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GULF COAST

APRIL 27 - MAY 3, 2012

Business Review

THREE DOLLARS

FIRST UP:

ON DISPLAY:

STORY ON PAGE 22

Franklin Street seeks another year of doubledigit growth.

ON PAGE 10 A marketing company taps nearby firms to meet its clients’ special requests.

For this executive, flying is more than transportation. It’s a passion.

WRIGHT ON TRACK

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SHARING THE LOVE

Companies • Trends • Entrepreneurs • CEOs

Flying High

The Weekly Newspaper for Gulf Coast Business Leaders

Neal Knapp helps entrepreneurs around the world launch craft breweries.

PAGE 12 Brian Tietz

GULF COAST BUSINESS BUZZ

+ Airport traffic softens

You’d never guess it from the traffic on the roads in March, but airport traffic on the Gulf Coast has been surprisingly soft. In March, for example, passenger traffic at Southwest

a year ago. “It really tempers the growth,� says Carol Obermeier, director of aviation market development for the Lee County Port Authority. She says that if flights aren’t at least 90% full, airlines won’t hesitate to move planes to busier routes. “That’s what all the airports are seeing right now,� she says. Thankfully, the hotel industry has seen rising occupancies, so people are getting to the Gulf Coast by car if they’re not flying. Perhaps that explains the congestion.

+ Partnership creates optimism downtown

One of the most prominent commercial real estate properties in downtown Sarasota is primed to become a high-end restaurant and special event venue. The property, on the ground floor of the city’s new Palm Avenue parking garage, is a partnership between two well-known local entrepreneurs: Jesse Biter, who sold a $16 million auto sales software firm in 2010, and Steve Seidensticker, who co-owns Libby’s, a restaurant in Sarasota’s

Southside Village neighborhood. The new eatery is so far unnamed, but Seidensticker says it will be a restaurant and bar concept, and have a 400-seat venue for private functions. Several local officials have lamented the loss of a high-end event location since the University Club, atop the Bank of America building on Main Street, shut down in 2009. “We thought with the closing of the University Club there was no place for downtown events,� Seidensticker says. “It will bring a tremendous amount of life to

See COFFEE TALK on page 3

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Florida International Airport fell 4.6% compared with the same month one year ago. At Tampa International Airport, domestic traffic fell about 1.3% in the same month. (March figures for Sarasota-Bradenton International Airport weren’t available at press time.) Blame it on airline consolidation and higher fuel prices, which have shrunk the number and size of planes flying here. At the Fort Myers airport, for example, takeoffs and landings were down 6% in March compared with the same month

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www.review.net The Gulf Coast Business Review is Southwest Florida’s newspaper for business leaders. With offices in Hillsborough, Pinellas, Pasco, Manatee, Sarasota, Lee and Collier counties, the Review is the only weekly business newspaper that provides business leaders, entrepreneurs, CEOs and investors with a regional perspective. The Review’s mission is to deliver relevant news and information on Southwest Florida’s leading and growing companies, up-and-coming entrepreneurs and the important economic, industry and government trends affecting business. The Business Review is also the leading publisher of public notices on the Gulf Coast of Florida.

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the area.� That’s what Biter has longed to do for several years in Sarasota, his adopted hometown. A Pennsylvania native, Biter has started several businesses since he sold his company, HomeNet. The ventures include Dealers United, a nationwide network of auto dealers that have combined buying power with vendors, and an expansion of the Hub, a startup business incubator. Biter bought the Palm Avenue space, 11,000 square feet, from the city of Sarasota last year for $1.6 million. He recruited regional and national chains — sophisticated offerings in sync with the art galleries that line Palm Avenue. Biter also sought a ‘wow’ factor tenant, a lively place that’s open past 9 or 10 p.m. But several potential deals for restaurants and boutiques fell through, says Biter. Then, earlier this year, Steve Horn, a commercial real estate agent with Ian Black Real Estate in Sarasota, introduced Biter to Seidensticker. The pair shared a desire to redefine the block on Palm Avenue. So much so that Biter gave up full ownership of the property. He will still maintain oversight and financing, while Seidensticker will handle the logistics of build-out, staffing and other day-to-day functions. The restaurant could be open by November. “More than anything, I want this property to be successful,� Biter tells Coffee Talk. “I’m willing to sacrifice my ownership to do that.�

+ Economic development: attraction or retention?

One question always dogs economic development organizations: Should they exist to help existing businesses grow or attract competing businesses to an area? Sometimes, that issue is so divisive that it can lead to an economic development organization’s collapse. For example, the Economic Development Council of Collier County dissolved last year after it failed to secure millions of dollars in incentives for a genetics-lab facility that some Naples entrepreneurs opposed. Now, under the auspices of the Greater Naples Chamber of Commerce, various business interests and county government officials are exploring what other Florida counties do. They commissioned Hodges University to survey 11 similar counties that have economicdevelopment programs, including Lee

40 UNDER 40: WHERE ARE YOU NOW?

3

Full-Service Commercial Real Estate Solution

For more than a decade, the Business Review has selected 40 people under the age of 40 whom it believes will be the region’s future business leaders. This year, we’re calling for a reunion. The Business Review will hold three networking receptions in October to honor the 2012 40 under 40 winners and reunite winners from previous years. To make the most of this opportunity, we are collecting information from past winners for an alumni directory, which will be available for attendees at the events. If you are one of our 40 under 40 winners, let us know what you’re up to by updating your contact information at: surveymonkey.com/s/40under. To connect online, you can also join our alumni group by searching for “40 Under 40 Awards� on LinkedIn. So don’t be shy ... and stay tuned for further opportunities to network. and Sarasota. One revealing detail: While all economic-development groups say they try to help local businesses and attract new ones, only the Tampa Hillsborough Economic Development Corp. devotes more staff to attracting outside businesses to the area. Most economic development groups, including the Lee and Sarasota organizations, devote a larger percentage of staff to helping existing businesses grow. According to the Hodges survey, the Tampa EDC devotes 70% of its staff resources to attracting outside businesses to the area and spends 80% of its funds on that mission. The only other organization that comes close to that is Miami’s Beacon Council, which devotes 50% of its staff and 60% of its funding to attracting outside businesses. The researchers at Hodges offered no analysis for the survey findings and aren’t making any recommendations. But Collier County seems to be doing fine without its EDC because the area posted some of the strongest employment gains on the Gulf Coast on an annual-percentage basis (see Economic Snapshot below.)

See COFFEE TALK on page 5

ECONOMIC SNAPSHOT

GULF COAST EMPLOYMENT MARCH EMPLOYMENT Area Employment Naples-Marco Island 118,800 Tampa-St. Petersburg-Clearwater 1,149,600 North Port-Bradenton-Sarasota 244,500 Cape Coral-Fort Myers 205,900 Punta Gorda 41,400

Annual Change 2% 1.8% 0.9% 0.1% -2.6%

What it means: While employment has rebounded in most areas of the Gulf Coast, Source: Florida Legislature Office of Economic & Demographic Research there continues to be some labor-market weakness in areas such as Punta Gorda and ness services, education, health, leisure Fort Myers. Statewide, employment grew and hospitality. However, in a sign that it 1.2% in March on an annual percentmay take longer for age-change basis and only the Naples some areas of and Tampa areas exceeded that growth. the Gulf Coast Tampa and Miami generated more than to recover, the half the number of new jobs in the state construction inover the past year. Employment in Tampa dustry’s employrose by 20,200 compared with March ment continued 2011. to shrink in March. Forecast: Momentum is now on the side of employment growth statewide. March was the 20th consecutive month of annual employment growth after the state lost jobs for three years. Industries gaining the most jobs include trade, transportation, utilities, professional and busi-

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What the data show: Total non-agricultural employment estimates in the major areas of the Gulf Coast in March. The data are not seasonally adjusted.

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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GULF COAST WEEK

Furniture retailer expands Clive Daniel Home, the furniture retailer launched by the Lubner family that once controlled Robb & Stucky, plans to expand to Boca Raton. Father and son Clive and Daniel Lubner opened the first Clive Daniel Home showroom in Naples last year and the Boca Raton showroom will be the company’s second location. The Lubners grew Fort Myers-based Robb & Stucky into a

REGIONAL BUSINESS NEWS AT A GLANCE

CHARLOTTE-LEE-COLLIER Arthrex breaks ground

Naples-based Arthrex recently broke ground on a $25 million manufacturing plant in eastern Collier County, where it plans to manufacture surgical devices and implants for orthopedic surgeons. The company is building the first phase of the project that measures 190,000 square feet, roughly the size of three football fields. Completion of the first phase is scheduled in spring 2013. Arthrex says it will build another 120,000 square feet within

EXECUTIVE

DECISION Are you counting on Social Security to help you retire? To vote in this week’s poll, visit: review.net/decision Results from last week’s poll: What grade would you give the Florida Legislature this session?

B C D F

one to examine the effectiveness of recruitment incentives.

Container Store to open

The Container Store, a specialty retailer headquartered in Coppell, Texas, will open its first location in Tampa as the anchor tenant of a new 35,000-squarefoot retail center on Westshore Boulevard. Aventura-based real estate company Saber Corner LLC will develop the project, called the Corner, at Westshore and Boy Scout boulevards. According to a release, the storing and organization retailer will occupy 25,000 square feet of the property and open in early 2013. There are also plans for a 3,500-square-foot bank and an additional 6,000 square feet of retail space yet to be leased.

Home prices rise

The median price of a singlefamily existing home in the Naples area rose nearly 30% to $266,000 in March compared with March 2011, according to the Naples Area Board of Realtors. The jump in the median price was driven by a 47% increase in the number of sales of existing single-family home priced between $500,000 and $1 million. Meanwhile, the association reported an 8% drop in the number of sales of single-family homes priced below $300,000. Overall, the number of single-family existing home sales dropped 2% in March to 432 compared with the same month in 2011, according to the association.

Bell takes over Seaport

Bell Partners Inc., a Greensboro, N.C.-based real estate investment firm, closed on the acquisition of 422-unit Seaport Channelside apartments April 20. Terms of the deal were not disclosed. The complex is the first property in Tampa Bay owned and managed by Bell. The company has brought agents from its third-party management operation in Clearwater to assist in the management transition. The move into Channelside is part of the company’s plans to increase its presence in the Tampa and Orlando markets, a Bell spokeswoman says.

TAMPA BAY Tampa EDC revamps

The Tampa Hillsborough EDC 5% announced it has issued a request for proposal seeking a company 9% to redesign its website and marketing materials. The organiza27% tion has allotted $85,000 for the initiative and plans to relaunch 23% its website by Oct. 1. President and CEO Rick Homans also said the organiza36% tion will conduct two studies: one to study the work force gap and

SARASOTA-MANATEE Port approves expansion

Port Manatee officials approved a $13 million project to extend the wharf of a key ship berth area and add a 10-acre container yard. The port reached a deal with American Bridge Co. to oversee the project, which is expected to add nearly 600 feet to Berth 12. That will expand the berth to just shy of 1,600 feet, long enough to handle Panama Canal ships. A federal government grant will cover about $9 million of the project, while $4 million stems from Florida Department of Transportation funds. The project, expected to create about 240 construction jobs, could be completed by the middle of 2013.

Bank increases profits

Lakewood Ranch-based Community Bank & Co. reported a net income of $1 million for the first quarter. It’s the bank’s eighth straight profitable quarter, according to a news release. The bank also grew deposits by $94 million in

the quarter, from $558 million on Dec. 31 to $652 million on March 30. “We are off to a great start in 2012 thanks to significant deposit growth and strong loan demand,� Community Bank CEO Trevor Burgess says in the release. The bank plans to change its name to C1 Bank May 1.

Manufacturer recognized

Hann Powerboats, a Manatee County-based manufacturer, was the only Florida company featured in a federal government report of international sales success. The report, from the U.S. Commercial Service, the trade promotion arm of the U.S. Department of Commerce, highlighted a $400,000 sale Hann closed with a Nigerian company last year. Moreover, Hann went from no international sales two years ago to having exports now account for 60% of total sales, according to a news release from the Manatee Economic Development Corp. Hann Powerboats has six employees.

