Real Estate Briefs

Real Estate Briefs

Sarasota/Manatee

Developer buys land for Enclave at Bay Isles

BUYER: Enclave at Bay Isles LLC, Sarasota

SELLER: Bay Isles Development LLC

PROPERTY: 594 Bay Isles Road, Longboat Key

PRICE: $3.25 million

PREVIOUS PRICE: $1.9 million, May 2004

LAW FIRM ON DEED: Levin Tannenbaum Band Gates & Pugh PL, Sarasota

PLANS, DESCRIPTION: Enclave at Bay Isles LLC, headed by Sarasota developer Mark Miller of Westwater Construction Inc., has purchased 3.7 acres on Longboat Key. Miller says the development group plans to build 12 high-end condominium units on the site. He expects to break ground in the next three to four months.

Enclave at Bay Isles mortgaged the property to Gold Bank for $12.4 million. Miller's Westwater Construction will construct the new development.

Homes by Towne

planning Buckeye development

BUYER: HBT of Eagle Pointe LLC, Milwaukee, Wis.

SELLER: McClure Properties Ltd.

PROPERTY: 10003 and 10403 Buckeye Road, 8670 Moccasin Wallow Road and additional property

PRICE: $28 million

PREVIOUS PRICE: $332,300, November 2001, $327,000, December 1995, $571,500, November 2000 and additional property

LAW FIRM ON DEED: Schofield and Spencer PA, Bradenton

PLANS, DESCRIPTION: Home builder Homes by Towne, a Zilber Ltd. company, has purchased 700 acres east of Interstate-75, near Buckeye Moccasin Wallow and Center roads in Northern Manatee County.The unnamed community is currently envisioned as 1,000 to 1,300 single family homes with walking trails, a clubhouse and baseball fields.

The purchase prices break down to $40,000 per acre.

Homes by Towne mortgaged the property to the former owner for $21 million.

Sarasota motel purchased,

renamed Hibiscus Suites Inn

BUYER: Hibiscus Suites LLC and Hibiscus Suites II LLC, Sarasota

SELLER: Islander Apartments LLC

PROPERTY: 1725 Stickney Point Road, Sarasota

PRICE: $1.7 million

PREVIOUS PRICE: $950,000, October 2001

LAW FIRM ON DEED: Saba & King LLP, Sarasota

PLANS, DESCRIPTION: Hibiscus Suites LLC and Hibiscus Suites II LLC have purchased the former Islander Apartments and renamed it the Hibiscus Suites Inn. The new owners have repositioned the 16-unit motel as "the bridge between the Sarasota mainland and Siesta Key." The hotel was fully renovated in 2005.

The new owners mortgaged the property to Century Bank for $700,000.

Sarasota County buys

land on Cattlemen Road

The Sarasota County Commission has approved the purchase of 11.22 acres adjacent to its 1301 Cattlemen Road complex from Delaware-based Mictron Inc. for $6.3 million.

The property includes two buildings. The county leased space in one of those buildings from 1997 to 2001 for the Public Works Road Program offices. Planning and Development Services currently is the main occupant of the adjacent county-owned facility at 1301 Cattlemen Road.

County officials are still considering their options for the additional property. The facilities services department has suggested that the site could be used to relocate staff from Public Works and Environmental Services, bringing those business centers to a single campus with Planning and Development Services. Public Works is currently at 1001 Sarasota Center Blvd., off Fruitville Road, and Environmental Services is located at that building and at 2817 Cattlemen Road.

Etc...

• The Vernon Group has named four homebuilders for the 178 estate-sized Rive Isle, a gated island community in Parrish. Preferred homebuilders in the community include: John Cannon Homes, Pruett Homes, Arthur Rutenberg/Bob Wilson Custom Homes and Lee Wetherington Homes. All four builders are slated to start construction of models and spec homes, valued at more than $1.5 million each, within the next four months. Rive Isle features 149-foot "harbor" home sites, 27-foot "preserve" homesites and 156 boat docks.

• The Sarasota County Commission awarded contracts totaling more than $1.9 million to replace the Caspersen Beach Bridge and to make accessibility improvements to the Venice Avenue Drawbridge.

Lucas Marine Construction Inc. of Stuart was awarded a $1.36-million contract to replace the short-span bridge, which connects Harbor Drive to a spoil island east of Caspersen Beach. At more than 50 years old, the current bridge is at the end of its design life. The new bridge will be extended slightly to 33 feet, and widened to accommodate a sidewalk on the south side.

Aside from the addition of a sidewalk, the project includes the replacement of seawalls under the bridge and aesthetic improvements. The contract calls for substantial completion within seven months. Funding will be provided by the penny sales tax and gasoline taxes.

The county also awarded a $576,294 contract for work on the Venice Avenue Drawbridge to Lovin Construction Inc. of Bradenton. The county rehabilitated the bridge under a major construction project completed about a year ago.

Among the improvements to the bridge under this contract is an enhanced pedestrian access through the addition of stairs, pedestrian traffic gates and ramps that are in compliance with the Americans with Disabilities Act.

• Taylor Woodrow Homes has completed its purchase of about 80-acres near the intersection of US 41 and Stickney Point Road in Sarasota from the Clyde H. Wilson Jr. Family Trust. The land is zoned for as many as 360-units and Taylor Woodrow is expected to build a mix of 2-story townhouses and condominiums, as well as detached courtyard homes that fit within the existing zoning.

