This Week in Real Estate: May 20-26

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Lead Photo: Rendering of Coronado Parkway Condominiums

 

RESIDENTIAL

 

SELLERS STEP UP IN ATTEMPT TO MEET BUYER DEMAND IN APRIL

Buyers eager for more home choices found an increase in new listings during April. Collier County had 1,460 new listings added to the pool of homes for sale in Naples during April, according to the April 2021 market report released by the Naples Area Board of Realtors. This was a 106% increase in new listings compared to new listings added during April 2020. April had 2,037 pending sales or homes under contract and 1,882 closed sales, which resulted in 1,432 homes remaining in inventory by the end of the month. Not surprising, and because of increased demand for the Naples lifestyle, the eight-month supply of homes in April 2020 was reduced to a 1.1-month supply of homes at the end of April 2021. The substantial loss of inventory is attributed to post-pandemic relocation buying behaviors, a new reality in many Florida communities.

 

REPORT: PROSPECTIVE HOMEBUYERS PRIORITIZING COMMUNITY CONNECTION

In Southwest Florida, home sales are reaching record highs as increased demand meets low supply, Bank of America reports. While low interest rates are often seen as driving forces in home sales, Bank of America’s 2021 Homebuyer Insights Report found that a sense of community and good neighbors are key priorities for today’s homebuyer. The survey of 2,000 adults nationwide found that for more than half of young buyers and a third of older adults, a sense of community has become more important in the past year. Other influence points for homebuyers include more space and technology upgrades. Despite the hardships of the past year, home buying continues to be a goal young people proactively work toward, with 87% saying saving to purchase a home is a priority.

 

CONSTRUCTION BEGINS ON CORONADO PARKWAY CONDOMINIUMS IN CAPE CORAL

Owen-Ames-Kimball Co.  (O-A-K) has begun construction and site work on Bacino Vista Investments’ Coronado Parkway Condominiums in Cape Coral. The nautical-themed, approximately 48,954 square foot, multi-family condominium building will have 16 two and three-bedroom residences on two floors. The building’s design reflects a Bahamas-inspired architectural style and the tropical waterfront setting. Residents will have waterfront views across the 80-foot-wide Atlantic canal, with direct access to the Caloosahatchee River. Additional amenities include private boat slips and a custom-built boat dock, pool and gathering space overlooking the boat basin. The building will have ground-level parking below the residential living space. Site work includes utilities, landscaping, and an asphalt parking lot. O-A-K’s project manager is Kevin James, the project superintendent is David Campbell, and the project estimator is Abel Natali. The project architects are GMA Architects & Planners.

 

AVE MARIA CONTINUES RECORD-BREAKING HOME SALES IN 2021

Ave Maria, the fastest-selling new home community in Collier County, reports more than 680 new home sales within the last year. Since the opening of the development in 2007, more than 3,000 new homes have been sold in the 4,000-acre master-planned community, planned for about 11,000 residences at full buildout. Home sales were reported from the four residential builders in Ave Maria: CC Homes, Del Webb Naples, Lennar and Pulte Homes. “The community’s residential and commercial developments, including new professional office suites and dining and retail options, are driving the record-breaking growth in 2021,” says Cee Cee Marinelli, director of development for Ave Maria. 

 

STOCK CUSTOM HOMES EXPANDING PRESENCE IN WILDBLUE 

Stock Custom Homes, the luxury homebuilding division of Stock Development, is currently constructing two estates on lakefront homesites in the master-planned community WildBlue in Estero. Based on the Alexandria floor plan, the first property will feature 4,672 square feet of under-air living space. It will contain four bedrooms plus a bonus room, four and one-half baths plus a pool bath, double two-car garages, and the signature Stock element of expansive outdoor living with a pool and spa. The second estate, inspired by the Winfield floor plan, will feature 4,720 square feet under air and contain four bedrooms plus a bonus room, four and one-half bathrooms plus a pool bath, a four-car garage, and an outdoor living space encompassing 1,906 square feet.

