TRENDING

This Week in Real Estate: March 31

Share on facebook
Share on twitter
Share on linkedin
Lead Photo: Covenant Church

 

RESIDENTIAL

 

REPORT: NAPLES HOME SALES UP IN FEBRUARY

Overall closed sales of existing homes in Naples for February increased 62% to 1,307 closed sales from 807 closed sales in February 2020, according to the February 2021 Market Report, released by the Naples Area Board of Realtors (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). Inventory fell 68.8% in February to 2,224 homes from 7,127 homes in February 2020. The condominium market experienced a 75.7% increase in closed sales and a 66.6% decrease in inventory. In fact, condominium sales in February 2021 eclipsed its comparable sales in any month over the past 15 years. View the entire report here

 

MARCO ISLAND SINGLE-FAMILY HOME SALES UP IN FEBRUARY

Sold single-family homes in Marco Island were up by 41% in February compared to February 2020, from 32 to 45, according to Berkshire Hathaway HomeServices Florida Realty Broker Associate Gerry Rosenblum. Sold condominiums were are up by 73%, from 44 to 76, and sold single-family lots were up by 127%, from 13 to 39. Inventory decreased in February by 72% for single-family homes, 63% for condominiums, and 69% for single-family lots, Rosenblum reports. For more information, click here

 

LONDON BAY HOMES SELL IN MEDITERRA

A pair of London Bay Homes have recently sold in Mediterra, including one that was claimed by a homebuyer before completion. The finishing touches are being added to the just-sold 3,377-square-foot Mallory home in the Cabreo neighborhood, adjacent to Mediterra’s landscaped walking trails. The single-story home offers a great room, dining room, gourmet-ready kitchen, three-car garage, master suite, and three additional bedrooms with ensuite baths. London Bay Homes Selection Studio handpicked designer features and finishes. London Bay Homes’ two-story Wellington estate in Caminetto has also recently sold. Boasting 4,670-square-feet of living space and interiors by Romanza Interior Design Senior Designer Melissa Allen, the home features a great room with a built-in wine bar and glass-door display space, and study. It also includes a first-floor master suite, three ensuite bedrooms, loft media area with a morning kitchen, and more. A selection of additional inventory homes from London Bay Homes are now underway with an expedited building schedule, starting from the high $1 millions.

 

607 Myrtle Road

STOCK CUSTOM HOMES SELLS TWO MULTI-MILLION DOLLAR PINE RIDGE ESTATES PROPERTIES

Stock Custom Homes, the award-winning custom home building division of Stock Development, recently sold residences at 607 Myrtle Road and 125 Caribbean Road in Pine Ridge Estates. The homes were listed for $4.445 million and $4.595 million, respectively. The property at 607 Myrtle Road features four bedrooms plus a bonus room, four and one-half bathrooms and a pool bath, great room, study, double two-car garages, and Stock’s trademark outdoor living area. The transitional-modern design of the home was in collaboration with Richard Guzman, principal residential designer of R.G. Designs Inc. Wilfredo Emanuel of Wilfredo Emanuel Design crafted the interior décor. The home at 125 Caribbean Road was designed in collaboration with Richard Guzman of R.G. Designs and Laurie Walter of Cardamom Design. The property includes four bedrooms plus a bonus room, four full bathrooms, plus a pool bath, and one powder bath, a great room, study, double two-car garages, and Stock’s outdoor living area. Stock has one additional home currently available at 422 West Street in Pine Ridge Estates slated for completion later this year. 

 

ENCLAVE OF DISTINCTION EXPERIENCES GROWTH 

Matthew Fiterman with Distinctive Communities broke ground on the first of 27 custom homes at The Enclave of Distinction in 2020, which is now experiencing substantial growth. “The traffic to our sales office and inquiries on the website from people all over the world is astounding in the past six months and we are more than 40% sold out,” said Fiterman. John R. Wood Properties is a partner in the management and sale of each home in The Enclave of Distinction. The Enclave of Distinction is an exclusive development of custom homes designed by Stofft Cooney Architects LLC and built by Distinctive Residential Construction. Five unique three, four, or five-bedroom floor plans are fully customizable and range from 3,200 to 5,200 square feet. Each one or two-story home will have a three-car garage, private pool with optional spa and lake or private garden views. Homes feature soaring ceilings, luxury solid surface countertops and tile throughout with carpet in the bedrooms. Custom homes start at $1.6 million. Open daily, two models at The Enclave of Distinction, located at 16711 Enclave Circle, Naples, are available for tours.

