Income Property Investment
A look at different types, ownership
Naturally, the rapid addition of residential areas is spurring the proliferation of commercial real estate development. All those new residents require office space, industrial and manufacturing facilities, shopping, and restaurants.
The Fountains Professional Park
New offices underway in Bonita
The 5,270-square foot building, as shown in this rendering, is the first of 11 planned one-story individual buildings in the complex. The final phase of the project will consist of two, two-story office buildings.
Bundschu Kraft Completes Multi Purpose Facility
The combined administrative office and distribution center is at 4771 Waycross Road, in B.F. Industrial Park, just east of the I-75 and Luckett Road interchange (exit 24)in Fort Myers.
From the Ground Up
Why a ground lease may work for you
A ground lease may prove to be the perfect structure to satisfy the needs of both the property owner and the end-user. Simply stated, in a ground lease, the property owner agrees to allow a third party to use the property for an agreed upon rental amount and term.
Prime Bonita Property Sold
West Bay completes sale of commercial property; retail center planned
West Bay Club Development Corporation has completed the sale of 7.2 acres of commercial property to The Destin Company, a Clearwater-based development firm. The property is located on U.S. 41 south of Williams Road and directly south of the West Bay Club sales and information center.
Alico Sells more Estero Land
$34 million for land near FGCU, north of Alico
Ben Hill Griffin III, Chief Executive Officer and Chairman of the Board of Alico, Inc. (ALCO), announced today that the company has entered into a contract to sell approximately 2,500 acres of its Lee County property to a commercial real estate development company.
Fifth Third Center
Grubb & Ellis|VIP - D'Alessandro to Handle Leasing for Soon-to-be Tallest Building in Naples
. The property is a 145,000-square-foot, eight-story, Class A office tower located at the Intersection of US 41 and Vanderbilt Beach Road in Naples, Florida. Attached to the building is a 495 space, covered parking garage.
Lee Real Estate Snapshot
Seventh annual event highlights real estate market changes
Each of the event's keynote speakers emphasized the importance of understanding how the Internet has changed -- and continues to change -- the real estate world.
Land Solutions Inc.
Local broker offers unique new service
Builders and developers seeking land for future residential development in Southwest Florida now have a source dedicated solely to locating and acquiring suitable land, according to Randy Thibaut, president of Land Solutions Inc.
The Trade Center at Six Mile Cypress Commercial Park
Multi-use facility now complete
Construction is now complete on The Trade Center at Six Mile Cypress Commercial Park in South Fort Myers. The Trade Center was a design/build project by G.R. Construction Management Inc., developed by the San Carlos Bay Group, Inc.
Grubb & Ellis|VIP-D'Alessandro Honors Top Producers
President's and Executive Clubs announced
These are the two highest sales achievement levels recognized annually by the company.
Grubb & EllislIPC Achieves Record Volume in 1999
$121 million year at real estate firm
"Last year had a lot to offer - a combination of good investor demand, a strong leasing market, and plenty of available capital."
VIP Realty Honors Top Producers
President's Club, Executive Club and Champions Club announced
This is the highest sales achievement level recognized by VIP, and includes more members in 1999 than ever in the company's 25-year history.
First Union Building Sold; redevelopment planned
Developer Jack Antaramian closes on another historic Fifth Avenue building
Jack Antaramian, 900 Development Corporation president, announces that the company has purchased the 11,000-square-foot, two-story First Union Bank Building located at the southeast corner of Fifth Avenue South and Ninth Street in downtown Naples. The transaction closed on March 14, 2000 for $2.575 million.
Historic Earnhardt Building Sold
Investors purchase downtown Fort Myers commercial space for $1.29 million
This (Earnhardt) building has so many features, from the original oak wood flooring that is over 100 years old to the porcelain mosaic floor weve found on the first floor, he said. I want the building to have the feel of the 5th Avenue South area in Naples.
Panda Pavilion Building Sold
Building to be used for medical offices in Naples hospital corridor
Specialists in Urology Building Partnership, LLP, purchased the building for $1.33 millon from Elvin A. Townsend Trust.
Increasing demand for properties fuels growth in Lee and Collier Counties
In 1999, the industrial sector experienced some contraction, stemming from exporting difficulties and rising cap rates. That shock is now past, however. The years ahead should be a time of evolution and growth for industrial real estate overall.
Owen-Ames-Kimball Honored in National Competition
Award given for role in community theater construction
The national organization of the Associated Builders and Contractors, Inc. (ABC) has awarded Owen-Ames-Kimball Company a Certificate of Commendation in its 1999 Excellence in Construction Awards competition.
Harbourside Custom Homes Completes New Corporate Headquarters
New building in Bonita
Harbourside Custom Homes has completed construction of its new office building at 8800 Signal Road at U.S. 41 in Bonita Springs. A portion of the 15,000 square foot complex contains the company's corporate office and the balance accommodates other commercial businesses, including Dan Sater Design, Freestyle Interiors, Dr. Welke, Starlight Pools and Arvida Realty.