 

Marsala model by Frey & Son Homes

FREY & SON BREAKS GROUND ON INVENTORY HOMES IN CAPE CORAL

Frey & Son Homes has recently broken ground on three new inventory homes in Cape Coral. Located at 229 NW 33rd Ave. in Cape Coral, the Key Largo 2 model will feature three bedrooms and two bathrooms, a study, three-car garage, high ceilings and contemporary features, with walls of glass along the rear of the living area. The second inventory home, located at 2832 SW 35th Street, is a three-bedroom, three-bathroom Marsala model. It features a den, lanai and 10-foot sliders with clean, modern accents throughout. The third inventory home, located at 1732 SE 40th Terrace, is the new two-story St. Lucia Grande model, featuring four bedrooms, three bathrooms, a study, garage, beautiful outdoor living area, loft and more. Frey & Son Homes expects to complete the homes by the end of the year.

 

An exterior view of Diamond Custom Homes’ recently-sold estate home at 6553 Highcroft Drive in Quail West Golf and Country Club.

DIAMOND CUSTOM HOMES SELLS QUAIL WEST ESTATE

Diamond Custom Homes has announced the sale of its estate home located at 6553 Highcroft Drive in Quail West Golf and Country Club. Recipient of a Grand Aurora Award from the Florida Home Builders Association, the residence comprises 8,239 total square feet in a two-story, West Indies-style design overlooking the 17th fairway and green of Quail West’s championship Preserve Golf Course. The estate was completed in spring 2019 as the personal residence for Diamond Custom Homes President Michael Diamond and his family. The home was designed by architect John Cooney of Stoff Cooney Architects, with interior design by Lusia “Lou” Shafran of Pacifica Interior Design, custom cabinetry by Edge Interiors and landscape architecture by Pat Trefz of Outside Productions Inc. The 5,893-air-conditioned-square-foot property features four bedrooms, four full and two half bathrooms.

 

 

COMMERCIAL

 

NAPLES INDUSTRIAL COMPLEX ACQUIRED FOR $13.055 MILLION

Forefront Collier Investments LLC purchased a 74,500-square-foot industrial complex comprising three buildings on 5.39 acres in the North Collier Industrial Center at 1030, 1035 & 1040 Collier Center Way, Naples, from III Star Investments Inc. for $13.055 million. Brock Rasmussen of Lee & Associates | Naples-Ft. Myers represented the buyer and David Stevens, CCIM of Investment Properties Corp. of Naples represented the seller in the transaction.

 

NAPLES RETAIL SPACE SELLS FOR $4.5 MILLION

Seahorse of Naples LLC purchased 15,262 square feet of retail space from JMF Holdings 1231 LLC, located at 1229 Airport Road N., Naples, for $4.5 million. Rob Carroll, CCIM, MAI of Investment Properties Corp. negotiated this transaction.

 

NAPLES OFFICE SPACE BOUGHT FOR $3.2 MILLION

Phelan Properties – Walkerbilt, LLC purchased 12,108 square feet of office space from Walkerbilt LLC, located at 809 Walkerbilt Road, Naples, for $3.2 million. Clint Sherwood, CCIM and Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the seller and David J. Stevens, CCIM of Investment Properties Corp. represented the buyer.

 

FORT MYERS ACRES PURCHASED FOR $2.76 MILLION

Seagate Development Group LLC purchased 9.75 acres at 16542 Oriole Road, Fort Myers, from Harvey B. Youngquist Sr. for $2.76 million. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates | Naples – Ft. Myers represented the buyer and Gary Fluharty of B.I.G. LLC represented the seller.

 

OUTPARCEL AT HOPE PRESERVE SELLS FOR $1.74 MILLION

LSI Companies Inc. brokered the sale of an approximately 2.5-acre outparcel in the Hope Preserve development in Fort Myers for $1.74 million. The property, fronting the primary entrance to the development along Six Mile Cypress Parkway, is planned for medical office use and is located within Hope Preserve, a mixed-use development at the intersection of Six-Mile Cypress and Metro Parkway. The parcel was purchased from Hope Hospice and Community Services Inc by Hodges Mantz Properties LLC. Justin Thibaut, CCIM and Christi Pritchett of LSI Companies Inc. represented the seller. Jack Liptak of VIP Realty Group represented the buyer. 

 

BONITA SPRINGS WAREHOUSE BOUGHT FOR $1.5 MILLION

Royal Scoop Property Managements LLC purchased a 9,715-square-foot air-conditioned warehouse on an 0.9-acre parcel at 10915 Enterprise Ave., Bonita Springs, from GLC Art Co LLC for $1.5 million. Brock Rasmussen and James Walls of Lee & Associates | Naples – Ft. Myers negotiated the transaction.

