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This Week in Real Estate: March 11-17

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Lead Photo: Monaco model from Seagate Development. Details below.

 

RESIDENTIAL

 

DEMAND OUTPACING SUPPLY FOR REAL ESTATE IN SOUTHWEST FLORIDA

Hallucinogenic best describes a real estate market that feels very trippy because of the fear, flight and herd mentality triggered by the pandemic said LSI Companies founder and CEO Randy Thibault, who recently spoke during the Market Trends of Southwest Florida virtual event. People from major cities are heading in herds to Southwest Florida for sunshine, clean air and dining out, Thibault said, noting that they are snapping up properties in all price points. Lack of a state income tax in Florida and 3% interest rates have helped fuel the fire, he said. “Demand has outpaced supply,” he says. “Literally, you may have to take a number to get a new home.” More than half of the region’s new single-family and multifamily home permits were in Lee County. The more than 18,000 residential building permits issued in 2020 in Southwest Florida has not been seen since the beginning of the Great Recession in 2006, LSI Companies reports. “We know this trip won’t last forever,” Thibault says. 

 

REALTOR ADVISES SELLERS TO TAKE ADVANTAGE OF UNSUSTAINABLE HOUSING MARKET IN SWFL

The housing demand in Southwest Florida is real, yet it’s not sustainable, said Realtor Denny Grimes, speaking recently during the Market Trends of Southwest Florida virtual event. “Take advantage of it now,” Grimes advises, noting that inventory remains low while buyers are fleeing blue states to move to Florida. Grimes, president of Denny Grimes & Team at Keller-Williams Realty Naples, said sellers should have their real estate on the market now because the window is open but won’t be open forever. He cited many reasons for immediate action, including that there’s an inventory shortage, upward pressure on price, a spike in buyer activity and less competition because some sellers are still on the fence. He also said buyers are more serious and cited record-low interest rates as another reason to act now.

 

Genova

SEAGATE BUILDING IN ESPLANADE LAKE CLUB 

Seagate Development Group is offering seven fully customizable and waterfront floor plans in Esplanade Lake Club. Situated on Lake Como, a nearly 700-acre recreational lake, Fort Myers’ new resort-lifestyle community is one minute from Gulf Coast Town Center and a short drive from Southwest Florida International Airport, Florida Gulf Coast University and Fort Myers Beach. Ranging from 3,150 to 4,756 square feet, the one- and two-story floor plans include three- to four-bedrooms plus a study, three-and-a-half to four-and-two-half bathrooms, and a three-car garage. As a preferred builder in Esplanade Lake Club with five, one-mile, lake-view homesites available for $825,000, Seagate has three furnished models – Monaco for $2.39 million, Genova for $3.084 million and Santorini for $2.984 million.

 

COMMERCIAL

 

CAPE CORAL INDUSTRIAL SPACE SELLS FOR $1.85 MILLION

Atlas Exchange 231 LLC purchased a 30,000-square-foot industrial/flex building on 2.12 acres at 820 NE 24th Lane, Cape Coral, from Brookline Development Co. LLC for $1.85 million. Brock Rasmussen of Lee & Associates|Naples-Ft. Myers negotiated the transaction.

 

NAPLES LOT ACQUIRED FOR $1.5 MILLION

North Naples Services LLC purchased a 0.49-acre lot, formerly known as North Naples Car Wash, at 10101 Tamiami Trail N., Naples, from Maffel Holdings LLC for $1.5 million. Bill Young and Biagio Bernardo of Lee & Associates|Naples-Ft. Myers negotiated the transaction.

 

FORT MYERS ACRES SELLS FOR $1.3 MILLION

LNMT Jetport LLC purchased 5.6 acres in the Jetport-Interstate Commerce Park at 13770 Jetport Commerce Pkwy., Fort Myers, from TT of Daniels Inc. for $1.3 million. Brock Rasmussen of Lee & Associates|Naples-Ft. Myers represented the buyer and Dan Miller of Colliers International represented the seller in the transaction.

 

LEHIGH ACRES RETAIL BUILDING BOUGHT FOR $1.13 MILLION

L.B. Anderson Construction Inc. purchased a 5,127-square-foot retail building at 1300 Homestead Road, Lehigh Acres from 1300 Homestead LLC for $1.13 million. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants represented the seller and David Goduti of EFO Financial Group represented the buyer in negotiating the transaction.

