This Week in Real Estate: Sept. 23-29

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RESIDENTIAL

FORT MYERS CRA LAUNCHES REVOLVING HOUSING LOAN PROGRAM
The Fort Myers Community Redevelopment Agency (CRA) announces a Revolving Housing Loan Program available in the Cleveland Avenue and Dr. MLK Jr. Boulevard redevelopment areas. The fund is to be used exclusively to support developers seeking to construct housing targeting individuals that make 100% of the Area Median Income (AMI) or less. Loans acquired through this program must be repaid within 24 months. Upon repayment back to CRA, the money returns to the trust fund to be loaned out once again in the project area to build additional affordable housing units. Catalyst Community Capital Inc., a Florida 501 (c)(3) nonprofit organization and certified Community Development Entity (CDE), is partnering with the CRA to create the loan fund. The program will primarily target smaller projects, including single-family homes and multifamily properties with less than 40 units. To apply, contact Michael Maguire at mike@catalystcd.com.

 

COMMERCIAL

FORT MYERS OFFICE BUILDING SELLS FOR $7 MILLION
Lee Memorial Health System purchased the 68,025-square-foot office building at 12451 Gateway Blvd. in Fort Myers from Lynx Gateway LLC for $7 million. Adam Palmer, CCIM, SIOR, and Steve Wood with LandQwest Commercial represented both parties in the transaction.
 
FORT MYERS LAND ACQUIRED FOR $5.375 MILLION
RV Retailer Florida Real Estate LLC purchased 12.40 acres in Colonial Commons at 8995 Colonial Center Drive, Fort Myers, from WDK Investments LLC for $5.375 million. The buyer plans to develop the property into an RV dealership. Skip Thinnes of Lee & Associates | Naples-Fort Myers negotiated the transaction. 
 
FORT MYERS RETAIL BUILDING BOUGHT FOR $3.02 MILLION
Shadow Development LLC purchased the 18,065-square-foot retail building at 17901 Summerlin Road in Fort Myers from BR of Winsonsin LLC for $3.02 million. Bob Pekol with LandQwest Commercial was the transaction broker.
 
FORT MYERS OFFICE BUILDING BOUGHT FOR $3.15 MILLION
First Myers LLC purchased the 20,500-square-foot office building at 2075 W First St. in Fort Myers from MLD Investments LLC for $3.15 million. Bruce Micciche, CCIM, qualifying broker for LandQwest Commercial, represented the seller in the transaction.
 
PUNTA GORDA PROPERTY PURCHASED FOR $2.763 MILLION
Parkside Punta Gorda LLC purchased 22.8 acres at 26020 Jones Loop Road in Punta Gorda from Jones Loop Road LLC for $2.763 million. Michael Price, ALC, land division director for LandQwest Commercial was the only agent involved in the transaction.
 
FORT MYERS MILLION BUILDING SELLS FOR $1.175 MILLION
Incore Residential LLC purchased the 32,557-square-foot Eastpointe Professional Center building at 4048 Evans Ave. in Fort Myers from Blauners-8018 Broadway LP for $1.175 million. Adam Palmer, CCIM, SIOR, and Steve Wood with LandQwest Commercial represented the seller in the transaction. Terry Wayland of RE/MAX Destination Realty represented the buyer.
 
ST. JAMES CITY RETAIL BUILDING BOUGHT FOR $1.6 MILLION
Pine Island Brew LLC purchased the 1,650-square-foot retail building at 3421 Stringfellow Road in St. James City from Ragged Ass Saloon LLC for $1.6 million. Frank Kupiec with LandQwest Commercial represented the seller.
 
NORTH FORT MYERS RETAIL BUILDING ACQUIRED FOR $1.125 MILLION
Plasmo LLC purchased a 5,100-square-foot retail building at 547 Pine Island Road in North Fort Myers from NFM Pizza Venture LLC for $1.125 million. Bruce Micciche, CCIM, with LandQwest Commercial represented the seller.
 
SAINT JAMES CITY MOTEL SELLS FOR $925,000
2 Fish Inn LLC purchased the six-unit boutique motel at 2948 Oleander St. in Saint James City from Two Fish Inn LLC for $925,000. Bruce Micciche, CCIM, with LandQwest Commercial represented the buyer in the transaction.
 
FORT MYERS BUILDING PURCHASED FOR $902,5000
Aqua 4 LLP has purchased a 5,204-square-foot office building located at 28 Barkley Circle, Fort Myers, for $902,500 from Summerlin Risk Management LLP. Gary Tasman, CEO and principal broker, and Gretchen Smith, director and broker of Cushman and Wakefield | Commercial Property Southwest Florida LLC represented the seller in negotiating the transaction.
 
FORT MYERS OFFICE BUILDING SELLS FOR $860,000
Hendry Street LLC purchased a 3,699-square-foot office building at 1531 Hendry St. in Fort Myers from Patobe Partners LLC for $860,000. Mike Doyle, CCIM, with LandQwest Commercial represented the seller in the transaction, while Adam Palmer, CCIM, SIOR, represented the buyer.
 
