This Week in Real Estate: Aug. 26-Sept. 1

Lead Photo: Heatherwood Construction has completed construction on a new Sports Center at WildBlue

 

 

RESIDENTIAL

OASIS GRAND CONDOMINIUM IN FORT MYERS SELLS FOR $71 MILLION
Oasis Grand Tower II, a 32-story Fort Myers condominium tower near downtown and off Palm Beach Boulevard, sold for $71 million on Aug. 23. Westside Capital, an investment group from Miami, bought the tower at 3040 Oasis Grand Blvd., from Lofton Island Development LLC. With 265 units, the average sale price per unit was almost $268,000. The previous owner bought 224 units at $160,000 per unit in 2011. The sale price likely checked in at half of what new construction would have cost, said Jakub Hejl, president of Westside Capital. “We believe there will be tremendous demand – driven in part by the fact that there are a lot more ‘renters by choice’ today – people who are willing to pay a premium for an apartment home in a great location with an array of amenities,” Hejl said. “We’re planning to make some improvements to the property, mostly cosmetic enhancements to bring the common areas and units up to date and also incorporate some smart building technology.” 

FL STAR ANNOUNCES NEW APARTMENT COMMUNITY IN SOUTH NAPLES
FL Star has announced plans for a new luxury apartment complex, Hammock Park Apartments, to be located at the corner of Rattlesnake Hammock Road and Collier Boulevard in South Naples. The complex will include 265 units, offering a selection of apartment sizes and configurations. Construction on Hammock Park Apartments is expected to begin this fall. Hammock Park is being developed by FL Star. At the helm of FL Star, a conglomerate of real estate entities, are David E. Torres and Gary Hains, who offer more than 45 years of combined experience in the construction industry. 

Front rendering of 640 Starboard Drive, Naples

BORELLI CONSTRUCTION UNVEILS MOORINGS MODEL PLANS
Borelli Construction of Naples has unveiled plans for its newest luxury model in The Moorings waterfront community. Located at 640 Starboard Drive, Naples, the soft contemporary southern coastal style residence will be built on an oversized southern exposure lot. The home will feature five bedrooms, five full and two half baths, and a study, offering 4,886 square feet of air-conditioned living space and 7,252 total square feet on one floor. The interior design of this new model home will exhibit a cool transitional style. All floors in the main areas and bedrooms will be completed with Legno Bastone wide plank European White Oak flooring and extra-large crown moldings and baseboards will be provided in every room. Construction is expected to begin soon, with completion and availability anticipated by summer 2022.

MK ARCHITECTURE COMPLETES DESIGN FOR PUNTA GORDA APARTMENTS
MK Architecture has completed the architectural design services for the new Marion Avenue Luxury Apartments, located on a riverfront site on E. Marion Ave. in Punta Gorda. The project will consist of three three-story luxury apartment buildings over parking, containing 60 units, and two two-story street-liner buildings with 12 live-work units over first-floor retail/office space. The project is being developed by Shaheen Development of Saginaw, Michigan, and is expected to be complete in 2022.

Babcock Ranch entrance

BABCOCK RANCH SURPASSES 1,500 HOMES SOLD
Kitson & Partners announced that its community Babcock Ranch, America’s first solar-powered town, has surpassed 1,500 homes sold, with more than 470 homes sold year-to-date. With sales surging by 61% for the first half of the year, Babcock Ranch also jumped nine spots to the No. 25 position in the country’s 50 top-selling master-planned communities of 2021 by RCLCO Real Estate Advisors. Babcock Ranch is introducing new neighborhoods later this year to meet buyer demand. Residents will also have new retail offerings at Crescent B Commons, the 82,640-square-foot Publix-anchored shopping center at a new entrance to Babcock Ranch, slated to open Sept. 3. Publix is expected to open in mid-to-late September. Babcock High School is also being developed in the community.

 

COMMERCIAL

NAPLES COMMERCIAL SPACE SELLS FOR $3.685 MILLION
PKG Naples LLC purchased approximately 3,175 square feet of commercial space known as the former Another Broken Egg Café at 670 Tamiami Trail N., Naples, from 670 Tamiami Trail N LLC for $3.685 million. David J. Stevens, CCIM, and Tara L. Stokes of Investment Properties Corp. negotiated this transaction.
 
FORT MYERS RETAIL SPACE PURCHASED FOR $1.4 MILLION
Reitsma Family Partnership has purchased 7,504 square feet of retail space at 14630 Palm Beach Blvd., Fort Myers, for $1.4 million from Diamond Eastgate LLC. Gary Tasman, CEO and principal broker, and Gretchen Smith, director and broker, Cushman and Wakefield | Commercial Property Southwest Florida LLC, represented the seller in negotiating the transaction.
 
LSI COMPANIES INC. BROKERS 2.76-ACRE FORT MYERS PROPERTY
LSI Companies Inc. brokered an approximately 2.76-acre industrial property at 6180 East Pine Parkway in Fort Myers for $510,000. 6180 East Pine Parkway LLC acquired the property from Cedar Green Homes L.L.C. Justin Thibaut, CCIM, and Hunter Ward, CCIM, of LSI Companies Inc. represented the seller.
 