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three years at the same location on 21 acres donated by the Barron Collier Companies. By 2016, the company estimates the new facility will create as many as 500 new jobs.

hugely successful 28-store upscale furniture retailer until the economic downturn slashed sales by half and a bankruptc y judge ordered the company’s liquidation last year.

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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BY

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Woes continue for Tampa building owners

For an entrepreneur in the rum distilling business, acceptance from Publix liquor stores across Florida is a celebratory occasion — akin to an independent toy maker allowed to sell his wares in Wal-Mart. That’s where Troy Roberts now finds himself, at least when it comes to Publix. The founder of Sarasota-based Drum Circle Distilling, Roberts recently received news that Publix liquor stores will sell Siesta Key Rum, the distillery’s flagship product. “Publix has a lot of stores around the state,” Roberts tells Coffee Talk. “We’ve wanted to be in there for a while, but it was shut out to us.” Publix, says Roberts, is picky about what it sells, so it looks at all aspects of a product, from brand to taste to labeling. In addition to Publix, Roberts says ABC Fine Wine & Spirits intends to expand its supply of Siesta Key Rum across Florida. ABC will now sell the rum in all of its tier-one stores, which are larger outlets that offer food and alcohol tastings. A Sarasota native, Roberts left a career in software sales and Internet startups in 2007 to launch Drum Circle. He spent nearly $1 million of his own money to turn an industrial park warehouse into a rum production lab and factory. The company’s Siesta Key Spiced Rum won a Best in Class medal at the Miami Rum Renaissance earlier this month, another significant accomplishment. The competition is one of the largest in the world, and the top medal is both a source of pride and buzz. On the former, Roberts says the festival was a David vs. Goliath moment for Drum Circle, which competed against industry giants. Says Roberts: “It’s fun when a couple of guys at a folding table against the wall beat out the big guys with five-figure displays.” Roberts says the notoriety, meanwhile, goes deeper than a $50,000 ad campaign. For instance, Roberts says a Miami alternative newspaper columnist called Siesta Key Rum “the tastiest rum in the world.”

+ Williams sentencing may be delayed, again

The sentencing of former Orion Bank Chairman and CEO Jerry Williams may be delayed until June. Williams faces up to 15 years in prison after pleading guilty in February of conspiracy to commit bank fraud and making false statements to banking regulators in an attempt to save Naples-based Orion Bank. Regulators seized Orion in late 2009 and sold the assets and deposits to IberiaBank of Lafayette, La. William Sullivan, the banker’s attorney, recently filed a motion in federal court to have the sentencing delayed be-

cause he’s attending a conference on May 31, the same day Williams is scheduled to be sentenced in Fort Myers. U.S. District Judge Charlene Honeywell scheduled the May 31 sentencing in Fort Myers, giving each side two hours to present witnesses. The sentencing was rescheduled from an earlier date in Orlando to accommodate local witnesses.

+ Federal regulators seek to sack more bankers

Super Bowl-winning quarterback Jim McMahon, he of the headbands and rebel attitude, is the latest former community bank board member targeted by federal regulators. McMahon, onetime director of Chicago-based Broadway Bank, is part of a steamrolling trend: The Federal Deposit Insurance Corp. continues to sue and approve potential lawsuits against executives and board members of shuttered banks at an increasingly fast rate. The lawsuits are aimed at recovering money banks lost where the FDIC alleges some type of negligence. The trend resonates on the Gulf Coast, where more than 15 banks have failed in the recession. That leaves a high quotient of vulnerable former bankers in the region. The FDIC, just through March, has already authorized lawsuits against 96 former bankers and bank board members, according to agency data. That’s up from 98 authorizations in all of 2010. Many times a threat of a lawsuit is enough to engage settlement talks. In the case of McMahon, who has played in several charity golf events on the Gulf Coast over the last decade, the FDIC is past the authorization stage. Indeed, McMahon is one of nine people connected to Broadway Bank being sued. The FDIC alleges McMahon and the other bank directors, through “gross negligence,” authorized 17 loans that led to $104 million in losses.

+ Correction

In the April 20 story entitled, “No Reservations,” the Business Review incorrectly stated why the Seminole Hard Rock Resort & Casino is not constructing new rooms in its $75 million expansion. The Business Review should have stated: Additional hotel rooms are still part of the long-range expansion plan, according to Gary Bitner, Seminole Tribe of Florida spokesman. Bitner said: “They are not being built now because of the availability and cost of capital and the need for expansion dollars at the Seminole Casino Coconut Creek, where a $150 million expansion was recently completed.” Gary Bitner’s name also was incorrectly reported.

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+ Rum man gulps another victory

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More rough news for Tampa area erty owners. That’s because while the office building owners and landlords: rates might be down, CBRE reports The average asking lease rate conmore tenants seek longer lease terms. tinues to decline, according to a new “The typical deal is now five years,” the report from CBRE. report states, “as opposed to the oneThe Los Angeles-based commerto two-year terms seen from 2008 cial real estate services firm reports through 2010.” the Tampa region’s asking rate has So, if the money coming in is less, at dropped 11% since it peaked in 2008 least it lasts longer. at a little more than $22 a square foot. The below chart shows overall askThe overall average rate fell to $19.75 ing rates in the first quarter: per square foot in the first quarter, according to ASKING LEASING RATES FOR Q1: CBRE, which was formerly CB Richard Ellis Group. Area Class A Class B Class C The asking rate decline Tampa CBD $23 $19.41 $14.67 spreads to all classes of Westshore $26.93 $20.67 $17.28 buildings, too. Class A rates Total Hillsborough $23.63 $18.36 $15.18 fell 8% since 2008, while Total Pinellas $20.24 $15.13 $14.22 Class B is down 13% and Tampa Bay Market $22.79 $17.48 $14.60 Class C dropped 17%. *Asking rates are per square foot. CBD is the central The report, released April business district. 23, does offer a nugget of Source: CBRE hope to beleaguered prop-

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

www.review.net

Risky Education With the help of local business leaders, Rebecca White inspires Tampa’s next generation of entrepreneurs to assess — and take — risks.

W

hen Rebecca White meets students and aspiring business owners in the University of Tampa Entrepreneurship program for the first time, she presents them with a hypothetical wager. Would any of the young business majors cross Interstate 275, one of the busiest highways in Tampa, blindfolded for $1 million? Although some jokers heartily accept the challenge, most admit they would walk away from the bet. However, White then tweaks the odds by offering the same amount to do it without the blindfold. “That’s what our program is designed to do,� she says. “We want to remove their blindfolds.� However, raising the next crop of students to be savvy risk-taking entrepreneurs has been a challenge for White, who co-founded a campus security firm in 2006 while building a similar entrepreneurship program at the University of Northern Kentucky. The odds of launching a successful venture, according to the U.S. Small Business Administration, are 5050. Statistics show that half of startups fail by their fifth year after incorporation. Adding to this White’s challenge could be this generation’s natural inclination to avoid risks. A recent study by Investment Company Institute, a Washington, D.C.based organization of investment firms, shows members of Generation Y are less likely to take financial risks than their parents or Generation X.

To change the risk-averse tendencies of potential and current students, White has tapped the Tampa Bay business community for help. As a board member of Tampa-based lender NorthStar Bank, among other positions in the community, she has created a pipeline of successful Tampa entrepreneurs, such as John Sykes, the namesake of the school’s Sykes College of Business, to share their stories and challenges with students. “We try to spend time reframing the way these young men and women look at risk,� White explains. Another business world success story White recruited is Marty Schaffel, the executive chairman of the $500 million audio-visual firm AVI-SPL Inc., who teaches a class in White’s program. “When I met him he said that he always wanted to teach a class on entrepreneurship,� White says. “But he’s a University of Florida alumni and that was too far to drive.� Mark Wemple The program’s connection with the region’s Rebecca White is a management professor and the James W. Walter private sector has proven fruitful. When White Distinguished Chair of Entrepreneurship at the University of Tampa. arrived at UT in August 2009, the program had five students. Now it boasts more than 70. “We actually had to move our meetings into the largest other. “You would be amazed at the business plans our students come up with,� White says. room in the psychology building,� White says. “We have a lot of wins,� White says of the flourishing And in roughly two years heading the program, several companies have come from her tutelage. In fact, startups she has mentored. As she gathers her things Inc. Magazine recognized one of her former student’s to rush from the 38th floor of One Tampa City Center back to campus to teach, she gives an elevator pitch for ventures, BetterBoo.com., as the “coolest startup.� Taking a cue from the O. Henry short story “The potential entrepreneurs who aren’t in the program. “EnGift of the Magi,� founder Nick Chmura designed the trepreneurship is all about people and timing.� —Alex Mahadevan website to help with gift ideas for someone’s significant

FIRST UP

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“

Rebecca White, University of Tampa: “Entrepreneurship is all about people and timing.�

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

www.review.net

Dean of Industry

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Rather than scaling back, at 74, Stanley Dean says he’s not done working as he forges ahead with growing his business. Stanley Dean, 74, has an answer at the ready when anyone questions his refusal to retire. “Why should I tell my company to quit sending me a paycheck?” asks Dean. “I love what I do.” Still, Dean is clearly in exceedingly rare company, a legitimate throwback in a demanding and high turnover business. He’s been an insurance agent or manager with State Farm since 1971, first in his native Alabama, and since 1984, in Florida. Even more remarkable: Dean recently expanded his Venice-based State Farm business, when he was one of a handful of agents nationwide chosen by Bloomington, Ill.-based State Farm to open a second location. Dean expanded with youthful exuberance. In February he bought a 3,368-square-foot building in St. Petersburg, a few miles north of the Skyway Bridge, to house the new office. He paid $516,500 for the property, a onetime Colonial Bank branch built in 2007, according to Pinellas County property records. Dean also hired two new agents, including one who will be the St. Petersburg office manager.

“I don’t know what I’d do if I retired,” says Dean. “I’ve never even thought about retirement.” State Farm has traditionally allowed agents to run only one branch, but it launched a test program for individual agents nationwide to expand earlier this year, spokeswoman Michal Connolly says. Agents had to submit long-term business plans to get the goahead. The offices Dean runs have 13 employees and sell the full gamut of State Farm products. With the state of the current property insurance market in Florida, that means he’s selling a lot of auto policies these days. Dean splits his time between the Venice office and the St. Petersburg location. He works most days with Oliver, his curly white bichon frise dog, at his side. State Farm financial representative Tracey Ganner, who is also Dean’s de facto top manager, is blown away by her boss’s work ethic. She tries, but normally fails, to beat Dean to the office. “He’s the first one in and the last one to leave,” says Ganner. “His mind is always engaged in the business.”

FIRST UP

Mark Wemple

Stanley Dean recently expanded his State Farm insurance business from one location in Venice to a second office in St. Petersburg. Dean, 74, has no plans to retire. But while Dean might look the part of distinguished insurance salesman, it’s a business he got into mostly by accident. A veteran of the U.S. Marines, Dean intended to become a college chemistry professor after he graduated from the University of Alabama. After college, however, Dean took a job as a chief chemist for a cement plant. He never pursued his professorial dreams again. “Once you make good money,” says Dean, “it’s hard to go back to being starving, which is what I would have had to do to be a Ph.D.” In 1971 Dean gave insurance a try. He

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

Skinny Profits www.review.net

Linda Berson became a vegan after her husband underwent heart surgery. Now, through her book and a blog, she wants to make good nutrition easy for others.