 

John R. Wood Properties\’ Quail West Realty Division, from left to right, includes Matt Wood, Carmen Grifferty, Tom Grifferty, Kim Basa, and John Burdick.

QUAIL WEST REALTY SIGNS COOPERATIVE AGREEMENT WITH QUAIL WEST FOUNDATION

Phillip Wood, president and chief executive officer of John R. Wood Properties and Tom Grifferty, division head of Quail West Realty, announced that Quail West Realty has signed a cooperative agreement with The Quail West Foundation. The new arrangement combines the efforts of each group to promote the benefits of living in the Southwest Florida-based golf and resort-lifestyle community. “John R. Wood Properties have emerged as the dominant real estate group in Quail West through a dedication to customer service,” said Grifferty. “Since moving to Quail West in 2014, we have helped many clients discover this beautiful, award-winning community.” Founded in 1958, Naples-based John R. Wood Properties is the oldest major real estate brokerage in Southwest Florida. Quail West is a 1,180-acre community with more than 600 residential units. Throughout the past 12 months, sales have reached approximately $190 million.

 

FREY & SON HOMES BEGINS CONSTRUCTION ON CAPE CORAL MODEL HOME CENTER

Frey & Son Homes has begun construction on a brand new model home center, located in Cape Coral. The Cape Coral model home center will consist of two homes, a Palm Beach Two model, located at 2579 Surfside Blvd., and a Key Colony model, located at 2575 Surfside Blvd. The Palm Beach Two home will feature three bedrooms, three bathrooms and 2,696 square feet of air-conditioned living area. The Key Colony home will also feature three bedrooms and three bathrooms with 2,152 square feet. of air-conditioned living space. Both homes are expected to be completed by the end of this year.

 

COMMERCIAL

 

NAPLES COMMERCIAL SPACE SELLS FOR $1.9 MILLION

4360 Corporate Square LLC purchased 11,000 square feet of commercial space for $1.9 million from 369 Industrial Boulevard LLC, located at 4360 Corporate Square, Naples. William V. Gonnering, CCIM, SIOR and Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the seller and Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the buyer.

 

BONITA SPRINGS OFFICE SPACE ACQUIRED FOR $710,000

Kenneth Randall Wigginton purchased 3,495 square feet of office space for $710,000 from CSTE Properties LLC, located at 3521 Bonita Bay Blvd., Bonita Springs. Christine McManus, CCIM, SIOR of Investment Properties Corp. negotiated this transaction.

 

FORT MYERS COMMERCIAL SITE SELLS FOR $159,000

Robert Dullard purchased a 1.18-acre commercial site at 8160 College Pkwy., Fort Myers, from Scorpio Real Estate Investments for $159,000. Enn Luthringer, CCIM of CRE Consultants represented the seller and Chad Capps of James H Hayes Realty represented the buyer in negotiating the transaction.

 


Video courtesy of WINK News
 

COMMUNITY MEMBERS UPSET BY REDEVELOPMENT PLAN CHANGES FOR NAPLES BEACH HOTEL

A historic family-owned resort in Southwest Florida is about to be demolished, and people who live near it are fighting plans to change it. The Athens Group plans to completely redevelop the Naples Beach Hotel & Golf Club. Neighbors fear they’ll lose what they were promised with the new changes. Some have even made signs that say, “Save the 18-hole golf course,” and are calling proposed renovations the “Athens Amusement Park.” Some of the outrage stems from a picture of the reimagined golf course from a sales brochure for the developer’s condos. It shows the 18-hole course downsized to 10 holes with plans to add a sports park complete with pickleball courts and a rock-climbing wall. The developers say they will take the community’s comments into account as they continue to work on the plan, WINK News reports

 

LA SANTA TACOS & TEQUILAS COMING SOON TO NORTH NAPLES 

La Santa Tacos & Tequilas is coming soon to the former space of Fuzzy’s Taco Shop in North Naples. Offering a menu of traditional and modern Mexican cuisine made from scratch and an indoor-outdoor full bar, La Santa is co-owned by Pedro Aguirre, who is launching his second location of the upscale, casual dining concept here. Aguirre opened his first La Santa three years ago in a former Carrabba’s Italian Grill in Tyngsborough, Massachusetts. Although a target opening date has not been announced yet, La Santa is moving into the 4,796-square-foot space where Fuzzy’s closed last March after operating for more than three years in the retail center anchored by SuperTarget at 2405 Tarpon Bay Blvd., off Immokalee Road just east of Interstate 75. 

