This Week in Real Estate: Jan. 28-Feb. 3

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RESIDENTIAL

 

FGCU STUDY SHOWS SWFL HOUSING MARKET BENEFITED DURING PANDEMIC

According to a new report from Florida Gulf Coast University, Southwest Florida’s economy has a promising side effect from the pandemic. Single-family home building permits were up 39%, home sales up 37% and home prices up 13 to 30% within the last year. Thanks to low interest rates during the pandemic, more people are upgrading or buying new homes, especially since more people need office space to work from home, said Amir Neto, the interim director of the Regional Economic Research Institute in the Lutgert College of Business at FGCU. For a link to the Southwest Florida Regional Economic Indicators report, click here.

 

COLLIER COUNTY APPROVES PLAN FOR 230 MORE HOMES IN THE ISLES OF COLLIER PRESERVE

Collier County commissioners have approved a plan by Minto Communities to build 230 more dwelling units in The Isles of Collier Preserve residential community in East Naples. Commissioners voted 4-1 Tuesday on an ordinance to amend the county’s land development code to allow the development of new single-family homes on more than 100 acres on the western edge of The Isles, which stretches from U.S. 41 East to Bayshore Drive. The new homes will be built along Bayshore Drive south of Thomasson Drive in the Sabal Bay mixed-use planned unit development. Commission Chair Penny Taylor was the lone dissenter on the rezoning ordinance that required four votes for approval. 

 

DECEMBER REPORT: LOW HOME INVENTORY ON MARCO ISLAND

Sold single-family homes in Marco Island were up by 40% in December to 569 versus 406 in December 2019, according to Gerry Rosenblum, a broker associate with Berkshire Hathaway HomeServices Florida Realty. Sold condominiums were up by 34% percent in December to 621 versus 462 in December 2019; sold single-family vacant lots were up by 127% in December. Inventory was down in December for single-family homes, condominiums, and single-family vacant lots, Rosenblum reports. For more information, click here

 

COMMERCIAL 

 

CAPE CORAL WALGREENS PROPERTY SELLS FOR $7.794 MILLION

A group of Connecticut LLC investors on Jan. 20 purchased an approximately 15,120-square-foot Walgreens property from CP WSB-20 LLC located at 4 NE Pine Island Road, Cape Coral, for $7.794 million. Rob E. Carroll and Craig D. Timmins of Investment Properties Corp. negotiated this transaction for the buyer. Stream Capital Partners negotiated this transaction for the seller.

 

ALVA PROPERTY SELLS FOR $4.397 MILLION

Conservation 2020 – Lee County purchased 2200 Carter Lane, Alva, for $4.397 million from Amtel Farm, Inc. Lane Boy of Cushman & Wakefield | Commercial Property Southwest Florida represented the buyer and seller in negotiating the transaction.

 

NAPLES OFFICE SPACE ACQUIRED FOR $1.462 MILLION

The Ferrante Group LLC purchased approximately 2,388 square feet of office space from 503 Bayfront LLC, located at 1333 3rd Ave. S., Unit 503, Naples, for $1.462 million. Rob E. Carroll, CCIM of Investment Properties Corp. negotiated this transaction for the buyer. Bill Klohn, Resort Advisors, negotiated this transaction for the seller.

 

FORT MYERS PROPERTY PURCHASED FOR $213,000

Mark Rupolo purchased 12610 World Plaza Lane, No. 2, Fort Myers, for $213,000 from WP 12610 LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the buyer in negotiating the transaction.

