N OV E M B E R 8 - N OV E M B E R 14 , 2013 | T H R E E D O LL A R S
FLOR IDA’S NE WSPAPER FOR T HE C - SUI T E
Retail | As it seeks to freshen its image, Bealls will focus on products, not just prices. PG.8 P A S C O • H I L L S B O R O U G H • P I N E L L A S • M A N AT E E • S A R A S O TA • C H A R L O T T E • L E E • C O L L I E R
Grand CRANE Sales at Tampa-based Sims Cranes reach new heights thanks to an inside-and-out strategy facelift. PAGE 14
inside ECONOMIC DEVELOPMENT
Attractive Territory
One of Southwest Florida’s best ways to attract new companies is to get their CEOs to visit. A Minnesota firm may be the next relocation story for the region. PAGE 7
TECHNOLOGY
Patient Pipeline
Surgeon Joseph Magnant uses the Internet to find prospective patients. He hopes to offer the idea to doctors across the U.S. PAGE 9
INSURANCE
Brokering Expansion
USAmeribank’s sale of CCF&N gives the insurance brokerage room, and resources, to continue its growth. PAGE 10
INSURANCE
Risky Business
With new federal regulations boosting flood-insurance rates sky high, one engineer helps property owners fight the maps that mark risk and reduce rights PAGE 12
COMMERCIAL REAL ESTATE
Behind the Deal
When a yacht club closed its doors, Pinchers Crab Shack moved quickly to secure the property for a new concept. PAGE 21
NETWORKING
Big Achievers
Junior Achievement of Southwest Florida inducts this year’s honorees into the Collier County Business Hall of Fame. PAGE 23
TOP DEALS Miami investor buys Element apartments for $98 million. 18 Naples airport buys hangar for Hertz. 20
Dean Sims II | Vice president of marketing, Sims Crane & Equipment
17 Ten hidden sales costs you won’t find on your P&L.
PAGE
116578
DON’T MISS
Sarasota Manatee Airport Authority buys Tallevast land for $1.8 million. 22
1 0O\Y Q][ Â’ &%% $$
$#
MEMBER FDIC
2
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
Vol. XVII, No. 44
A DIVISION OF THE OBSERVER MEDIA GROUP
Exceeding your expectations with local market knowledge, a global network, and the highest level of professionalism. Downtown Sarasota Office Building
BusinessObserverFL.com The Business Observer, formerly the Gulf Coast Business Review, is Southwest Florida’s newspaper for business leaders. With offices in Hillsborough, Pinellas, Pasco, Manatee, Sarasota, Charlotte, Lee and Collier counties, the Business Observer is the only weekly business newspaper that provides business leaders with a regional perspective. The Business Observer’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 Observer is also the leading publisher of public notices on the Gulf Coast of Florida.
Fruitville Road Development Site, Sarasota
Editor and Publisher / Matt Walsh, mwalsh@BusinessObserverFL.com
• 5,900 +/- SF Freestanding Building • Abundant On-site Parking, Great Location • Perfect for Investor or User • PRICE REDUCED to only $999,000!
Executive Editor / Kat Hughes, khughes@BusinessObserverFL.com Deputy Managing Editor / Mark Gordon mgordon@BusinessObserverFL.com Editor-Lee/Collier / Jean Gruss jgruss@BusinessObserverFL.com Research Editor / Sean Roth sroth@BusinessObserverFL.com Web Editor / Amanda Heisey aheisey@BusinessObserverFL.com Editorial Design / Nicole Thompson nthompson@yourobserver.com
• 3.1 +/- Acres Zoned for Office • High Visibility with 45,000 Cars Per Day! • Previously Approved for 34,000 SF of Office • Asking $1.2 Million
Diane Lawson (941) 780-6136 Diane.Lawson@SVN.com
Gail Bowden (941) 343-4515 Gail.Bowden@SVN.com
14 Unit Beach Resort, Anna Maria Island
Beautiful Office Space, South Sarasota
Associate Publisher / Diane Schaefer dschaefer@BusinessObserverFL.com Multimedia Sales Consultant / Jo-An Thomas jthomas@BusinessObserverFL.com Director of Legal Advertising / Kristen Boothroyd kboothroyd@BusinessObserverFL.com Advertising Production Manager / Kathy Payne kpayne@yourobserver.com Chief Financial Officer / Laura Keisacker lkeisacker@yourobserver.com Director of Distribution and Subscriptions Sales / Anne Shumate subscriptions@BusinessObserverFL.com Brand Marketing Manager / Leslie Gnaegy lgnaegy@yourobserver.com
HOW TO REACH US • 7,100 +/- SF Completely Remodeled in 2007 • Pool, hot tub, observation deck • Stunning Gulf of Mexico views! • Fully Operational, Includes FF&E
• 3,425 +/- SF, Almost New Class “A” • 9 Offices, Conference Room, Work Area • Highly Visible U.S. 41 Location • ONLY $10 PSF NNN!