H

ere’s a secret about the diet publishing business: You don’t make money by selling books. The profitable part of the diet business is speaking fees and advertising on your blog, says Linda Berson, author of “Green Scene Diet.” She’s learned this as part of her mission to improve her own health and that of her husband, Buz Berson, who had open-heart surgery to unclog a coronary artery in December 2007. The Bersons were successful residential real estate executives who sold their Charlotte County brokerage firm to Century 21 in March 2007, just nine months before Buz’s surgery. After that near-fatal event, Linda Berson researched all she could about nutrition and health. The result: She became a vegan, giving up all animal food products in favor of plants. “I decided we were

“

“

FIRST UP

There’s money to be made in the diet business. But how do you break out from the crowd? Linda Berson, author of Green Scene Diet: “We’ve healed people in our lives.”

going to live in the solution,” she says. “I knew nothing about nutrition and didn’t cook.” A tenacious and successful saleswoman who earned enough money from photocopier sales to buy her first Mercedes a year after graduating college, Linda Berson started handing out notebooks filled with vegan information to close family and friends. She estimates she put together 100 such notebooks and was encouraged to write a book. Berson says the material on the subject

is scattered, and many authors today are doctors who don’t consider whether the food actually tastes good. What’s more, these books are often too clinical to be understood by ordinary people. By contrast, “Green Scene Diet” contains recipes that give readers practical advice and simple explanations of the benefits of plant nutrition. “There wasn’t a book to make it easy,” says Berson, who’s won endorsement from top doctors in the field, including Cleveland Clinic surgeon and author Caldwell Esselstyn. “I wanted it to be credible; I’m really just the messenger.” Berson estimates she’s spent $30,000 to develop a website and publish 1,000 copies of her book (it’s available on Amazon.com). While she’s on a personal mission to promote healthy nutrition, this isn’t a charity. “To get heard, it has to be a business,” she acknowledges.

Nancy DeNike

In the diet business, publishers seek out authors who have a following. One of the ways to do that is to write a blog, and Berson recently started doing that. “I need 1,000 followers to get a national publisher,” says Berson, who laughs about chatting up shoppers in the leafy greens aisle at Whole Foods in Naples. Plus, once your blog has a following, you can sell advertising on it. Berson also organizes “noshes,” which are gatherings at peoples’ homes where each guest brings a different vegan dish for others to try. Because Southwest Florida is a seasonal destination, she hopes people will start their own noshes where they summer using her materials. As word spreads, Berson plans to target media, such as magazines and websites that promote the vegan lifestyle. She notes that comedian and television talk show host Ellen DeGeneres is a vegan and hopes to be on her daytime show. Once she’s established as an expert, she reasons that she’ll be able to charge for public speaking. She says corporations and other organizations might pay you as much as $500 to $1,000 per engagement. But Berson is quick to remind you that this is much more than a business. “We’ve healed people in our lives,” she says. —Jean Gruss

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

www.review.net

9

Easy Street A down real estate market allowed a young Tampa entrepreneur’s company to compete with larger firms. Its wingspan and services have won over large clients to fuel its growth.

FIRST UP

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A

ndrew Wright considers himself the ultimate contrarian. “If you see everybody running one direction, then I’m going the other way,� he says sitting at the head of a conference table in his seventh-story office on Westshore Boulevard. Indeed, after launching Franklin Street Financial Partners in December 2006, Wright managed to defy a tumbling real estate market by diversifying his business across services and geography. Now with four offices in two states and more than 190 employees, Wright expects the firm to hit a third consecutive year of double-digit growth. The real estate crash is a salient factor in what led the 31-year-old to gain clients for his new business, Wright admits. While established real estate services companies faltered and decade-long relationships dissolved, his coldcalling paid off as banks took over distressed real estate and new ties were formed between owners and tenants — a niche Franklin Street filled. The firm serves as a buffet of real estate help, offering financing, property management, leasing and brokering as well as insurance. Property and facilities management and insurance have proven to be a dependable backbone for Franklin Street and helped it land sizable clients in Food Lion and PNC Bank. Deals in these areas may not be as glamorous as brokering multi-million dollar sales or financing expansions, but the two sectors have propelled Franklin Street from $5.3 million in annual revenues in 2010 to more than $9 million in 2011. Wright expects to reach $12 million this year.

Andrew Wright, Franklin Street: “If you see everybody running one direction, then I’m going the other way.�

Andrew Wright says Franklin Street’s success was born out of the disarray caused by the real estate market crash. Franklin Street got an audition with Food Lion to manage facilities for 21 of the retailer’s shuttered locations spread through Tennessee, Georgia and Florida. Since then, Food Lion has added another 77 sites to the firm’s management roster, bringing the space Franklin Street manages and leases to roughly 8 million square feet. The benefit of having financial, real estate and accounting experts in the same company makes Franklin Street efficient at communicating the myriad details management entails, Wright says. In March, PNC Bank selected Franklin Street to help it achieve its goal of opening between 25 and 35 new branches in Georgia, says Chief Operating Officer Danny York, who launched the firm with Wright and now heads the Atlanta office. In 2011, PNC Bank acquired Flagstar Bancorp and RBC Bank, along with 79 of their branch locations. Wright attributes the firm’s geographic reach with the win to secure PNC’s business. “If we were just a Georgia

Wemple

firm, then I don’t think we would have gotten that client,� he explains. Wright travels nearly every week between the company’s offices in Tampa, Atlanta, Fort Lauderdale and Jacksonville. The young entrepreneur doesn’t plan on slowing down. He’s poised to take on another hefty challenge as a member of one group bidding on the Channelside Bay Plaza in Tampa. “We had to compete with a lot of other real estate firms for that chance,� he says. But he has had some help in the process — Tampa Bay Lightning owner Jeff Vinik is part of the same group. It’s an exciting prospect, however Wright remains focused on a year that could push his firms employee totals near 250 — something that tickles the young entrepreneur financially and philosophically. “I love helping people establish careers,� he says. “I view that as my responsibility.� — Alex Mahadevan

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

www.review.net

HOW IT’S DONE

by Mark Gordon | Deputy Managing Editor

The Lumateq displays are 24 inches wide, 18 inches tall and 3 inches deep. Sarasota-based Sun Graphics Technologies handled the printing work on the panels. “We are basically a job shop,” says Sun Graphics owner Bill Blechta, “so this kind of work is pretty normal.” Cohen worked for Blechta more than 20 years ago, when the DMG founder was a student at Ringling College of Art and Design.

The bulbs on the displays are Lumateq products. Lumateq found DMG on a referral, and asked Cohen to build a better display than what it had. DMG put together a proposal, then farmed out several pieces of the project to other Gulf Coast firms.

The bulbs are connected to power sources through wiring that Sarasota-based Pacer assembled. Pacer, one of the largest cable and wiring firms in the Sarasota-Manatee area, mostly does marine and industrial projects. “In custom work,” says Pacer Sales Executive Steve O’Dea, “there’s no such thing as an average job.”

D & B Machine, a contract manufacturer based in Sarasota, drilled the holes for the wires that connect the bulbs to a power source. There are 12 to 14 holes in each display, says Cohen.

Sarasota Electronics, which runs a large showroom of hard-to-find components, built the three red product demonstration buttons on the bottom right of the displays. The QR code to the right of the red buttons leads to an informational Web page about Lumateq that DMG developed and maintains.

BK Plastics, an Odessabased plastics molding and manufacturing business, made the thermal trays at the bottom and behind the displays. Bruce Knecht founded BK Plastics 17 years ago, and it has since grown to have clients nationwide and in eight countries.

Harnessed Power A Sarasota-based firm spreads the love on its projects. A recent one included work for at least five other Gulf Coast businesses.

T

he business axiom that says a company should focus on one strategy, and do it really well, makes total sense to Sandy Cohen. Yet Cohen’s ability to mostly ignore that maxim is mostly why his company, Sarasota-based Design Marketing Group, has not only been able to survive the recession, but make it 20 years. The seven-employee firm, in mission, is an advertising and marketing firm. It does everything from websites to writing brochures to traditional advertising and public relations. But one of the company’s most notable offer-

ings lies in what it calls tradeshow management. That means DMG will design, engineer and build product display booths for tradeshows and other promotional settings. The firm will also handle all the other aspects of the tradeshow for a client, from reserving space to arranging the delivery and assembly of the booth. It will install the booth at the site, and then tear it down when the show is over. Says Cohen: “We can produce these bizarre niche solutions.” A perfect example: DMG is currently working on a 500-count display booth project for

Lumateq, an LED lighting company that’s a division of Miami-based Taco Metals. The booths aren’t for tradeshows. Instead, the booths are for Lumateq to display its lighting products in hardware and specialty retail stores. DMG began work on the Lumateq booths in early April. It has produced about 20-25 booths a day, with a two-man crew doing most of the work. Cohen says the biggest challenge is to balance all the moving parts. “It has to be safe,” says Cohen. “It has to be slick and clean. It can’t be a backyard science project.”

www.review.net

11

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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ENTREPRENEURS by Jean Gruss | Editor/Lee-Collier

Neal Knapp built and oversaw giant breweries for Anheuser-Busch in the U.S. and China. Now, he’s helping entrepreneurs start brewpubs and craft breweries.

The Brewmeister Neal Knapp retired to Cape Coral, but the former AnheuserBusch executive isn’t hitting the golf course. He’s helping entrepreneurs launch craft breweries around the world.

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hen you think of entrepreneurs, Neal Knapp may not be the kind of person who immediately comes to mind. After all, Knapp, 71, REVIEW SUMMARY retired from AnheuserCompany. Brew-Bev Busch in 2006 after 30 Industry. Beverage years in top positions at the famous St. Louis Trend. Craft beer has been a fast-growing brewer and settled in business despite the Cape Coral eight years recession. ago. But Knapp is far from your traditional retiree. He launched Brew-Bev, a company that provides the equipment and know-how to brewpubs and craft brewers. Some weeks he works 80 hours, often texting his suppliers in China in the middle of the night. As more people retire to Florida, it might be useful for economic development experts to take note that people like Knapp may be the ones who start new businesses and drive job creation. These hard-charging executives have decades of experience running companies, and they don’t take to the golf links too easily. Like many people who settle here later in life, Knapp used to vacation in South- When he started Brew-Bev after he rewest Florida. But Knapp had a storied tired eight years ago, the company was career at Anheuser-Busch, building and nothing more than an expensive hobby, operating huge breweries that produced he says. For a year after retiring he was a conmillions of barrels of beer. He spent the last 10 years working to supply the com- sultant to Anheuser-Busch. Then, he became a manufacturer’s representative for pany’s 50 Chinese breweries. China-based brewing equipment compa“I tried to retire,” Knapp chuckles. An engineer by training, Knapp says nies. But as word spread about his backhe loves to design and build breweries.

Fact is, brewpubs and artisan craft breweries are growing quickly even in challenging economic times. Craft brewers sold 15% more beer in 2011 than in the prior year in dollar terms, according to the Brewers Association. Because Chinese equipment cost half as much as that made by U.S. manufacturers, Knapp says he can build a small brewing system that costs from $60,000 to $2 million. Now, Knapp has a business that’s growing. While he declines to cite financial data, he says Brew-Bev is currently working to build several artisan breweries in Canada and Mexico.

Beans to beer

Neal Knapp, Brew-Bev: “You get what you inspect, not what you expect.” ground and experience, Knapp says he began offering to build small breweries from scratch for restaurants and craft brewers. That includes performing market surveys, creating a business plan, finding financing, buying and installing the equipment and providing ongoing maintenance and consulting services. “We’ll supply you right down to the labels,” he says.

