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This Week in Real Estate: August 20-26

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Lead Photo: FGCU Center for Entrepreneurship and Innovation Rendering. Details below.

 

RESIDENTIAL

 

NAPLES HOUSING MARKET SEES SUMMER SALES SURGE IN JULY

The Naples housing market experienced a continued surge in activity during July, which resulted in a 57.3% increase in homes under contract for the month. Closed sales during July increased 35.4% compared to July 2019, greatly surpassing June’s closed sales activity following the lifting of COVID-19 restrictions. However, a decreasing supply of inventory, which broker analysts believe is caused by heightened homebuying interest this summer, is making it difficult to keep up with the strong buyer demand. Out-of-state visitors are here to do more than just golf and visit the beach this summer, according to broker analysts reviewing the July 2020 Market Report released by the Naples Area Board of Realtors (NABOR). There were 15,634 showings during July, less than half the number of showings during June (36,912), yet pending sales increased which indicates that properties were purchased virtually, sight unseen. July’s pending sales spiked to 1,446 from 919 pending sales in July 2019. The majority of sales that resulted in the 35.4% increase in overall closed sales during July occurred in the single-family home market, which saw a 42.8% increase in closed sales compared to a 27.3% increase reported in the condominium market. To view the entire report, visit NaplesArea.com.
 

HOME SALES ARE UP AT PORTOFINO IN MIROMAR LAKES BEACH & GOLF CLUB

In less than 30 days, three model homes and two exclusive homesites within the intimate neighborhood of Portofino in Miromar Lakes Beach & Golf Club have sold, recording nearly $7 million in sales. London Bay Homes is the exclusive builder in Portofino, where only one select custom model and one homesite remain available in the maintenance-free neighborhood of just 20 waterfront villa homesites. “Buyers at Miromar Lakes have been inspired by our fully furnished model homes, and they’re opting for immediate move-in options that meet their lifestyle,” says Mark Wilson, CEO and president of London Bay Homes. Desiring a new home that offered a variety of enhancements, such as expanded outdoor spaces with waterfront views, a modern open floor plan, and enriched luxury amenities along with an active community lifestyle, the homebuyers of all the three recently sold homes were immediately drawn to the home’s architectural design and interior aesthetic. For more information about London Bay Homes, call 239-298-7605 or visit LondonBay.com.
 

COMMERCIAL

 

NAPLES PROPERTY SELLS FOR $1.6 MILLION

Clock Tower Commercial LLC sold 2.84 acres and 11,084 square feet of space located at 11315 Tamiami Tr. E, Naples, for $1.6 million to Lemae Inc. Vedran Vicevic with RE/MAX Realty Group, Commercial Division brokered the sale for the seller and co-brokered by Coldwell Banker Commercial.
 

BONITA SPRINGS PROPERTY SELLS FOR $483,000

Timothy A. Barone sold 4,602 square feet and approximately 0.22 acres located at 26428 Doverstone St., Bonita Springs, for $483,000 to Joseph & Kristan Steinbron. Vedran Vicevic with RE/MAX Realty Group, Commercial Division brokered the transaction.
 

CAPE CORAL SPACE SELLS FOR $455,000

Harold Eskin, Kathy Eskin and Dixie Lee Ball sold the building and land located at 1416-1420 SE 47th St., Cape Coral, for $455,000 to Cape Coral Caring Center Inc. Hal Arkin and Michael J. Frye, CCIM with Frye Commercial Group at RE/MAX Realty Group, Commercial Division represented the seller and Joseph Casella at Local Real Estate represented the buyer.
 

PORT CHARLOTTE PROPERTY SELLS FOR $400,000

Mark and Carla Gering sold 4,524 square feet plus three buildable lots located at 17880 Toledo Blade Rd., Port Charlotte, for $400,000 to ALLMED Billing LLC. Andrew Bauman, CCIM with RE/MAX Realty Group, Commercial Division brokered the sale for the buyer and co-brokered by Andrew Richardson.
 