Mike Migone (941) 487-6986 Mike.Migone@SVN.com
5570 Gulf of Mexico Dr., Longboat Key, FL 34228 Phone: 941/362-4848 Phone: 941/906-9386 (Legal Notices) Fax: 941/954-8530
412 E. Madison St., Suite 911 Tampa, FL 33602 Phone: 813/221-9505 (Legal Notices) Fax: 813/221-9403
Bruce Dilges (941) 928-9291 Bruce.Dilges@SVN.com
LEE COUNTY
5237 Summerlin Commons Blvd., Suite 324 Fort Myers, FL 33907 Phone: 239/275-2230 (Jean Gruss); FAX: 239/936-1001 (Legal Notices)
Sales • Leasing • Property Management 1626 Ringling Boulevard, Suite 500, Sarasota 1401 Manatee Avenue West, Suite 900, Bradenton
ORANGE COUNTY
446 N. Dillard St., Suite 4 Winter Garden, FL 34787 Phone: 407/654-5500 (Legal Notices) Fax: 407/654-5560 125479
(941) 387-1200 • www.SuncoastSVN.com All Sperry Van Ness® Offices Independently Owned and Operated
MANATEE COUNTY
HILLSBOROUGH COUNTY
CHARLOTTE COUNTY
Address: 949 Tamiami Trail, Suite 202 Port Charlotte, FL 33953 Phone: 941/249-4900 (Legal Notices) Fax: 941/249-4901
PINELLAS COUNTY
SARASOTA CITY CENTER SARASOTA CITY CENTER
14004 Roosevelt Blvd. Clearwater, FL 33762 Phone: 727/447-7784 (Legal Notices) Fax: 727/447-3944
1819 MAIN STREET, SARASOTA
OFFICE SUITES AVAILABLE OFFICE SUITES AVAILABLE IN THE HEART OF DOWNTOWN IN THE HEART OF DOWNTOWN
SARASOTA COUNTY
PO Box 2234 Sarasota, FL 34230 1970 Main St., Suite 400, Sarasota, FL 34236 Phone: 941/362-4848 Phone: 941/906-9386 (Legal Notices) Fax: 941/954-8530
COLLIER COUNTY
The French Quarter, 501 Goodlette Road N., #D-100 Naples, FL 34102 PHONE: 239/263-0122 (Legal Notices) Fax: 239/263-0112
PASCO COUNTY
5709 Main St., New Port Richey, FL 34652 Phone: 813/221-9505 (Legal Notices) Fax: 813/221-9403
To send Legal Notices, email to: legal@BusinessObserverFL.com Name the county of interest in the subject line and attach notice. Deadline for legal notices is noon Wednesday. For Display Advertising, Call (941) 362-4848. Deadline for display advertising space is noon Friday.
