This Week in Real Estate: July 28

Lead Rendering: Seagate is conducting the final site work for NeoGenomics HQ. Details below.

 

RESIDENTIAL

 

REPORT: HOUSING FRENZY FADES AS INVENTORY DIPS GOING INTO SUMMER

With less than a one-month supply of inventory available, the Naples area housing market experienced a 14.5% decrease in overall pending sales in June to 1,256 pending sales from 1,469 pending sales in June 2020, according to the June 2021 Market Report released by the Naples Area Board of REALTORS (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). Low inventory levels in June also contributed to a 7% decrease in showings for the month. This simmering of activity has broker analysts who reviewed market report certain that the housing market frenzy that began about a year ago – peaking in March – is now decelerating and being replaced with a new level of activity that reflects improved market equity for sellers and sustained buyer interest from people seeking permanent residency, NABOR states. View the entire report here.

 

AVE MARIA CONTINUES RECORD-BREAKING PACE WITH 400 NEW HOME SALES  

The master-planned community of Ave Maria, a development of Barron Collier Companies in Collier County, has surpassed a record 400 new home sales for 2021. New home buyers are attracted to the improved quality of life, strong sense of community, conveniences of the town, educational options, abundant amenities, recreational activities and better home values. Home sales were reported from Ave Maria’s four residential builders: CC Homes, Del Webb Naples, Lennar and Pulte Homes. Homes are available in a variety of styles from single-family homes to condominiums priced from the low $200,000s to more than $500,000. A recent report by RCLCO real estate consulting firm shows Ave Maria experienced one of the highest year-over-year growth rates in new home sales of all top master-planned communities in the nation.

 

NEW STOCK CUSTOM HOMES ESTATE IN DEVELOPMENT IN WILDBLUE

Stock Custom Homes, the luxury homebuilding division of Stock Development, is developing another residence in WildBlue in Estero. Based on the Sophia III floor plan, the new estate will encompass a coastal design and offer four bedrooms and four bathrooms, plus a pool bath. Most of the main living area will open to the covered outdoor lanai, complete with three living areas, outdoor dining and a summer kitchen. In collaboration with Daniel Killgore of Soco Interiors, the home’s design will feature a fresh palette of sandy neutrals, soft whites, and driftwood greys, complemented with accents of soothing sea-glass blue. The homebuilder is also constructing two additional estates on lakefront homesites based on the Alexandra and Winfield floorplans.

 

COMMERCIAL

 

NAPLES INDUSTRIAL BUILDING BOUGHT FOR $2.55 MILLION

4241 Corporate Square, LLC purchased a 10,296-square-foot industrial building at 4241 Corporate Square, Naples, from Lemac LLC for $2.55 million. Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants negotiated the transaction.

 

CAPE CORAL RETAIL BUILDING SELLS FOR $1.96 MILLION

Cape Central LLC purchased the 30,000-square-foot retail building at 4820 Leonard St. in Cape Coral from IAVF Cape Coral HQ LLC for $1.9 million. Mike Doyle, CCIM, with LandQwest Commercial represented the seller in the transaction. Lorie Morgen of Pacific Group International represented the buyer.

 

FORT MYERS OFFICE BUILDING ACQUIRED FOR $1.455 MILLION

Harbor Properties Inc. purchased an 18,185-square-foot office building as an investment property, Taylor Executive Center at 6719 Winkler Road, Fort Myers, from Taylor Executive Court Assoc., LLP for $1.455 million. Enn Luthringer, CCIM, of CRE Consultants represented the seller and Ken & Viki Mikusek of All Cape Realty represented the buyer in negotiating the transaction.

 

NAPLES OFFICE BUILDING BOUGHT FOR $977,500

Cottrell Tax and Accounting LLC purchased the 3,120-square-foot office building at 5633 Naples Blvd., Unit 3A and 3B, in Naples from Zelhan and Hanlon for $977,500. Eric Edwards and Laura Cari with LandQwest Commercial represented the seller in the transaction. Clint Sherwood of Investment Properties Corp represented the buyer.

 

FORT MYERS OFFICE/RETAIL BUILDING SELLS FOR $645,000

Cypress Lake Drive Partners LLC purchased an approximately 4,350-square-foot office/retail building located at 9541 Cypress Lake Drive, Fort Myers, from Saramax Development LLC for $645,000. Matt Stepan, CCIM, and Jeffrey Clapper of Premier Commercial Inc., represented the buyer and Astrid Hartleb of Affinity Realty Group LLC represented the seller.