Brian Tietz

Knapp grew up in the food business. His parents owned a vegetable cannery in Springville, N.Y., and he became the warehouse foreman at age 16, displaying leadership skills early. Knapp eventually earned a master’s degree in food engineering from the University of Arkansas and worked at a series of vegetable and cola packing plants. Then, he joined Anheuser-Busch in the mid-1970s. His first big assignment with the brewing giant was tripling the output of the Los Angeles brewing operation to 10 million barrels a year with a staff of 500 people. At the time, that represented 10% of Anheuser-Busch’s total beer production. He was then promoted to run the St. Louis beer operation, overseeing a work force of 2,000 people. In 1989, Knapp moved to Cartersville, Ga., just north of Atlanta, where he built an Anheuser-Busch plant from the ground up. That plant produced 7 million barrels of beer annually, which is the equivalent of 217 million gallons. Following a stint at corporate headquarters, Knapp took the job of procuring supplies for the company’s Chinese breweries despite the fact that he didn’t know how to speak the language. “Somebody looked at me and said, ‘do you have a passport?’” he laughs, recalling how he got picked for the job. But there’s a common language in

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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manufacturing, whether it’s in China or the U.S. One clue is whether the shop floor is clean. “That’s an indication of how you do business,� Knapp says. Doing business with the Chinese wasn’t as difficult as some manufacturers say. “I found people pretty willing to work with you,� Knapp says. He adds: “Special people rise to the top.� For 10 years, Knapp developed a network of top-notch Chinese manufacturers and suppliers, commuting halfway around the world from his home in St. Louis. It was a grueling lifestyle, led by a demanding chief executive, August

BUILD YOUR OWN BREWERY Ever dreamed of building and operating your own brewery? Then you might want to have a chat with Neal Knapp. The longtime AnheuserBusch executive’s Cape Coral-based company, Brew-Bev, can build it for you and even find a professional brew master to operate it. The trend is on your side. The growth of craft brews has made beer drinking more sophisticated and sales have grown by double-digit percentage rates in recent years, eating into the sales of giant brewers. But beware: Running a brewery takes money and time. “You’re either brewing or cleaning,� Knapp says. “You’ve got to be ready to work.� Getting the word out and landing shelf space in stores can be challenging. “It’s all about getting a following,� says Paul McLaughlin, director of marketing and sales. “It’s cult-like.� Beer aficionados seek out craft beers from small manufacturers. “They’ll be there with their laptops, rating it,� McLaughlin warns. “This is passion driven.�

Busch III, also known inside the company by his suffix as “three sticks.�

China connections

Knapp developed a wide network of Chinese suppliers over a decade of international procurement for AnheuserBusch. “My suppliers wanted to do business here,� he says. Initially, Knapp agreed to help Chinese manufacturers sell their brewing equipment and supplies in the U.S. “I started as a manufacturer’s rep,� he says. But Knapp prefers the engineering side of the business rather than sales, so he designs and installs the systems. For example, he’s helping a retired 3M Corp. executive build a small brewery in Mexico. “I buy the machinery and resell it,� he says. Knapp’s service is invaluable because of the risks of getting cheated by unscrupulous operators. “We know who’s safe to deal with and who isn’t,� he says. Still, as any good business executive knows, you can’t be too trusting. Knapp now travels to China about four times a year to inspect the equipment he’s buying for customers. Before it’s shipped, Knapp insists that manufacturers assemble the equipment to test it before it’s sent to the customer. Then, he personally oversees the loading and shipping. “That’s the only way to know what you’re going to get,� he says. “You get what you inspect, not what you expect.� Although Knapp says he knows he’s undercutting U.S. manufacturers with less expensive Chinese equipment, he says the lower cost is helping many entrepreneurs start craft breweries and brewpubs in the U.S. Knapp’s company itself is looking to hire additional people to its existing staff of 20. “We need more people because I don’t like working 80-hour weeks,� he laughs.

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CALENDAR OF EVENTS MAY 3

TITANS OF TAMPA BAY: Top executives from some of the Tampa Bay area’s largest and most successful companies will gather to share their business insights, best practices and vision at a Tampa Bay Technology Forum meeting. The event will run from 11 a.m. to 1:30 p.m. at the DoubleTree hotel, 4500 W. Cypress St., Tampa. For more information visit tbtf.org. WINNING ENTREPRENEURS: An award luncheon for the three winners of the Enterprise Charlotte Economic Council’s “Innovation 2 Industry� entrepreneur contest will be held at noon at the Charlotte Harbor Event & Conference Center, 75 Taylor Street, Punta Gorda. For more information visit floridasinnovationcoast.com.

MAY 17

SOX TECHNOLOGY: Steve Conley, director of information technology for the Boston Red Sox, will be the keynote speaker at the Southwest Florida Regional Technology Partnership’s fourth annual awards ceremony. The event will run from 6 p.m. to 9 p.m. at the Pelican Clubhouse, 9802 Pelican Preserve Blvd., Fort Myers. For more information visit swfrtp.org.

JUNE 7-8

FLORIDA SUMMIT: Former Florida Gov. Jeb Bush will be the keynote speaker at the Urban Land Institute’s two-day Florida Summit at The Vinoy Renaissance St. Petersburg Resort & Golf Club, 501 Fifth Ave. N.E., St. Petersburg. For more information email floridasummit@uli.org.

MAY 4

TECH CONFERENCE: Brett Price, CEO of Clare Controls and Tempus, will be the keynote speaker at the Suncoast Technology Forum’s first annual technology conference. The event will run from noon to 5 p.m. at the Sarasota Municipal Auditorium, 801 N. Tamiami Trail, Sarasota. Cost is $10. For more information visit suncoasttechnologyforum.com. ENTREPRENEUR GALA: Steve Santo, CEO and founder of Avantair, will be the keynote speaker at an entrepreneur gala organized by the University of South Florida Alumni Association’s Entrepreneurship Society. The event will start at 7 p.m. at the Palma Ceia Golf and Country Club, 1601 S. MacDill Ave., Tampa. Cost is $75 per person. For more information visit usfalumni.org.

NOVEMBER 1

BLUE CHIP AWARD: The 18th Annual Southwest Florida Blue Chip Community Business Awards program will recognize successful small business owners in Charlotte, Collier or Lee County who have overcome adversity to achieve success. The event will run from 11:30 a.m. to 1 p.m. at the Harborside Event Center, 1375 Monroe St., Fort Myers. For more information contact Stacey Mercado of BB&T-Oswald Trippe and Co. at 239-433-7189 or SMercado@BBandT.com.

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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EXECUTIVE Q & A

by Mark Gordon | Deputy Managing Editor

Lori Sax

Ann Jackson was the keynote speaker at a daylong seminar/boot camp for women entrepreneurs recently held on Lido Beach. Jackson is the CEO of Medina, Minn.-based Rockler Woodworking and Hardware, a business with more than $100 million in annual sales.

Good Wood Ann Jackson has learned lessons to last several lifetimes in the nearly 40 years she has run her family business, which does more than $100 million a year in sales. A key lesson: Hire slow, but fire fast.

I

n what was mostly an idyllic childtomers in places like Germany, Australia REVIEW SUMMARY hood, one memory sticks out for Ann and Britain. Jackson, back in 1958 when she was 8 It’s also a big business: Now based in Individual. years old. Medina, Minn., a Minneapolis suburb, Ann Jackson, CEO, That was when she got her first job at Rockler Woodworking and Hardware Rockler Woodworking and Hardware her father’s mail-order woodworking suphad more than $100 million in sales last ply business in Minneapolis. Her father, year. It distributes nearly 10 million cataIndustry. Retail, Nordy Rockler, launched the business in logs every year. hardware 1954. Four years later he needed someone Now 62, Jackson joined Rockler fullKey. Jackson has been to open envelopes. time in 1969, was promoted to president at the helm of her Jackson loved it. She worked with her in 1974 and took on CEO duties in 1985. family’s woodworking supply business since cousins, and she developed an affinity for Jackson, who has a vacation property on 1985. the details that make a business go. She the Gulf Coast, was the keynote speaker especially enjoyed studying invoices. Says at a recent daylong seminar/boot camp Jackson: “It was always a cozy place.” for women entrepreneurs in Sarasota. Complex replaced cozy over the ensuing The Gulf Coast Community Foundation decades. and SunTrust Bank underwrote the event, which was In fact, the firm has grown from one location, five full- held at the Lido Beach Resort. time employees and a folksy catalog in the 1950s to an Jackson spoke with the Business Review prior to her extensive e-commerce site and 29 retail stores nation- speech, on topics from her career and mentors to advice wide in 2012. It now has 500 employees, with a focus and how to survive four decades in a family business. on both professional woodworkers and people in it for Here are excerpts of the conversation: a hobby. Products range from lumber and veneer to See GOOD WOOD on page 16 hinges and knobs. It’s a global business, too, with cus-

GULF COAST BUSINESS REVIEW Gulf Coast Bx Review_April 27 Issue_Layout 1 4/12/2012 4:33 PM Page 1 APRIL 27 – MAY 3, 2012

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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GOOD WOOD from page 14 How has the company balanced the line between Q its roots in a friendly Midwestern catalog business and the realities of a $100 million enterprise spread through nearly 30 states?

A

We try, but we’re not always successful putting the customer first. But that’s really important. Our catalog sales reps are so committed to the customers, that a couple started crying (during a recent software conversion) because we weren’t giving the normal service that we always do. When you call us, you get a human being. You don’t go press 1 or press 2. Personal service is really important to us.

Q Everybody in the home office knows that if there’s A ever a customer who wants to talk to me, they can pull me out of any meeting because that’s the most imWhat steps have you taken to personally emphasize customer service from the corporate office level?

portant person.

Q A couple of years ago we listened to some of the A (customer service) phone calls. The catalog sales reps took care of issues promptly and efficiently, but How has customer service improved at the company over the years?

didn’t say ‘I’m sorry.’ And that’s a really a good thing to say to people. So now if we make a mistake, we all say we are sorry.

are some key management lessons you have Q What learned in your career?

LESSONS LEARNED

What are some of your weaknesses as a leader? This is a cliché, but it’s a real cliché: Hire people A smarter than yourself. The reason that it’s true is Q not that I have a low IQ and everybody is smarter than There’s an old woodworker saying, measure twice, me. But everybody is smarter than me in something. I can tell you the marketing guy is way smarter than me A cut once. That just means you need to be patient. in marketing, and the IT guy is way smarter than me in But I’m not a patient person. IT. You just have to make enough money to pay for those people. And it took me awhile to do that.

What lessons have you learned in hiring people, Q given the company has grown from five to 500 employees since you took over in 1974? All of us tend to hire fast and fire slow. But the real A talent is to hire slow, but fire fast. If you have a poison apple in your company you are going to get a lot

of damage. In my 42 years at this company we’ve had two or three really big poison apples, but on the other hand we’ve had people that are so sweet and kind and wonderful, but are totally incompetent. You need to fire them fast, too.

Q Is that difficult for you to execute? I’m not particularly hard-hitting. I really like the A people I work with. You read about some CEOs letting people go right and left, but that’s not really our culture.

Q Who are your business mentors? My father, the founder of the business. He really A has a passion for the products. I would say I have more of a passion for the business, but I’m proud of

the products. I’m not a fine woodworker. I know what good woodworking is, and I appreciate the skills. My late brother was also a mentor. We were partners for 13 years. He passed away at 33.

QWhat advice do you give to aspiring leaders? Always join professional organizations. When you A grow up in a family-owned business and you don’t get the polish that you would in a publicly held com-

pany, it’s really great to be in a network organization. Even as a kid, I was in a lot of organizations. Also, find a mentor and do the mentoring.

How have you handled the challenges of being a Q woman in an industry traditionally dominated by men?

Q How do you avoid hiring mistakes? It was never challenging or difficult, but there are A lot of it is to just clearly communicate the goals. A people who would come up to me and say, ‘hey, are A We changed our goal process a couple of years ago. you a secretary?’ I was very young when I started, so We now have quarterly reviews. We review the job de- there was probably more ageism than sexism. But I was scription and it’s much tighter now.

always pretty good at numbers. My father was really great at forecasting sales, and I could do the rest.

Pictures by Lori Sax | Photo Correspondent

Women in Business A Boot Camp for women entrepreneurs was held April 14 at the Lido Beach Resort. Makeup and cosmetics entrepreneur Flori Roberts was the chair of the event, which was underwritten by the Gulf Coast Community Foundation and SunTrust Bank. The keynote speaker was Ann Jackson, CEO of Rockler Woodworking & Hardware, a $100 million firm based in Minnesota. The Women’s Resource Center of Sarasota County coordinated the seminar.

Boot camp chair Flori Roberts and Janice Zaccarro with the Women’s Resource Center.

Anne Katrine with Bolling Patel and entrepreneur Nancy Markle.

Angela Massarro-Fain with Grapevine Communications and Lori Denny with SouthTech Solutions.

Entrepreneur Meridian Kristi ands Gail Sullivan with BW Because Women.

Ann Jackson, CEO of Medina, Minn.-based Rockler Woodworking and Hardware.

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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Anti-Cuba legislation could hurt Florida economy

After recently saying he would consider running as a Democrat against Scott, he has now expressed “admiration� for Obama for what he sees as the president’s attempt to work with Republicans. Crist did not endorse Scott for re-election, yet, but he does seem to be sending strong feelers out on the level of support if he ran as a Democrat.

