MARKET NEWS
Construction
Bonita Springs-based Heatherwood Construction has begun renovating the amenities at Contessa at Bay Colony. The builder will renovate the existing pool deck, social terrace and porte cochere, and add new landscaping and fountains. Bay Colony is a private planned community within Pelican Bay, located at 8111 Bay Colony Drive. Bay Colony's 225 acres consists of single-and multi-family homes surrounded by mangrove forests, the Gulf of Mexico and adjacent to the Ritz-Carlton, Naples. Hector Vidal of Heatherwood Construction is serving as senior project manager, and Greg Little is serving as job superintendent. Richard Tindell of JRL Design provided architectural design services. The project is expected to be complete January 2008.
CC Turner Inc. has been awarded the Entry Feature at Portofino at Miromar Lakes. Portofino is a London Bay Homes development which will consist of 20 luxurious homes, cobblestone streets and quaint plazas, reminiscent of romantic European villages.
Lennar Homes has awarded J.L. Wallace Inc. a contract to build a clubhouse at River Strand Golf and Country Club in Heritage Harbour, located on Grand Estuary Trail in Bradenton. The 39,750-squarefoot clubhouse will be the focal point of the River Strand development. Plans call for a full-service restaurant and bar, a complete kitchen, a card room, a billiard room, golf and tennis pro shops, a snack bar, a fitness center and aerobics room, a locker room and golf cart and bag storage. The project also includes more than 4,000 square feet for a swimming pool, resistance pool and spa. David Grossman of J.L. Wallace will serve as project manager, and Robbyn Spears will be project manager assistant. Jim Ruby will serve as superintendent. Fawley Bryant Architects Inc. provided architectural design services.
Brooks & Freund has begun construction of the condominium offices at Borgata Square, a Class A office building located at 2580 North Brook Plaza at the intersection of I-75 and Immokalee Road. The three-story 28,485-square-foot building will encompass 24 office suites. Individual suites range from 695 to 1,256 square feet. Jack Fichter of Brooks & Freund is the project manager, and Rusty Martin is the job superintendent. Richard Lee Wu provided architectural design services. Construction is expected to be complete in February 2008.
McGarvey Development has completed construction of the first of four office buildings at the Mid Cape Corporate Center, an office and industrial business park on Pine Island Road in Cape Coral. The building is the first Class A office facility offered for lease along the emergent Pine Island Road commercial corridor. The three-story building has 68,655 square feet of customizable office space with units starting at 2,000 square feet. Features include impactresistant glass, back-up emergency power and spacious lobbies with professionally designed finishes. The Mid Cape Corporate Center also offers a park-like landscaped setting with lakefront views. In addition to the four office buildings, the Mid Cape Corporate Center also includes three flex distribution buildings, totaling 102,000 square feet. McGarvey Development also built the Cape Coral Charter School adjacent to the 30-acre corporate center.
Real Estate
The Sands Commercial Group with VIP Commercial TCN Worldwide announced the following transactions:
Mike and Andrea Kolodny have sold their 4,079 square-foot warehouse building located at 616 NE 10th Avenue, Cape Coral to Robert D. Haley, Jr. of Cape Coral. The buyer owns a window replacement and remodeling services company. The purchase price was $585,000.00. Paul Sands and Tiffany Martin of the Sands Commercial Group with VIP Commercial TCN Worldwide represented the Seller. The buyer was represented by Russell Winstead of Tropical Island Realty of Florida.
CB Richard Ellis, Fort Myers-Naples announced the following real estate transactions:
• Dominion Enterprises has renewed their leased 3,750 square feet of industrial space in Metro Distribution Center located at 4040 Warehouse Road, in Fort Myers from BLS Holdings, LLC. Stan Stouder of CB Richard Ellis, Ft. Myers-Naples brokered the transaction.
• Dollar Store has leased 1,501 square feet of retail space in Wilson Plaza located at 60 Golden Gate Boulevard, Naples from Gulf Stream Retail Investments, LLC. Larry Foster, Glenda Fortune, Dan O'Berski, and Bill Young, all of CB Richard Ellis, Ft. Myers-Naples represented the landlord and Felix Inglesias of Sun Realty represented the tenant.