Local Realtor Wins State Award
Arvida's Warren Barry Honored
Warren T. Barry, CCIM, SW Florida Commercial Director of ARVIDA Realty Services of Fort Myers was awarded the Hank Thompson Award at the Florida CCIM Chapter's Annual Installation Banquet last evening in Orlando.
Commercial Real Estate Markets Expected to Stabilize in 2000
Research study projects strong growth in rent rates
Commercial real estate markets in the U.S. are expected to stabilize in the year ahead, after riding a wave of economic expansion for nine consecutive years. "Growth in new product development and occupancy rates should be fairly well balanced in most markets and across all four major property types," said Randal L. Mercer, president of CB Richard Ellis, Ft. Myers-Naples.
Real Estate Company Builds High Marks
CB Richard Ellis ranked No. 1 among commercial real estate companies in Florida
CB Richard Ellis is the number one commercial real estate company in Florida, based on total income from real estate sales, leasing and management. The new rankings have been prepared by Florida Trend magazine and published in their annual guides, "Business Florida 2000" and the "Book of Lists." The international real estate giant is represented locally by CB Richard Ellis, Ft. Myers - Naples, FL, a partner office owned and operated by four Southwest Florida commercial real estate experts and one national partner.
The Power of a 1031 Exchange
How this exchange could work for you
If you are thinking of selling a business or investment property, Internal Revenue Code 1031 is an important option to consider. This IRS code is most often called a 1031 Exchange, but is also known as a deferred exchange, Starker exchange (named for the Starker Case which changed the nature of the Code in the 1970's), real property exchange or like-kind exchange.
Technology Brings Change to the Commercial Real Estate Industry
Professionals Face Change in 2000 and Beyond
The role of the traditional commercial real estate broker is changing, and technology is responsible.
Local Real Estate Company Announces New Commercial Team
Prudential Florida WCI Realty moves into commercial real estate arena
Prudential Florida WCI Realty, the general real estate division of Watermark Realty Inc., a subsidiary of Watermark Communities Inc. (WCI), has formed a commercial real estate division office, temporarily located at 405 Fifth Ave. South in downtown Naples. The permanent office location in the Northern Trust Bank Building located at 375 Fifth Avenue South is being renovated and is expected to open in this month.
Randall Stofft Architects To Design Upscale Building In Naples
Mediterranean-styled building to be located on Fifth Avenue
Randall Stofft Architects has been selected to design a luxurious, Mediterranean-inspired multi-use commercial building to be developed along trendy Fifth Avenue in Naples, Fla.
Mel-Re Begins Development of Re/Max Realty Group Center
Mel-Re Development Inc. has officially broken ground for the RE/MAX Realty Group Center, a 12,000-square-foot, multi-tenant office building on Cypress Lake Drive just east of Summerlin Road. With the famous RE/MAX hot air balloon hovering in the background and golden shovels in hand, RE/MAX owner Michael Frye and members of the development team gathered at the site Dec. 3 to turn the first shovel of dirt and get the project off to a colorful start.
Chico's Expands World Headquarters
Local Owen-Ames-Kimball to construct the new building
Chico's FAS Inc. has chosen Owen-Ames-Kimball Company to construct a 35,000-square-foot expansion of its world headquarters on Metro Parkway in Fort Myers. According to Owen-Ames-Kimball president Steve Shimp, the expansion reflects the company's phenomenal recent growth and increased sales volume nationwide.
New Treatment Facility Purchased
SWFAS buys downtown property for new adult treatment facility
Southwest Florida Addiction Services (SWFAS) last week purchased more than one acre of property in central Fort Myers to open its first transitional living facility for adults recovering from substance abuse.
New sales center opens in Shadow Wood
A new Shadow Wood Sales Center is now open at The Brooks. The 7,200-square-foot center, with 15 employees, overlooks the lake at the entrance to Shadow Wood, one of three gated communities opened to date in The Brooks.
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Bonita Commercial Space
The market flourishes under continued growth
Colony Plaza As Lee and Collier counties continue to grow together, increasingly becoming one seamless commercial and residential market, Bonita Springs flourishes at the epicenter.
A Town Within a Town
Welcome to Gateway, a massive commercial and residential development quickly becoming one of Fort Myers' hot growth spots.
The Flourishing Lee Industrial Market
A healthy economy has made for good times
Lee County's industrial space market -- possibly the healthiest segment of the local real estate market -- is a reflection of steady growth in manufacturing and distribution.
Widening of Lee Boulevard expands opportunities
Call it a small town U.S.A, a working-class neighborhood or subdivision, Lehigh Acres is due to grow residentially and commercially in the years ahead, due in part to the a newly widened gateway road leading to its doorsteps.