A narrowly aimed law pushed by Southeast Florida Cuban legislators has triggered the universal law of unintended consequences. The legislation that passed this session prohibits state and local governments from contracting with companies for more than $1 million if those companies work in Cuba or Syria. The law ap-

peared intended to smack Odebrecht, a Brazilian conglomerate whose U.S. division is based in Coral Gables. The company is doing work to improve Cuba’s Port Mariel. But the law is hitting others, including many in Canada and Brazil — Florida’s largest international trading partners. Mark Wilson, president of the Florida Chamber of Commerce, told the Miami Herald that he got an unexpected and unwelcome call from the Canadian ambassador to the United States. The ambassador told him the new law could affect many Canadian firms doing work in Florida and Cuba and that the companies said: “they will not be making any more investments in Florida for fear they might get hit by this.�

FEATURED PROPERTIES

Well, that’s not what the Chamber and others have been trying to accomplish. Wilson said no companies should be doing business with oppressive foreign regimes, but that foreign policy is the province of federal officials, not state legislators. Gov. Rick Scott, who was just in Brazil on a trade mission earlier this year, has until May 5 to sign or veto the bill. Scott has clear moral values, but if a law is going to work against jobs in Florida — his top priority — it is going to be hard to get past his veto pen.

Crist admires Obama, sees Republican extremists

Former Gov. Charlie Crist continues his fall from Republican standard-bearer to as-yetundetermined leftist, admiring President Barack Obama and talking of the “radical right� in the GOP.

Crist, a big-spending governor who was getting creamed by Marco Rubio in the Republican primary for U.S. Senate in 2010 before jumping ship, took out after the tea party, his nemesis since its rise. He told MSNBC that Republicans have to “toe the line and talk in tea party terminology.� He added: “You’ve got to, I think, put forward a voice and a message that says that you want to govern for all the people not just the radical right of the Republican Party.�

State workers to get less state retirement funding

State employees will get smaller taxpayer-funded contributions to their retirement plans under a bill signed into law by Gov. Rick

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Panthers lose protection, property owners gain

In another blow to environmentalists’ attempts to place heavy restrictions on thousands of acres of South Florida land, the 11th U.S. Circuit Court of Appeals has upheld a lower court ruling rejecting attempts to label new lands as critical habitat for the endangered Florida panther. The Sierra Club and the Conservancy of Southwest Florida filed suit after the U.S. Fish and Wildlife Service denied the environmental groups’ request for the designation. The federal ap-

peals court ruled that the federal agency had the authority to deny the request. The Seminole Tribe of Florida and the Eastern Collier Property Owners groups backed the Wildlife Service’s denial.

Banker Deutsch is named economic opportunity chief

Longtime banking executive Hunting Deutsch is the new executive director of the Florida Department of Economic Opportunity. Gov. Rick Scott appointed Deutsch about two months after Doug Darling announced his resignation from the department. Deutsch has worked for AmSouth Bank, CitiGroup and SunTrust banks. Most recently, he was president of BankUnited Financial Corp. after being executive vice president of wealth management for BankUnited. The Department of Economic Opportunity, created by the Legislature working with Scott last year, is the result of a merger and streamlining of several state agencies.

Redistricting continues to shake up races

State House Democratic Minority Leader Ron Saunders withdrew from his re-election to the House so he could run for a Senate seat that is similar to his South Florida House district. It is his second attempt at the Senate, narrowly losing to Sen. Larcenia Bullard, D-Miami, who is term-limited this year. However, Saunders will be facing Bullard’s son, Rep. Dwight Bullard, D-Miami and former Rep. James Bush.

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Scott last week. The law is another in ongoing attempts to make the state pension plans affordable and continues to be fought by public employee unions. A law requiring state workers to contribute 3% of their salary to their pension last year in the defined benefit plan is being challenged in court. This year’s law is trying to reign in the employees in the defined contribution plan. Different classes of workers will see different declines. For instance, special risk employees, such as police, will see the state share decline from 18.3% to 12.3%. The bill had broad support in both the House and Senate, but obviously was opposed by employees who will see a smaller state contribution to their retirement. “This legislation takes a positive step toward addressing the overall costs of the Florida Retirement System — making the overall retirement benefits more affordable for Florida’s taxpayers,� Scott said in the transmittal letter.

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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CORPORATE REPORT

by Sean Roth | Real Estate Editor

US Natural Gas Corp. stops SEC financial reporting St. Petersburg-based US Natural Gas Corp. has filed with the Securities and Exchange Commission to halt much of its financial reporting. The company would no longer be obligated to file 10-K, 10-Q and 8-K reports. The company says its board of directors believes the cost of compliance with the SEC, Sarbanes-Oxley and other reporting requirements does not provide a discernible benefit to the company and its shareholders. US Natural Gas Corp’s stock, (symbol: UNGS), will continue to be traded on the over-the-counter markets. “The deregulation of our common stock is in no way an indication of our commitment to continue to implement our business model,” Wayne Anderson, president of US Natural Gas Corp., says in a press release “.... while we will no longer be bound by the reporting obligations of the SEC, the company does intend to resume regular communications with the investment community as a stock traded on the OTC markets.”

Arrow Environmental Services buys Naples’ Shur-Shot companies

Sarasota-based Arrow Environmental Services has purchased a Naplesbased Shur-Shot family of pest control companies, including Shur-Shot Inc., Alert Termite & Pest Control and Cape Coral Termite & Pest Control. The acquisition is expected to grow Arrow Environmental’s presence in Naples and Cape Coral. The Shur-Shot acquisition, combined with three others over the past eight months, has helped Arrow grow into one of the state’s largest pest control companies, with 60% growth in revenue over the past two years. Since 2010, Arrow has acquired eight companies with combined revenues of more than $4 million, and is

COMMERCIAL REAL ESTATE

by Sean Roth | Real Estate Editor

Transactions DEEDS/MORTGAGES

The following real estate transactions more than $1,000,000 were filed in Charlotte, Collier, Hillsborough, Lee, Manatee, Pasco, Pinellas and Sarasota county courthouses. The information lists the seller, buyer, amount of sale, mortgage and lender, if available, address and book and page of the document.

CHARLOTTE COUNTY Dennis Fullenkamp, individually and as debtorin-possession and as trustee of the Land Trust Agreement July 12, 1988 sold to Jones Loop Road LLC, $11,750,000, a number of lots, South Highlands and 21-41S-23E, 2083137.

COLLIER COUNTY J.P.Morgan Chase Commercial Mortgage Securities Trust 2007-CIBC18 Commercial Mortgage PassThrough Certificates Series 2007-CIBC18 sold to CS Tamiami LLC, $2,400,000 condominium, 14700 Tamiami Trail N., 4676180.

HILLSBOROUGH COUNTY Summer Palms LLC sold to G&C Summer Investors Inc., $23,650,000, Mortgage: $19,100,000, Grandbridge Real Estate Capital LLC, multifamily residential, 10220 Summer Palm Drive, Riverview, 2012114421. Cypress Run Investment Property LLC sold to Landmark at Grayson Park LP, $22,135,400, multifamily residential, 15501 Bruce B Downs Blvd., Tampa, 2012112960. Reflections of Tampa Ltd. sold to Collier Reflections Owner LLC, $12,755105.72, Mortgage: $15,000,000, Wells Fargo Bank National Association student housing, 14525 Prism Circle, Tampa, 2012109422. Sandalwood Shadow Oaks LP sold to Oak Grove Tampa LLC, $7,400,000, Mortgage (for Ralston Place Apartments and Shadow Oaks Apartments): $12,000,000, Guggenheim Life and Annuity Co., multifamily residential, Shadow Oaks Apartments, 13944 Sandy Hill Loop, Tampa, 2012110095. Sangeetha Limited Partnership sold to Beach Club Tampa LLC, $6,400,000, Mortgage (for Ralston Place Apartments and Shadow Oaks Apartments): $12,000,000, Guggenheim Life and Annuity Co., multifamily residential, Ralston Place Apartments, 2803 W. Sligh Ave., Tampa, 2012110092. Landmark at Sky Tower Suites LLC and Fountainhead Sky Tower Suites Investor LLC sold to University Residences USF LLC, $5,550,000, Mortgage: $4,000,000, Huntington National Bank, student housing, 4200 E. Fletcher Ave., Tampa, 2012111252. Crosstown Owner LLC sold to GGT Crescent Crosstown FL Venture LLC, $4,200,000,

Mortgage: $26,736,443, US Bank National Association, vacant commercial, 9891 Delaney Creek Blvd., Tampa in Crosstown Center, 2012107309.

Marketview Properties III LLC sold to Watermark Acquisition Group LLC, $3,750,000, multi-story office, Mariner, 5420 Bay Center Drive, Tampa, and Triton East, 5415 W. Mariner St., Tampa, 2012119429. Dale Mabry Skyways Inc. sold to OAC Ltd., $3,666,666.67, Mortgage: $4,000,000, Dale Mabry Skyways Inc., store, 2905 and 2903 N. Dale Mabry Highway and, a discount store and restaurant, a portion of 2903 and 2915 N. Dale Mabry Highway, Tampa, 2012114871. Private Restaurant Properties LLC successor by merger to CIG Real Estate LLC sold to Cole CA Portfolio LLC, $3,656,051, restaurant, 700 N. Dale Mabry Highway, Tampa, 2012103802. Capital Bank NA fka NAFH National Bank sold to Luna Partnership One LLP, $2,839,125, Mortgage: $2,400,000, Intervest National Bank, 95 condominium units in Palmera Pointe condominium, 2012111920. E.T. Timber Falls Inc. sold to Timber Falls Tampa LLC, $2,750,000, Mortgage: $2,610,000, Community First Bank, multifamily residential, 2600 E. 113th Ave., Tampa 2012118902. CL Realty LLC sold to Forestar (USA) Real Estate Group Inc., $2,683,406, miscellaneous residential, 4840 S. U.S. 41, Ruskin, 2012115776. ABC Properties Ltd. sold to JPMorgan Chase Bank NA, $2,100,000, store, 2001 N. Dale Mabry Highway, Tampa, 2012111334. Royce Properties Inc. sold to OAC Ltd., $1,833,333.33, Mortgage: $4,000,000, Dale Mabry Skyways Inc., store, 2905 and 2903 N. Dale Mabry Highway and, a discount store and restaurant, a portion of 2903 and 2915 N. Dale Mabry Highway, Tampa, 2012114873. Dale Mabry Skyways Inc. sold to Royce Properties Inc., $1,833,333.33, store, 2905 and 2903 N. Dale Mabry Highway and, a discount store and restaurant, a portion of 2903 and 2915 N. Dale Mabry Highway, Tampa, 2012114872. SA Challenger Inc. sold in quit-claim deed to MCS of Tampa Inc., $1,530,000, office, 5483 W. Waters Ave., Tampa, 2012107673. KDM Associates Inc. sold to Racetrac Petroleum Inc., $1,400,000, 1.952 acres, in SEC 33-28S22E, 2012103610. Fletcher Properties of Tampa LLC sold to EFAP Inc., $1,350,000, Mortgage: $850,000, The Bank of Tampa, strip center, 1402 E. Fletcher Ave., Tampa, 2012111125. McCormick Woods Investments LLC sold to M/I Homes of Tampa LLC, $1,278,488, units 47, 49, 50, 51, 61, 62, 63 and 64, South Hampton, 2012119251. A De Q Holdings Inc. and Alegra Holdings Inc. sold to and Arehna Holdings LLC, $1,150,000,

on track to reach the $10 million mark in annual revenues by the end of 2012. In addition to the purchase of the ShurShot family of companies, Arrow has also purchased three other companies in the past eight months: Ant-Ser Termite & Pest Control of Port Charlotte, AmerTermite of Sarasota and Gardener’s Choice of SW Florida of Naples. Arrow Chairman George Pickhardt and CEO Bill Hurd have chosen to have the firm focus on acquiring smaller pest control companies around west-central Florida.