 

NAPOLI ON THE BAY PIZZERIA OPENS SIXTH LOCATION IN NAPLES AREA, PLANS SEVENTH IN BONITA

The sixth location of Napoli on the Bay Pizzeria launched in mid-January in Pebblebrooke Center on Collier Boulevard just south of Immokalee Road in North Naples. The family-owned pizzeria’s small unit next to Stevie Tomato’s Sports Page was home to Pizza Hut for six years until the franchise closed last fall. Operating for more than 35 years in Naples, Napoli’s seventh location is scheduled to open in a few months in Entrada, a redeveloped retail center on the northeast corner of Bonita Beach Road and Old 41 Road in Bonita Springs, owner Tony Brito said. Napoli on the Bay, 15215 Collier Blvd., Suite 305, is open 10:30 a.m. to 9 p.m. Monday through Thursday, 10:30 a.m. to 10 p.m. Friday and Saturday, and noon to 9 p.m. Sunday. For more information, go to napolionthebay.com

  

CREIGHTON CONSTRUCTION & DEVELOPMENT COMPLETES 7-ELEVEN IN FORT MYERS

Creighton Construction & Development has completed the construction of a 7-Eleven convenience store with fuel in Fort Myers that is home to Southwest Florida’s first Laredo Taco Co. The new 7-Eleven is located at 5951 Enterprise Pkwy., positioned at the northeast corner of Luckett Road and Enterprise Parkway along I-75. Creighton completed the ground-up construction of a 4,650-square-foot convenience store with 16 fueling positions under a covered canopy structure and three high-speed diesel positions that allow commercial drivers to refuel in less time. Laredo Taco Co. is an authentic Mexican quick-service restaurant. Its menu features tacos, street tacos and breakfast tacos made with hand-rolled tortillas, as well as plates, bowls and family meals made fresh to order. Creighton’s team for this project was led by development manager Lauren Evans and project manager Dane Edwards. Great Dane Petroleum Contractors was the petroleum contractor, Lamar Johnson Collaborative was the architect and Quattrone & Associates was the civil engineer for the project.

 

STARBUCKS PERMANENTLY SHUTTERS LONGTIME LOCATION IN DOWNTOWN NAPLES

Sunday was the last day for the longtime Starbucks coffee shop on the corner of U.S. 41 and Central Avenue in downtown Naples. The location at 1 Tamiami Trail S. had operated for nearly 20 years as an anchor in that corner retail strip. No plans are pending for a new Starbucks location nearby, but regionally-based Narrative Coffee Roasters, which launched its first brick-and-mortar location last year at Mercato in North Naples, has a second planned to open soon at Eleven Eleven Central, within walking distance of the recently closed Starbucks in Naples. Last year, the Seattle-based Starbucks, which operates more than 15,000 locations in the United States, announced it was closing hundreds of underperforming or less profitable locations this year. The ubiquitous chain began shifting to more drive-thru locations even before the pandemic but is accelerating this movement because of a noticeable trend for more contactless convenience.

 

DUNKIN’ LAUNCHES DOUGHNUT/COFFEE SHOP IN GOLDEN GATE ESTATES

Dunkin’ launched its newest coffee and doughnut shop with a drive-thru window Saturday in the Neighborhood Shoppes at Orangetree, the Publix-anchored retail center at Immokalee Road and Randall Boulevard. A neighboring dental office is still being built out in the new freestanding 5,423-square-foot outparcel at the northern end of the center. The Heartland Dental office will be the only other tenant in that building. The new Dunkin’, 13600 Immokalee Road, is open from 5 a.m. to 8 p.m. Monday through Saturday and 6 a.m. to 8 p.m. Sunday. For more information go to dunkindonuts.com.

 

DEEP LAGOON SEAFOOD RELOCATING TO FORMER RUBY TUESDAY’S IN NORTH NAPLES

Deep Lagoon Seafood & Oyster House is relocating in North Naples to the outparcel restaurant space Ruby Tuesday’s formerly occupied for decades in the Marketplace at Pelican Bay. Deep Lagoon will move this spring from the Naples Park location it launched in 2016 to the larger location with more indoor and outdoor dining space, said Grant Phelan, CEO of Phelan Family Brands, the Bonita Springs-based company that operates the Deep Lagoon, Pinchers and Texas Tony’s local restaurant concepts. The Phelans are completely refurbishing the building Ruby Tuesday’s chain vacated three years ago along U.S. 41 North just south of Vanderbilt Beach Road. Deep Lagoon has two other locations in Fort Myers and Marco Island. 

