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JULY MARKET REPORT SHOWS SELLERS & BUYERS ADJUSTING TO A NEW NORMAL
The buying frenzy the Naples housing market experienced during the past year has simmered and is being replaced with what brokers say will be our new normal: a low inventory market with fast turnover of quality homes priced right, according to the Naples Area Board of Realtors (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). Inventory decreased 77.2% to 1,295 homes in July 2021 compared to 5,672 homes in July 2020, and there were 30 fewer closed sales and a 2% drop in showings, according to the July 2021 Market Report released by NABOR. The median closed price in July increased 28.8% to $469,950 from $365,000 in July 2020. For the full report, click here.
SCATTERED RESIDENTIAL LOT PORTFOLIO PURCHASED IN CAPE CORAL
LSI Companies Inc. brokered a 69 scattered residential lot portfolio in North Port, Cape Coral for $767,000. The property was purchased by JHS Builders LLC, 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 buyer was represented by Hunter Ward, CCIM, and Christi Pritchett of LSI Companies Inc.
NEW SENIOR LIVING COMMUNITY IN PUNTA GORDA ISLES BREAKS GROUND
The Meridian at Punta Gorda Isles broke ground at 2001 Aqui Esta Drive and is slated to open its doors in early 2023. The 127-unit, 116,000-square-foot senior living community, spread over three floors, is managed by national seniors housing operator Meridian Senior Living and co-developed by Meridian and national developer Madison Marquette. National design and engineering firm CASCO partnered with Tampa general contractor Diaz Fritz Group on the project. The Meridian will feature studio, one-bedroom and two-bedroom apartments with safety features like grab bars and a nurse call system. The memory care neighborhood offers private or companion suites for residents with Alzheimer’s disease, Parkinson’s, or other types of dementia. The Meridian joins its sister community Atrium at Liberty Park in Cape Coral as the two Southwest Florida communities managed by Meridian Senior Living.
HAMMOCK PARK APARTMENTS REACHES NEW STAGE IN DEVELOPMENT
MK Architecture has completed the permit drawings for the new 265-Unit Hammock Park Luxury Apartment Community in Naples by FL Star Development and Construction. The project is located at the intersection of Collier Boulevard and Rattlesnake Hammock Road. The four-story apartment buildings feature a two-story amenity center complete with a resort-style beach-entry pool and activities courtyard. Other amenities include a putting green, poolside cabanas, barbeque pavilion, trellis seating and fire pits with lounge seating. In the permitting phase, the project is anticipated to be completed by the end of 2022.
NAPLES COMMERCIAL SPACE SELLS FOR $4.125 MILLION
Dinkytown Investors LLC purchased approximately 6,600 square feet of commercial space known as Riverchase, at 231 Ninth St. S., Naples, from 231 9th Street South LLC for $4.125 million. David J. Stevens, CCIM, of Investment Properties Corp. negotiated this transaction.
PUNTA GORDA FLEX CONDOS ACQUIRED FOR $1.95 MILLION
SES 095, LLC purchased eight flex condos totaling 16,000 square feet and two building pads on 5.73 acres in Acline Center at 3769-3789 Acline Road, Punta Gorda, from Marcel Imbert & Aljenabus LLC for $1.95 million. Fred Kermani, CCIM, AIA, of CRE Consultants negotiated the transaction.
22.4-ACRE COMMERCIAL PROPERTY BROKERED IN NORTH FORT MYERS
LSI Companies Inc. brokered a 22.4-acre commercial property at 17200 McDowell Drive, North Fort Myers, for $1.8 million. Bayshore RV LP, a Delaware Limited Partnership, acquired the property from Wenona/I39 LLC, an Illinois Limited Liability Co., and Bayshore 22-RET LLC, a Florida Limited Liability Co., as tenants in common. The deal was brokered by Randy Thibaut, ALC, and William Rollins, CCIM, ALC, of LSI Companies Inc.
