This Week in Real Estate: June 3-9

Lead Photo: “Ding” Darling Refuge manages nearly 6,500 acres of land on Sanibel Island alone. Details below.

 

RESIDENTIAL 

 

FORT MYERS RESIDENTIAL PROPERTY SELLS FOR $1.6 MILLION

LSI Companies Inc. brokered an approximately 31.18-acre residential property at 3701 Schoolhouse Road, Fort Myers, for $1.6 million. FL Schoolhouse Investors LLC acquired the property from Colonial Properties and Investments Group Inc. Stan Stouder, CCIM of CRE Consultants represented the seller. Justin Thibaut, CCIM of LSI Companies Inc. represented the buyer.

 

COMMERCIAL

 

AMAZON DEVELOPER SEEFRIED BUYS MORE THAN 45 ACRES OF INDUSTRIAL PROPERTY NEAR FORT MYERS

Atlanta-based Seefried Industrial Properties, which has an extensive build-to-suit project portfolio that includes many last-mile delivery stations and fulfillment centers for Seattle-based Amazon, recently purchased more than 45 acres of industrial property in the Alico Road corridor of the Fort Myers area for a total of more than $15 million. The sale included more than 30 acres purchased from Alico Family Golf Center for $9 million. Another property of nearly 15 acres was purchased for $6.1 million from Wayside Industrial Inc. at the northwest corner of Alico Road and Lee Boulevard. The deals were brokered by Justin Thibaut and Alexis North of LSI Companies Inc.
 

NAPLES OFFICE SPACE SELLS FOR $5.4 MILLION

180 9th Street South LLC purchased 18,051 square feet of office space from Interbeaute LLC, located at 180 Ninth Street S., Naples, for $5.4 million. David J. Stevens, CCIM and Tara L. Stokes of Investment Properties Corp. represented the seller and Garren Grup of John R. Wood Properties represented the buyer.
 

NAPLES COMMERCIAL SPACE SELLS FOR $3.65 MILLION

PPG5R LLC purchased 23,058 square feet of commercial space from FLER Group LLP, located at 1224 Industrial Blvd., Naples, for $3.65 million. William V. Gonnering, CCIM, SIOR and Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the seller and Chad Commers of SVN Kova represented the buyer.

 

NAPLES COMMERCIAL SPACE ACQUIRED FOR $1.1 MILLION

3973 Arnold Avenue LLC purchased 6,000 square feet of commercial space from Thomas Wayne Cochran Revocable Trust, located at 3973 Arnold Ave., Naples, for $1.1 million. William V. Gonnering, CCIM, SIOR and Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the seller and David J. Stevens, CCIM of Investment Properties Corp. represented the buyer.
 

NAPLES OFFICE SPACE PURCHASED FOR $1 MILLION

Tricircle Holdings Inc. bought 4,132 square feet of office space from Vincent Prestige Prop LLC, located at 2805 S. Horseshoe Drive, Units 11 and 12, Naples, for $1 million. Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the seller and Thomas E. Woodyard of Woodyard & Associates LLC represented the buyer.
 

 

Video courtesy of WINK News

CONSTRUCTION BEGINS ON MARGARITAVILLE BEACH RESORT AT FORT MYERS BEACH

After years of delays and setbacks, a major waterside resort project has begun construction. Margaritaville Beach Resort is being built at the base of the Matanzas Pass Bridge on Fort Myers Beach. The goal is to build the 254-room resort with all of its restaurants and entertainment in two years. Town crews are adding underground utility infrastructure now so roads won’t have to be ripped up later. Vertical construction is expected to begin in July, WINK News reports.
 

PUNTA GORDA AIRPORT SEEKS PROPOSALS FOR RESTAURANT SERVICES

The Charlotte County Airport Authority is currently requesting bids for a public full-service restaurant, bar and caterer (known as restaurant services) at the Punta Gorda Airport’s new General Aviation Center (GAC). Proposals are due by 2 p.m. on July 30. While the lease space is approximately 2,500 square feet, the 1,045-square-foot dining area can also be combined with an adjacent 534-square-foot rentable events room to open the entire space for larger events. The events room and restaurant services spaces feature wall-to-wall windows with views of PGD’s runways, aircraft parking and aviation activity. The Authority is building the new 13,000 square-foot GAC as the focal point of the airport’s aviation expansion area, referred to as the PGD AviEx. Construction of the GAC is expected to be substantially completed in March 2022, with restaurant services expected to be operational in the following six months. For more information, click here.