 

BONITA SPRINGS STORAGE SPACE PURCHASED FOR $588,000

Patrick Quinn purchased a 1,720-square-foot storage space in the Bonita Automotive Condominiums at 27906 Bonita Breeze Way, Suites 203 and 204, Bonita Springs, from Bonita Breeze Development LLC for $588,000. Bill Young, Biagio Bernardo and Michael Mahan of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

PORT CHARLOTTE LAND ACQUIRED FOR $525,000

North Port Salon Suites LLC purchased 1.42 acres at 19669 Cochran Blvd. in Port Charlotte from Big Umbrella Real Estate LLC for $525,000. Tom Strauss and Jessica McEvoy with LandQwest Commercial represented the seller. Terry Purdy of Merritt Realty represented the buyer.

 

NAPLES OFFICE CONDO SELLS BOUGHT FOR $300,000

Alliance Management LLC sold an approximately 1,500-square-foot freestanding office condo located at 3806 Exchange Ave., Unit 200, Naples, to Exchange AAA LLC for $300,000. Matt Stepan, CCIM, and Jeffrey Clapper of Premier Commercial Inc., negotiated the transaction.

 

FORT MYERS LOT SELLS FOR $285,000

Palmetto Capital Group purchased a 0.79-acre lot at 4437 Palm Beach Blvd. and 430-434 New York Drive, Fort Myers, from Karim & Ximena Kafei for $285,000. Fred Kermani, CCIM, AIA, of CRE Consultants represented the seller, and Justin Wilson of Oak Realty Advisors represented the buyer in negotiating the transaction.

  

Video courtesy of WINK News

CAPE CORAL BREAKS GROUND ON OPERATIONS BUILDING AT WASTEWATER PLANT 

After the 27-year-old operations building at Cape Coral’s Southwest Water Reclamation Facility was deemed uninhabitable, the city of Cape Coral is beginning construction on its replacement. Council members and city staff broke ground Thursday on the new operations building, which will be able to withstand a Category 4 hurricane. The new facility will treat up to 15 million gallons of wastewater per day, help provide uninterrupted service and protect the city from potential contamination in the case of a major disaster, said Utilities Director Jeff Pearson. The new building costs about $15.6 million and is expected to be completed in 2023, WINK News reports.

 

The Landmark Building at 300 Fifth Ave. S.

ANTARAMIAN NAME MAKES RETURN TO NAPLES’ FIFTH AVENUE SOUTH 

During the 1990s, Antaramian Development Group made a name for itself by developing a series of high-profile buildings along Naples’ Fifth Avenue South, transforming the city’s main street into a world-class shopping and dining district. Decades later, the Antaramian name is making a return to Fifth Avenue South. ADG4, a firm founded by four real estate and development professionals with ties to the original Antaramian Development Group, has assumed management over a large portfolio of buildings, totaling nearly 60,000 square feet in the downtown area. The collection of buildings was assembled over the years by the Meftah family and includes the Landmark Building at 300 Fifth Ave. S., Belair Building at 340 Fifth Ave. S., Commerce Building at 350 Fifth Ave. S.; and Terrazza Building at 494 Fifth Ave. S. The portfolio also includes the Anchor Building at Eight Street and 12th Avenue South. “Most of these buildings are highly leased and generally full. In our role as the management firm, ADG4 will be responsible for property management, leasing and asset management,” says Peter Carroll, property services director for ADG4.

 

BONITA SPRINGS CONSIDERS BARRON COLLIER COS. PROPOSAL FOR DOWNTOWN DEVELOPMENT 

A 5-acre property owned by the city of Bonita Springs for nearly two decades is closer to being developed. Bonita Springs City Council voted Wednesday on a rank of companies that council members will consider negotiating with to develop Imperial Crossing, or Bamboo Village, along the Imperial River on Old 41 Road near Everglades Wonder Gardens in the downtown area. The top-ranked Barron Collier Companies is proposing a waterfront development with a market area and a park, as well as commercial and residential space. 