 

FORT MYERS BUILDING BOUGHT FOR $1.1 MILLION

12460 Brantley Commons Holdings LLC purchased an 8,087-square-foot building in Brantley Commons at 12460 Brantley Commons Court, Fort Myers, from Malk Holdings LLC, for $1.1 million. Enn Luthringer, CCIM of CRE Consultants represented the seller and Larisse Matthews of Realty Group of SWFL represented the buyer in negotiating the transaction.

 

NAPLES INDUSTRIAL SPACE SELLS FOR $320,000

Thomas & Cindy Heckard purchased a 900-square-foot industrial/flex condominium in the Linwood Village Condominiums at 2383 Linwood Ave., Suite 306, Naples, from Jimmyelou LLC for $320,000. Brock Rasmussen of Lee & Associates|Naples-Ft. Myers negotiated the transaction.

 

BONITA SPRINGS LOT PURCHASED FOR $252,500

Jeffrey Miller purchased an 0.5-acre commercial lot located within Vanderbilt Office Park at 3900 Via Del Rey, Bonita Springs, from QJR Properties Estero LLC for $252,500. Matt Stepan, CCIM and Jeffrey Clapper of Premier Commercial Inc., represented the buyer and Dan Barrile of KW Commercial represented the seller.

 

BONITA SPRINGS COMMERCIAL SPACE SELLS FOR $225,000

RONIM QGMA SUB-I LLC sold an 0.5-acre commercial lot located within Vanderbilt Office Park at 3841 Via Del Rey, Bonita Springs, to Jeffrey Miller for $225,000. Matt Stepan, CCIM and Jeffrey Clapper of Premier Commercial Inc., negotiated the transaction.

 

LEE COMMISSIONERS VOTE TO PURSUE CONSERVATION 20/20 LAND PURCHASES

 Lee County commissioners on Tuesday voted to pursue the acquisition of two parcels through the Conservation 20/20 program that are near publicly held land. The parcels are about a quarter of an acre located inside the Caloosahatchee Creeks Preserve in North Fort Myers, east of Interstate 75 and south of Bayshore Road; and about 2.5 acres located within the Corkscrew Regional Ecosystem Watershed, a 60,000-acre area of interconnected environmentally critical land. Both parcels were recommended unanimously by the Conservation 20/20 Land Acquisition and Stewardship Advisory Committee.

 

Mission Hills Shopping Center in Naples

NEW OWNERS ACQUIRE MISSION HILLS SHOPPING CENTER IN NAPLES AREA

Slate Grocery REIT  has acquired Mission Hills Shopping Center on the northwest corner of Collier Boulevard and Vanderbilt Beach Road in North Naples. The sale was announced March 9 by JLL Capital Markets, the firm that represented seller Phillips Edison & Company Inc. in brokering the deal. The 85,078-square-foot neighborhood center, anchored by Winn-Dixie, is fully leased. The acquisition is the 12th in Florida, for Slate Grocery REIT, a Toronto-based owner and operator of U.S. grocery-anchored real estate. Completed in 2005, Mission Hills was renovated in 2018 and features a full lineup of 17 service-oriented tenants on 18.8 acres at 7550 Mission Hills Drive. 

 

STUDIO+ SELECTED BY BABCOCK RANCH TO DESIGN CHARLOTTE COUNTY’S FIRST DESIGNATED HURRICANE SHELTER 

Studio+  has been selected to design the new SWFL Regional Emergency Shelter for the Babcock Ranch Community Independent Special District. The firm will partner with DeAngelis Diamond, who will serve as the general contractor and leader of the design-build project. The Studio+/DeAngelis Diamond team has worked with Babcock Ranch in the past, including the design and construction of the K-8 Babcock Neighborhood School, which began serving students in fall 2018. The new, 40,000-square-foot multi-purpose facility will provide year-round benefits to the Babcock Ranch community, along with a safe and convenient location for a shelter. The building will also serve as the cafeteria, theater, and auditorium for the Babcock Neighborhood School campus. The estimated completion date is summer 2022. 