FORT MYERS LAND BOUGHT FOR $1.4 MILLION
16108 Lee Rd LLC purchased 3.99 acres of vacant land at 16108 Lee Road, Fort Myers, from Schmitt Properties LLC for $1.4 million. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, Jerry Messonnier, SIOR, and Meaghan Schmitt of Lee & Associates | Naples – Fort Myers negotiated the transaction.
BONITA SPRINGS RETAIL BUILDING PURCHASED FOR $1.48 MILLION
Premier Investments of Naples LLC purchased a 6,045-square-foot retail building on 0.46 acres in Bonita Beach Plaza at 4836 Bonita Beach Road SW, Bonita Springs, from PG&C Properties LLC for $1.148 million. Bill Young and Biagio Bernardo of Lee & Associates | Naples – Fort Myers negotiated the transaction.
NAPLES OFFICE CONDOS SELL FOR $750,000
Real Estate Redefined LLC purchased 10 office condos totaling 9,233 square feet in Courtview Building at 2652-2666 Airport-Pulling Road S., Naples, from Courtview LLC for $750,000. Fred Kermani, CCIM, AIA, of CRE Consultants represented the seller and Lisa Wang of Sun Realty represented the buyer in negotiating the transaction.
NAPLES PROPERTY PURCHASED FOR $480,000
Dr. Richard L. Bloy purchased a 2,002-square-foot office condo in Piper’s Crossing at 1213 Piper Blvd., Suite 201, Naples, from MER Crossing 1 LLC for $480,000. Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants represented the seller and Patricia McClimans of SVN Lotus represented the buyer in negotiating the transaction.
CAPE CORAL MEDICAL OFFICE BUILDING BOUGHT FOR $435,000
Dennis Leaton and/or Assigns purchased a 1,862-square-foot fully leased medical office building at 3632 Del Prado Blvd., Cape Coral, from Seth & Jeanette Schurman for $435,000. Enn Luthringer, CCIM, of CRE Consultants represented the seller and Jack Britton of Professional Realty Consultants represented the buyer in negotiating the transaction.
NAPLES BUILDING ACQUIRED FOR $525,000
Nick’s Restaurant and Houka Lounge Inc. purchased a 1,000-square-foot building on a 0.54-acre property at 3091 Tamiami Trail E., Naples, from 3091 Tamiami Trail Realty Corp. for $525,000. Bill Young and Biagio Bernardo of Lee & Associates | Naples – Fort Myers negotiated the transaction.
BONITA SPRINGS CONDO BOUGHT FOR $385,000
Snyder Real Estate Holdings LLC purchased a 1,505-square-foot condominium in the Bonita Business Park Condominiums at 28200 Old 41 Road, Suite 208, Bonita Springs, from Morgan Douglas Enterprise for $385,000. Bill Young and Biagio Bernardo of Lee & Associates | Naples – Fort Myers represented the seller and Tom Synder of Premiere Plus Realty represented the buyer in the transaction.
SEAGATE COMPLETES SCOTLYNN’S CORPORATE HEADQUARTERS
Seagate Development Group has completed the development and construction of Scotlynn USA Division Inc.’s North American corporate headquarters at 9597 Gulf Research Lane in Fort Myers. In addition to 8 acres of site improvements and a road extension, crews built a 60,000-square-foot, class-A multinational transportation and logistics facility – more than 59,000 square feet larger than Scotlynn’s original office in 2010. It includes a gym, a basketball court, a cafeteria, an indoor/outdoor recreational space with an eating area, and private offices and collaboration centers for 350 management and operations team members. By 2024, that number will increase to 460, the company states.
Naples Soap Company Inc. leased a 19,661-square-foot space in the Southwest International Commerce Park at 14601 Jetport Loop, Suite 150-180, Fort Myers, from Knott Realty Group. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, and Jerry Messonnier, SIOR, of Lee & Associates | Naples – Fort Myers represented the landlord and Jay Crandall, CCIM, of Crandall Commercial Group represented the tenant in the transaction.