NAPLES COMMERCIAL SPACE BOUGHT FOR $840,000
SWPS Holdings LLC purchased 3,111 square feet of commercial space from Bear & Associates L.L.C. located at 3575 Mercantile Ave., Naples, for $840,000. William V. Gonnering, CCIM, SIOR, and Christine McManus, CCIM, SIOR, of Investment Properties Corp. negotiated this transaction.
 
FORT MYERS PROPERTY PURCHASED FOR $800,000
 2811 Colonial Boulevard, Fort Myers, was sold to CFCW Propco Colonial LLC for $800,000. Lane Boy of Cushman & Wakefield | Commercial Property Southwest Florida handled the seller in negotiating the transaction.
 
PROFESSIONAL 41,000-SQUARE-FOOT PLAZA SELLS IN FORT MYERS
 A Miami investor just bought a Fort Myers professional plaza. Carlos Marco’s company purchased Colonial Professional Plaza at 4350 Fowler Street. The plaza has a Hertz Rental Car, Quest Diagnostics and other medical-related businesses. It is mostly leased, with three vacancies, Marco said, which made the acquisition attractive to him. “We like everything,” Marco said. “We think the city has a lot of potential. We like the area for continued development. We like the direction everything is going.” Adam Palmer of LandQwest brokered the sale after signing lease extensions for many of the businesses there. “This was a big one,” Palmer said of the 41,000-square-foot plaza. “We spent a lot of time working on it to where it was enough lease absorption. We had some big blocks of vacancy that needed to be filled up. We needed to do that. “We added not only some new tenants, but we added some extensions as well.” There will be no immediate changes to the plaza, Marco said. “We’re going to leave everything as-is and make it better,” Marco said. “We’ll keep the same tenants and fill the empty spaces.” 
 
SEAGATE COMPLETES THIRD REMODEL OF EMCYTE HQ
Seagate Development Group has completed EmCyte Corporation’s headquarters remodel at 4331 Veronica S. Shoemaker Blvd. in Fort Myers. Part of the autologous regenerative biologics company’s third phase, it included creating a manufacturing space in the warehouse of a preexisting 30,000-square-foot facility. The remodel accommodates a growing amount of medical equipment among current learning centers and offices. By the fourth quarter of 2021, the remodel will be coupled with a 14,000-square-foot laboratory and warehouse, accompanied by air-conditioning-controlled storage. It will ultimately connect to the now freestanding building by a breezeway. Crews are also working on additional parking and travel lanes for deliveries. Seagate has worked with EmCyte for nearly three years on its headquarters.

 

LEASES

Premier Linen Services leased 50,520 square feet in the CenterLinks industrial project at 9131 Centerlinks Commerce Drive in Fort Myers from Centerlinks Associates LLC. Mike Doyle, CCIM, and Adam Palmer, CCIM, SIOR, with LandQwest Commercial represented the landlord in the transaction. Brandon Stoneburner of Colliers represented the tenant.
 
Millennium Physician Group LLC leased 20,597 square feet of office space in University Park IV at 12871 University Drive, Suites 100 & 200, Fort Myers, from Uccello University LLC. Enn Luthringer, CCIM of CRE Consultants negotiated the transaction.
 
Convergint Technologies leased 12,860 square feet in the Centerlinks industrial project at 9130 Centerlinks Commerce Drive, Units 1-2, Fort Myers, from Centerlinks Associates LLC. Adam Palmer, CCIM, SIOR, and Mike Doyle, CCIM, with LandQwest Commercial represented the landlord in the transaction. Brandon Stoneburner of Colliers represented the tenant.
 
Advocate Debt Relief LLC leased a 11,850-square-foot office space in Riverview Corporate Center at 27599 Riverview Center Boulevard, Suite 201, Bonita Springs, from Brookwood SFL I LLC. Randal Mercer, Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants negotiated the transaction.
 
Dollar Tree leased 11,262 square feet of retail space at Imperial Bonita at 11601-611 Bonita Beach Road, No. 220, Bonita Springs, from 2014 Bonita Springs LLLP. Laura Cari and Mike Concilla with LandQwest Commercial represented the landlord in the transaction. Paige Eber of Katz & Associates represented the tenant.
 
Aspen Dental leased 9,987 square feet of retail space in the Alico Business Center at 9954 Interstate Commerce Drive in Fort Myers from 2020 Alico Road LLC. Mike Concilla and Laura Cari with LandQwest Commercial represented the landlord in the transaction. Rebecca Hallum with Hallum Realty Advisors represented the tenant.
 
Stone & Tile from Portugal leased 9,075 square feet of industrial space at 5610 Zip Drive in Fort Myers from TFP South Properties LLC. Michael Price, ALC, with LandQwest Commercial represented the tenant. Dan Miller of Colliers represented the landlord.
 