BONITA SPRINGS OFFICE CONDO BOUGHT FOR $390,000
Fountain Medical LLC purchased an approximately 1,990-square-foot office condo located at 9420 Fountain Medical Court, Unit 101, Bonita Springs, from Oakes Farm OP LLC for $390,000. Matt Stepan, CCIM, and Jeffrey Clapper of Premier Commercial Inc. represented the buyer and Alexis North of LSI Commercial represented the seller.
 
NAPLES LAND ACQUIRED FOR $360,000
Shermania 19 LLC purchased an 18.5-acre site on Kreske Way, Naples, from Anita May Sit & Run He Lie for $360,000. Fred Kermani, CCIM, AIA, of CRE Consultants represented the seller and Margie Castro of Affinity International Realty represented the buyer in negotiating the transaction.
 
BUC-EE’S CANCELS PLANS FOR HUGE GAS STATION/STORE IN FORT MYERS 
Buc-ee’s, a gas station with a cult following because of its eclectic mix of merchandise, snacks and clean bathrooms, has pulled out of its plans for a store in Fort Myers. “Sometimes projects fall through,” says Jeff Nadalo, a Buc-ee’s spokesperson. “It’s part of being in real estate development.” In August 2017, Buc-ee’s purchased the 158-acre site off the eastern end of Martin Luther King Jr. Boulevard and just west of Interstate 75 for a 120-pump station, but put the land back on the market several months ago. The proposed Fort Myers location would have posed logistical issues for motorists. “The on-site economics were substantially higher than originally anticipated,” Nadalo says. “We’re looking for sites throughout the state.” To read the full story, click here.
 
MARE TERRA RISTORANTE REPLACING PALLADIO TRATTORIA IN BONITA SPRINGS 
Mare Terra will continue a string of Italian restaurants this fall in Bonita Springs when it opens at 28340 Trails Edge Blvd., an address on the west side of U.S. 41 that has been home to Palladio Trattoria, Fabio Trattoria Italiana, Anthony’s Trattoria and Noodles Cafe during the last two decades. After serving northern Italian cuisine for five years, Palladio closed on July 18 and Chef Emanuela “Emma” Calcara returned to Italy. Naples restaurateur Sal Sinzieri, known for creating MiraMare Ristorante and Fish in the Village on Venetian Bay, and Bice on Fifth Avenue South, recently bought business space in Southern Exposure Plaza to launch his new Italian restaurant, targeted to open in November. 
 
PUBLIX LAUNCHES NEW SUPERMARKET IN NAPLES AREA
Publix Supermarket opened on Aug. 26 in the new Fiddler’s Creek Plaza, 15050 Sandpiper Lane, along Tamiami Trail East in South Naples. The 52,000-square-foot grocery store includes a drive-thru pharmacy. A Publix Liquors store also is part of the 64,000-square-foot retail center at the new eastern entrance into Fiddler’s Creek gated community. The new grocery store is open from 7 a.m. to 9 p.m. daily. Meanwhile, Publix at the Shops of Marco, 175 S. Barfield Drive, will relaunch on Sept. 16 after it closed a year ago for demolition and redevelopment on Marco Island. The supermarket anchoring the southern end of the shopping center was expanded from 39,795 square feet to 48,000 square feet with a pharmacy and a liquor store. 
 
AVE MARIA DEVELOPMENT OPENS NEW OFFICE SPACES IN TOWN CENTER  
Meeting a growing demand, Ave Maria Development is opening Loyola Professional Suites with two new office tenants this fall in the Ave Maria Town Center. The new professional offices are opening in September on the second floor at 5072 Annunciation Circle and will include 13 executive suites with only one space remaining for lease. The suites range from 120 to 250 square feet. They are leased by various businesses, including a marketing firm, an attorney, a property management firm, a logistics business and an IT company. Amenities include a greeting lobby, two conference rooms, open spaces, lounge seating and a community kitchen area. The open-air walkable town center spans more than 100,000 square feet and serves as the central hub of the community with more than 40 merchants, including restaurants, shops and services. 
 
BIG LOTS OPENING STORE THIS FALL IN BONITA SPRINGS 
Big Lots is targeted to open a retail store this fall in the former Stein Mart space in the Prado at Spring Creek, 25199 Chamber of Commerce Drive. Store signs are already installed at the Bonita Springs retail center anchored by the Prado Stadium 12 cinema on U.S. 41. Expect Big Lots to launch anytime from the end of September through November, depending on when shipments arrive, a store spokesman said. A year ago, Stein Mart Inc. filed relief under Chapter 11 of the bankruptcy code and permanently closed its stores, including two in Lee County and two in Collier County. 
 
GATES CONSTRUCTION AWARDED RENOVATION PROJECT AT VINEYARDS COUNTRY CLUB
Gates Construction has been awarded a renovation project at Vineyards County Club in Naples. The renovation will include demolition of the existing kitchen, reconfiguration of the existing space, coordination of new kitchen equipment installation and the installation of new walk-in coolers and freezers. The project is slated for completion this winter. PK Studios is providing design services. 
 
