feel positive.Lead by doing: Surveys and polls from various outlets show the poor numbers when it comes to employee job satisfaction.Insurer to grow in Florida: At a time when insurance companies and brokers are figurin

  • News
    By
  • Adam Hughes
  • June 9, 2006
Real Estate Briefs

Chartwell Senior Housing buys Venice Bella Vita centerHeartland purchases Venice Hampton InnThe Plumbing Place plans retail buildingMichigan firm proposes mixed-use projectLakewood Ranch to create 'urban hub'Investment group buys Burnt Store landDivosta Homes buys Verona Walk propertyBonita Springs Lodge buys AmericInnBethany Group buys Cooper's Pond apartmentsWoolbright Developmentbuys Murdock CarouselPulte Homes acquires land for Lakeside communityHearthstone buysTampa's Citrus Falls

  • Manatee-Sarasota
    By
  • Adam Hughes
  • June 9, 2006
Coffee Talk

Due concern: Carl Wise, president of Sarasota-based Preferred Commercial Inc. is eagerly anticipating June 15 as a sort-of D-Day for Sarasota Realtors.Best ever: The Bay Area Manufacturing Association is raving about the recent state legislative session: The group says the session was one of the best ever.Naples money managers to leave?: Coffee Talk hears that Bruce Sherman and Gregg Powers may split from Private Capital Management, the hugely successful Naples-based money management firm they oversee.Builders under pressure: When home sales were booming, investors favored builders that owned large tracts of land for future development.Fred Pezeshkan honored by Ellis Island: Fred Pezeshkan began his life in Naples in 1979 with nothing but his education. Hot Growth: Coffee Talk has long known that the Gulf Coast is a thriving business area, but it's always nice to get a little national recognition.FDIC still edgy: The Federal Deposit Insurance Corp. updated its most recent quarterly economic report for Florida last month.Furniture company turns 75: Larmon Furniture, Tampa's oldest furniture family, is celebrating its 75th anniversary the weekend of June 9 with an all-day party in Ybor City.'Shopping' up nicely: Stemming from its much-hyped Spring Convention in Las Vegas, the International Council of Shopping Centers released both its statewide retail statistics and its current listing of the biggest malls in the s

  • News
    By
  • Adam Hughes
  • June 2, 2006
Coffee Talk

Merger helps Regions: The recently announced $10 billion merger of two Alabama banks should help the new Regions Financial Corp. in Sarasota, at least on paper.Construction hammered less: Is the world truly rosier from beneath a hard hat? High fliers: The boom times are continuing at the Sarasota Bradenton International Airport. President Fred Piccolo reports that air traffic continues to grow: It was up 10% over last year, which comes off an 18% jump the previous year. What, me not worry: Part stock analyst, part historian and part scold, Richard X. Bove worries about the future of the American economy.Mel's Diner expanding: Retro-themed Bonita Springs-based restaurant chain Mel's Diner is expanding with two new locations it hopes to open on Tamiami Trail in Sarasota. Recognizing risk takers: From a self-made man who never attended college to a Harvard grad, the seven Tampa-area chief executives among the 30 Florida finalists for Ernst & Young's 2006 Entrepreneur of the Year award are a diverse lot.'Take it to the Hill': The June 18-20 national small business summit in Washington, D.C., will include tips on running a business, as well as politicking with members of Congress and a keynote address by the president and CEO of eBay.

  • News
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