 

DEMOLITION BEGINS ON NAPLES-FORT MYERS GREYHOUND TRACK IN BONITA SPRINGS

Demolition recently began on the Naples-Fort Myers Greyhound Track, which closed May 3, 2020, after operating for more than 60 years in Bonita Springs. Honc Industries started the demolition project with the dog kennels on April 22. Work on the multi-story main grandstand building began May 24. The process of demolishing and removing all debris from the property will take about two to three months, said Alexandra Honc, project manager and commercial estimator. “The demolition of the dog track is a very large and unique project,” she says. The new Bonita Springs Poker Room and The Brass Tap launched last year on the corner of Race Track Road and Bonita Beach Road but specific plans for the remainder of the vacant 100-acre commercial property have not been announced.

 

Our Lady of Mercy Parish Life Center rendering

CONSTRUCTION BEGINS ON OUR LADY OF MERCY PARISH LIFE CENTER

Owen-Ames-Kimball Co. (O-A-K) has begun construction on Our Lady of Mercy Parish Life Center in Boca Grande. The new parish center will be built at 221 West Railroad Ave., just south of the church campus on Park Avenue. The proposed parish center is designed to blend into the existing Our Lady of Mercy style of architecture. The new center will be 3,604 square feet with a vestibule, commercial kitchen and almost 2,000 square feet of open meeting area. A sloped covered walkway will connect the existing church to the new center. The project includes demolishing an existing residence on the property, a crushed granite parking lot, sidewalk and landscaping. The project is expected to be completed by the end of the year. The O-A-K project manager is John Klockner and site superintendent is Larry Walther. Abel Natali, O-A-K vice president, is the chief estimator. The architect is Plunkett Raysich Architects LLP.

 
FREEZE PLAY PLANS TO OPEN SECOND AREA CHIRO AND CRYO LAB

Freeze Play, a local cryo and chiro lab, plans to open this fall in Cameron Commons retail center at 8855 Immokalee Road, just east of Collier Boulevard, in North Naples. “The start date will be dependent on time for permits and construction. Our best estimate for the moment is October,” says Jeff Mason of Freeze Play. The new business is moving into the space being vacated by Edison’s Smart Fitness, which closed May 31 after operating for five seasons in suites 13 and 14. Freeze Play Inc., which recently leased the 3,800-square-foot space from Cameron Partners LLC, operates another location on Highland Oaks Drive in Estero for natural beauty, anti-aging, sports recovery and chronic pain treatments. 
 

MK ARCHITECTURE COMPLETES DESIGN SERVICES FOR RETAIL CENTER

MK Architecture has completed the design services for the 53,125-square-foot Mirror Lakes Retail Center, located at Homestead Road and Milwaukee Boulevard in Lehigh Acres, for Franchi Development and Management of Natick, Massachusetts. The project consists of 15 office or retail lease spaces ranging from 1,582 to 4,683 square feet, done in a contemporary, transitional style. The project is currently leasing.
 

‘DING’ DARLING GROWS BY 36 ACRES

The J.N. “Ding” Darling National Wildlife Refuge on Sanibel Island recently acquired a 36-acre parcel bordered on three sides by existing refuge property and on one side by the Gumbo Limbo neighborhood. Purchasing the parcel through the U.S. Fish & Wildlife Service (FWS) began with previous refuge manager Paul Tritaik. The FWS purchased the land from property owners based in Miami for the appraised value of $50,000. The land is suitable for mangrove cuckoos and other mangrove forest birds, said refuge manager Kevin Godsea. It will require some restoration, but there are no immediate plans to begin that project as the refuge team is currently working on restoring its 68-acre Lee Anne Tauck Conservation Tract on the refuge’s north side. A combined effort between the “Ding” Darling Wildlife Society-Friends of the Refuge, Lee County Conservation 20/20, and the refuge made that acquisition possible in 2019.

