This Week in Real Estate: April 22-28

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Lead Photo: Barefoot Bungalow Realty opens in Bonita Springs

 

RESIDENTIAL

 

NAPLES HOUSING MARKET BREAKS RECORDS IN MARCH

The Naples housing market broke records last month, according to the March 2021 Market Report, released by the Naples Area Board of Realtors (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). According to the report, March’s historic activity included 1,851 closed sales, $1,582,474,997 in total sales volume, and 60,147 showing appointments. This makes March 2021 the highest-performing month on record over the last 13 years —the span of time NABOR has tracked key metrics reflecting the area’s housing market activity. March was also the first month in several years where there were more reported price increases than decreases. To view the entire report, click here.

 


Video courtesy of WINK News 

LOW INVENTORY MAKES IT TOUGH TO BUY HOMES IN COLLIER COUNTY

The housing market is still booming and breaking real estate records in Southwest Florida, making it tough to buy because the few homes on the market are creating bidding wars among cash buyers. Realtors say their inventory is low because everything is selling fast, tripling prices in some cases. The Naples Area Board of Realtors said the median price of homes in the area for March was $400,000, and it’s going up. Sales last month broke records again and more waves of buyers are coming. Realtors say if you’re looking to buy, remember to come pre-approved, and have some backup choices because chances are, if you love the home, someone else will too, WINK News reports.

 

RESIDENCES AT MERCATO COMPLETELY SOLD OUT

The Lutgert Companies’ product at Residences at Mercato is completely sold out. The project was marketed exclusively by Premier Sotheby’s International Realty. Situated on a unique 11-acre site, the gated community offered 45 coastal contemporary residences accentuated by private open-air living spaces. Developed by The Lutgert Companies and built by Lutgert Construction, the community has earned numerous accolades for its new construction offerings.

 

LSI COMPANIES INC. BROKERS 47 RESIDENTIAL LOT PORTFOLIO

LSI Companies Inc. brokered a 47 residential lot portfolio in Cape Coral for $656,560. JHS Builders LLC purchased the property from Sun Property Ventures LLC, Hancock Builders LLC, Builders Grade LLC, Jacobs Drywall & Contracting LLC, P Nichols and Sons LLC, and Q Smith Homes LLC. The deal was brokered by Hunter Ward, CCIM, Christi Pritchett, and Justin Thibaut, CCIM of LSI Companies Inc.

 

FORT MYERS RESIDENTIAL PROPERTY PURCHASED FOR $400,000

LSI Companies, Inc. brokered an approximately 16.38-acre residential property at Gateway Boulevard in Fort Myers, for $400,000. The property was purchased by MA Real Estate of Florida LLC from WCI Communities LLC. The deal was brokered by Alexis North and Justin Thibaut, CCIM of LSI Companies Inc.

 

COMMERCIAL

 

DEMOLITION BEGINS AT COURTHOUSE SHADOWS RETAIL CENTER IN EAST NAPLES

Demolition has begun at Courthouse Shadows retail center in East Naples to make way for its replacement: a 300-unit apartment complex. Kite Realty Group sold the more than 15-acre defunct shopping center for $13.75 million last July to Johnson Development Associates, a developer based in Spartanburg, South Carolina, property records show. Demolition permits were issued April 13 for the inline section of the vacated center that once was anchored by Albertsons, then Publix supermarkets. Also, facing the wrecking ball will be the former OfficeMax and Buffalo Wild Wings freestanding buildings. The remainder of the businesses in outparcels along U.S. 41 East will remain operating at Courthouse Shadows. Johnson Development plans to build a multifamily residential community in five four-story buildings. The first apartments are targeted for completion in September 2022.

 

FORT MYERS OFFICE SPACE ACQUIRED FOR $1.25 MILLION

2815 Tamiami LLC purchased 5,564 square feet of office space at 2815 Tamiami Trail, Fort Myers, for $1.25 million. Gary Tasman and John Albion of Cushman & Wakefield | Commercial Property Southwest Florida represented the seller in negotiating the transaction.