HOFFMANN FAMILY OF COMPANIES TO ACQUIRE GLOBAL JETCARE

The Hoffmann Family of Companies is set to acquire Global Jetcare Inc., an international air ambulance company and their fleet of five medically equipped long-range Learjets, next month. Global Jetcare has more than 20 years of aviation and air medical experience and knowledge, transporting patients globally to their destination, offering bedside to bedside medical transportation worldwide. The Hoffmann Family of Companies identified core competencies in Global Jetcare to add to its growing company portfolio of travel, hospitality and tourism-related companies. Based in Brooksville, just north of Tampa, Global Jetcare’s headquarters include a 20,000-square-foot aircraft hangar and more than 6,000 square feet of offices located on 11 acres at Brooksville-Tampa Bay Regional Airport with plenty of room for expansion. The company employs more than 40 professionals, including pilots, flight physicians, registered nurses, paramedics and aircraft mechanics. Global Jetcare, founded in 2009, provides service to private individuals as well as hospitals, insurance companies and assistance companies from around the world. The company utilizes proprietary technology and software to map the best-suited route and provides a transport quotation within minutes to clients.
 

NEW LOCATION FOR ITALIAN DELI AND MARKET CONSTRUCTION STARTED

The new location for the Italian Deli and Market began construction on Monday at 902 Park Ave. on Marco Island. MK Architecture in Fort Myers completed the design and permitting phases for the new deli and the general contractor for the project is Heatherwood Construction of Bonita Springs. The newly designed 4,316-square-foot restaurant will seat 150 customers and continue its tradition of classic Italian fare along with a full-service bar and large outdoor seating area. Once completed, it will replace the current Italian Deli and Market owned by Jim and Jared Grifoni at 247 N. Collier Blvd.
 

REDEVELOPMENT PROJECT CLOSES THREE RESTAURANTS ON FIFTH AVENUE IN NAPLES

A strip of former longtime local restaurants and bars on Fifth Avenue South was scheduled to be demolished last week as part of a major redevelopment project in downtown Naples. The existing one-story building with Paddy Murphy’s Irish Pub, Citrus Seafood Restaurant, Bellini Italian Restaurant and Bellini Bar will be replaced with a more than 15,000-square-foot two-story building, said Matthew Slaughter, the property manager and a member of the team that has owned 445-457 Fifth Ave. S. for more than 35 years. The redevelopment project has been in the works for years. “We are looking at around 8,000 square feet on the first floor plus 1,750 square feet of private patio dining area. Most likely two tenants,” Slaughter says. “The second floor will have around 7,000 square feet (of office space).” The construction project still has to go through final approvals and permitting by the city. “We are looking at a year of construction,” Slaughter says. “A year from now, August 2021, we are looking at completion of the new building and will hopefully make the 2022 season. We are excited about moving forward.” Decisions have not been made yet about tenants for the two restaurant spaces on the first floor of the future building, Slaughter said.
 

O-A-K CHOSEN FOR FGCU CENTER FOR ENTREPRENEURSHIP AND INNOVATION

Owen-Ames-Kimball Co. (O-A-K) has been chosen to provide pre-construction and construction management services for the new Center for Entrepreneurship and Innovation at Florida Gulf Coast University (FGCU). Construction has begun on the three-story, 27,000-square-foot structure that will support the FGCU Frank and Ellen Daveler & Sandra Kauanui School of Entrepreneurship. The Center will include a student incubator, maker space, classrooms, labs and associated offices. The total construction budget is approximately $8 million. O-A-K’s project manager is Winfried Krepf, the project superintendent is Scott Reynolds, and project estimator and pre-construction is Abel Natali. The project architects are Rowe Architects Inc. and Parker/Mudgett/Smith.
 

Infrastructure Commences at Crescent B Commons

INFRASTRUCTURE WORK BEGINS FOR SHOPPING CENTER AT BABCOCK RANCH

Infrastructure work is now underway at Crescent B Commons, the Publix-anchored 82,640-square-foot shopping center at a new entrance to Babcock Ranch being constructed about one mile south of the existing entrance on Babcock Ranch Road/State Road 31. Crescent B Commons is 65% leased with Publix Liquors, Encore Nails, Pi Pizza and M’xuma Tacos executing leases in the past 90 days. The shopping center contains 19,600 square feet of inline space, as well as three available outparcels along Cypress Parkway totaling 14,653 square feet. Kitson & Partners, the developer of Babcock Ranch, is seeing steady tenant demand in categories including restaurants, health care, pet care, financial services and general daily needs, such as dry cleaners, pack-and-ship, salons and spas. Vertical construction of the new center is slated to begin in the fourth quarter of this year, with a projected completion of summer 2021. For more information about Babcock Ranch, visit the Woodlea Hall Discovery Center at 42850 Crescent Loop, call 877-709-6620 or visit BabcockRanch.com.
 