SUITES AVAILABLE FROM
HOW TO SUBSCRIBE
502 TO 12,413 RSF
Subscription Price
x CLASS A BUILDING x FULL SERVICE x RESTAURANT x BANK x HAIR SALON/SPA/BOUTIQUE x DRY CLEANING LOCKERS x SHOE REPAIR/SHOE SHINE x FITNESS CENTER x SIX STORY PARKING GARAGE x OFF SITE PARKING LOT x ON SITE PROPERTY MAN-‐ AGEMENT
One-Year Periodical Rate ....................................................................................... $75 One-Year First-Class Mail .....................................................................................$107 Two-Year Periodical Rate ......................................................................................$127 Two-Year First-Class Mail ......................................................................................$180 Three-Year Periodical Rate...................................................................................$185 Three-Year First-Class Mail ..................................................................................$239 Single copy price: $3 Group rates for five or more corporate subscriptions are available. To subscribe online: www.businessobserverfl.com If you have a question about your subscription or wish to suspend your subscription temporarily, call Anne Shumate, (877) 231-8834 or contact her by email: subscriptions@BusinessObserverFL.com
POSTAL INFORMATION The Business Observer (ISSN#1539-9184) is published weekly on Fridays by the Gulf Coast Review Inc., 1970 Main St., Sarasota, FL, 34236; 412 E. Madison St., Tampa, FL 33602; 14004 Roosevelt Blvd., Clearwater, FL 33762; 5709 Main St., New Port Richey, FL 34652; 5570 Gulf of Mexico Dr., Longboat Key, FL 34228; 949 Tamiami Trail, Suite 202, Port Charlotte, FL 33953; 5237 Summerlin Commons Blvd., Suite 324, Fort Myers, FL 33907; and The French Quarter, 501 Goodlette Road N., #D-100, Naples, FL 34102. Periodicals Postage Paid at Sarasota, FL, and at additional mailing offices. The Business Observer is circulated in Charlotte, Collier, Hillsborough, Lee, Manatee, Pasco, Pinellas, Polk and Sarasota counties.
Osprey is a full service real estate company offering leasing, construction and property management. One team of specialists ready to assist you in the selection and custom design of your new office location. Ăůů ƵƐ ƚŽ ŝŶƋƵŝƌĞ ĂďŽƵƚ KƐƉƌĞLJ͛Ɛ ŽƚŚĞƌ ĂǀĂŝůĂďůĞ ŽĨĨŝĐĞ ƐƉĂĐĞ ŝŶ ^ĂƌĂƐŽƚĂ͘
POSTMASTER: Please send changes of address to the Business Observer, P.O. Box 3169, Sarasota, FL 34230.
LORI HELLSTROM, CCIM Office: 941.365.1819 Cell: 941.504.5981 lhellstrom@ospreyres.com www.ospreyres.com KƐƉƌĞLJ ŽǁŶƐ͕ ŵĂŶĂŐĞƐ ĂŶĚ ůĞĂƐĞƐ ŵŽƌĞ ƚŚĂŶ Ϯ ŵŝůůŝŽŶƐ ƐƋƵĂƌĞ ĨĞĞƚ ŽĨ ĐŽŵŵĞƌĐŝĂů
>ŝĐ͘ ZĞĂů ƐƚĂƚĞ ƌŽŬĞƌ
“The road is cleared,” said Galt. “We are going back to the world.” He raised his hand and over the desolate earth he traced in space the sign of the dollar. Ayn Rand, Atlas Shrugged 125484
ƌĞĂů ĞƐƚĂƚĞ ŝŶ ƚŚĞ ^ĂƌĂƐŽƚĂͬdĂŵƉĂ ĂLJ ĂƌĞĂ͘
For information on reprints, visit BusinessObserverFL.com
$$
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
CoffeeTalk
3
Medicaid expansion: At what cost? If Medicaid expanded in Florida as a result of Obamacare, what would it cost? Dean Stansel, associate professor of economics at Florida Gulf Coast University in Fort Myers, sharpened his pencil with University of Minnesota’s Stephen Parente to figure out the impact of expanding the state’s low-income health insurance program under the terms of the Affordable Care Act. Their conclusion: The cost to taxpayers of adding new Medicaid recipients
in Florida would rise $2.04 billion annually within the next decade. That’s because the net number of Medicaid enrollees would surge by 4.48 million to 7.11 million by 2023, Stansel and Parente say. Equally worrisome is that the number of insured people covered by private plans would fall by 2.15 million. The Florida Legislature ended its session in May without approving the Medicaid expansion. But you can be sure it’s going to reappear in 2014.