 

TWO INDIAN RESTAURANTS RELOCATING IN BONITA SPRINGS

Two Indian restaurants – Ahana’s Bombay Grille and India Palace – will reopen new restaurants soon off Bonita Beach Road in Bonita Springs. After operating for five years, Ahana’s Bombay Grille closed Jan. 4 in Beach Road Plaza, 3431 Bonita Beach Road SW, for a move about one-half mile east on Bonita Beach Road to Ace Hardware Plaza, 9060 Bonita Beach Road SE. The new Ahana’s shares an outparcel with Tires Plus in the former space of Manny’s Pet Grooming. Meanwhile, India Palace in Fort Myers closed on Dec. 31 in order to relocate 18 miles south on U.S. 41 to The Center of Bonita Springs. The 20-year-old restaurant, which serves northern Indian cuisine, is renovating the space at 3300 Bonita Beach Road, Suite 147, the unit behind Publix that used to be Teri’s Summer Breeze diner many years ago. 

 

NEW RETAIL CENTER COMING TO HAMMOCK PARK

MK Architecture has been awarded a new design project by Hammock Park Apartment LLC and FL Star Construction to complete the architectural and engineering drawings for Hammock Park Retail Center located on Collier Boulevard near Rattlesnake Hammock Road in Naples. The retail center is to be built on an adjoining parcel to the 265-unit Hammock Park Apartments, which was also designed by MK Architecture and is currently in development. The project will consist of a 20,000-square-foot multi-tenant retail center with 5,000 square feet of restaurant space, including outdoor dining. Currently in the schematic design phase, the project is anticipated to be submitted for permitting in the second quarter of 2021.

 

I-75 at Colonial Boulevard Diverging Diamond Interchange Project

EHC KICKS OFF 2021 WITH NEW PROJECTS

EHC, a construction company that provides pre-construction, earthwork and infrastructure services, started the I-75 at Colonial Boulevard Diverging Diamond Interchange Project (DDI) in Fort Myers and the Heritage Bay Government Center Project in Naples in 2021, plus two new projects in the fourth quarter of 2020. The DDI project improvements involve the reconfiguration of the I-75 at Colonial Boulevard Interchange to a Diverging Diamond Interchange. Additionally, EHC is working with Kauffman Lynn for Collier County on phase one of the Heritage Bay Government Center located in North Naples. The first phase of the project focuses on the development and construction of an approximately 20,000-square-foot Collier County Government Services Center (GSC). The two projects EHC started in the fourth quarter of 2020 involve Manasota Key Sidewalk, Lighting & Landscaping in Englewood for the Charlotte County Government and St. Paul Catholic Church in Arcadia. For more information, visit EHCconstruction.com.

 

LEASES

 

SJC Boxing Club Inc. leased 4,900 square feet of retail space for a lease term of five years at 4220 Cleveland Ave., Fort Myers, from Miracle Plaza FM LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and tenant in negotiating the transaction.

 

Greybird Old Naples LLC, dba Honor Yoga leased 2,554 square feet of retail space from WSR 1075 LLC located at 1111 Central Ave., Unit No. 3, Naples. Doug Olson of Trinity Commercial Group represented the tenant and Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the landlord.

 

Pro Custom Solar LLC leased 1,978 square feet of office space for a lease term of 61 months at 5272 Summerlin Commons Way, No. 601, Fort Myers, from Gulf Stream East LLC. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the tenant in negotiating the transaction. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord in negotiating the transaction.

 

McCarthy Home Service LLC leased 1,601 square feet of industrial/flex space for a lease term of 36 months at 17102 Alico Center Road, No. 4, Fort Myers from Cavalico LLC. Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and tenant in negotiating the transaction.