Golden Gate Parkway
Naples' New Golden Gateway
It wasn't that long ago that Golden Gate Parkway, the six-mile road that connects working-class Golden Gate with Coastland Mall, Tamiami Trail and coastal amenities, was bucolic, even quaint.
The 1998 Lee Office Market Shift
Nineteen-ninety-seven was a year of impressive construction in the Lee County office market. In 1998, however, rising vacancy rates will mean a slowdown in activity as empty space waits for absorption and changes in business patterns mark a shift in types of uses.
Collier County Industrial Market
Strong and Growing
With the strong industrial market, a number of new parks are currently being developed, and units within those sites are selling quickly.
The Address to Have
It is the best known and arguably the most sought after address in Lee County. With its palm trees and famous winter residences along the Caloosahatchee River, McGregor Boulevard offers businesses a picturesque and historic address with easy access to other areas of the city and county.
Metro Parkway, Fort Myers
Progress is on the way
You're sitting in traffic, late for a meeting. What's worse, it's your meeting-you have the bag of bagels beside you to prove it. Silently cursing the traffic light, the cars, the construction, you pull out a bagel and wait. And wait. You imagine a penetrable north/south corridor with fewer lights than U.S. 41. Before long it won't just be a figment of your imagination and in the future you may arrive at that meeting with your bagels still warm.
Changing Economy Brings Commercial Slowdown
Lee County Market Slows
Lee County has enjoyed a six-year run of strong economic growth and expansion, especially in its real estate markets. Nevertheless, a combination of local, national and even global factors will result sometime soon in a slowdown in activity and growth.
Immokalee Regional Airport
New commercial opportunities
With plenty of space to spread out and numerous business-friendly perks, Immokalee Regional Airport is expanding its commercial possibilities with the construction of an industrial park. Low lease rates and numerous benefits (not the least of which is location) present good opportunities for businesses looking to begin, relocate or expand operations.
An International Bargain
Southwest Florida commercial real estate
As international companies look to expand their reach throughout the world, they're seeing office occupation costs of$17 to $21 per square foot in Collier County and only $14 to $18 square foot in Lee County. The rates are quite attractive when compared to London at $118.11, Hong Kong at $111.95, Tokyo at $92.77, Paris at $62.24, or Frankfurt at $43.38.
Lee Industrial Development
Aggressive development of large warehouse and manufacturing facilities east of Interstate 75 is making Lee County's industrial segment one of the bright spots in the local real estate market.
Lee County Sees Decline in Office Vacancy Rates
Trends point to colling off
After peaking at 18 percent in 1997, the vacancy rate in Lee Countys office market is headed down this year as construction slows and new tenants occupy existing space.
Ft. Myers business corridor still strong
Today Colonial Boulevard, located only about two miles north of College Parkway, has taken away some of the traffic that used to crowd the busy street and intersections. It would be easy to assume that the bustling part of town might fall by the wayside. That assumption would be wrong.
This diverse road still strong
One section boosts several industrial parks. Another is home to the sprawling Grey Oaks Country Club and Naples Bath and Tennis Club, offering a more residential flavor. Automobile dealers and other commercial ventures are sprinkled throughout.
Bonita Beach Road
Coming around again
In the past two decades, commercial Realtor Andrew DeSalvo has watched the changing face of commercial confidence along Bonita Beach Road. It is a cycle that has traveled from high hopes to disappointment and back to renewed interest and opportunity.
Cape Coral's Del Prado Boulevard
A link in the chain is revitalized by Midpoint Bridge connection
Come summer, the Florida Department of Transportation will be expanding a stretch of Martin Luther King Boulevard in Fort Myers from two lanes to four.
Main Street -- Naples Style
Sparked back to life: 5th Avenue South is back on the fast track
"This season you almost need a hard hat to get down the street, there's so much construction going on." So notes Jim Smith, whose family has owned property along Naples' historic 5th Avenue South for decades.
Land Investments: The Good, The Bad, and The Ugly.
Southwest Florida's a veritable boom area, but where there's boom, there's bust.
Sure, Southwest Florida's real estate industry is solidly hot. Even in the downturn of the early '90s, growth here didn't stagnate, it just slowed a little. And now, with investment trusts fattened by a high-calorie stock market, with NAFTA and the concept of clustered developments opening lands far and wide, and with perennially high growth rates, real estate looks better than Wendy's stock in the early '70s.
A plethora of opportunity awaits business along the U.S. 41 corridor between Fort Myers and Naples.
With a burgeoning growth rate of almost 20 percent from 1990 through 1996, Bonita Springs is in the midst of major expansion.
Lee Real Estate Strong in 1997, 1998
But could slow in 1999
The Fifth Annual Guardian Title Real Estate and Development Snapshot was held in Fort Myers last month. An evening's worth of real estate statistics indicated that Lee County's building boom maintained its furious pace throughout 1997.
Pine Ridge Road, Naples
The Gateway to Naples
Perhaps no road in Naples leads to more density in terms of residential and commercial units than Pine Ridge.