There goes the beef waitress service with a full bar, which Corneil says separates it from the Five Guys and Burger 21s of the world. “I don’t like fast casual,” says Corneil. “I enjoy being waited on.” Corneil and business partner Bill Shumate opened the first Square 1 in 2008 on Henderson Boulevard in Tampa. Corneil and Shumate also own Bella’s Italian Café, a popular eatery in the Hyde Park neighborhood of Tampa. Corneil’s husband, Tampa accountant Ray Leich, is a co-owner in Square 1. An Oklahoma native who grew up on a cow farm, Corneil says one of her biggest challenges right now, expansion or otherwise, is food costs. Angus, for example, runs $3.58 per pound — an 89.4% increase from 2008, when it cost $1.89 per pound. Beyond that, Corneil seeks to make sure management and employee training is top shelf in the four new locations. “The consistency has to be there in this business,” she says. “If not, you’re dead.”
See COFFEE TALK page 5
BOOZE RULES LOOSEN UP
3979 SOUTH TAMIAMI TRAIL (941) 921 4016 | (941) DIAMOND Y OUR JEWELRY EXPERIENCE REIMAGINED
DIAMONDVAULTJEWELERS.COM Loose Diamonds | Engagement Rings | Fine Swiss Watches Custom Design | Estate Jewelry | Full-Service Repair 125254
:_WcedZ LWkbj _i dej W\āb_Wj[Z m_j^ Heb[n KI7" ?dY$ or any other watch manufacturer.
EST. SARASOTA 1978
SOUTHWEST FLORIDA’S PREMIER FULL-SERVICE COMMERCIAL REAL ESTATE BROKERAGE FIRM Local Market Expertise Regional Market Knowledge National Market Contacts 12 Experienced Commercial Agents
TROY ROBERTS
FILE PHOTO
it’s really good, it’s really different,” Roberts tells Coffee Talk. “But we need to get people to try it.” The tasting room will be open, starting in mid-November, on Thursdays, Fridays and Saturdays from noon to 5 p.m. Roberts will give guided tours on those days, too. One-to-one sales are certainly good, says Roberts, but the best part of the deregulation is he can now market directly to consumers. A onetime sales executive with Compuware, Roberts founded Drum Circle Distilling in 2007. Siesta Key Rum is available for For a video and more on sale in several retail outlets, Siesta Key Rum, scan including Total Wine and More this QR code or visit stores in 10 states, from Arizona BusinessObserverFL.com. to Washington.
VIDEO
Distinctive
28 Years of Industry Leadership Extensive Investor and Funding Network Research and Financial Analysis Construction and Project Management
1335 2nd Street Sarasota, FL 34236 7267 Delainey Court Lakewood Ranch, FL 34240
951-1776 www.hembreeco.com
2I¿FH _ 5HWDLO _ ,QGXVWULDO _ 'HYHORSPHQW /DQG _ &RPPHUFLDO _ ,QYHVWPHQW _ ,QFRPH 3URGXFLQJ _ 3URSHUW\ 0DQDJHPHQW
118812
Government regulations sometimes smother the alcoholic beverage industry, but one recent rule change is a breath of life for local rum entrepreneur Troy Roberts. The change, which recently went into effect statewide, allows craft distillers to sell products, on a limited basis, in a retail setting. That activity had been banned for years, and any alterations were difficult, given how influential the alcohol distributor and liquor store lobby is in Tallahassee. But State Rep. Greg Steube, R-Bradenton, helped pass a law this year that relaxed the rules. Roberts, founder of Sarasotabased Drum Circle Distilling, makers of Siesta Key Rum, pounced on the changes. He opened a gift shop/ tasting room inside the facility, and has begun to sell products and give tours. He held a grand opening of the retail operation Nov. 2 attended by more than 400 people. Around 200 people, Roberts adds, took a guided how-it’s-made tour. About two-thirds of that group, estimates Roberts, had never tried Drum Circle’s award-winning rum before. Many of those customers left with two bottles — the maximum allowed in one purchase under the new regulations. “The thing about our rum is that
Re-Imagine
(941)