 

FORT MYERS BUILDING BOUGHT FOR $1.2 MILLION

J&L Investments 2014, LLC purchased a 70,567-square-foot industrial building on 1.62 acres at 5971 Country Lakes Drive, Fort Myers, from Symar LLC for $1.2 million. Stan Stouder, CCIM of CRE Consultants represented the seller and Francisco Rivera of Related ISG represented the buyer in negotiating the transaction.

 

NAPLES LAND PURCHASED FOR $1.2 MILLION

Redline Auto Suites LLC purchased 1.19 acres of vacant land from Jaifer Zabala LLC, located at 5705 Taylor Road, Naples, for $1.2 million. Christine McManus, CCIM, SIOR of Investment Properties Corp. represented the seller and Kevin Aizenshtat of Gulf Coast International Properties represented the buyer.

 

NAPLES RETAIL SPACE SELLS FOR $725,000

2390 Linwood LLC purchased approximately 5,000 square feet of retail space from Terry A. Green, located at 2390 Linwood Way, fourth floor, Naples, for $725,000. Rob Carroll, CCIM, MAI of Investment Properties Corp. negotiated this transaction.

 

FORT MYERS OFFICE SPACE ACQUIRED FOR $650,000

23 Barkley Circle LLC purchased 5,685 square feet of office space at 23 Barkley Circle, Fort Myers, for $650,000. Gary Tasman and John Albion of Cushman & Wakefield | Commercial Property Southwest Florida represented the seller in negotiating the transaction and Lane Boy of Cushman & Wakefield | Commercial Property Southwest Florida represented the buyer.

 

BONITA SPRINGS PROPERTY PURCHASED FOR $230,000

Old 41 Restaurant LLC purchased a 1,396-square-foot industrial condo in Signal Center at 25091 Bernwood Drive, Unit 8, Bonita Springs, from Thomas F. Lachner for $230,000. Fred Kermani, CCIM, AIA of CRE Consultants represented the seller and Catherine Backos of Regasus Realty Group represented the buyer in negotiating the transaction.

 

BIDS WELCOME ON SWFL INTERNATIONAL AIRPORT TERMINAL EXPANSION PROJECT 

Manhattan Construction is welcoming trade partners to bid on the Southwest Florida International Airport Terminal Expansion Project. The multi-phased project starts on Oct. 1 with a completion date of Oct. 1, 2024. The project consists of a multi-story expansion of the existing terminal’s north face along its entire length between the current checkpoint queues of concourses B, C and D. It will centrally locate the three existing TSA checkpoints into one, increase post-security concessions opportunities and adds spaces on a mezzanine level for an airline lounge. The deadline to submit a bid is 2 p.m. on June 15. Information about the project and bidding process can be found on the Manhattan Construction website. Marc McCance of the Florida Small Business Development Center at Florida Gulf Coast University is available to assist with the bid if requested. 

 

FPL BUILDING LARGE SOLAR ENERGY CENTER IN SWFL

FPL is building a sizable solar center in Southwest Florida aimed at helping support the nation’s largest community solar program. The energy company’s goal is to have 30 million panels by 2030. With this new center, they’re about 30% of the way there. Offering much more than just clean energy, the facility promises new jobs and more tax dollars. FPL chose DeSoto County as its innovative hub for solar power in 2009. The county now has five solar energy centers, the most in the Sunshine State. The new facility will create enough energy to power 15,000 homes, WINK News reports

 

Video courtesy of WINK News

FAWCETT MEMORIAL HOSPITAL PLANNING $60M EXPANSION

Fawcett Memorial Hospital in Port Charlotte is getting a $60 million expansion to serve the growing community. The hospital plans to expand its critical care units, operating room and pre-op treatment areas. A new main lobby, registration areas and waiting rooms are in the works, too. Construction is expected to begin early next year. Fawcett is one of three hospitals in Charlotte County and one of two in Port Charlotte, WINK News reports

 

Amazon Naples

AMAZON LAUNCHING LAST-MILE DELIVERY STATION JUNE 2 IN EAST NAPLES

Amazon plans to start delivering packages June 2 from its new last-mile delivery station at 8760 Davis Blvd. in East Naples. To meet the needs of the Seattle-based e-commerce company, Benderson Development recently finished building out the 104,860-square-foot structure on more than 18 acres on the southwestern corner of Davis and Collier boulevards. Built on spec more than a decade ago for retail or office use, the steel frame of the Davis Crossing project remained uncompleted for many years. Packages will arrive there on trucks from Amazon fulfillment centers and they will be sorted and loaded on delivery vans. In addition to Amazon Logistics, deliveries will be made by many area logistics companies contracted by Amazon. The new delivery station is expected to create hundreds of local jobs to help quickly get packages ordered online to local customers’ doors. 

