This Week in Real Estate: April 29-May 4

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Lead Photo: Mahana Breeze Apartments project rendering

 

RESIDENTIAL

 

GMA ARCHITECTS & PLANNERS DESIGNS WATERFRONT RESIDENTIAL BUILDING IN CAPE CORAL

GMA Architects & Planners has completed its designs for a nautical-themed, multi-family residential building that will offer waterfront living in southern Cape Coral. Located along Coronado Parkway, the building’s two-story design reflects a Bahamas-inspired architectural style and tropical waterfront setting. Residents will have waterfront views across the 80-foot-wide Atlantic Canal, which provides direct access to the Caloosahatchee River. Residents will also have access to private boat slips and a custom-built boat dock, as well as a common pool deck and gathering space that overlooks the boat basin. The building offers ground-level parking below two levels of residential living space. Once completed, the multi-family building will offer 12 two-bedroom and four three-bedroom units. Project partners broke ground in early April and anticipate completion in February 2022. The general contractor is Owen-Ames-Kimball Co.

 

MAHANA BREEZE APARTMENTS COMING TO MCGREGOR BOULEVARD IN FORT MYERS

StoreBuilders Inc. has awarded MK Architecture a new project to complete the architectural and engineering drawings for the Mahana Breeze Apartments project to be located on McGregor Boulevard in Fort Myers. The project will consist of three four-story buildings totaling 116 multi-family units of luxury rental apartments. It will also include a 4,500-square-foot amenity center complete with a resort-style pool. Currently in the construction document phase, the project is anticipated to be underway later this year. MK Architecture specializes in commercial architecture with offices in Southwest Florida and Lexington, Kentucky. 

 

COQUINA SANDS ESTATE SOLD DURING PRE-CONSTRUCTION

Naples luxury home builder Diamond Custom Homes has sold the Mayfair, its new estate home on Yucca Road in Coquina Sands, during its pre-construction phase. The Mayfair was offered for $7.495 million. Situated on a 0.44-acre site, the five-bedroom, five-full-and-one-half-bathroom estate is designed by Jon Kukk, AIA, of Kukk Architecture & Design, P.A., with interior design by Sherri DuPont of Collins & DuPont Design Group and landscape architecture by Christian Andrea of Architectural Land Design. The Mayfair is scheduled for completion in June.

 

COMMERCIAL

 


Video courtesy of WINK News

CONSTRUCTION PROJECTS PAUSED AS MATERIAL COSTS INCREASE

Construction workers and companies are facing challenges during the pandemic trying to finish their projects. Back-ordered items have workers waiting months to finish their projects. In some cases, prices skyrocketed 400% during that waiting period. Construction projects are up locally and nationwide, so the demand for materials is up as well. That means costs have risen, too, and have more than tripled in some cases. Higher prices are affecting builders and buyers and also leading to a spike in thefts. The Charlotte County Sheriff’s Office has responded to an increase of equipment, materials and even water softeners being stolen from construction sites, WINK News reports.

 

COMMERCIAL OUTPARCELS AT HOPE PRESERVE SELL FOR NEARLY $7 MILLION

LSI Companies Inc. brokered two commercial outparcels totaling approximately 10.77 acres in the Hope Preserve development in south Fort Myers for a combined nearly $7 million. The 3.7-acre and 7.06-acre parcels were sold for more than $2.1 million and $4.8 million, respectively. Both parcels were purchased from Hope Hospice and Community Services Inc. The Hope Preserve property is on the northeast corner of Metro Parkway and Ben C Pratt/Six Mile Cypress Parkway. Both deals were brokered by Justin Thibaut, CCIM, and Christi Pritchett of LSI. Other projects planned for Hope Preserve include a new Hope Hospice location and a 124-key hotel with additional parcels available for retail, office or commercial use.

 

NAPLES COMMERCIAL SPACE SELLS FOR $2 MILLION

Dena Tria Palda LLC purchased 12,800 square feet of commercial space for $2 million from Barbara Anne Cobb for the C & S Warehouse Land Trust located at 351 & 371 Production Blvd., Naples. Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the seller and William V. Gonnering, CCIM, SIOR of Investment Properties Corp. represented the buyer.

 

FORT MYERS COMMERCIAL PROPERTY SELLS FOR $1.3 MILLION

LSI Companies Inc. brokered an approximately 3.45-acre commercial property in Fort Myers for $1.3 million. Comerlat Hospitality 3 LLC and Comerlat Hospitality 4 LLC purchased the site from Colonial Seven Five LLC. The property is located at 3607 Colonial Court, 3613 Colonial Court, 3621 Colonial Court, and 3629 Colonial Court, Fort Myers. Justin Thibaut, CCIM and Hunter Ward, CCIM of LSI Companies Inc. brokered the deal.