Square 1 Burgers & Bar is ready for other shapes, and locations. The Tampa-based burger chain plans to open four new Florida locations by the middle of next year. That would bring the statewide total to 10, including two locations in Sarasota and one each in Brandon, Fort Myers, St. Petersburg and Tampa. New stores are planned for Carrollwood, Gainesville, Lakeland and the Villages. “Burgers are the rage right now,” Square 1 President and CEO Joanie Corneil tells Coffee Talk. “There’s always a cream of the crop, and we happen to be in it right now.” Square 1 bought the building for the Gainesville location, while the other three will be leased. All of the company’s restaurants are company-owned, through a network of private investors. There are no franchise locations, and Corneil says that’s not a current part of the company’s strategy. The strategy, instead, is to focus on providing a gourmet burger experience through a menu, with Angus and Kobe beef options, that’s the anti-fast casual approach. Square 1 is waiter-
4
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
topstories from BusinessObserverFL.com TAMPA BAY
WellCare Health Plans removes CEO WellCare Health Plans Inc. announced that its chairman of the board, David Gallitano, has been appointed interim CEO, replacing Alec Cunningham. “As the company continues to expand and grow, the board felt that it was necessary to identify a new experienced leader to help write the next chapter for WellCare,� Gallitano says. The company says it is conducting a national search for a new CEO. The change came out the same day the company reported its third-quarter results, in which the company lowered its estimated range for fullyear profit from $4.70 to $4.90 per share to $4.70 to $4.80 per share. However, for the quarter, the company grew its profit by 67.1%.
quote of theweek
“�
Texans do work with Texans. Josh Evans | President of J.R. Evans Engineering, on the challenge of breaking into the Texas market. SEE PAGE 12
Entrepreneur center to get new home The University of Tampa has announced plans to construct a seven-story building on its campus. The building will contain three floors of academic and administrative space,
what do you think?
including a new home for the university’s Sykes College of Business Entrepreneurship Center, and four floors of parking. The 60,000-square-foot facility will house additional classrooms, faculty offices, student meeting and study areas, a campus safety center and the entrepreneurship center. The education and administrative spaces are scheduled for completion in early 2015. CHARLOTTE-LEE-COLLIER
HMA to repay government $31M Hospital operator Health Management Associates says it will restate three years’ worth of financial statements and is reimbursing the government for $31 million in incentives it improperly received. HMA, which owns and operates 71 hospitals in 15 states, says it improperly recognized $31 million in state and federal incentives for implementing electronic medical records technology at 11 of its hospitals. On Oct. 30, HMA says it withdrew the 11 undisclosed hospitals from the incentive program and will repay the federal and state agencies.
What’s your biggest insurance worry? Vote at BusinessObserverFL.com
Tribune publisher moves south The E.W. Scripps Co. has appointed Bill Barker regional publisher and chief revenue officer of the Naples Daily News effective Nov. 11. Most recently, Barker was president and publisher of the Tampa Media Group, parent company of the The Tampa Tribune. Barker succeeds Dave Neill, who resigned in August to become publisher of the Asheville (N.C.) Citizen-Times and a regional president for Gannett’s U.S. Community Publishing Group. Barker moved to Tampa in 2004 and was appointed vice president of operations and circulation for Media General’s south region. While in that position, Barker was responsible for digital and broadcast television operations in addition to newspaper publishing. SARASOTA-MANATEE
Homebuilder bolts past 700 annual sales Neal Communities surpassed 700 homes sales for the year in October — an annual tally that’s already bested all of 2012 by more than 100 sales. Last week’s question:
The Lakewood Ranch firm is one of the largest locally owned homebuilders on the Gulf Coast. It sells homes in 16 communities that span from Manatee County to Lee County. The company sold 54 homes in October, according to a release, which brings the year-to-date total to 712.