 

CONSTRUCTION OF CAXAMBAS PARK COMMUNITY CENTER BEGINS MONDAY ON MARCO ISLAND

Construction of the new Caxambas Park Community Center will begin Monday, March 22, on Marco Island. The new, two-story, 2,900 square-foot community center will include a large meeting/training room, offices, restrooms and a small break room. The $1,375,401 project also includes reconfiguring the parking layout and updated landscaping. The 4-acre Caxambas Park has ample parking and a boat launch for easy access to the northern Ten Thousand Islands and the Gulf of Mexico. The park features a marina with concessions, including gasoline and diesel fuel, fishing gear, food, beverages and sunscreen. During construction, the adjacent U.S. Coast Guard Auxiliary building, which houses Marco Island Flotilla 95, will remain in operation, as will all marina operations. The majority of parking areas will remain available for park visitors during construction by Fort Construction Group of Naples Inc. The project is expected to be completed by March 2022. 

 

Island Country Club entrance

GATES CONSTRUCTION BEGINS REMODEL, EXPANSION OF ISLAND COUNTRY CLUB WELLNESS CENTER 

GATES Construction has begun the remodel and expansion of the wellness center at Island Country Club. The center will offer a variety of spaces designed for specific fitness requirements, including an exercise room with mirrored wall and ballet barre, a reformer/Pilates room with overhead suspension system, and a cardio/weights area with a window wall that affords expansive golf course views. There will also be two spa treatment rooms, and men’s and women’s restrooms. The wellness center expansion project is being designed by Peacock + Lewis Architects LLC.

 

CGU HOMES COMPLETES NEW HEADQUARTERS

CGU Homes has completed its new office headquarters at 1998 Trade Center Way in Naples. The new headquarters will be home to office spaces for the existing CGU Homes team. It will showcase photography of the company’s completed projects as well as a variety of products in the residential construction industry that the team is currently using. The new space will also accommodate new employees joining the team in 2021.

 

Tribby Arts Center auditorium

HOLE MONTES COMPLETES TRIBBY ARTS CENTER AT SHELL POINT

Hole Montes has completed site planning and utilities work for the newly opened Tribby Arts Center at Shell Point Retirement Community. The two-story, 44,000-square-foot Tribby Arts Center is a performing arts center dedicated to visual and performing arts, as well as educational programming. The building includes a grand entrance and atrium gallery, 400-seat auditorium, art gallery, practice rooms for musicians, gift shop, café, sculpture garden and art studios. Hole Montes provided new utility services for the project. Hole Montes was responsible for an 11.4-acre site plan that included 203 parking spaces for vehicles and golf carts, as well as the building itself. Hole Montes’ lead designers for the Tribby Arts Center were Tyler Bonnough and Byron Taylor. Project partners included Gates Construction as general contractor, Stantec as landscape architect, Christopher J. Lee Architects as building architect and Fiber Solutions to oversee fiberoptics.

 

SEAGATE DEVELOPMENT COMPLETES INTERIOR OF HERITAGE CARPET AND TILE

Seagate Development Group has completed the interior of Heritage Carpet and Tile’s new location in Premier Airport Park, 16240 Airport Park Drive, in Fort Myers. Part of the full-service flooring contractor’s strategic plan is to transition from two facilities to one central location, this project satisfies its short-term goal and accommodates future growth. Seagate entered a preexisting shell of a building in the third quarter of last year and completed the interior one month ahead of schedule. The scope of work for this about 17,000-square-foot headquarters included warehouse and office space for dozens of employees.

  

LEASES

 

Lennox Industries Inc. leased 20,910-square-foot space in Suncoast Commerce Center I at 1850 Ortiz Ave., Suite. 130, Fort Myers, from EastGroup Properties LP. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates|Naples-Ft. Myers represented the landlord and Jeffrey Gage, CCIM, SIOR, MRICS of CBRE Naples represented the tenant in the transaction.

 

Muriel Court LP leased an approximately 6,998-square-foot space located at Crossings Plaza, 28400 Bonita Crossings Blvd., Suite 120, Bonita Springs, to Community Hall for Hire LLC. Matt Stepan, CCIM and Jeffrey Clapper of Premier Commercial Inc. represented the landlord and Michael Maurer of William Raveis- Florida LLC represented the tenant.

 

Ameriprise Holdings Inc. leased a 6,773-square-foot office space in University Park at 12800 University Drive, Suite 150-155, Fort Myers, from Uccello University LLC. Enn Luthringer, CCIM of CRE Consultants represented the lessor and Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the tenant in negotiating the transaction.

 

Coastline Cabinetry & Custom Millwork LLC leased a 6,448-square-foot space at 6440 Metro Plantation Road, Fort Myers, from Fighting Scot Financial LLC. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates|Naples-Ft. Myers represented the landlord and Justin Maxner of Point South Group represented the tenant in the transaction.