Cogent Bank leased 5,381 square feet of office space from Southern Holdings 3 LLC located at 999 Vanderbilt Beach Road, No. 100, Naples. Rob Carroll, CCIM, MAI, and Craig D. Timmins, CCIM, of Investment Properties Corp. negotiated this transaction.
L. Worden leased 3,000 square feet of industrial space at 16141-8 Pine Ridge Road, Fort Myers, from Boyce Holdings III LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord in negotiating the transaction.
Royal Arcade LLC leased 2,650 square feet of retail space at 4224-8 Cleveland Ave., Fort Myers, from Miracle Plaza FM LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord in negotiating the transaction.
Bridge for the Life Health Services LLC leased a 2,200-square-foot office in the Cypress Lake Office Center at 9405 Cypress lake Drive, Suite 2, Fort Myers, from Leongolden Professionals LLC. Rodney Fidler, CCIM, of Lee & Associates | Naples – Fort Myers negotiated the transaction.
Sunset Auto & Truck LLC leased a 2,040-square-foot industrial space in the Alico Commerce Center at 17061 Alico Commerce Court, Unit 103, Fort Myers, from 76 North Highway Corp. Brock Rasmussen and James Walls of Lee & Associates | Naples – Fort Myers negotiated the transaction.
ON THE MOVE
Phillip M. Rigsby and Matt Bresee have joined eXp Realty, one of the fastest-growing real estate tech companies in the world. Rigsby & Bresee focus on Naples and Southwest Florida Real Estate with 31 years of combined experience as full-time professional Realtors. Additionally, they have opened a new branch office at 5633 Strand Blvd., Suite 310, in North Naples. Rigsby & Bresee have been an award-winning real estate team for sales volume since joining together. A subsidiary of a publicly traded company, eXp Realty has more than 60,000 agents in 17 countries.
John R. Wood Properties has added the Salay team, consisting of Kimberly and John Salay and Lindsay Umphred, to its Broad Avenue South office. Kimberly is an award-winning, multimillion-dollar residential real estate sales associate with nearly 20 years of experience in waterfront property, resort property and golf course community residences. John began his real estate career after 28 years of experience in the sporting goods industry. The Salays have been Southwest Florida residents since 2007. Umphred, the team’s newest sales associate, grew up visiting her grandfather in Pelican Bay and moved to Naples full-time after graduating from Purdue University with a degree in public relations and strategic communication.
DeAngelis Diamond welcomes David Puls to the team as senior preconstruction manager. In his new role, Puls is responsible for leading preconstruction and estimating activities, overseeing the development and updating of project budgets throughout each process stage. With more than 23 years in project management within the construction sector, Puls has experience leading teams to achieve operational goals for complex projects. His project portfolio totals more than 4.7 million square feet and $1.4 billion. After receiving his degree in architecture from the University of Illinois Urbana-Champaign, Puls began his career in Chicago before transitioning to the Naples area in 2018. He is based at the DeAngelis Diamond Naples office.
Gates Construction has added Tony Duncan as senior superintendent. Duncan is responsible for daily onsite supervision of Gates’ projects, including quality control, safety, security, project closeout and transition planning. Duncan has more than 40 years of experience in the commercial construction industry, including various high-end, large-scale project types in the education, hospitality and healthcare sectors. Duncan is based out of Gates Construction’s headquarters in Bonita Springs.
Gulfstream Homes sponsored the Rotary Club of Marco Island’s annual golf tournament fundraiser on Aug. 21. The event raises funds each year to support the Marco Island Charter Middle School. With more than 377 students, the public charter school continues to benefit from the support of area donors. Gulfstream Homes has supported various programs, including Flags for Heroes, the Marco Island Yacht Club Youth Sailing Program, the Marco Island Area Association of Realtors’ Scavenger Hunt, Christmas Island Style’s Annual Holiday Parade and more.
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