Staffing Resource Group buying Metro Group IT

The Staffing Resource Group (SRG) of Tampa has acquired Metro Group IT, a Fort Lauderdale-based IT recruiting company. The acquisition is part of SRG’s strategic plan of expanding its footprint in Florida. Former Metro Group IT President Mike Fischer will manage SRG’s South Florida office. “Right now, IT is a strong, growing market,” Chief Executive Officer Todd Hall says in a press release. “We also hope to organically grow our business with current Metro Group clients by offering them our other services outside of IT.”

Mortgage; $977,500, Regions Bank, office, 5012 W. Lemon St., Tampa, 2012105871. Pippin Farms LLC sold to G&G Farms LLC, $1,100,000, Mortgage: $880,000 initial obligation of $2 million, Farm Credit of Central Florida, crops, 3820 and 3906 Forbes Road, Plant City, 2012118106. South Hampton Sales LLC vs. McCormick Woods Investments LLC, et al., sold to South Hampton Sales Inc., $1,050,000, townhouse or villa, lots 47, 49, 50, 51, 52, 61, 62, 63 and 64, South Hampton, 2012106562.

LEE COUNTY Jobet Investment Properties LLC sold to McArdle Group American Land Inc., $3,800,000, cropland, 18.72 acres, in SEC 26-43S-26E, Alva, 2012000075820. Entrada Estates LLC sold to Angel Aramis LLC, $3,350,000, in SEC 27 and 28-43S-24E, 2012000067129. Stearns Bank National Association sold to Bonita Springs Hospitality LLC, $2,852,000, hotel or motel, 28600 Trails Edge Blvd., Bonita Springs, 2012000072741. Steven Wilson, Michael Wood and John Dalrymple as co-trustees of the Mary Dalrymple Revocable Trust sold to Amphora Bank & Trust Corp. as trustee of the Shore Lane Trust, $2,675,000, lot 3, block 6, Revised Plat of Boca Rande, Gasparilla Island, 2012000073049. Redus Florida Commercial LLC sold to Prentiss Pointe Holdings LLC, $1,630,000, Mortgage: $1,320,000, Vesta Mortgage Holdings LLC, unit 202, building 7; unit 201, building 22; units 101, 102, 201 and 202, building 26; and unit 201, building 33; unit 102, building 34; units 201 and 202, building 35; and units 101, 102 and 202, building 36, Prentiss Pointe condominium, 2012000073284. Pelican Egg LLC sold to Liberty Land of Captiva Island LLC, $1,480,000, condominium, 1251 South Seas Plantation Road, Captiva, 2012000070780. Cooper Realty Co. sold to The JCARE Group LLC, $1,386,000, Mortgage: $386,000, Cooper Realty Co., vacant commercial, 16371 and 16361 Corporate Commerce Way, Fort Myers also known as Gulf Coast Landings, 2012000067580. Dielli Husen sold to Tarp Bef #4 LLC, $1,314,590, condominium, 19760 Osprey Cove Blvd., various units, Fort Myers, 2012000075056. Control Techniques – Americas LLC sold to Micro Control Systems Inc., $1,225,000, light manufacturing, 5580-5582 Enterprise Parkway, Fort Myers in Billy Creek Commerce Center, unit 3, 2012000065520.

MANATEE COUNTY Riva Trace LLC sold to Mandarin Development Inc., $4,274,000, vacant acreage or agricultural, 46.92 acres, in SEC 25-35S-18E, 02414-1987.

PASCO COUNTY Silver Fox Real Estate Holdings sold to Hometown Canada LLLP, $5,600,000, rental mobile home or RV park, 36336 Arbor Oaks Drive, Zephyrhills, 8668-3001.

Tampa Attorney Receives Lifetime Achievement Award

The Construction Law Committee of the The Florida Bar recently honored Carlton Fields shareholder George J. Meyer with its Lifetime Achievement Award. The award was presented for professionalism, ethics and dedication to mentoring and volunteerism in the field of construction law. The award was presented at the Fifth Annual Construction Law Institute, a three-day construction law conference. Currently, Meyer is serving a oneyear term as chairman of The Florida Bar’s Real Property, Probate and Trust Law Section. He works from Carlton Field’s Tampa office.

PINELLAS COUNTY Eagle Florida V. S. P. E. LLC sold to GB3 Partner LLLP, $9,750,000, La Entrada, 17505-1230. B.D.R. Largo Associates LLC sold to LN45 LLC, $3,555,300, general warehouse, 8155 Bryan Dairy Road, Seminole, 17504-547. Mid-Pinellas Office Park Inc. sold to Apartments at Lakeside LLC, $2,470,000, vacant commercial land, a portion of Hampton Road, Clearwater, 17502-578. B.M.R. Funding LLC sold to Edge Partners LLC, $2,300,000, Mortgage: $1,178,500, SBC Portfolio Fund LLC, hotel or motel, 4601 34th St. S., St. Petersburg, 17500-1652. Pelosi Enterprises Inc. sold to Wellington Crossings LLC, $2,100,000, private school, college or day care center, 5175 45th St. N., St. Petersburg, 17520-472. Ruth Stone as trustee sold to GG BTS Development LLC, $1,508,000, Mortgage: $2,125,000, Regions Bank, restaurant or cafeteria, 2675 Roosevelt Blvd., Largo, 17514-2636. 4888 Recovery LLC sold to St. Petersburg Housing Authority, $1,500,000, apartments, 4888 21st Ave. N., St. Petersburg, 17502-479. All Florida Orthopaedic Associates PA sold to P.D.Q. 4th Street LLC, $1,400,000, restaurant or cafeteria, 4526 Fourth St. N., St. Petersburg, 17499-1465. Douglas Menchise as trustee sold to Dockside Investment VII LLC, $1,250,000, Metes and Bounds, 17510-1994.

SARASOTA COUNTY Suncoast Plaza LLC sold to Toledo Price Plaza LLC, $1,700,000, Mortgage: $2,212,000, Toledo Price Lending Group LLC, planned commercial development, 1152 S. Toledo Blade Blvd., North Port, 2012041227. Fairmont Sarasota LLC sold to DiVosta Homes LP, $1,600,000, in SEC 31-37S-19E, 2012042058. Fifth Third Bank sold to Jebco Ventures Inc., $1,500,000, downtown core, 1750 Ringling Blvd., Sarasota, 2012040983. WCP Lots LLC sold to D.R. Horton Inc., $1,362,500, lots 12-17, 52, 54-57, 94-104, 106, 107 and 111, Willow Chase, 2012043157. SITC Inc. sold to Atlas FL I Spe LLC, $1,315,000, planned industrial development, 1401, 1571, 5015 and 1601 Sarasota Center Blvd. in Sarasota International Trade Center North, phase 2, 2012041843. J.H. Floyd Sunshine Manor Inc. sold to Sunshine Meadows Assisted Living Facility Inc., $1,304,800, Mortgage (assumption): $1,304,779.37, SunTrust Bank, lots 1-5, block E and lot 16, block G, City Park, 2012039934. South Sarasota Convenience LLC sold to J.H. Williams Oil Co. Inc., $1,270,000, general commercial, 6991 S. Tamiami Trail, Sarasota, 2012039717. Hafam FL 16 LLC sold to 1624 South Palm LLC, $1,100,000, Mortgage: $880,000, Hafam FL 16 LLC, downtown bayfront, 16-24 S. Palm Ave., Sarasota, 2012041983.

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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19

COMMERCIAL REAL ESTATE LEE-COLLIER-CHARLOTTE by Sean Roth | Real Estate Editor

Naples investor buys Crayton Place for $1.78M PROPERTY: 5584 19th Court S.W., Naples PRICE: $1.26 million PREVIOUS PRICE: $1.51 million, April 2005 TITLE FIRM ON DEED: Sunbelt Title Agency,

Etc ...

Naples

BUYER: 3700 MER LLC (Lucia Foiani), Naples SELLER: Hillcrest Properties II I PROPERTY: 750 11th St. S., Naples PRICE: $1.78 million LAW FIRM ON DEED: Lightsey & Associates PA,

Winter Park

PLANS, DESCRIPTION: A limited liability company led by Lucia Foiani of Naples purchased the 15,000-square-foot Crayton Place for $1.78 million. The price equated to $118 per square feet The previously bank-owned condominium development featured three luxury residential units ranging from 2,955 to 3,643 square feet and three built-out office suites ranging from 1,326 to 2,722 square feet. The Crayton Place acquisition follows the investment group’s purchase of the C&C Auto & Tire Center building at 3700 Mercantile Ave., Naples in January for $432,400. The Business Review was unable to contact Foiani for comment prior to deadline.

PLANS, DESCRIPTION: A limited liability company led by Paul Cestaro purchased the 12,920-square-foot The Gathering Shops neighborhood retail center for $1.26 million. The price equated to $98 per square foot. Built in 2006, the development features 11 retail or office units. Cestaro, who owned and ran a real estate brokerage office in New York City for several years, is now an associate with the Naples office of Coldwell Banker Commercial NRT. The formerly bank-owned property was purchased as an investment. Cestaro declined to comment on the acquisition. According to a recently verified LoopNet listing, the center is fully occupied. The purchase entity The Gathering Shops of Naples LLC mortgaged the property to Boundary Waters Bank for $862,500.

PRICE: $830,000 PREVIOUS PRICE: $255,400, October 2003 LAW FIRM ON DEED: Wotitzky Wotitzky Ross &

McKinley, Punta Gorda PLANS, DESCRIPTION: Englewood businessman Michael Thompson purchased a 30,620-square-foot freestanding retail building on 4.27 acres for $830,000. The price equated to $27.11 per square foot. The 21-year-old building, which previously housed Home Comfort Furnishings, was vacant at the time of the sale. It features three tenant spaces, including

Englewood business owner buys former Home Comfort building

Agent-led company buys Gathering Shops

• GMA Architects and Planners has completed the design services for a 16,000-square-foot church, Temple for Ministerio del Rey Jesus, on Santa Barbara Boulevard in Cape Coral. The new facility features a sanctuary with seating for 820 and the capability to transmit the services live over the Internet and on television. The facility also includes a bookstore and administrative space. • TWC Services Inc. purchased an 11,990-square-foot industrial building at 12590 Metro Parkway, Fort Myers from 12590 Metro LLC for $645,000. Fred Kermani of CRE Consultants represented the seller and Paula Hellenbrand of Encore Realty Services represented the buyer. • Weston & Sampson Engineers leased 5,639 square feet of office space in Fairfax I at 4210 Metro Parkway, Fort Myers from WCP Fairfax LLC. Randal Mercer and Brandon Stoneburner of CRE Consultants represented the landlord and Bryan Myers of LandQwest

BUYER: MMS LLC (principals: Michael

BUYER: The Gathering Shops of Naples LLC

Thompson), Englewood

(principal: Paul Cestaro), Naples SELLER: Border State Ban

SELLER: Palms West LLC PROPERTY: 3069 S. McCall Road, Englewood

represented the tenant. • Habitat for Humanity of Collier County purchased 9.54 acres of vacant land at 5766 Whitaker Road, Naples from Everbank for $225,000. Craig Timmins of Investment Properties Corp. handled the transaction. • Green Thumb Hydroponic Supplies Inc. purchased a 2,740-squarefoot freestanding building on a 0.8-acre parcel at 17031 N. Tamiami Trail, Naples from Deal Hunter Funding Inc. for $190,000. Carlos Acosta and Chuck Smith of Lee & Associates handled the transaction. • Aziz Real Estate Holdings LLC purchased a 1,957-square-foot retail space in Preserve Plaza at 18070 S. Tamiami Trail, Unit 116, Fort Myers from Q.L.E. LLC for $150,000. Carlos Acosta and Chuck Smith, of Lee & Associates handled the transaction. • Orioles Nest 323 LLC leased 2,594 square feet of retail space at 5705 Lee Blvd., Lehigh Acres. Michelle Hoffmann of LandQwest Commercial handled the transaction. an 18,000-square-foot tenant unit with 14,625 square feet of air-conditioned showroom space. The other two units are 4,050 square feet each. Ronald Struthers of Coldwell Banker Commercial NRT represented the seller. Struthers says the buyer owns a business, and he plans to occupy the building. “It was just a great price, and excellent opportunity for an end user,” Struthers says. The Business Review was unable to contact Thompson prior to deadline.