 

Wilderness Country Club

WILDERNESS COUNTRY CLUB MEMBERS APPROVE NEW CLUBHOUSE PLAN

Wilderness Country Club in Naples announced that residents of the private country club community have voted overwhelmingly in favor of replacing the development’s 47-year-old clubhouse building. Plans call for a $13.6-million clubhouse to be built on the site of the current facility, featuring indoor and covered outdoor dining along with private meeting rooms and a new pro shop. The two-story building will showcase an Old Florida architectural style with panoramic views of the championship golf course. “Our current clubhouse building, originally constructed in 1974, has served us very well, but it is coming close to the end of its use and requires significant updates,” said Alan Raulerson, general manager/chief operating officer for Wilderness Country Club. “It is anticipated that building demolition will begin in early 2022 with the brand-new clubhouse opening to our members in the spring of 2023.”

 

LAKESIDE STORAGE SUITES COMING SOON

Due to the success of the Island Storage Suites luxury storage facility, Allan Development Group LLC in partnership with Hardy Development Group are bringing nearly 80,000 square feet of additional mancave-style storage units to Southwest Florida with Lakeside Storage Suites at ITEC. Phase one reservations are limited and are available for reservation now. Scott Allan created the luxury storage facility on Old South Way in south Fort Myers that sold out in record time, selling 68 units in less than two years.  These recreational storage suites, currently selling for $185 per square foot, are customizable, temperature and humidity-controlled. For an additional investment, a second-story mezzanine space can be added for entertainment and relaxation purposes. For more information, email Allan at Scott@AllanDevelopmentGroup.com.

 

Island Country Club entrance

GATES CONSTRUCTION BEGINS REMODEL, EXPANSION OF ISLAND COUNTRY CLUB CLUBHOUSE

Gates Construction has begun the remodel and expansion of the Island Country Club clubhouse in Marco Island. The project involves the first-floor renovation, including a casual indoor/outdoor dining restaurant, a new kitchen, a 24-seat bar, and updated locker rooms. The second-floor transformation will feature an updated dining room, a new bar and lounge area and a private wine room where members can host special events. Located adjacent to the clubhouse, the expanded Wellness Center will offer various spaces for specific fitness requirements and spa treatments. Exterior improvements include an enlarged upper deck with group seating, fire pits, and 180-degree golf course views. Design services are being provided by Peacock + Lewis – Architects and Planners LLC

 

STEVENS CONSTRUCTION EXPANDS WITH NEW CORPORATE HEADQUARTERS

Stevens Construction has started construction of its new corporate headquarters, doubling the size of the existing Fort Myers operations. Located at 14541 Hope Center Loop, the new Stevens Construction headquarters will accommodate its recent growth and position it for future expansion. Stevens Construction currently has 59 team members throughout four offices and plans to create at least 10 more jobs by the end of 2021. Occupying the second floor of the new 20,000-square-foot building, Stevens Construction will include an expansive training room, indoor and outdoor team lounges, plan room, five bathrooms, shower and multiple conference rooms and offices with floor-to-ceiling windows. Construction is slated for completion at the end of 2021 and Stevens Construction expects to move operations in January 2022. The Stevens Construction team includes project manager Jay Wolfe, superintendent Joseph Powalski, and project administrator Rebeccah Hamilton. Architectural services are provided by Southview Studios.

 

University Storage in Estero

SEAGATE SELLS TWO STORAGE FACILITIES TO PUBLIC STORAGE

Seagate Development Group has sold two self-storage facilities to Public Storage. They are located at Arbor Towne Square Shopping Center, 10688 Colonial Blvd. in Fort Myers and at 20091 Tiburon Way in Estero. SW Management & Realty LLC – a Seagate Development Group affiliate – was the broker in this transaction. Seagate developed and constructed these storage facilities in 2019 and 2020. This came after eight months of research and due diligence, including a site selection from six potential sites. The result was Arbor Towne’s 76,000-square-foot facility with 663 units and University Storage’s 63,275-square-foot, three-story building with 601 units. Seagate currently owns a CubeSmart self-storage facility at 5320 Useppa Drive in Ave Maria – the result of a partnership with Ave Maria Development. 

