47-year-old Fort Myers retail plaza sells for $4.8 million

Naples/Fort Myers/Charlotte

Double dealing: A Fort Myers shopping center has sold. The 20,000-square-foot retail plaza is at 12125 S. Cleveland Ave. The buyer is DCD Partners, which paid $4.8 million. The Fort Myers LLC’s address in the state’s Division of Corporation’s database matches that of Fort Myers-based CRS Roofing and its manager is David Crowther, who is the roofer’s president and founder. The property was previously owned by another local LLC, Cleveland Crystal Plaza. It paid $3.29 million for the center in 2020. According to a profile on the industry website crexi.com, the center was built in 1977 and sits on 1.98 acres. Dannielle Robinson of Colliers represented the buyer. Alex Henderson, Max Molloy and Sawyer Gregory of LSI Co. represented the seller. Fort Myers-based LSI also announced another sale last week: a 2,440-square-foot industrial property at 6145 Lee Ann Lane in Naples. The buyer was a Naples investor who paid $1.07 million for the property. LSI’s Eric Edwards brokered the deal.

Granting housing: The Collier County Foundation has awarded a housing advocacy organization $95,760 in grant money. The money is going to The Housing Alliance, a nonprofit that “provides information, education and advocacy for accessing and developing attainable housing solutions” in the county. According to a news release announcing the three grants, the money will be used to support workforce housing stabilization, a Housing Navigator program and fundraising consulting services. The Housing Alliance is a private nonprofit that is funded by the Collier County Community and Human Services Division, private donations and the foundation. 

The foundations awarded the organization:

• A $50,000 community impact grant to create a Workforce Housing Stabilization Loan Fund program. 
• A $30,000 program grant was awarded to the alliance’s affiliate, HELP, to support its Housing Navigator Program. 
• A $15,750 community impact grant was awarded to employ a professional fundraising consultant to develop a comprehensive fundraising strategy. 

Tampa/St. Petersburg/Pasco/Polk

Image courtesy of The Ross Realty Group

Housing happenings: An LLC sharing an address with the Daytona firm Jobalia Development Group has bought 6.7 acres in Hillsborough County. The property is made up of two parcels at 10024 and 10026 Davis Road in Temple Terrace. According to The Ross Realty Group, which announced deal, the buyer is an LLC named JDG Davis Road. It paid $1.08 million. JDG, according to state records, shares an address with Jobalia Development and is connected through two managing entities to Anand Jobalia, the firm’s CEO. According to Jobalia Development’s website, it is a developer of residential communities and commercial properties. Its work includes residential projects across the state including the 177-lot Driftwood Bay in Part Charlotte and the 99-lot Bay Street in Sarasota County. Ross says the firm plans to build a single-family home subdivision on the property. Elliot M. Ross, Ross Realty’s president, represented the seller, TBX Enterprise. Michael Schuh of State Street investment represented JDG Davis.

A lot of beans: Savage Coffees, a Panamanian coffee producer and roaster, is buying a retail space in The Nolen, a luxury condominium tower in St. Petersburg. The ground floor space is 2,091 square feet, and Savage is expected to open next year. Terms of the deal were not included in a statement announcing the sale. Savage was founded in 2016 by Jamison and Leslie Savage and grows its coffees mostly at Finca Deborah near Volcan, a town in northern Panama. The company also uses three other nearby farms, according to its website. The statement announcing the sale says that the St. Petersburg shop will be the company’s first in the United States. The Nolen is a 23-story tower under construction in downtown St. Petersburg on Fourth Ave NE just off of Beach Drive. It has 31 units. 

Sarasota/Manatee

Photo by Andrew Warfield

Hotel happening: A new 125-room, select service hotel is being proposed for three buildings on the south side of the 1500 block of Fruitville Road in downtown Sarasota. According to the Sarasota Observer, a sister paper of the Business Observer, developer Florida Holdings LLC, which lists an address in Brooklyn Park, Minnesota, plans to build a nine-story Tempo Hotel, a Hilton brand, on parcels at 1524, 1534 and 1542 Fruitville Road. Those parcels currently have single-story-businesses with a combined floor area of 9,919 square feet. Businesses in those storefronts, at an end of Fruitville leading into one of the busiest traffic circles in Sarasota, include an interior design and home furnishings studio and an antiques store. The project had its first appearance before the city’s Development Review Committee Dec. 4. Because the property is in the Downtown Core zone district, it will not require approval of the City Commission.

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