SEAGATE BEGINS VERTICAL CONSTRUCTION OF RICE INSULATION & GLASS
Seagate Development Group has completed the building pad and commenced vertical construction of Rice Insulation & Glass’ 35,000-square-foot facility at Alico Trade Center. This will be the first tenant at the 40-acre, Seagate-owned business park located off Alico Road and I-75 in Fort Myers. When completed, it will include 3,000 square feet of office space for sales and management teams, such as a reception area with a workstation, a conference room, four oversized offices with 10 workstations, three standard offices, training and break rooms, and closets and restrooms. Additional space is reserved for a warehouse of insulation, glass, shower door and shelving materials, as well as high-dock and grade-level doors and 100 parking spaces. It will be surrounded by other single-tenant, flex and/or industrial buildings. The freestanding building is projected to be complete in the fourth quarter. Studio+ is the architect, while Quattrone & Associates is the civil engineer. 
 
HEATHERWOOD CONSTRUCTION COMPLETES SPORTS CENTER PROJECT AT WILDBLUE
Heatherwood Construction Co. has finished construction on a 13,800-square-foot, state-of-art Sports Center at WildBlue. WildBlue is a 3,500-plus-acre community that features 1,100 preserve and sparkling-lake surrounded home sites located off Corkscrew Road in Estero. The Sports Center includes an exercise room, an aerobics room, a pro shop, a salon and an outdoor bar on the gathering terrace. The project is led by the Bonita-Springs-based team’s senior project manager, Rafael Valdes, and supervised by Wade Smallwood. Humphrey-Rosal Architects designed the Sports Center.

 

LEASES

CDM Smith Inc. leased a 4,301-square-foot office space in Fairfax Center at 4210 Metro Parkway, Suite 230, Fort Myers, from WCP Fairfax LLC. Randal Mercer of CRE Consultants represented the lessor and Dustin McFarland of Savillis represented the lessee in negotiating the transaction.

Solaris Rehab LLC leased an approximately 2,485-square-foot space at Riverview Corporate Center, 27300 Riverview Center Blvd., Suite 101, Bonita Springs, from Brookwood SFL I & II LLC. Matt Stepan, CCIM, and Jeffrey Clapper of Premier Commercial Inc. represented the tenant and Randy Mercer of CRE Consultants represented the landlord.

 

ON THE MOVE

Lina Ayers

John R. Wood Properties has hired Lina Ayers has joined the company as a sales associate in the Central Naples office. Before beginning her real estate career in 2015, she spent 18 years as a domestic and international flight attendant for American Airlines. At the time of the American/US Air merger, Ayers was selected from among 22,000 flight attendants to advise the company’s board of directors on client relations and in-flight operations. Having lived in Europe and Asia, she is multilingual and speaks English, Farsi and conversational German. Originally from Alexandria, Virginia, Ayers earned a degree in business administration from DeKalb College in Decatur, Georgia. A member of the Naples Area Board of Realtors, her professional designations include Real Estate Negotiation Expert, Accredited Buyer’s Representative and Seller Representative Specialist.

Brett Turner

Gates Construction has added Brett Turner as project manager/estimator. Turner is responsible for overall project coordination from the preconstruction stage and permitting through to owner occupancy, developing and managing databases, performing quantity take-offs and reviewing bid documents. He has more than 40 years of diverse experience in construction management with a career focus in multi-family, education, and large-scale commercial facilities. Brett is based out of Gates Construction’s headquarters in Bonita Springs.

Studio+ has hired five professionals to its headquarters in Fort Myers. The five additions include Michele Gouley, quality assurance; William Caple, project architect; Molly Dyal, BIM manager; Barbara Hughes, senior project coordinator; and Amanda Ferguson, interior designer. Gouley joined Studio+ in early 2021 as a licensed building plan examiner and quality assurance manager, bringing more than 21 years of experience to the firm. Caple is Studio+’s newest project architect, with more than nine years of experience working in the health care, hospitality and residential architectural markets. Dyal is a BIM manager with more than eight years of experience as a designer and Revit master, working on multi-family, health care, and commercial projects. Hughes relocated and joined Studio+ in late June as a senior project coordinator with 16 years of experience. Ferguson is an interior designer with 11 years of corporate, commercial and health care experience. 

Phillip M. Rigsby and Matt Bresee have joined eXp RealtyRigsby & 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.

Salay team

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.

 

KUDOS

Premier Sotheby’s International Realty has surpassed its 2020 record-breaking total sales volume, achieving above $7.1 billion year-to-date, the brokerage reports. Its closed sales volume has increased 130% year over year. With more than 40 offices from Southwest Florida to the High Country of North Carolina, Premier Sotheby’s International Realty is the No. 2 brokerage in the Sotheby’s International Realty global network, encompassing 1,000 affiliated offices in 75 countries, according to the company. Ranked No. 21 in the annual REAL Trends 500 survey of the top U.S. residential sellers by volume, it is also No. 19 in RISMedia’s Top 500 Power Broker Annual Report.