Former FCC chairman joins firm William Kennard, immediate past U.S. Ambassador to the European Union and former chairman of the Federal Communications Commission, has been named a senior adviser at Sarasota private-equity firm Grain Management LLC. The firm, founded in 2007 by David Grain, focuses its investments in the communications sector. Kennard will work out of the firm’s new Washington, D.C., office, where he will focus on investment opportunities in the telecommunications sector, including global opportunities. Grain Management also operates and leases cell phone towers. Kennard chaired the FCC for most of President Bill Clinton’s second term, from November 1997 to January 2001.
Are you dropping health care insurance for your employees because of Obamacare?
18.2% Yes 59.1% No 22.7% Not Sure
t 8PSME DMBTT MFBSOJOH BOE OFUXPSLJOH XJUI BO JOUFSOBUJPOBM QFSTQFDUJWF t 3BUFE BT B CFTU WBMVF QSPHSBN CZ Fortune NBHB[JOF t /BNFE CZ The Princeton Review BT POF PG UIF CFTU CVTJOFTT TDIPPMT JO UIF XPSME o t 3BOLFE UIF UI NPTU BGGPSEBCMF JO UIF DPVOUSZ CZ U.S. News & World Report 5IF &YFDVUJWF .#" QSPHSBN BU UIF 4ZLFT $PMMFHF PG #VTJOFTT QSPWJEFT FYQFSJFODFE CVTJOFTT QSPGFTTJPOBMT B DPMMBCPSBUJWF JOUFSEJTDJQMJOBSZ BQQSPBDI UP CVJMEJOH MFBEFSTIJQ TLJMMT GPS UIF OFX FDPOPNZ
Take the next step.
EMBA | MBA | M.S. in Accounting | M.S. in Finance | M.S. in Marketing | Nonprofit Management Certificate MBA Concentrations: Accounting, Entrepreneurship, Finance, International Business, Marketing, Innovation Management, Information Systems Management, Nonprofit Management
98316
Request more information at www.ut.edu/gradinfo or call (813) 258-7409.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
CoffeeTalk FROM PAGE 3
SBA 7a 25-Year Fixed Program
Hall of famer once galloped away When Junior Achievement when he was in high school, of Southwest Florida selects instead attributing the escawinners for it Business Hall of pade to a spirit of adventure Fame Award, the organization that is an essential ingredient asks the winners to dispense for entrepreneurs. Besides the advice to young people during construction company he cothe induction ceremony. founded with John DeAngelis, Sometimes, you might learn Diamond has funded more a little fact about the winner’s than 20 successful startups in DIAMOND youthful indiscretions during health care and technology as his or her acceptance speech. an angel investor. In that regard, David Diamond didn’t After a few weeks sleeping in hay disappoint. The entrepreneur who cobarns, Diamond says he reconsidered founded DeAngelis Diamond Construc- his equine adventure and returned tion in Naples told the 650 people at the home after he got tired of sleeping in Collier award dinner Oct. 29 that he the cold. But his taste for travel advenonce ran away from home to work on a tures hasn’t waned as he’s since visited horse farm up north where they taught remote locations such as Darfur, dressage to young college women. Sudan and southern Russia to raise Diamond says his parents weren’t awareness against human trafficking, to blame for his disappearing act his personal charitable endeavor.
For Owner-Occupied Commercial Real Estate
that’s GOOD Achieva is pleased to offer the SBA 7a Fixed Rate Program* providing loans to small business owners to purchase a facility to operate their businesses. • FIXED for the full term of 25 years. • NO BALLOON, fully amortized for the life of the loan. • 10% Cash Injection required, closing costs and fees may be included in the loan request.
Hertz spends millions to relocate
Rate is based on the SBA 7a Allowable Fixed Rate Pricing Matrix (updated and published monthly at SBA.GOV). Must meet SBA 7a requirements for eligibility.
$4.4 million. In previous filings, Hertz estimated it might spend as much as $30 million to $35 million to move its headquarters from New Jersey to Estero. And that doesn’t include construction of a new headquarters building in south Lee County, which economic development officials estimated at $69 million.