 

FORT MYERS INDUSTRIAL BUILDING BOUGHT FOR $1.2 MILLION

J&L Investments 2014 LLC purchased a 7,000-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.

 

NAPLES PARCELS PURCHASED FOR $900,000

Performance Way LLC purchased two parcels of vacant land totaling 1.1 acres for $900,000 from Robert Singh & Pramilla Sarin located at 16136 Performance Way and Parcel No. 64288000428, Naples. Christine McManus, CCIM, SIOR of Investment Properties Corp. negotiated this transaction.

 

FORT MYERS INDUSTRIAL UNITS ACQUIRED FOR $450,000

T & C Exchange Accommodators purchased a 4,095-square-foot contiguous set of industrial units in the Pyramid Park Commercial Condominiums at 3560 Work Drive, Units 10, 11 and 12, Fort Myers, from Lou Pasco LLC for $450,000. Brock Rasmussen of Lee & Associates | Naples-Fort Myers negotiated the transaction.

 

A side view of the property located at 1100 Sixth Ave. South in Tin City, recently purchased by The Shoppes at Dockside LLC.

NEW COMPANY ACQUIRES DOCKSIDE BOARDWALK, SAVES IT FROM DEMOLITION IN NAPLES

The Shoppes at Dockside LLC has acquired four mixed-use commercial buildings at Dockside Boardwalk, 1100 Sixth Ave. S., near Tin City in downtown Naples. The group purchased the 22,000-square-foot property — which includes a mix of office, retail and restaurant space — on March 12 for $4.89 million, Collier County property records show. The property is currently 33% occupied by Mino Italian Pizzeria, The Parrot Bar & Grill and other tenants. According to ownership representative Clayton Coleman, the previous owner had plans to raze the property and redevelop it into condominiums. “We bought this nostalgic property to rescue it from demolition,” said Coleman. “We plan to restore it and lease it to unique local businesses.” The Shoppes at Dockside LLC is managed by Coleman and Bonnie Reams. The LLC acquired the downtown Naples property, with buildings dating to 1984, from the Brookline Companies LLC, which bought the property in 2017 for $4.55 million. The new owners also own The Shoppes at Vanderbilt in North Naples. The Shoppes at Dockside is actively seeking tenants for the property. For information, call 239-776-9803 or email leasing@shopvanderbilt.com

 

Video courtesy of WINK News

MORE HOTELS COMING TO DOWNTOWN FORT MYERS

A hotel building boom is underway in downtown Fort Myers. Following the launch of the Luminary Hotel last fall, three more hotels are on the way. A new hotel is targeted for completion next year on an empty lot at the intersection of First Street and Jackson Street. The AC Marriott is in the financing stages but has been given zoning approval to build an eight-story, 132-room hotel. Two other hotels, a Holiday Inn and Hampton Inn, are further along. Five Place LLC, the group behind the Marriott’s construction, is hoping to strike a deal with the city. They want to lease 60 parking spaces in the Main Street garage near the proposed site for hotel staff and guests. The group would pay the city a rental fee of $55 per space a month for the first five years of their 40-year proposal, WINK News reports.

 

HOLE MONTES COMPLETES SERVICES ON NEW WASTEWATER PUMP STATION IN COLLIER COUNTY

Hole Montes has completed construction engineering and inspection services on a new $10.6 million wastewater pump station that doubles the plant’s daily processing capabilities. Master Pump Station 306 replaced a 35-year-old facility that had aging mechanical and electrical components, the company says. Located at 3935 Thomasson Lane in Naples, Master Pump Station 306 can process 15.8 million gallons per day compared to the previous capacity of 7.5 million gallons, according to Hole Montes. Master Pump Station 306 contains three electric chopper pumps and three diesel in-line booster pumps inside a two-story building. The project eliminates the need for a wet well outdoors because wastewater is continuously pumped through the system into the South County Water Reclamation Facility. Hole Montes’ project team was led by senior project manager David W. Schmitt and inspector Mike Roddis. Project partners included PWC Joint Venture as project contractor and AECOM as consultant engineer. The project was a major initiative of the Collier County Water-Sewer District.