Viscaya Prado Veterinary Hospital

STEVENS CONSTRUCTION COMPLETES VETERINARY HOSPITAL IN CAPE CORAL

Stevens Construction has completed Viscaya-Prado Veterinary Hospital, an 11,630-square-foot, 24-hour facility, said Dan Adams, vice president and partner. Located at 1141 Country Club Blvd. in Cape Coral, Viscaya-Prado Veterinary Hospital includes 20 exam rooms, four operating rooms, a treatment area, outdoor run, pharmacy and lab. The veterinary hospital also houses separate dog and cat wards. Stevens Construction was engaged with the client and design team early in their planning, providing preconstruction services such as budgeting and constructability reviews at specific design milestones. Stevens Construction’s early involvement saved the client more than $150,000 and allowed them to open for business ahead of schedule, the company reports. The Stevens Construction team includes project manager Jon Zander, superintendent Mark Battaglia and project administrator Angie Sugg. The architect of record is Ronald J. Melvin. For information, visit stevensconstructioninc.com or call 239-936-9006.
 

SYMPOSIUM OFFERS REAL ESTATE STRATEGIES AND INVESTMENT ADVICE FROM AREA EXPERTS

Developers, investors and real estate experts will address the dynamics of development in the current economic environment at the 2020 Real Estate Symposium from 8:30 to 11 a.m. Thursday, Sept. 17. The annual event is presented by the Real Estate Investment Society (REIS) in partnership with the Lutgert College of Business at FGCU. This year’s program will be delivered as a live webinar. Leading developers, investors and consultants will address site selection and development strategies, risk and reward, for commercial and residential properties. Local values, capital, lending, and return factors will be discussed by a panel of local experts, moderated by Sean Ellis of Roetzel & Andress. There is no charge for REIS members and FGCU students. Admission is $20 for all others. Registration online at reis-swfl.org is required to receive the link to the event.
 

LEASES

 
Luxvil Medical Center Inc. leased an 8,840-square-foot office space at 3800 Colonial Blvd., Suite 200, Fort Myers, from 3800 Colonial Blvd LLC. Enn Luthringer, CCIM of CRE Consultants negotiated the transaction.
 
The Athens Group leased a 7,200-square-foot office space in Collier Park of Commerce at 2975 Horseshoe Drive, Suite 400, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.
 
Solaris Foundation Inc. leased an approximately 5,000-square-foot building located at 1951 J and C Blvd, Naples, FL 34109 to Roofing and Reconstruction Contractors of America LLC. Matt Stepan, CCIM and Jeffrey Clapper of Premier Commercial Inc. negotiated the transaction.
 
Royal Palm Coast Holdings Inc. renewed a lease for approximately 3,792 square feet of space located at 2503 Del Prado Blvd. S., Unit 504, Cape Coral, to Insite Managed Solutions LLC, and expanded to approximately 2,355 square feet of space in Unit 101. Michael J. Frye, CCIM with RE/MAX Realty Group, Commercial Division represented the transaction.
 
Cape Partnership LLC leased 3,000 square feet of space located at 1217 SE 47th Terrace, Cape Coral, to BIG8 BBQ Inc. Jennifer Horne, CCIM with RE/MAX Realty Group, Commercial Division represented the transaction.
 
Royal Palm Coast Holdings Inc. renewed approximately 2,735 square feet of space located at 2503 Del Prado Blvd. S, Unit 410A, Cape Coral, to I-BOS Counseling Center LLC. Michael J. Frye, CCIM with RE/MAX Realty Group, Commercial Division represented the transaction.
 
See Capital, LLC leased an approximately 2,450-square-foot flex space located at 1035 Collier Center Way, Suite 5, Naples, from Collier Center Way Development Inc. Matt Stepan, CCIM and Jeffrey Clapper of Premier Commercial Inc. represented the tenant and Jim Doane of Welsh Commercial Real Estate Services represented the landlord.
 
International Marketing Direct leased a 2,400-square-foot flex/office space in the International Business Center at 6835 International Center Blvd., Suite 8, Fort Myers, from International Flex SWFL LLC. Randal Mercer of CRE Consultants represented the lessee and LSI Companies represented the lessor in negotiating the transaction.
 