 

COVENANT CHURCH OF NAPLES EXPANDING ITS CAMPUS 

Covenant Church of Naples is building the third phase of its campus expansion at 6926 Trail Blvd. in North Naples. The new wing to the northern end of the church will be a mirror image of the Fellowship Hall the church added to the southern end of its worship center in 2014. The expansion will serve as a children and students center, which has outgrown the church’s existing space. Another administration building under construction will provide new office space for the local church, which was founded as Covenant Presbyterian in 1965. The expansion project, expected to be completed by the end of the year, is being undertaken by DeAngelis Diamond, David Corban Architects and Noller Design Group. 

 

Lehigh Acres Senior Center exterior

GATES CONSTRUCTION SELECTED FOR LEHIGH ACRES PROJECT

Gates Construction has been selected to provide construction management services for the renovation of the Lehigh Acres Senior Citizen Center. The improvements will include Americans with Disabilities Act (ADA)-compliant restroom upgrades, an ADA special lift to access the multi-purpose room stage, kitchen updates, and replacement of all six rooftop heating, ventilation, and air conditioning units. The center is a nonprofit organization that was established to provide mature adults with opportunities to be engaged, enriched and empowered. Design services are provided by ADG Architecture LLC.

 

LEASES

 

Sylvan Learning Centers leased a 2,500-square-foot office space at 13720 Ben C Pratt Six Mile Cypress Pkwy., Suite 302, Fort Myers, from Madux & Maddux LLC. Enn Luthringer, CCIM of CRE Consultants represented the lessee and Chuck Mayhugh of Mayhugh Commercial Advisors represented the lessor in negotiating the transaction.

 

Tarpon Coast Management LLC leased a 2,000-square-foot office space in Metro Commerce Center at 11270 Metro Pkwy., Suite 20, Fort Myers, from Metro Commerce Center LLC. Randal Mercer of CRE Consultants negotiated the transaction.

 

Express Disposal leased a 1,780-square-foot office space in Metro Commerce Center at 11220 Metro Pkwy., Suite 10, Fort Myers, from Metro Commerce Center LLC. Randal Mercer of CRE Consultants negotiated the transaction.

 

Ideal Image of Florida LLC leased a 1,759-square-foot retail space in Mission Square West at 1485 Pine Ridge Rd., Suite 1, Fort Myers, from KLCRT, LLCBill Young and Biagio Bernardo of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

Knock It Out Luxury Detail LLC leased a 1,536-square-foot industrial space in Intelliflex at 12801 Commerce Lakes Dr., Unit 8, Fort Myers, from Estero Villas LLC. Brock Rasmussen of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

Peak Source 2.0, LLC leased a 1,500-square-foot office space at 15550 McGregor Blvd., Suite 202, Fort Myers, from Fontana Beach Realty LLC. Pamela Pipher of CRE Consultants negotiated the transaction.

 

Clean Juice of Naples I LLC leased 1,500 square feet of retail space from Sutton Place Investors, LLC located at 6270 Naples Blvd., Unit No. 6, Naples. Rob Carroll, CCIM, MAI of Investment Properties Corp. negotiated this transaction.

 

Home Audio & Security Design Inc. leased a 1,440-square-foot industrial space in Commercial Park Square at 7963 Drew Circle, Unit 3, Fort Myers, from Lineka LLC. Brock Rasmussen of Lee & Associates | Naples-Ft. Myers negotiated the transaction. 

 

Tenon LLC leased a 1,013-square-foot office space in Collier Park of Commerce at 3050 Horseshoe Drive N, Suite 101, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

Marco Island Dental Associates PA leased a 1,075-square-foot office in Island Tower at 690 Bald Eagle Dr., Marco Island, from Island Plaza Investments. Bill Young and Biagio Bernardo of Lee & Associates | Naples-Ft. Myers negotiated the transaction.