Gratuity Solutions leased 6,526 square feet of office space in the Kraft Center at 3520 Kraft Road, Suite 200, Naples, from the Kraft Office Center. Adam Palmer, CCIM, SIOR, and Laura Cari of LandQwest Commercial represented the landlord in the transaction.
 
Millennium Physician Group leased 5,207 square feet of special-use space at 14171 Metropolis Ave. in Fort Myers from Greater Ft. Myers Properties LLC. Adam Palmer, CCIM, SIOR, and Steve Wood with LandQwest Commercial represented the tenant in the transaction. Chase Mayhugh & Bryan Burchers of Mayhugh Commercial Advisors represented the landlord.
 
Duct Detectives Inc. leased 4,480 square feet of industrial space at 16120 Lee Road, Unit 160, Fort Myers, from SFG ISF Fort Myers Lee LLC. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida handled the landlord and the tenant in negotiating the transaction.
 
Artistic Science leased 4,110 square feet in the Southlinks industrial park at 12621 Trade Way Drive, Suite 5, Bonita Springs, from Southlinks Associates LLC. Adam Palmer, CCIM, SIOR, Mike Doyle, CCIM, and Eli Lauber with LandQwest Commercial represented both parties in the transaction.
 
Citizens Securities Inc. leased 3,792 square feet of retail space at 560 Ninth St. S., Naples, from Golfhunt LLC. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property Southwest Florida handled the tenant in negotiating the transaction.
 
Millennium Physician Group leased 3,400 square feet of industrial space at 13881 Jetport Loop in Fort Myers from CAM Realty of Southwest Florida Inc. Adam Palmer, CCIM, SIOR, and Steve Wood with LandQwest Commercial represented the tenant. Cheryl Maymon of CAM Realty represented the landlord.
 
Encore Infusion Florida leased 3,267 square feet of office space in the Kraft Center at 3555 Kraft Road, Suite No. 200, Naples, from Kraft Office Center North Parcel LLC. Laura Cari and Adam Palmer, CCIM, SIOR, with LandQwest Commercial represented the landlord, while Pamela Pipher with CRE Consultants represented the tenant.
 
Ohio Real Title leased 3,242 square feet of office space at 1421 Pine Ridge Road, Suite No. 110 in Naples, from Magnolia Square LLP. Laura Cari and Adam Palmer, CCIM, SIOR, with LandQwest Commercial represented the landlord in the transaction. Kevin Riley of Totum Realty Advisors represented the tenant.
 
Baby Doge LLC leased 3,235 square feet of office space at 1520 Royal Palm Square Blvd., Suite 130, Fort Myers, from West Coast Properties LLC. Gary Tasman and Gretchen Smith of Cushman & Wakefield | Commercial Property Southwest Florida handled the landlord and the tenant in negotiating the transaction.
 
American Thermal Solutions leased 3,200 square feet of industrial space in Crystal Drive Park at 2351 Crystal Drive, Suite 107, Fort Myers, from Crystal Drive LLC. Mike Doyle, CCIM, and Rokki Rogan, CDPE, with LandQwest Commercial represented the landlord. Chase Mayhugh, CCIM, with Mayhugh Commercial Advisors represented the tenant.
 
Paddy Murphy’s leased 3,060 square feet in the Marco Town Center at 1017 N. Collier Blvd., No. 38, Marco Island, from Brixmor Property Group. Frank Kupiec with LandQwest Commercial represented the tenant. Darren Moore with Trinity Commercial Group represented the landlord.
 
Florida Pain Partners leased 2,876 square feet of office space in the Kraft Center at 3555 Kraft Road, Suite No. 280, Naples, from Kraft Office Center North Parcel LLC. Laura Cari and Adam Palmer, CCIM, SIOR, with LandQwest Commercial represented the landlord in the transaction. Vedran Vicevic of ReMax represented the tenant.
 
Direct Marketing Associates Inc. leased 2,590 square feet of office space at 12995 S. Cleveland Ave., Units 236, 238 and 239, Fort Myers, from Pinebrook Pine LLC. Gary Tasman of Cushman & Wakefield | Commercial Property Southwest Florida handled the landlord and the tenant in negotiating the transaction.

 

KUDOS

The Collier Building Industry Association (CBIA) 2021 Sand Dollar Awards Gala, “The Wind Beneath Our Wings,” was held Sept. 25 at The Ritz-Carlton, Naples. The event celebrated 31 years of excellence in the construction industry and was presented by CBIA’s Sales and Marketing Council (SMC). Sand Dollar Committee Chairperson Lynne Stambouly of Illuminated Design spearheaded this year’s event with vice chairperson Blanca Vasquez of VCC Contracting LLC and immediate past-chair Erin Otterbeck of AlliKristé Custom Cabinetry & Kitchen. Sixty-two companies were recognized with the 2021 Sand Dollar Awards. For a list of the winning projects, click here.
 
Gulf Coast International Properties has named Shirley Wazny Agent of the Month for September. A licensed Realtor in both Florida and Michigan, the Northwood University graduate holds a Certificate in Executive Management from Notre Dame. Wazny has nearly $30 million under contract.