 

FORT MYERS INDUSTRIAL BUILDING BOUGHT FOR $1.2 MILLION

J&L Investments 2014 LLC purchased a 70,567-square-foot industrial building on 1.62 acres at 5971 Country Lakes Drive, Fort Myers, from Symar LLC for $1.2 million. Stan Stouder, CCIM of CRE Consultants represented the seller and Francisco Rivera of Related ISG represented the buyer in negotiating the transaction.

 

FORT MYERS PROPERTY PURCHASED FOR $370,000

Smargasy RE Holdings LLC purchased 3,246 square feet of office space at 12545-551 New Brittany Blvd., Fort Myers, for $370,000. Gary Tasman & John Albion of Cushman & Wakefield | Commercial Property Southwest Florida represented the seller in negotiating the transaction.

 

BONITA SPRINGS INDUSTRIAL CONDO SELLS FOR $230,000

Old 41 Restaurant LLC purchased a 1,396-square-foot industrial condo in Signal Center at 25091 Bernwood Drive, Unit 8, Bonita Springs, from Thomas F. Lachner for $230,000. Fred Kermani, CCIM, AIA of CRE Consultants represented the seller and Catherine Backos of Regasus Realty Group represented the buyer in negotiating the transaction.

 

LEASES

Adaptive Computing leased an 8,405-square-foot office space in 1100 on 5th at 1100 Fifth Ave. S., Suite 201, Naples, from 1100 5th Ave LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

MJC Acquisitions LLC leased an 8,100-square-foot office in World Plaza II at 12501 World Plaza Lane, Building No. 51, Fort Myers, from Giga Ventures LLC. Rodney Fidler, CCIM of Lee & Associates | Naples-Ft. Myers represented the landlord in the transaction.

 

Dual North America Inc. leased a 6,235-square-foot office space at 1100 Fifth Ave. S., Suite 301, Naples, from 1100 5th Ave LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants represented the lessor and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the lessee in negotiating the transaction.

 

Beattie Development Corp. leased 6,000 square feet of industrial space at 16131-2 Pine Ridge Road, Naples, from Boyce Holdings III LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

Maxim Healthcare Services Inc. leased 3,688 square feet of office space at 2891 Center Pointe Dr. from CITEC Florida LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the tenant in negotiating the transaction.

 

Southwest Home Care Inc. leased 3,476 square feet of office space at 12651 McGregor Blvd. Nos. 301/302, Fort Myers, from Gulfstream West LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

Ischebeck USA leased a 2,955-square-foot industrial space at 3050 Horseshoe Drive S., Unit 275, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

Cloverfields Capital Group LP leased a 2,632-square-foot office space in The Collective at 111 10th Street S., Suite 200, Naples, from 10th Street Collective LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants represented the lessee and Doug Olson of Trinity Commercial Group represented the lessor in negotiating the transaction.

 

2M Capital Group LLC leased 2,211 square feet of office space at 12995 S. Cleveland Ave., No. 219, Fort Myers, from Pinebrook Pine LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

Cabinetworks Group Michigan LLC leased a 2,040-square-foot industrial space in the Alico Commerce Center at 17601 Alico Commerce Court, Unit 106, Fort Myers, from 76 North Highway Corp. Brock Rasmussen and James Walls of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

Golden Care Home Health leased 1,977 square feet of office space at 5292 Summerlin Commons Way, No. 1103, Fort Myers, from Gulf Stream East LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

Y & E Contracting Inc. leased a 1,900-square-foot space in the Normark Plaza Commercial Condominiums at 5882 Enterprise Pkwy., Fort Myers, from EB Properties Inc. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, Jerry Messonnier, SIOR and Meaghan Schmitt of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

Guns Galore of Fort Myers #2 LLC leased 1,644 square feet of office space at 12995 S. Cleveland Ave., No. 130, Fort Myers, from Pinebrook Pine LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

SP Enterprises1 LLC (dba Jersey Mike’s Subs) leased 1,482 square feet of retail space from Naples Covenant Group LLC, located at 5040 Tamiami Trail East, Suite No. 200, Naples. Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the landlord and David Oremland of Southeast Retail Group South Florida LLC represented the tenant.  