 

STUDIO+ COMPLETES DESIGN OF BABCOCK RANCH HIGH SCHOOL

Studio+ and DAG Architects has completed the design for Babcock Ranch’s first high school and 40,000-square-foot multi-purpose field house, serving both as an emergency shelter and recreation center. Both facilities are being designed and built concurrently and should be ready for the 2022-23 school year. Consisting of approximately 43,000 square feet, Babcock High School is designed to reflect the project-based learning and STEAM (science, technology, engineering, and mathematics) education offered to the community. BHS will include 26 classrooms, science labs with gas and electric connections, multiple assembly areas, woodworking areas, media rooms and administrative offices. The shelter and high school are part of a much larger development including the addition of multi-purpose fields, a baseball diamond and a softball field to Jack Peeples Park.

 

SEAGATE CONDUCTING FINAL SITE WORK FOR NEOGENOMICS HQ 

Seagate Development Group is completing site work and interior finishes for NeoGenomics’ 150,000-square-foot, $60 million global headquarters. It is slated for a third-quarter turnover at 9490 NeoGenomics Way in Fort Myers. The facility will ultimately hold hundreds of employees. It encompasses two buildings: one 75,000-square-foot, three-story space for corporate offices and another 75,000-square-foot, full-service cancer diagnostic lab that includes a molecular laboratory for on-site physicians and technicians. Seagate is the owner, developer, construction manager and site contractor for NeoGenomics’ global headquarters. DeAngelis Diamond is the general contractor.

 

FLOOR & DECOR PLANS NEW WAREHOUSE STORE IN NORTH NAPLES 

Floor & Decor, a hard-surface flooring warehouse retail chain, plans a store on the corner of Pine Ridge Road and Naples Boulevard in North Naples. The 78,205-square-foot space most recently was home to NCH Healthcare System’s central campus offices and White Elephant resale store in a 107,000-square-foot building built in the 1990s for Pace Membership Warehouse. In late April, Agree Limited Partnership purchased the building at 2157 Pine Ridge Road from NCH for $18 million. Additional retail opportunities also are available on that 11.78-acre property. NCH moved its offices there to the former Naples Daily News building that it purchased in December in North Naples. NCH is still seeking a new location for its White Elephant store. 

 

LEASES

 

Costco Wholesale Corp. leased a 17,325-square-foot office space at 10898 Metro Pkwy., Unit B, Fort Myers, from Ebenhoeh US Real Estate Holdings LP. Enn Luthringer, CCIM, of CRE Consultants represented the lessor in negotiating the transaction.

 

Ametek leased 14,275 square feet of office space in the Kraft Center at 3510 Kraft Road in Naples from Kraft Office Center LLC. Adam Palmer, CCIM, SIOR, with LandQwest Commercial represented the landlord in the transaction. Scott Miller and Jeff Gage of CBRE represented the tenant.

 

Rexel USA Inc. leased a 10,000-square-foot space at 3060 Warehouse Road, Fort Myers, from Metro Center TWA LLC. James Walls of Lee & Associates | Naples-Ft. Myers represented the tenant, and Matt Price of Seagate Development Group represented the landlord in the transaction.

 

Global Alliance Distributors Inc. leased a 5,000-square-foot building at 2164 Andrea Lane, Fort Myers, from WL Properties. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, Jerry Messonnier, SIOR, and Meaghan Schmitt of Lee & Associates | Naples-Ft. Myers represented the landlord and Robert Mueller of Keller Williams Realty represented the tenant in the transaction.

 

J.KRu Therapy leased 4,431 square feet of office space in The Alico Business Center at 9961 Interstate Commerce Drive in Fort Myers from Friendly Village LLC. Eric Edwards, Tom Strauss and Jessica McEvoy with LandQwest Commercial represented the landlord in the transaction. Charles Jens and Victor Harris of Trans-Commercial represented the tenant.

 

Design West, LLC leased a 3,678-square-foot industrial space at 1998 Trade Center Way, Unit 4, Naples, from Toll Plaza, LLC. Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants negotiated the transaction.

 

Famis Inc. leased 3,600 square feet of commercial space from Enter 111, LLC located at 4344 Enterprise Ave., Fort Myers. Christine McManus, CCIM, SIOR, of Investment Properties Corp. negotiated this transaction.

 

Panda Printing leased 3,200 square feet of industrial space in Crystal Drive Park at 2351 Crystal Drive in Fort Myers from Crystal Drive LLC. Mike Doyle, CCIM, and Rokki Rogan, CDPE with LandQwest Commercial, represented the landlord in the transaction. Steve Hovland of Hovland Real Estate represented the tenant.