 

LEASES

Serenity Title Group LLC leased 1,530 square feet of office space from Tamiami Negate Ltd., located at 5150 Tamiami Trail N., Suite No. 502, Naples. Tara Stokes of Investment Properties Corp. negotiated this transaction.

 

EVENTS

 

REGISTRATION OPEN FOR SEPT. 9 MARKET TRENDS REAL ESTATE SUMMIT

Market Trends of Southwest Florida has opened registration for its real estate summit, held from 4-7 p.m. on Sept. 9 at Caloosa Sound Convention Center & Amphitheater in Fort Myers. Randy Thibaut of LSI Companies Inc. will address land, new home sales and development. Denny Grimes of the Denny Grimes & Team at Keller Williams Realty will address residential real estate. Justin Thibaut of LSI Companies Inc. will address commercial real estate. The event will include in-person and virtual options. General admission event tickets are $50 and include a comprehensive data book. VIP event tickets are $90 and include the market data book and access to a VIP area with free food and complimentary drinks during a networking hour. Additionally, four table options are available for the event. Virtual tickets are free and include access to view the live-streamed event. For more information and to register, click here.

 

REIS REAL ESTATE SYMPOSIUM SET FOR SEPTEMBER

The Real Estate Investment Society (REIS) will present the annual Real Estate Symposium with Lutgert College of Business in September at Florida Gulf Coast University. The event will focus on the relationships between water quality and resiliency with economic growth and development in Southwest Florida. Sponsorships are now available. Contact Molly Scott at (239) 226-0500 for more information.

 

ON THE MOVE

 

KOVA Cos. and Commercial Property Managers have entered into a strategic partnership and established KL Management Solutions LLC, a joint venture that will expand property management and accounting services throughout Southwest Florida. Through the KL Management Solutions partnership, KOVA Cos. provides turnkey back-office property management solutions to a growing portfolio of clients. The new firm will leverage the KOVA platform to provide capacity, capability and experience in property management and financial services. Commercial Property Managers, co-founded by Derek Bornhorst and Jerry Messonnier, principals at Lee & Associates, manages the daily operational oversite of commercial properties across Southwest Florida.

 

KUDOS

Lane Boy

Lane Boy of Cushman & Wakefield | Commercial Property Southwest Florida (CPSWFL) has earned the Certified Commercial Investment Member (CCIM) designation from the CCIM Institute. Boy received the designation in May by the Florida CCIM chapter. CCIM designees have achieved the highest levels of education, technical proficiency and business ethics in the industry, according to CPSWFL. An estimated 6% of industry professionals have earned the CCIM designation. To earn a CCIM, commercial real estate professionals must complete four core courses and several electives, submit a portfolio showcasing a depth of experience and pass a comprehensive exam. A native Floridian, Boy has 20-plus years of experience in real estate-related industries and joined Cushman & Wakefield | Commercial Property Southwest Florida in July 2017. 

 
Wright Construction Group celebrated its 75th-anniversary celebration with a formal event on May 20 at Wright Construction’s main office. Wright Construction Group President Fred Edman’s son, Jeff Edman, a project coordinator, hosted the event. The party began with a mocktail hour where guests watched slideshows of Wright Construction Group’s successful projects over the decades while enjoying hors d’oeuvres. The main reception featured a two-part video that honored the history and legacy of Wright Construction from its inception in 1946 until today. The party ended with a toast by Fred, who thanked his guests for their support for almost a century. Wright Construction Group has completed projects such as the Downtown Riverfront Basin, the Woodlands at Shell Point, Bonita Springs Downtown Redevelopment, and multiple Florida Gulf Coast University and Florida SouthWestern State College buildings.

 

Don’t be the last to know what’s happening with Southwest Florida real estate. Sign up for our free weekly newsletter, This Week in Real Estate, to stay connected.