Taylor Woodrow will develop the site and build all of the homes. A central clubhouse, an exercise room and a pool will anchor the community. Taylor Woodrow expects to start sales in early 2007, with models to open in the fall of 2007.

The land has been in the Wilson family's hands for the past more than 50 years, and has been maintained as cattle pasture since the 1950s.

Lee/Collier

Naples developer buys land in south Lee County

BUYER: Wayside Industrial Inc.

SELLER: Alico Enterprises LLC

PROPERTY: Land on Alico Road in Lee County

PRICE: $43.7 million

ATTORNEY ON DEED: Garlick, Stetler & Peeples LLP

PLANS, DESCRIPTION: Naples-based developer Wayside Industrial bought 127 acres on Alico Road near Interstate 75 in south Lee County. "We're going to develop some of it and sell some," says Hank Sullivan, the company's chief financial officer.

Wayside already has resold four parcels totaling 45 acres to several undisclosed buyers. It also plans to develop about 40 to 50 acres for its own use. Sullivan says development on some buildings could start within a few months, depending on permitting. Users may include gas service stations and banks. Wayside may also develop flex buildings that have a combination of warehouse and office space.

Wayside Industrial mortgaged the property to Alico Enterprises for $32.2 million.

Investors buy marina

on Caloosahatchee River

BUYER: Alva Shores LLC

SELLER: Suzanne and Jack Lyons

PROPERTY: 2200 Marina Park Drive, Fort Myers

PRICE: $6.5 million

TITLE AGENCY ON DEED: Executive Title Insurance Services, Lehigh Acres

PLANS, DESCRIPTION: Fort Myers-based investment partners John King and Scott Robertson bought 13.5 acres of waterfront commercial land near State Road 80 and Old Olga Road in Lee County.

The land includes a marina called Jack's Marine and it has 18 rental boat slips on the Caloosahatchee River, as well as room for about 70 boats. "We bought it to continue running the marina," says King, former general manager at MarineMax boat dealership in Fort Myers. Meanwhile, sellers Jack and Suzanne Lyons will continue to live in the single-family house located on the property, King says.

Alva Shores mortgaged the property to Suzanne and Jack Lyons for $5.3 million.

Michigan developer buys

land in Lee County

BUYER: Kimberly Estates Mobile Home Park LLC and Kimberly Estates Phase II LLC

SELLER: Forteck LLC

PROPERTY: Land on State Road 82, Lee County

PRICE: $5.5 million

PREVIOUS PRICE: $1.4 million, Jan. 2004

ATTORNEY ON DEED: Shapiro, Blasi, Wasserman & Gora, Boca Raton

PLANS, DESCRIPTION: A Michigan-based company bought 1.7 acres at the corner of State Road 82 and Colonial Boulevard in Lee County. Property records show a CVS pharmacy is located on the site.

The address of the buyer corresponds with Lewis Klein Properties, a Southfield, Mich.-based development company. Calls to Lewis Klein were referred to Jack Friedman of Highland Management, another Southfield-based company. Friedman could not be reached for comment.

Etc...

• Samir Cabrera, 13701 Fiddlesticks Blvd LLC, bought 9.4 acres at 13701 Fiddlesticks Blvd. in Fort Myers from STR & Associates LLC for $4.8 million. Kevin Rosenthal, Don Turner and Samir Cabrera of D'Alessandro & Woodyard negotiated the transaction.

• Twin Homes of Lehigh LLC bought 20 duplexes in Lehigh Acres from Lawrence and Trudy Partridge and Frank D'Alessandro for $3.8 million. Tim Colen and Tom Woodyard of D'Alessandro & Woodyard negotiated the transaction.

• Robert Campbell of Concordia Development LLC bought 4.11 acres at 11261 Summerlin Drive in Fort Myers from Ed Cassavell for $2.4 million. Frank D'Alessandro and Tom Woodyard of D'Alessandro & Woodyard represented the seller. D.F. Mahaney of D.F. Mahaney Realty represented the buyer.

• 107 Frederick Street LLC bought an industrial condominium unit at Enterprise Design Center at 3435 Enterprise Ave. in Naples from FOCD LLC for $700,000. Preferred Properties International Inc. represented the buyer and Scott Dunnuck, George Atkinson and Ryan Baum of CB Richard Ellis represented the seller.

• Shamrock Properties LLC awarded Fort Myers-based Stevens Construction the contract to build a 13,128-square-foot office building at Benchmark Corporate Park in Fort Myers. Groundbreaking is scheduled for March and the company plans to complete the building in September.

• The D'Jamoos Group of Naples plans to start selling 48 homes at Andalucia, a gated community on Whippoorwill Lane in Naples. Homes will cost from $400,000 to $800,000.

• J.L. Wallace has started building Pine Key Condominiums at 1050 and 1055 Hancock Blvd. in Cape Coral. The development consists of seven buildings, with eight condos in each one. Each condo will be 1,210 square feet. Wallace is scheduled to complete the $6.3 million first phase of the project in August.

• Kimball Hill Homes is starting pre-sales of 167 single-family homes, coach homes and villas at Terra Vista, a community located off U.S. 41 and Broadway in Fort Myers. Prices start in the $300,000 range.