 

Brink Results LLC leased a 3,200-square-foot space in the Daniels Metro – Park of Commerce at 6320 Techster Blvd., Unit 2, Fort Myers, from Excalibur Investment Group LLC. Rodney Fidler, CCIM, of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

Millennium Physician Group leased a 3,090-square-foot office at 13774 Plantation Road in Fort Myers from CAM Plantation LLC. Adam Palmer, CCIM, SIOR, and Steve Wood of LandQwest Commercial represented the tenant in the transaction.

 

J.KRu Therapy leased another 3,030 square feet of office space in The Alico Business Center at 9961 Interstate Commerce Drive in Fort Myers from Friendly Village LLC. Eric Edwards, Tom Strauss and Jessica McEvoy with LandQwest Commercial represented the landlord in the transaction. Charles Jens and Victor Harris of Trans Commercial represented the tenant.

 

Friends of Foster Children Forever Inc. leased a 3,000-square-foot office space in Collier Park of Commerce at 3050 Horseshoe Drive S., Unit 260, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants negotiated the transaction.

 

O’Connell Behavioral Services LLC leased 2,905 square feet of office space from Ave Maria LLC at 5450 Useppa Drive, Suites 2 and 3, Ave Maria. Patrick Fraley, CCIM, of Investment Properties Corp. represented the tenant.

 

Alico Health Clinic leased 2,761 square feet of office space in The Alico Business Center at 9961 Interstate Commerce Drive in Fort Myers from Friendly Village LLC. Eric Edwards, Tom Strauss and Jessica McEvoy with LandQwest Commercial represented the landlord in the transaction. Erik Schwetje of Mohr Partners represented the tenant.

  

CC Biz Park LLC leased an approximately 2,714-square-foot space located at 4409 SE 16th Place, Suites 6 and 7, Cape Coral, to AA Surface Pro Inc. Matt Stepan, CCIM, and Jeffrey Clapper of Premier Commercial Inc. negotiated the transaction.

 

CCI-Downtown Naples LLC dba Tide Cleaners leased 2,561 square feet of retail space from Courtney Enterprises Inc. at 36 Ninth Street S., Unit 1, Naples. Rob Carroll, CCIM, MAI, and David J. Stevens, CCIM, of Investment Properties Corp. negotiated this transaction.

 

ATG TLM LLC leased a 2,500-square-foot space in the North Collier Industrial Center at 1040 Collier Center Way, Suite 1, Naples, from Forefront Collier Venture LLC. Brock Rasmussen and James Walls of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

Premiere Title Services LLC leased a 2,272-square-foot office space at 1326 Cape Coral Pkwy. E., Suite 2, Cape Coral, from Doc Edge of Cap Coral LLC. Randal Mercer of CRE Consultants negotiated the transaction.

 

The Bounce House People leased a 2,105-square-foot industrial space at 13850 Treeline Ave., Unit 7, Fort Myers, from 13850 Treeline LLC. Randal Mercer of CRE Consultants negotiated the transaction.

 

EVENTS

 

CHARLOTTE DESOTO BUILDING INDUSTRY ASSOCIATION JOB FAIR THURSDAY

The Charlotte Desoto Building Industry Association (CBDIA) Reverse Job Fair will take place at 3 p.m. Thursday at the CDBIA Office 17984 Toledo Blade Blvd., Port Charlotte. Job seekers will be able to take a seat and listen to companies share information about their business, benefits, openings and advancement opportunities. Job opportunities available will be office positions, laborer and management. Participants are encouraged to bring copies of their resumes. CDBIA can make copies for those without access to a printer. CDBIA Next-Gen leaders will offer tips such as providing interview skills, questions to ask during an interview, what not to do at an interview, how to communicate with the other generations and beyond the interview. Refreshments will be available. Reservations can be made online

 

 REIS LUNCHEON HELD AUG. 10 IN FORT MYERS

The latest trends in property values in Southwest Florida will be explained by Lee County Property Appraiser Matt Caldwell at the Real Estate Investment Society (REIS) luncheon held at 11:45 a.m. Aug.10 in the Osprey Room at Pelican Preserve’s Clubhouse in Fort Myers. Caldwell is also expected to report on advances in information technology for online mapping and property reports and how real estate professionals can access and use the information. Following the presentation, Caldwell will respond to questions from the attending real estate development and investment professionals. The meeting is sponsored by RWA. Admission is $30 for members and $40 for guests, which includes lunch. Reservations are required by Aug. 5 and may be made online

 

REAL ESTATE SYMPOSIUM TO ADDRESS WATER ISSUES SEPT. 8

Water quality issues and effects on growth in Southwest Florida will be the focus of the 2021 Real Estate Investment Society Real Estate Symposium, held Sept. 8 at Florida Gulf Coast University. The event is presented by REIS and Lutgert College of Business at FGCU. Water experts, civic leaders and professionals in design and development will address water-quality challenges and solutions, impacts on growth, design and development considerations, and solutions and community initiatives. Registration for the half-day program is now open on the REIS website.