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GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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COMMERCIAL REAL ESTATE TAMPA BAY by Sean Roth | Real Estate Editor

Investor group buys Watermark 5, 7, plans to occupy vacant portion Two major Port of Tampa projects under way to improve connectivity

BUYER: Watermark Acquisition Group LLC (prin-

cipals: Kiran Patel), Clearwater SELLER: Marketview Properties III LLC PROPERTY: 5420 Bay Center Drive and 5415 W. Mariner St., Tampa PRICE: $3.75 million PREVIOUS PRICE: $7 million, October 2007 LAW FIRM ON DEED: Hill Ward & Henderson PA, Tampa

An investment group led by Tampa physician Dr. Kiran Patel purchased the prominent office buildings Watermark 5 and Watermark 7 for $3.75 million. The price equated to $70 per square foot. Watermark 5 is a 24,735-square-foot building on Mariner Street and Watermark 7 is 29,132 square feet on Bay Center Drive. The buildings were 40% occupied at the time of the sale. Patrick Mcguire and Frank Ryon of Redstone Asset Management Services LLC represented the seller, Marketview Properties III LLC, and Elliott Ross of The Ross Realty Group Inc. represented the buyer. The Ross Realty Group has also been hired by the new owner to provide leasing and property management services for the buildings. “The buyer’s company will be taking 15,000 square feet, the entire second floor of Watermark 7,” Ross says. “They hope to move in in 60 days. There’s no major deferred maintenance or anything. It’s exterior just needs some TLC and irrigation work. It really just needs some pride of ownership put into it.” Ross says the Westshore market is recovering better than the rest of the region, and he hopes to lease the buildings this year. PLANS,

DESCRIPTION:

Etc ...

• Paul Stasaitis, Chris Drew and Kim Flores of HFF Inc. secured $30.75 million in financing for One Progress Plaza, a 295,200-square-foot office building in St. Petersburg. HFF placed the building owner Kucera Properties in a 10-year, fixed-rate loan with American National Insurance Co. The financing replaces an existing maturing loan. The new financing will be serviced by HFF. The 27-story One Progress Plaza is 83% occupied. • John Stone of Colliers International Tampa Bay worked in conjunction with

Landmark Residential buys Tampa’s Cypress Run

BUYER: Landmark at Grayson Park LP, Juniper SELLER: Cypress Run Investment Property LLC PROPERTY: 15501 Bruce B Downs Blvd., Tampa PRICE: $22.14 million PREVIOUS PRICE: $23.75 million, April 2005 LAW FIRM ON DEED: Howard A Kantrowitz

Esq., Miami

PLANS, DESCRIPTION: Landmark Residential purchased the 408-unit Cypress Run at Tampa Palms apartment for $22.14 million. The price equated to $54,253 per unit. The property features a swimming pool, dog park, clubhouse, fitness center and racquetball and tennis courts. Built in 1988, the 338,200-square-foot development occupies a 69.21-acre site south of Bruce B Downs Boulevard. Built in a number of three-story buildings, the property features large units that average 828 square feet, according to the real estate research firm the CoStar Group Inc. The property has since been renamed Landmark at Grayson Park. Landmark Residential owns eight other apartment complexes in the Gulf Coast region, including Lofton Meadows, the Landmark at Avery Place, Landmark at Grand Palms, Milana Reserve, Courtyards On The River, Avondale by the Lakes, Landmark at Largo Crossing and Landmark at Savoy Square.

Crescent Resources, trust buy land for $37 million Circle Crosstown

BUYER: GGT Crescent Crosstown FL Venture LLC (principals: Robert Bourne, Rosemary Mills

Auction.com to sell the 236-unit Martin’s Landing Apartments in Lakeland for $6.83 million. The 37-year-old apartment complex was sold for $29,034 per unit. Stone represented the seller, 3520 Cleveland Heights LLC, and Kevin Kelleher of Franklin Street represented the buyer, Integritas Residential LLC. • The Pinellas County Housing Authority plans to break ground on a new 153-unit apartment community for seniors this summer. Pinellas Heights will be a mixed-finance redevelopment of the authority’s Greenhouse Shoppes site in Largo. Norstar Development USA LLP is the developer for the project. The 18-month construction project is budgeted to cost more than $17 million. • Alison Williams of NorthMarq’s Tampa Regional office arranged $4.75 million in acquisition financing for The Oasis Apartments, a 140-unit multifamily property at 3870 N. Andrews Ave., Oakland. Financing was based on a 10year term and a 25-year amortization schedule. It was arranged for a Canadian borrower by NorthMarq through its relationship with a national commercial mortgage-backed security lender.

Construction has started on two projects for the Port of Tampa. Work has begun on the Tampa Gateway Rail project, a multipurpose rail terminal that will provide capacity for 100-car trains of ethanol arriving to the port’s container terminal. The second project is the Interstate 4 connector, which will create a dedicated truck ramp that will link truck traffic from the port directly to I-4. and Steven Shackelford), Charlotte SELLER: Crosstown Owner LLC PROPERTY: 9891 Delaney Creek Blvd., Tampa PRICE: $4.2 million PREVIOUS PRICE: $2 million, July 2009 LAW FIRM ON DEED: Holt Ney Zatcoff &

Wasserman LLP, Atlanta PLANS, DESCRIPTION: Developer Crescent Resources LLC and real estate investment trust Global Growth Trust partnered to purchase five acres adjacent to the intersection of Interstate 75 and the Lee Roy Selmon Expressway for $4.2 million. Construction has started on the partners’ plans for a 344-unit, garden-style apartment development called Circle Crosstown. Development of the project is currently budgeted at $37 million. “We are excited about this exceptional location close to an abundance of highlevel employment, retail and services,” Brian Natwick, president of multifamily for Crescent Resources, says in a press release. Circle Crosstown will feature one-, two- and three-bedroom units, a dog park, saltwater pool and resident lounge

• Hendricks & Partners sells four-property portfolio Hendricks & Partners recently handled the sale of a 900-unit portfolio of four rental apartment properties in Plant City, Port Orange and DeLand for Colorado-based UDR Inc. Property records show the total portfolio sold for $50 million and the 352-unit Hunters Ridge at Walden Lake apartments in Plant City sold for $19 million. Cole Whitaker, partner and director of the Southeast Division of Hendricks & Partners, handled the sale with Associate Partner Hal Warren. The properties include Hunters Ridge, the 208-unit Pierpoint and 172-unit The Groves in Port Orange and the 168-unit The Mallards of Brandywine in DeLand. All of the properties were constructed between 1985 and 1990 and renovated in 2006 and/or 2007. • Private equity investment management firm Cardinal Point Management LLC has hired Cushman & Wakefield as the exclusive leasing agent for its 292,767-square-foot building portfolio in Pinellas County. One of Cushman & Wakefield’s primary focuses will be on

The Tampa Port Authority’s major partners in the $10.9 million Gateway Rail development are CSX Rail and Kinder Morgan. In addition to serving the energy sector, the new terminal and its 13,244 feet of rail will be able to serve a range of cargo. It also represents a major development in the Port’s container capability by providing direct on-dock access to the extensive CSX rail network. and cafe. The first apartments are expected to be completed in the first quarter of 2013. CNL Financial is sponsoring Global Growth Trust in the project. U.S. Bank NA is providing construction financing, and Crescent Multifamily Construction LLC will serve as the general contractor. The Preston Partnership LLC of Atlanta is serving as the designer for the project. The architect is Land Resource Design Group Inc., of Orlando. The purchase entity GGT Crescent Crosstown FL Venture LLC mortgaged the property to US Bank National Association for $26.74 million. Including Circle Crosstown, Crescent has five multifamily communities under construction, including properties in Nashville, Tenn., Austin, Texas, Raleigh, N.C.; and Durham, N.C. Crescent plans to start another seven apartment communities in 2012 valued at more than $300 million in Charlotte, Atlanta, Orlando and Nashville. The company has already developed more than 15 multifamily communities throughout the Southeast. the 88,500-square-foot Cardinal Point at Gateway, which is currently vacant. • Dr. Edward Leonard and Dr. Stephen Unger purchased a 4,800-squarefoot office space at 1814, 1820 and 1822 Wellness Lane in Trinity from MLRS Properties LLC for $550,000. Carol Kinnard of CAP Realty represented the seller and Heidi Tuttle-Beisner, also of CAP Realty, represented the buyers. • Adam Wides, a self-storage specialist in Marcus & Millichap’s Tampa office, represented the seller of Citrus Springs Mini Storage, a 20,000-square-foot self-storage facility in Citrus Springs for $525,000. • Gandy MacDill LLC purchased a 1,148-square-foot former bank location at 3017 W. Gandy Blvd., Tampa from the Federal Deposit Insurance Corp. for $375,000. The 0.38-acre property was purchased as an investment. Jorge Rodriguez of Colliers International Central Florida represented the seller. • Beazer Homes has sold its last single-family home at Gulfwinds in Orca Court off Alternative U.S. 19 and Anclote Boulevard in Holiday. The homebuilder still has 50 villa home sites for sale.

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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COMMERCIAL REAL ESTATE SARASOTA-MANATEE

21

by Sean Roth | Real Estate Editor

Langdon Hall sells for $4.72 million Etc ...

assisted-living and independent-living facilities, land parcels and 10 traumatic brain injury facilities. The facility is Aviv REIT’s second in Florida. Kenneth Carriero and Damien Carriero of Colliers National Seniors Housing Group handled the transaction.

Chicago-based Aviv REIT Inc. purchased the 80-bed, 66-unit Langdon Hall assisted-living facility for $4.72 million. The price equated to $74,788 per unit. The 55,275-square-foot building was 88% occupied at the time of closing. Ohio-based Saber Healthcare Group LLC, an operator of 56 skilled nursing facilities, recently began operating the facility under a long-term lease. Aviv REIT will be the new triple-net landlord. “We don’t operate the facilities,” says Josh Kochek, vice president of investment and asset management for Aviv REIT. “We’ve had a relationship with the operator for a number of years. They had an interest in renting that property, and we reviewed it and thought it made sense, so we [purchased it to] lease back to the operator.” The seller, Langdon Hall LLC, has owned the 27-year-old property for the past seven years. One of the largest owners of skilled nursing facilities, Aviv REIT owned 235 properties and 21,500 licensed beds as of March 2. It works with 36 operators across 27 states. It owns senior nursing,

Investors RT Pineapple buy Burns Court Dolphin building

PLANS,

DESCRIPTION:

BUYER: RT Pineapple LLC (principals: Roberta

Schiff and Theresa Sarro), Longboat Key SELLER: Bay Mountain LLC PROPERTY: 401 S. Pineapple Ave., Sarasota PRICE: $1.34 million PREVIOUS PRICE: $1.6 million, January 2005 LAW FIRM ON DEED: John J. Shea PA, Sarasota

PLANS, DESCRIPTION: Roberta Schiff of Longboat Key and Theresa Sarro of Forrest Hills, N.Y., purchased the 10,912-square-foot Dolphin building in Burns Court for $1.34 million. The price equated to $123 per square foot. The 59-year-old building features Burns Court Café, Scott Thomas Salon, Starflower Essentials, Skinology, Sigrid Olsen Art and Yoga SRQ on its bottom level. The top floor of the yellow building houses 10 apartments. The building is fully occupied. Stephanie Du Laux, the property manager for the previous owner, has been retained to manage the property. “The prior owner was very fair to people as far as rent,” Du Laux says. “The tenants were all very happy there; it’s a community.”