 

ON THE MOVE

 

Jason Travis

Jason Travis recently joined the LandQwest Commercial brokerage team in Naples as an associate, where he will work on leasing, tenant representation, and commercial dispositions throughout Southwest Florida. As a Florida native with more than 30 years in the Southwest Florida region, Travis has witnessed the area’s transformation into a dynamic economic environment. An owner/operator in his own right, as president of Marco Island’s former Trapper Custom Marine, Travis internalizes operational, financial, and contractual requirements to meet client needs.

 

Michael K. Sheeley

Michael K. Sheeley, AIA, of MK Architecture of Fort Myers and Naples, has been appointed by the Estero Village Council to the newly formed Village of Estero Planning, Zoning and Design Board. The new board replaces the previous planning and zoning board and design review board for Estero, combining them into one body.  Sheeley was vice chairman of the design review board, where he has served for the past three years. 

 

Derek Bornhorst

Derek Bornhorst has been named president of Lee & Associates in Southwest Florida. Bornhorst, a perennial top producer at Lee, has represented numerous blue-chip companies expanding in Southwest Florida since he joined Lee & Associates in 2011 as principal of the industrial division. Prior to Lee & Associates, Bornhorst was vice president of industrial services with Grubb & Ellis and industrial specialist with CB Richard Ellis. Bornhorst has been a CoStar Power Broker for industrial lease transactions for 12 years in a row. A graduate of Ohio University with a BA in management information systems, Bornhorst has earned the designations from and including the Society of Industrial & Office Realtors, Certified Commercial Investment Member and Commercial Investment Professionals.

 

Adam Milner

Naples-based DeAngelis Diamond welcomes Adam Milner to the team as senior project manager. In his role, Milner will monitor project performance to ensure projects are delivered according to the client’s expectations. He will take a leadership role in managing the client relationship together with the project resources. With more than 12 years of construction experience, Milner has an impressive, diverse portfolio on projects totaling 3.9 million square feet and $1.8 billion. After receiving his degree in building construction from the University of Florida, Milner began his career in Las Vegas before transitioning to the Nashville area in 2018. He will be based at the DeAngelis Diamond Nashville office to lead the Vitality Senior Living project, Capitol View-Block F multifamily project in downtown Nashville and provide operational expertise on future project pursuits.

 

 

Eric DeCook

LSI Companies Inc. welcomes Eric DeCook as its director of accounting. DeCook will be working alongside the chief financial officer to provide financial governance and is responsible for the timely completion of month-end financial statements, operational budgets, internal analyses, and payroll. DeCook received his bachelor’s degree in accounting from Central Michigan University and brings more than eight years of experience to the company.

 

The Royal Palm Coast Realtor Association (RPCRA)  has hired Angela Foster as director of professional development. Foster brings more than 20 years of experience to her director role, where she will be responsible for creating and managing RPCRA’s professional development offerings that empower Realtor members to expand their careers and stand out in a competitive market. Prior to joining the RPCRA, she served as a professional development coordinator and administration coordinator for the Orlando Regional Realtor Association. Foster spent most of her career in the nonprofit industry after earning a bachelor’s degree in public administration and minor in nonprofit management from the University of Central Florida. She is currently a member of the Florida Society of Association Executives.

 

KUDOS

 

Gulf Coast International Properties has named Dave Urness as Agent of the Month for March. As a 30-year resident of Naples, Urness has seen the area grow into the community it has become. Urness is proficient in the luxury market, and he is a former golf professional who is well-versed on Naples’ luxury golf communities.

 

The Collier Building Industry Foundation (CBIF) 2021 scholarship application is now available online. Applicants may also contact the Collier Building Industry Association (CBIA) office at 239-436-6100 to receive an application via email or U.S. mail. Completed applications are due to the CBIA by 5 p.m. on May 3 at 3200 Bailey Lane, Suite 110, Naples. Any graduating high school student or student currently in college pursuing studies in construction or construction-related careers and residing in Collier County may apply. CBIF also provides a $1,000 grant to any education institution or not-for-profit organization providing experiential learning activities and hands-on activities in construction-related fields to students. To be considered for this grant or learn more about the criteria, click here to complete and submit the grant application. CBIF’s second annual clay shoot tournament, “Locked and Ready to Rock,” raised more than $20,000 to support student scholarships. The sold-out event was held on Feb. 19.

 

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.

GET SOUTHWEST FLORIDA'S BEST VIEW OF BUSINESS STRAIGHT TO YOUR INBOX.

You May Also Like