 

LEASES

 

Aldi (Florida) L.L.C. ground leased 2.51 acres for retail space from Addison Commercial Corner LLC located at Addison Place, Tract F, Naples. Rob Carroll, CCIM, MAI of Investment Properties Corp. represented the landlord and John Mounce of LandQwest Commercial Fort Myers represented the tenant.

 

White Cap L.P. leased a 45,000-square-foot building on five acres at 16542 Oriole Road, Fort Myers, from Seagate Alico North LLC. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR and Jerry Messonnier, SIOR of Lee & Associates | Naples – Ft. Myers represented the landlord and Tom Strauss of LandQwest Commercial Real Estate Services represented the tenant.

 

Adaptive Computing leased an 8,405-square-foot office space in 1100 on 5th, located at 1100 Fifth Ave. S., Suite 201, Naples, from 1100 5th Ave LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

MJC Acquisitions LLC leased an 8,100-square-foot office in the World Plaza II Office Condominiums at 12501 World Plaza Lane, Building 51, Fort Myers, from Giga Ventures LLC. Rodney Fidler, CCIM of Lee & Associates| Naples – Ft. Myers negotiated the transaction.

 

Dual North America Inc. leased a 6,235-square-foot office space at 1100 Fifth Ave. S., Suite 301, Naples, from 1100 5th Ave LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants represented the lessor and Shawn Stoneburner of CPSWFL represented the lessee in negotiating the transaction.

 

Ischebeck USA leased a 2,955-square-foot industrial space at 3050 Horseshoe Drive S., Unit 275, Naples, from Helios Colliers, LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

Thompkins Contracting Inc. leased 2,725 square feet of office space at 3507 Lee Blvd., Nos. 211-212, Lehigh Acres, from Lehigh Office LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction. 

 

Cloverfields Capital Group LP leased a 2,632-square-foot office space in The Collective at 111 10th Street S., Suite 200, Naples, from 10th Street Collective LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants represented the lessee and Doug Olson of Trinity Commercial Group represented the lessor in negotiating the transaction.

 

On Demand Pest Control leased a 1,500-square-foot industrial space at 2940 Horseshoe Drive S., Unit 500, Naples, from Helios Colliers LLC. Dave Wallace, CCIM, SIOR and David Wallace of CRE Consultants negotiated the transaction.

 

Fabulous Refurbishings LLC leased a 1,380-square-foot space in South Cape Business Park at 4409 SE 16th Place, Unit 10A, Cape Coral, from SFJ Realty Group LLC. Jeff Forsythe, CCIM of Lee & Associates | Naples – Ft. Myers negotiated the transaction.

 

Power House Studios LLC leased a 1,380-square-foot space in South Cape Business Park at 4409 SE 16th Place, Unit 10B, Cape Coral, from SFJ Realty Group LLC. Jeff Forsythe, CCIM of Lee & Associates | Naples – Ft. Myers negotiated the transaction.

 

Florida Coastline Construction Inc. leased a 1,380-square-foot space in South Cape Business Park at 4409 SE 16th Place, Unit 8, Cape Coral, from SFJ Realty Group LLC. Jeff Forsythe, CCIM of Lee & Associates | Naples – Ft. Myers negotiated the transaction.

 

Estes Brothers Construction leased 1,066 square feet of office space at 5425 Golden Gate Pkwy., No. 1E, Naples, from Broker Solutions Inc. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida represented the landlord and the tenant in negotiating the transaction.

 

Angela Woolley

ON THE MOVE

Frey & Son Homes has added several new team members this month. Thad Pauly has been appointed superintendent, responsible for the Collier and East Lee County areas. Pauly has worked as a general contractor and has over 30 years of experience in the construction industry. Angela Woolley is the home builder’s newest administrative assistant. A Florida native, Woolley is new to the construction industry. Joe Tedesco joins the team with more than a decade of experience in the building industry. 

 

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