MARKET NEWS

Real Estate

Gates D'Alessandro & Woodyard reported the following:

Bob's Barricades, Inc. leased 9,450 square feet for their barricades and temporary traffic control business in Bayshore Road Industrial Park at 17610 East St., North Fort Myers for seven years from IAD Capital Corp. John Kremski handled the transaction.

AGT Construction Services, Inc. and John M. Thomas and Arlene Garlick leased 1,400 square feet for their construction business and related office use in Metro Commerce Park, Units 9 &10, at 12165 Metro Parkway, Fort Myers for three years from S. Lee Crouch, Trustee of the Lola M. Crouch Trust. John Kremski handled the transaction.

Just G 224, Inc. leased 7,500 square feet at 11901-11905 N. Tamiami Trail, Naples, for three years from Bernardo Naples Properties. The use is to be determined at a later date. Thomas E. Woodyard handled the transaction.

Horizon Care Services, Inc. leased 518 square feet of office in Pinebrook Park Complex, Suite 242, at 12995 S. Cleveland Ave., Fort Myers for one year from Harry M. Lowell. Todd P. Holman and Steve Wood handled the transaction.

Land People, LLC purchased a 3,000 square-foot warehouse/office building at 923 NE 24th Lane, Cape Coral, from Bridge City Excavators, Inc. for $675,000. John Kremski and Doug Steele negotiated the transaction.

The Sands Commercial Group with VIP Commercial TCN Worldwide announced the following transactions:

Fort Myers Pregnancy Center has leased 1,100 square feet of office space at 3822 Broadway from Los Gatos Amores, LLC. Paul Sands and Tiffany Martin of VIP Commercial TCN Worldwide represented the tenant and Van Deems of Phil Deems Real Estate represented the landlord.

The RE/MAX Realty Group Commercial Division reported the following transactions:

Diversified Welding and Machine sold their 2,600 square foot industrial building at 1904 Honda, Fort Myers, to Marino Landscaping for $325,000. The sale was brokered by Jim McMenamy and Stafford Leflett of RE/MAX Realty Group Commercial Division.

Colliers Arnold Commercial Real Estate Services reported the following local transactions:

Sylvan of Charlotte County LLC renewed their lease with S. K. Properties for 2,053 square feet of retail space in Murdock Plaza, located at 1700 Tamiami Trail, Port Charlotte. Karl Lippek of Colliers Arnold negotiated the transaction.

Beauty Systems Group, LLC d/b/a Cosmoprof leased 1,500 square feet of retail space in Park Meadows Plaza North, located at 1939-41 Park Meadows Drive, Fort Myers, from C. Allen Colley Trust. William Mankin of Colliers Arnold represented the landlord. Pam Pitre of Retail One represented the tenant.

Bilzin Sumberg attorneys Carey A. Stiss and Mary Margaret Langton represented Merrill Lynch Capital in the negotiation and structuring of a $29 million construction loan. The loan will fund the site development and construction of two office buildings, totaling 140,077 square feet of space, located in the Forum Office Park in Ft. Myers, Florida.

CB Richard Ellis, Fort Myers-Naples announced the following real estate transactions:

Fifth Third Bankcorp has purchased 1.26 acres located at the Publix Center at US Hwy 301 and Chin Rd in Naples, from North American Properties for $1,850,000. Larry Foster and Bill Young, both of CB Richard Ellis, Ft. Myers-Naples brokered the transaction.

Bonita Springs LLC has purchased 1.19 acres Bonita Beach Rd, Home Depot outparcel, located at 11900 Saradrienne Lane in Bonita Springs, from James Chisholm for $1,606,928. Fred Kermani of CB Richard Ellis, Ft. Myers-Naples represented the seller and Mike Daly of Compass Realty Advisors, Inc. represented the buyer.

AmSouth/Regions Bank has purchased 1 acre at the Gulf Coast Town Center, located at 9903 Gulf Coast Street in Estero, from CBL & Associates Properties, Inc. Allen Molin, Gary Dewey and Dave Conn, all of CB Richard Ellis, Ft. Myers-Naples brokered the transaction.

Allegiance Security Group, LLC has leased 2,876 square feet of office space in the Metro Park Business Plaza located at 4100 Center Point Drive, in Fort Myers from Citec Florida, LLC. Randal L. Mercer and Enn Luthringer, both of CB Richard Ellis, Ft. Myers-Naples brokered the transaction.

Bath Décor USA LLC has leased 2,700 square feet of space, located at the Metro ARC Business Park in Fort Myers, from S & M Estates NSA Inc. Scott Miller of CB Richard Ellis, Ft. Myers-Naples represented the Tenant and Marybeth Cangiano of Land- Quest represented the Landlord.

Construction

Owen-Ames-Kimball Company has completed construction of the Canterbury Upper School campus. The expansion includes several new buildings and complete site work. A two-story 37,173- square-foot classroom building, a one-story 4,550-square-foot music/ drama building, a one-story 2,525-square-foot administration building and a separate fire pump building were added to the west 22 acres of the already established campus. The new classroom building includes a lecture hall and physics, art, chemistry, biology and general science laboratories. The music/drama building has sound-proof practice booths. This is the largest addition to the Canterbury campus in its 43-year history. The construction team for OAK consisted of C. Burton Adams, Gene Carr and Frank Laino as project site superintendents, Ken Gentry as project manager and Dave Dale as the vice president of operations and general superintendent.