 

SEAGATE MAKES SIGNIFICANT PROGRESS ON SCOTLYNN HQ 

Seagate Development Group is making significant progress on Scotlynn USA Division Inc.’s North American corporate headquarters. It is all taking place at 9597 Gulf Research Lane in Fort Myers. Crews have started the first lift of asphalt and curbing for the parking lot area and prepared the building’s exterior for painting. Inside, the team completed the drywall on the first floor as well as painted right behind it. The finishes on the second and third floors are scheduled for completion a few weeks after the finishes on the first floor. The updates come seven months after the commercial development company broke ground on the 60,000-square-foot, class-A multinational transportation and logistics facility. The eight-acre corporate office will be occupied by 350 management and operations team members over the next three years, including more than100 new employees. All site work is projected to be complete by mid-May. The project is slated for completion in July. 

 

HEATHERWOOD CONSTRUCTION BREAKS GROUND ON RICK JOHNSON DEVELOPMENT STORE

Heatherwood Construction has begun work on an automotive/tire store for Rick Johnson Development, located on Daniels Parkway in Fort Myers. This will be the fifth facility that Heatherwood has built for the Rick Johnson team. Brian Blackwell will lead the project team as project manager. Levi Whiteleather, superintendent, will oversee the daily operations. The project engineer is Boral Engineering & Design. GOIA Architecture designed the project. Walter Crawford is president of Heatherwood Construction.

 

NAPLES CLASSICAL ACADEMY CONSTRUCTION PROGRESSES

Naples Classical Academy,  a new tuition-free classical curriculum K-12 charter school in North Naples, is on pace to open on schedule and at full student capacity for the 2021-22 school year. Construction of the two-story, 70,000-square-foot building is on track to be completed for the school to open in August. Summit Construction Management Group, the company handling construction for Naples Classical Academy, has poured the slab foundation and formed the building exterior through tilt-wall construction. Sports and recreational fields are also being developed for the new school year. Located at 10270 Immokalee Road, the 17-acre campus also has future development phases planned, which include a 14,000-square-foot gymnasium. Families interested in enrolling their students for the 2021-22 school year are encouraged to apply now. Naples Classical Academy will open for the first year with grades K-10. Eleventh grade will be added the subsequent year, and 12th grade will be added the year after.

 

SUFFOLK COMPLETES GATEWAY HIGH SCHOOL CONSTRUCTION

Suffolk recently completed construction of the School District of Lee County’s newest school, Gateway High School. Located near the intersection of State Road 82 and Griffin Drive, the three-story Gateway High School sits on 55.6 acres, totals approximately 300,000 square feet and will accommodate more than 2,000 students. Suffolk provided preconstruction and construction management services for the project. Construction began in September 2019. In addition to Cambridge AICE (Advanced International Certificate of Education), Advanced Placement and AVID (Advancement Via Individual Determination) curriculum options, students can sign up for one of the school’s four career academies that include programs that offer job training for cybersecurity, the medical field, veterinarian services and carpentry. In addition to classrooms, academies and administrative areas, the school includes a media center, gymnasium, cafeteria, weight room, locker rooms, field house and theater. As part of the extensive preconstruction process, Suffolk implemented a 3D modeling effort alongside the district, design team, and key trade partners. Suffolk previously worked with the Lee County School District on multiple projects, including the rebuild of Dunbar High School.

 

VANTAGE CONSTRUCTION COMPLETES PRESCHOOL IN CAPE CORAL

Vantage Construction Services LLC has completed work on the new Kid’s World Preschool at 1942 Skyline Blvd. in Cape Coral. The newly constructed 10,000-square-foot building will accommodate 200 children and has a lobby, nine fully outfitted classrooms, a breakroom and storage area, and a fenced outdoor playground. The preschool opened to children at the end of April. Owned by Evelyn Monteagudo, this is the second Kid’s World Preschool in Cape Coral, with the first in operation at 1126 NE 16th Terrace, Cape Coral.

 

 

LEASES

 

Red Bull Distribution Co. Inc. leased a 23,611-square-foot space in the Meridian Center at 10400 Meridian Center Pkwy., Suites 5-6, Fort Myers, from Knott Realty Group. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates | Naples-Fort Myers negotiated the transaction.

 

Matilda Jane Clothing leased 8,100 square feet of office space at World Plaza at 12051 World Plaza Lane in Fort Myers. Steve Wood and Adam Palmer, CCIM, SIOR of LandQwest Commercial represented the tenant. Rodney Fidler with Lee & Associates represented the landlord, Giga Ventures, LLC.

 

Rust Never Sleeps Architectural Salvage leased a 7,100-square-foot office space at 1922-A Evans Ave., Fort Myers, from Cheap Rent LLC. Enn Luthringer, CCIM of CRE Consultants negotiated the transaction.