Royal Palm Coast Holdings Inc. leased approximately 2,330 square feet of space located at 2503 Del Prado Blvd. S, Unit 430, Cape Coral, to Orion Capital Solutions LLC. Michael J. Frye, CCIM and Rachael Guertin with RE/MAX Realty Group, Commercial Division represented the transaction.
 
Parker Management Florida LLC leased a 2,144-square-foot office space at 25081 Bernwood Drive, Suite 1, Bonita Springs, from Windjammer Development Inc. Fred Kermani, CCIM, AIA of CRE Consultants negotiated the transaction.
 
Patinella’s Chicken Grill Inc. re-leased its approximately 1,932-square-foot retail space located at Shoppes at Plantation, located at 6810 Shoppes at Plantation Drive, Unit 11, Fort Myers, from Summus Property Owners LLC. Matt Stepan, CCIM and Jeffrey Clapper of Premier Commercial Inc. negotiated the transaction.
 
Courtney Plaza renewed 1,746 square feet of space located at 4120 Cleveland Ave., Unit C, Fort Myers, to Min Zheng Inc. Michael J. Frye, CCIM with RE/MAX Realty Group, Commercial Division represented the transaction.
 

ON THE MOVE

 

Jackie Nelson

Jackie Nelson has joined Premier Sotheby’s International Realty as marketing director of the Naples region. In this role, she will be leading the development and execution of regional marketing plans, media buying and corporate training. Based out of the brokerage’s Naples headquarters, she will be supporting 14 regional office locations. Nelson previously served as the marketing and business development director for a local interior design group. During her tenure, she was named marketing director of the Year by the Collier Building Industry Association (CBIA). Her previous experience includes development and marketing roles in the nonprofit sector and music industry. She is currently a board member of both the PACE School for Girls and CBIA.

 
WDG Architecture Naples hired Allison Horner as interior architect project manager. Horner brings with her years of experience in computer rendering, space planning, and furniture and finishes selections. Horner holds a Bachelor of Fine Arts in interior design and business of art and design minor from the Ringling College of Art and Design. WDG Architecture Naples is a full-service architecture firm with a residential and commercial design studio. For more information, visit wdg-architecture.com.
 
Studio+ has appointed Daniel R. Pickett as principal in its Fort Myers office. Pickett has worked at multiple top 100 national and international design firms, according to a news release. As principal, Pickett will put his 25-plus years of broad market, design, and operational experience to mentor and lead designers while assuming various business development responsibilities. Pickett will serve as principal-in-charge of key national clients and represent Studio+ locally. His addition to Studio+ significantly expands its portfolio of design work. For more information, visit wearestudioplus.com.
 
Wade Smallwood has joined the team at Heatherwood Construction as a project superintendent. Smallwood has nearly 35 years of experience in the construction industry. Smallwood’s experience includes managing the construction of luxury custom homes and a wide variety of commercial construction projects throughout Southwest Florida. He also is a U.S. Army veteran. Heatherwood Construction, based in Bonita Springs, is a full-service commercial general contractor serving the region from Marco Island to Tampa since 1980. The firm provides complete construction services, including site search and selection, feasibility analysis, site development, value engineering, vertical construction, LEED certification and more. For more information, call 239-949-6855 or visit HeatherwoodConstruction.com.
 

KUDOS

 
RE/MAX Southeast Region has recognized Jim McMenamy with the 2019 No. 8 Individual Commissions Paid Commercial Award and Erica Stehouwer with the 2019 No. 10 Individual Commissions Earned Residential Award. Additionally, Abigail Kesslak with RE/MAX Realty Group, Commercial Division received her Accredited Commercial Professional (ACP) designation.
 
Residential Options of Florida (ROOF) was awarded a $15,000 grant by the Angel Fund at the Community Foundation of Collier County. The grant award will support ROOF’s mission to empower individuals with intellectual and developmental disabilities to successfully obtain and maintain affordable and inclusive housing of their choice. This $15,000 grant award will support ROOF’s new Tenant Based Rental Assistance (TBRA) program, which will make housing affordable for low-income residents with developmental disabilities. ROOF will provide financial assistance and case management for tenants with disabilities in Collier County so they can afford to rent a home for no more than 30% of their gross income. A case manager will help residents develop a self-sufficiency plan that addresses the development of life skills, employment skills and financial literacy skills. The program is scheduled to launch on Oct. 1. Additional funding comes from Collier County through an allocation of federal funding from the U.S Housing and Urban Development HOME program. For more information, visit flroof.org or call 239-774-ROOF (7663).

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