 

CBIA HOSTING 2021 BUILDING INDUSTRY PANEL 

The Sales & Marketing Council of Collier Building Industry Association (CBIA) will present “Deconstructing the Construction Industry,” its annual building and real estate industry panel, on Oct. 20 at the Hilton Naples, 5111 Tamiami Trail N. Led by moderator Ryan Benson, principal of A. Vernon Allen Builder, panelists include industry experts Nick Casalanguida, senior vice president of development for Barron Collier Companies; Thomas J. Jones, AIA, principal/director of design for JMDG Architecture | Planning + Interiors; John M. Gleeson, senior vice president of development services for Premier Sotheby’s International Realty; Claudine Leger-Wetzel, president of sales and marketing for Stock Development; and Rich McCormick, Southwest Florida Division president for Pulte Group. The 2021 panel is sponsored by B-Squared Advertising. Doors open at 5:30 p.m. for networking and heavy hors d’oeuvres, and the panel presentation will take place from 6:15 to 7:30 p.m. Cost is $30 for SMC members, $35 for CBIA and NABOR members, and $50 for non-members. To RSVP, call 239-436-6100 or email Nancy@cbia.net by Oct. 8. To register online click here.

 

Michelle Bolio, Gaby Saad, Logan Witt and Chris Bolio

ALAIR SOUTHWEST FLORIDA HOSTED BUILDER CONFERENCE IN NAPLES

More than 85 industry experts, builders, project managers and market partners attended the 2021 Alair Florida Regional Builder Conference, hosted by Alair Southwest Florida regional partner Glen Harris III, on June 24-25 at the Hyatt House Naples/5th Avenue in Naples. The Alair brand includes more than 115 luxury custom home builders across the U.S. and Canada. Harris’ Alair Southwest Florida region includes four offices: Alair Bonita Springs, Alair Old Naples, Alair Sanibel, and Alair South Tampa. The conference allowed Alair’s market partners to connect with builders from around the country.

 

ON THE MOVE

 

LSI Companies Inc. has welcomed Erica Brace as its marketing manager. Brace will be responsible for the planning, development and implementation of all internal and external marketing strategies, communications and public relations activities. She will also oversee the planning and execution of Market Trends, one of the largest annual real estate conferences in Southwest Florida, LSI Companies states. Erica has more than 10 years of experience in marketing and communications and has a degree in business administration from Franklin University.

 

JMDG Architecture in Naples has hired Scott Irwin, Jason Charalambides, Dayyan Surty, Monica Pedretti, Steve Turner and Antonio Kaparis within the last two months to expand both its residential and commercial design studios. Irwin has 25 years of experience and will serve as a project manager in the residential studio. Charalambides has 30 years of experience and will serve as a senior project architect and structural engineer. Surty has a Master of Architecture degree from Virginia Tech and will serve as a design assistant to the principal and director of design, Thomas Jones, in the commercial studio. Pedretti, a licensed architect from Italy with 30 years of professional experience, will serve as a senior project manager for residential and commercial studios. Turner has 30 years of local experience and will serve as a design assistant to the principal and director of design, Robert Mongillo, in the residential studio. Kaparis has an engineering degree and Master of Architecture degree with 10 years of professional experience and will serve as a project manager in the commercial studio. 

 

KUDOS

 

The Charlotte DeSoto Building Industry Association (CDBIA) has awarded 10 students with construction scholarships, totaling more than $10,000. The CDBIA Construction Scholarships were awarded to Aidan Kelley and Ethan Morton; Tools of the Trade Scholarships went to Damien Brown, Martin Luther, Dekwann Martin and Virgil Luther; the Professional Women in Building Scholarship went to Jazzlyn Embury and Laticia Nina; and the Gene Extejt Construction Scholarships went to Roland Lytle and Marshal Francis. Since 2007, the CDBIA has awarded more than $65,000 in scholarship funds to students interested in a career in the construction industry.

 

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