 

Premiere Music & Film Systems leased a 5,160-square-foot industrial space in Collier Park of Commerce at 2900 Horseshoe Drive S., Unit 1100, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

Millennium Physician Group LLC leased 4,502 square feet of office space at 8380 Riverwalk Park Blvd., No. 200, Fort Myers, from Marivan Realty Co. Inc. Gary Tasman and John Albion of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord in negotiating the transaction.

 

Black Tulip Coffee LLC leased 4,200 square feet of commercial space from L.T.A. Associates, Inc. located at 1780 Commercial Drive, Naples. William V. Gonnering, CCIM, SIOR & Christine McManus, CCIM, SIOR of Investment Properties Corp. negotiated this transaction.

 

The Juicery LLC dba Juicelation leased 4,200 square feet of retail space from Nin – Yahl LLC, located at 5430 Yahl Street, Naples. Christine McManus, CCIM, SIOR of Investment Properties Corp. negotiated this transaction.

 

Princess Draperies leased a 2,000-square-foot office space in Metro Commerce Center at 11220 Metro Pkwy., Unit 3, Fort Myers from Metro Commerce Center LLC. Randal Mercer of CRE Consultants negotiated the transaction.

 

3820 LLC leased a 1,648-square-foot retail space in Charles Square at 1400 Gulf Shore Blvd. N., Suite 148, Naples, from Charleston Square of Naples LLC. Bill Young and Biagio Bernardo of Lee & Associates | Naples-Fort Myers negotiated the transaction.

 

Creason’s Fine Art and Supplies Inc. dba Creason’s Fine Art leased 1,264 square feet of retail space from 305 Fifth Avenue South Holdings LLC, located at 305 Fifth Ave. S., Unit 331, Naples. Tara Stokes of Investment Properties Corp. negotiated this transaction. 

 

ON THE MOVE

 

 

Kris Duran

DeAngelis Diamond, headquartered in Naples, has promoted Kris Duran from senior project manager to executive project manager. In her new role, Duran will become the operations lead for all project management in the Nashville office. She will be responsible for owner/client business relations, lead and train other project managers, and act as the liaison between the owner, client, architect and DeAngelis Diamond. Duran has completed more than $900 million in construction projects during her 20-year construction career. She is currently overseeing several DeAngelis Diamond projects.

 

 

Kevin Brown

Seagate Development Group has hired Kevin Brown as vice president of development. A 15-year veteran of the residential construction, development and sales industry, Brown will seek, manage and oversee preexisting projects and new land acquisitions, particularly for luxury residential communities. He launched his career with Toll Brothers in 2005, first as a project manager and then as vice president and senior vice president of the national builder’s Southwest Florida residential division. A North Fort Myers native, Brown graduated from the University of Miami with a degree in business administration that focused on finance. He played baseball for the university’s NCAA national championship teams and was drafted to the Atlanta Braves organization before retiring from minor league baseball in 2004.

 

Stock Custom Homes has added Chad Moore as its new regional director of construction in Naples. Moore is responsible for coordinating with superintendents in the field and supporting them in managing subcontractors, homeowners, architects, and designers. Moore brings more than 25 years of experience in the construction industry, working on both residential and commercial projects, including previously owning his own construction company. He holds a Bachelor of Science in Business Administration degree in finance from the University of Central Florida.

 

 

KUDOS

 

Owners of houses most urgently in need of repair will have a chance to save their homes under a partnership between the Fort Myers Community Redevelopment Agency (CRA) and Habitat for Humanity of Lee and Hendry Counties. The program will help preserve homes that have been cited for repeated code violations and potential safety hazards. Owners must live in the homes, meet income requirements and pass a background check. The first phase of the program will target houses in the Dr. Martin Luther King Jr. redevelopment areas. The CRA will identify a list of eligible homes and provide funding, and Habitat for Humanity will work with homeowners to apply for the program, assure requirements are met and determine what repairs are needed. Habitat will do the repair work using staff, local subcontractors and volunteers. To qualify for the program, homeowners must be below 80% of the area median income, have no tax liens against their property, be current with their mortgages and live in their homes. All adult members of the household must pass criminal background checks. For projects costing more than $5,000, homeowners will have to sign off on a lien on their property that would be forgiven after five years. If the homeowner sells the house or refinances before five years, the repair costs would have to be repaid. Eligible homeowners will qualify for up to $25,000 worth of repairs. The CRA has budgeted $250,000 for this phase of the program, which the City Council approved in February.

 

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