 

On Demand Pest Control leased a 1,500-square-foot industrial space at 2940 Horseshoe Drive S., Unit 500, Naples from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

David and Cynthia Carroll leased 1,333 square feet of commercial space from First CZ Real Estate LLC located at 28711 South Diesel Drive, Suite 7, Bonita Springs. Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the tenant and Robert Muller of KW Elite Realty represented the landlord.

 

Barry Jones

ON THE MOVE

Hole Montes Shareholder Barry E. Jones has been named to the Village of Estero’s newly formed planning, zoning and design board. Jones, who has 28 years of experience in civil engineering, has served on the Estero design review board for six years, chairing the body for the previous three years. The planning, zoning and design board combines Estero’s previous design review board with its planning and zoning board. The planning, zoning and design board is responsible for reviewing applications for rezoning, comprehensive plan amendments, site plan approvals and similar items for conformance with the Village Land Development Code and Comprehensive Plan. Jones joined Hole Montes in 2015 after serving in various roles for engineering firms, design groups, utilities and development companies. Jones earned a Bachelor of Science degree in civil engineering from the University of Florida and is a member of the American Society of Civil Engineers and the Florida Engineering Society. 

 

 

David Brady Jr.

PBS Contractors has welcomed David G. Brady Jr. to its team as project manager. Brady is the newest edition of PBS Contractors’ commercial division and brings decades worth of project management experience to the team. PBS Contractors is celebrating 35 years in business in Naples and Southwest Florida. The company builds luxury homes and commercial spaces.

 

Premier Sotheby’s International Realty announces the following sales professionals have affiliated with the company’s Naples area sales gallery locations: Joshua Delsing, Stacey Mrozinski, Amanda Stanosheck, Broad Avenue; and Yasmin Juman and Ann Young, Vanderbilt.

 

Gulf Coast International Properties (GCIP) has welcomed Jay Archie, Realtor, to the firm. Archie is a Naples native and graduate of Southwest Florida schools. Archie obtained his real estate license in 2014 and quickly embarked on investment property purchases. He was employed for 13 years by the Naples Beach Club.

 

Matt Holloway

Gates Construction had appointed Matt Holloway as project manager. Holloway is responsible for overall project coordination from the preconstruction stage and permitting through to owner occupancy. He has more than 15 years of diverse experience in construction management with a career focus in multi-family, clubhouse, and large-scale commercial facilities. Gates serves its clients from offices in Bonita Springs, Sarasota and Palm Beach Gardens. 

 

KUDOS

Residential Options of Florida (ROOF) is hosting its Inaugural Charity Golf Tournament at 7:30 a.m. on May 8 at Heritage Bay Golf and Country Club in Naples. The four-person scramble fundraiser will help ROOF accomplish its mission to empower individuals with intellectual and developmental disabilities to successfully obtain and maintain affordable and inclusive housing of their choice. ROOF is partnering with Glide Golf to assist with registration. To register, click here.

 

Barefoot Bungalow Realty celebrated its grand opening in Bonita Springs with a ribbon-cutting coordinated by SWFL Inc. and hosted at Shangri-La Springs Resort & Spa. The office is located at 9220 Bonita Beach Road Southeast in Bonita Springs. Barefoot Bungalow Realty specializes in the traditional buying and selling of real estate and prides itself on providing clients with step-by-step guidance for investment properties and property management. The company is owned by Chris McCabe and Mary Mouritsen, who have a combined 30 years of business and real estate experience.

 

 

Matt Price

Matt Price, CEO and partner at Seagate Development Group, is the newest member of the Gridiron Greats Naples Champions Council. As the exclusive real estate development executive, he joins NFL legends Mike Ditka and Matt Birk and other business professionals in support of the nonprofit. Price and 25 fellow Southwest Florida leaders will rally behind financial grants and no-cost medical assistance for financially destitute, retired football players and their families. This includes coordinating social services to these forgotten-era athletes and providing protective sports equipment to financially at-risk boys and girls youth sports teams throughout the region.

 

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