Bradenton, Sarasota entrepreneurs buy downtown Audubon Place parcel

BUYER: Northeast and Audubon

LLC (principals: Robert Bergs, James Burgess Jr. and Virginia Monroe), Sarasota SELLER: Quality Properties Asset Management Co. PROPERTY: 2170, 2150 and 2100 First St., 32 N. East Ave. and 19, 27 and 29 Audubon Place, Sarasota PRICE: $750,000 PREVIOUS PRICE: $3.45 million and $2.33 million, June 2006 LAW FIRM ON DEED:

Stoneburner Berry Glocker Purcell & Greenhut PA, Jacksonville

PLANS, DESCRIPTION: An investor group led by Robert Bergs of Bradenton purchased 1.68 acres of property and three buildings in downtown Sarasota for $750,000. The price equated to $10 per square foot of land. The downtown-core-zoned property houses a vacant 13-unit apartment building, a small single-family house and a duplex. The site was one of three downtown properties purchased by Safety Harbor-developer Paradise Communities for development just prior to the real estate crash. All three of the properties eventually were taken back by the lender, an affiliate of Bank of America. “I really like the neighborhood and being so near to this end of Main Street,” Bergs says. “During our due

diligence, I did quite a bit of walking the neighborhoods, getting to know the neighbors. I’m not a sophisticated real estate person, but I’ve lived in this area all my life and I know value when I see it. This seemed like a good value for the money, but only time will tell.” The new ownership hopes to renovate the apartment building to get it leased again. Bergs, the founder and owner of Sleuth Leak Detection Inc. in Bradenton, was joined in the purchase by his friends: Sarasota CPA Virginia Monroe and attorney Jim Burgess Jr. of Burgess, Harrell, Mancuso, Olson and Colton PA. John Harshman of Harshman & Co. Inc. represented the seller in the transaction. Given its current zoning, Harshman says, the property could be developed to a maximum of 10 stories and with up to 50 units per acre.

• Signature Sotheby’s International takes new name

Signature Sotheby’s International Realty has changed its name to Premier Sotheby’s International Realty effective April 1. Signature merged with Premier Sotheby’s International Realty of Naples in November 2010, and had continued to operate under the Signature name until now. Premier Sotheby’s International Realty, headed by CEO Judy Green, has more than 450 sales associates and 18 offices. This name change will not impact current operations or management. Premier Sotheby’s International Realty has also opened a new office in Lakewood Ranch’s Main Street.

• Brunello, a neighborhood of 65 grand villa homes in Venetian Golf & River Club in Venice, is sold out, according to developer and homebuilder WCI Communities. In response, WCI has opened Artisti, a neighborhood of 37 home sites in the Venetian Golf & River Club. Prices in Artisti start at $209,990.

• Port Authority hires American Bridge for birth expansion

The Manatee County Port Authority has approved a $13 million contract with American Bridge Co. for a 584-foot extension of Berth 12 and a 10-acre container yard. The project is expected to be complete by mid-2013. When it’s finished, Berth 12 will be 1,584 feet long with a 40-foot draft and be capable of handling Panamax-sized ships arriving at Port Manatee’s first dedicated container facility. This project will complement dredging work completed in October. CH2M Hill will provide constructionphase engineering services for the project. • Seashore Granite leased 12,200 square feet of retail space at 1851 57th St., Sarasota, from Serena Lennox. Bob and Roberta Kolton of the commercial division of Michael Saunders & Co. handled the transaction. • Down to Earth Lawn Care II Inc. leased 8,000 square feet of industrial space at 8135 25th Court E., Sarasota, from Sarasota Bakery Depot TIC. Bob and Roberta Kolton of the commercial division of Michael Saunders & Co. represented the landlord. • Sarasota County purchased the property located at 9048 Tamiami Trail S., Venice, from M&I Marshall & Ilsley Bank for $299,000. Stan Rutstein of Re/Max Alliance Group represented the transaction. • Kay’s Restaurant & BBQ Inc. leased unit 10 at 1100 N. Tuttle Ave., Sarasota from Silver Bay Investments Inc. for five years. Rico Boeras of Preferred Commercial Inc. represented the tenant and Troy Robbins of Harry E. Robbins Associates Inc. represented the landlord.

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65135

BUYER: Bradenton ALF Property LLC (principal: AVIV Financing I LLC), Chicago SELLER: Langdon Hall Land LLC PROPERTY: 1120 W. 33rd Ave., Bradenton PRICE: $4.72 million PREVIOUS PRICE: $1.9 million July 2004 LAW FIRM ON DEED: Law Office Terrance Matthews Chartered, Bradenton

• RKM Development Corp. purchased 1.2 acres of vacant land at 36750 State Road 70, Myakka City from R&R Properties LLC for $151,000. The property is the future home of a Dollar General Store. Bob Milhoan of Hembree & Associates handled the transaction. • Waggin Tails Grooming leased 3,800 square feet of space at 2,688 Webber St., Sarasota, from Hanan & Katz LLP. Ian Black, Steve Horn and Melissa Harris of Ian Black Real Estate handled the transaction. • TechHouse Integrated Information System Solutions Inc. leased 2,875 square feet of space at 6910 Professional Parkway E., Sarasota, from Lakewood Investment Partnership. Debbie Anglin and Nick DeVito II of Ian Black Real Estate handled the transaction. • 1961 D LLC purchased 1961 Floyd St., Suite D, Sarasota from Silverstein & Rosenberg Building Partnership for $405,000. Ian Black, and Steve Horn of Ian Black Real Estate and Linda Emery of Sperry Van Ness handled the transaction. • The Liberty Group of Cos. has opened the new Best Western Plus Hotel and Suites in Bradenton. The 61room hotel, formerly known as the Holiday Inn Express, is directly off Interstate 75 and State Road 64. The hotel remained open during renovations over the past several months, and its 15 new employees will be led by General Manager Andrea Horne with Tampa-based Liberty Hospitality Management. Liberty Bradenton Investments LLC acquired the non-performing senior mortgage secured by the hotel and obtained the title through a foreclosure agreement in late 2011.

22

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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Flying Ace

by Jean Gruss | Editor/Lee-Collier

Flying has always been a part of Dave Dale’s life. He just prefers to be the one behind the throttle. NAME: Dave Dale AGE: 53 POSITION: President COMPANY: Owen-Ames-Kimball Company INDUSTRY: Construction HEADQUARTERS: Fort Myers PASSION: Flying airplanes. Dale owns a Cessna 310 that he keeps in a hangar at his airpark home in north Fort Myers. HOW HE STARTED FLYING: “My mom and dad were pilots; they flew for pleasure,” Dale says. “I started flying in my early 20s. I was going to escape construction and get into commercial flying.” FLYING FOR A LIVING: “I did have an offer from Aloha Airlines,” Dale says. It was in 1987 and the pay was $10 an hour (flight time only) as a co-pilot on a DeHavilland Twin Otter. It was a part-time job for 80 hours a month and you had to be ready within 45 minutes’ notice any time. “It was in Hawaii, where a loaf of bread was $3,” Dale says. He turned down the offer. CROP DUSTER: Dale took a job as a crop duster in Kansas for a few years in the late 1980s, a kind of flying that requires precision and daring because you’re flying 10 feet off the top of the crops. Flying under power lines was routine. “It’s a lot quicker to go underneath,” Dale smiles. “I’ve had to miss deer,” he says. “It paid 65 cents an acre,” says Dale, who said he could spray 500 acres on a good day. “I never crashed,” he says. “It’s not as death-defying as it might look.” AEROBATIC FLYING: Dale did some aerobatic flying when he was younger. “It just pushes the envelope on flying, and you can do it safely if you have the right equipment,” Dale says. AIR SICKNESS: “The only reason I ever was sick on a plane was when I was hung over.” FLIGHT INSTRUCTOR: Dale maintains his flight-instructor license, but he doesn’t consider himself a good teacher because he says he lacks the patience. Teaching a person who’s never flown before is more challenging than someone with experience. Plus, the demands of running a construction company don’t leave much time for giving flying lessons. FLYING COMMERCIAL: Dale rarely flies commercial, and he doesn’t like it when he has to.

Brian Tietz

Dave Dale, president of Owen-Ames-Kimball Company, once flew crop dusters in Kansas for a living. He stands here with his plane and co-pilot Hank. “There’s no part of it that’s enjoyable now,” Dale says. “Now, it’s just an inconvenience.” STAY COOL: You have to be ready for any emergency that might arise and sometimes act counter-intuitively to maintain airspeed. “You can’t duck or wince,” Dale says. “You have to focus on what you need to do.”

WHAT’S ON HIS TO-FLY LIST: “I’ve never flown helicopters, so that’s on my list,” Dale says. “A few years ago I got my seaplane rating.” FAVORITE PLANE: Dale loved flying a Waco bi-plane with its open-air cockpit and loud engine. “It flies like a truck,” he laughs.

FRINGE BENEFITS: One of the pluses of owning a plane is that you get invited to fishing and hunting trips because you can fly your buddies there quickly. For example, he’s planning a trip to Rum Cay in the Bahamas to fish with Steve Shimp, Owen-AmesKimball’s retired chief executive. “It’s a 35-minute run to the Keys,” he says.

IT DOESN’T ADD UP: There’s no way to justify a private plane if finances were all that counted. Dale uses it to get to distant job sites and shoot aerials of construction projects, but even then he doesn’t charge the company. “It’s almost impossible to make an airplane pencil out.” Costs include hangar space, enginemaintenance, fuel and insurance.

GULF COAST BUSINESS REVIEW APRIL 27 – MAY 3, 2012

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23

POWER LUNCH By Mark Gordon | Deputy Managing Editor

Everything Greek RESTAURANT: El Greco Cafe ADDRESS: 1592 Main St., Sarasota, Fla., 34236 PHONE: 941-365-2234 WEBSITE: www.elgrecocafe.com LUNCH GUESTS: Adam DeClerico, sales executive with Chia Bia, an Ireland-based natural foods company with a U.S. headquarters in Clearwater; and Andrea Dennis, founder of Bradentonbased Stellar Copywriting & Public Relations. RESERVATIONS: Not required. PARKING: Can be difficult. Location is one of the busiest blocks of Main Street. City officials recently bagged digital parking meters, which makes parking less confusing. ONE-HOUR LUNCH TEST: Passed. Service is fast and attentive. Drinks are refilled frequently, and servers checked back on table regularly. SEE AND BE SEEN: A large share of movers and shakers frequent the restaurant. The offices of SunTrust Bank, Wells Fargo and Bank of America are nearby, and several bankers are regulars. Sarasota city and county officials

also eat at El Greco semi-regularly. PRIVACY: Restaurant is split into two rooms. The front room is a little nosier than the back room, though each area offers tables in corners or against the windows that are better for dealmaking chats. In general, the restaurant can get loud during the busy lunch periods. AMBIANCE: A combination of Old European style and an upscale feel mark El Greco. Tables in one corner of the front room offer window views of Main Street and Orange Avenue. That’s a high foot traffic location, which makes it a good place for people watching. There are outdoors tables available, too. FOOD: The menu is thick with numerous Greek and Mediterranean choices. The appetizer list, for instance, includes Sagan Opa! which is broiled Kasseri cheese that’s flamed with brandy at the table. (Servers will yell Opa!) Other appetizers: Calamari Tiganito, lightly floured fried calamari, and Dolmades, seasoned organic meat and rice wrapped inside grape leaves. Two of the more popular lunch selections are El Greco’s Famous

Rod Millington

El Greco co-owner Robert Marini bought the restaurant, on Main Street in downtown Sarasota, in 2005. Eddie Yzeiri, Marini’s nephew, co-owns the eatery. Gyro and the Famous Greek Salad. The salad has lettuce, tomatoes, cucumbers, pepperoncini, olives, beets, green peppers, onion and Feta cheese. Prices for lunch entrÊes mostly range from about $7 to $10. Platters are a few dollars more. OWNERSHIP: Onetime El Greco chef Robert Marini and his

nephew, Eddie Yzeiri, bought the restaurant from the original owner in 2005. The restaurant opened in 1989. Yzeiri, who worked in restaurants in Detroit for 15 years, says the recession recently leveled off somewhat for El Greco, however business remains inconsistent. Fewer employees downtown, says Yzeiri, means fewer possible custom-

ers. “The body count has been less,� Yzeiri says. “And people are spending less.� Still, Yzeiri says some days are surprisingly busy. On a recent Monday, for example, the restaurant served one table of 15 people, and another table of 30 guests during lunch. REVIEW DATE: February 2012

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