 

American Oncology Management Co. LLC leased a 6,275-square-foot office space in Colonial Executive Park at 3860 Colonial Blvd., Suite 101, Fort Myers, from Winfield Partners II. Enn Luthringer, CCIM of CRE Consultants negotiated the transaction.

 

Metro Men’s Health LLC leased a 1,985-square-foot office space in Renaissance Center at 9530 Marketplace Road, Suite 103, Fort Myers, from Brookwood SFL I LLC. Randal Mercer of CRE Consultants represented the lessor and Juan Vega of Colliers represented the lessee in negotiating the transaction.

 

Senior Friendship Center Inc. leased 1,440 square feet of office space at 12734 Kenwood Lane, Nos. 85-87, Fort Myers, from Merit Holdings Corp. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

Allstate Insurance Co. leased a 1,153-square-foot office space at 14421 Metropolis Ave., Suite 105, Fort Myers, from Metropolis SWFL LLC. Randal Mercer of CRE Consultants negotiated the transaction.

 

ON THE MOVE

 

Boston-based Suffolk, which has an office Estero, has unveiled Rebuild the Ratio, a commitment dedicated to increasing visibility and career opportunities for women and girls in the construction and STEM industries, where there is a great disparity between the representation of men and women, the company reports. With the launch of Rebuild the Ratio, Suffolk pledges to increase the percentage of women employed by Suffolk by 10% over 10 years, which will boost the percentage of women employees to near 40%

 

RE/MAX Realty Group announces that Audrey Crittenden, Caroline Reitz, Jean-Pierre Rondon and Joey Stefko have joined its residential division.

 

 

Tiffany Gargiolo

Gulf Coast International Properties (GCIP) welcomes Tiffany Gargiulo, Realtor, to the firm. Gargiulo, a Tallahassee native, resides in Naples where her husband’s family roots extend back four generations in the Port Royal and Naples community. Gargiulo holds a master’s degree from San Jose State University and has practiced speech-language pathology for more than 11 years. She has extensive knowledge of new home construction and remodeling, as her family owned a homebuilding company in Atlanta, Georgia.  

 

 

Nakia Jackson

Gates Construction has added Nakia Jackson as project accountant. Working under the supervision of the firm’s CFO, she will manage all of the financial matters on the projects she is assigned, including accounts payable, accounts receivable, and financial forecasting. Jackson has more than 16 years of diversified accounting experience. She received her Bachelor of Science degree in accounting from Capella University. She will be based out of Gates Construction’s headquarters in Bonita Springs.

 

Alain Filiault

Fort Myers-based Seagate Development Group has hired senior construction professional Alain Filiault as vice president of residential. A leader of the full-service firm’s residential division, Filiault acquires and develops sites, manages projects with respect to time and budget, and builds efficient teams. He is overseeing remodeling projects in Estuary at Grey Oaks, Pelican Bay, Shadow Wood, Miromar Lakes Beach & Golf Club and on Boca Grande, as well as Seagate’s development of homes in Esplanade Lake Club, Hill Tide Estates and the Isola Bella neighborhood in Talis Park. Filiault started his career 28 years ago when he joined Toll Brothers as a senior project manager. Prior to joining Seagate, he managed projects and business development for Houchin Construction.

 

Mike Isabella

Mike Isabella has joined Stevens Construction as estimator. Bringing 25 years of Southwest Florida construction experience, Isabella has a background in all components of the electrical scope, including preconstruction and installation. As estimator, Isabella will manage the overall bid process for projects located in Southwest Florida, including creating scopes, cost proposals and preliminary schedules. Additionally, Isabella will maintain and develop subcontractor relationships and manage the subcontractor prequalification process. 

 

KUDOS

 

RE/MAX Realty Group recognizes its top producers for the month of February. The Top Listings Residential Producer is Lisa Shepard; Top Residential Listings and Producer Team is The Cole Team; Top Sales Residential Producer is Mike McNamara; Top Sales Commercial Listings and Producer is Vedran Vicevic; and Top Commercial Producer Team is Bauman and Associates. RE/MAX Realty Group also congratulates 100% Club Members Mike McNamara and Lisa Shepard for reaching new club levels for February. In addition, RE/MAX Realty Group celebrates the 15-year anniversary of Gidget Jackson.

 

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