 

Cottrell Title Group LLC leased 1,544 square feet of retail space from Immokalee Road Associates LLC located at 2236 Logan Blvd., Suite 3-02, Naples. Rob Carroll, CCIM, MAI of Investment Properties Corp. negotiated this transaction.

 

SWFL Subs LLC dba Jersey Mike’s Subs leased 1,500 square feet of retail space from Estero Covenant Group LLC located at 19521 Highland Oaks Drive, Suite 302, Estero. Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the landlord and David Oremland of Southwest Retail Group represented the tenant.

 

Joshua and Loretta Crank leased 1,440 square feet of retail space for a lease term of 66 months at 16681 McGregor Blvd., No. 108, Fort Myers, from Kingston Square LLC. John Albion of Cushman & Wakefield | Commercial Property Southwest Florida represented the tenant in negotiating the transaction.

 

ON THE MOVE

 

Lee BIA Builders Care, the nonprofit charitable arm of the Lee Building Industry Association (BIA), has announced its 2021 board of directors, led by president P.J. Anzalone, vice president Justin Thibaut, secretary Annette Nilles, treasurer Steve Krystyniak and immediate past president Dan Beiter. Other members selected for the 2021 board include Paul Beattie, Wendi Carroll, Phillip Ford, Michael Reitmann, Nathan Ritter, Ken Solmonson, Trevor Taulman, Charles Thornton and Jeff Underwood. Gregg Truxton will serve as legal counsel to the board. The board of directors assists Lee BIA Builders Care Executive Director Crystal Stouten in carrying out the organization’s mission of providing emergency construction services at no cost to needy and deserving elderly and/or disabled homeowners, and their families, who cannot obtain repairs through traditional means.

 

 

Kristina Johnson

J.R. Evans Engineering has promoted director of land Kristina Johnson to vice president of land development engineering. In her new role, Johnson will manage teams as they create plans for land development projects throughout Florida. Johnson joined the civil engineering firm five years ago. Johnson holds a Bachelor of Science in civil engineering from Michigan State University, where she sat on the student-run board of Engineers Without Borders. She holds her Professional Engineer certificate in the state of Florida and is an Accredited Professional of the U.S. Green Building Council Leadership in Energy and Environmental Design. Johnson is co-chair of the Women’s Leadership Initiative of the Urban Land Institute and in organizations like the North Naples Community Emergency Response Team.

 

KUDOS

 

John R. Wood Properties has reported 2020 written sales volume of $3.65 billion, an increase of $1 billion over the company’s 2019 written contract volume. The firm specializes in southwest Florida, conducting business only in Collier and Lee counties. With 2,467 closed listings and 2,863 new listings in 2020, the company sold more listings and represented more sellers in Southwest Florida than any other firm, according to Phil Wood, president of John R. Wood Properties. Demand was particularly strong in areas with larger single-family lot sizes, such as Port Royal, the Moorings, Quail West, and Golden Gate Estates. Larger homes with more rooms and those with greater outdoor spaces were also highly coveted during the past year, John R. Wood Properties reports. The company has more than 600 real estate agents in 19 offices.

 

Renée Gaddis

Renée Gaddis Interiors, a full-service residential interior design firm, recently completed and donated a fully furnished and decorated suite and bathroom for Ronald McDonald House Charities of Southwest Florida at 16100 Roserush Court in South Fort Myers. Inspired by a sense of cheerfulness, Gaddis designed a space that instantly creates feelings of happiness, optimism and hope for a family needing a place to stay while their sick child is cared for next door at Golisano Children’s Hospital of Southwest Florida. The finished room and bathroom donation is estimated at $50,000. Serving families who must travel far from home, Ronald McDonald House Charities of Southwest Florida  provides support and resources for families with sick children just steps from the hospital. Since 1996, thousands of families have stayed at the Ronald McDonald House in Fort Myers. For more information, visit rmhcswfl.org/house/.

 

 

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