Contact our Business Lending Professionals to learn more.
BusinessLendingStaff@achievacu.com 727.431.7650 | 941.907.4850
Executives look to punt recession •
•
•
•
•
positive outlook for their business prospects over the next six months; Half will make capital investments over the next six months — though that’s a large drop from 68% in the spring survey; Nearly half, 47%, plan to hire within the next six months, up significantly from 34% in the spring and 30% in the fall. Plus, 41% plan to provide employees raises or bonuses this year. More than four out 10, 44%, say they have a greater appetite for risk than they did a year ago. Three out of 10 say the morale of their employees has improved over the last six months; Respondents report 19% revenue growth over the last three years. And more than half, 52%, are confident revenues will increase over the next six months.
Federally Insured by NCUA. Equal Housing Lender. 125248
The latest sign the recession is truly receding: Florida business owners, at least the ones who responded to an American Express Open Small Business survey, pay themselves, on average, $75,500 a year. That’s an increase of 21.5% over last year, when owners paid themselves a salary, on average, of $62,100. More than half the owners polled, 55%, pay themselves a salary, which, counter to the actual amount, is a drop from 61% last year, according to the survey. The report is derived from a survey of Florida small business owners and executives taken over telephone calls in September. Other survey nuggets are a play off the “what recession?â€? theme. Results include: • The rate of respondents who claim cash-flow issues for the next six months, 51%, is down, from 58% in the spring survey and 54% last year; • Almost two-thirds, 61%, have a
*Eligibility requirements and restrictions apply.
Insurance
• Nearly three-fourths, 73% of respondents, use outside firms for employee-benefit plans. But less than half of the companies polled take measures to help reduce fiduciary liability exposure. That includes failing to adequately review administrative fees charged to the plans. • About one in five companies, 21%, use cloud computing to store and retrieve data. Of those companies, only 54%, however,
have a response plan at the ready for cyber breaches and thefts, the survey reports. • More than four out of 10 companies, 42%, have broad policies against hiring people with criminal backgrounds — which is illegal in some states. • Less than half of the respondents, 49%, have a written social media usage policy for employees. Chubb Group of Insurance Cos. Senior Vice President Tracey Vispoli says the results are a surprise, especially given how litigious some of these situations have become. “Many private companies have not taken the loss prevention measures and have not purchased the appropriate insurance to help insulate themselves from litigation, government fines and their related financial and reputational consequences,â€? Vispoli says in a statement.
Bonding
R
Employee Benefits
Successful  individuals  and  businesses  have  unique  goals.  As  the  leading  choice  in  Southwest  Florida  for  business  and  residential  insurance,  Atlas  Insurance  will  help  you  define  your  needs,  handle  the  details  and  provide  unmatched  personal  service.
RISKY BUSINESS ALERT When an insurance company conducts a survey about how well firms mitigate risk, a self-serving element clearly abounds. A new survey from the Chubb Group of Insurance Cos. nonetheless points out some alarming issues. The study, the Chubb 2013 Private Company Risk Survey, is based on interviews with 450 executives of U.S. firms in which at least 90% had less than $25 million in annual revenues. Results include:
R
5RE %URZQ &,& ‡ Darren  B.  Howard,  CPCU 7KRPDV : .RFKLV &,& &50 ‡ 'DYLG : 0F0DKRQ 0%$ $$, &KULVWRSKHU 2œ%ULHQ ‡ -DUHG +DZNLQV :HQG\ $WNLQVRQ
National  Network.  Local  Presence.  Personal  Service. Offices:  Sarasota  ~  Port  Charlotte Â
941.366.8424 Â
www.atlasinsuranceagency .com
Serving Our Community for 60 Years.
113385
Hertz has started relocating its top executives from New Jersey to temporary office space in Naples and a recent filing shows how much the corporate relocation is costing the rental-car giant. Hertz recently says that it spent $3.9 million in the quarter ending Sept. 30 for relocation expenses. For the first nine months of this year, it has spent
5
6
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
BY THE NUMBERS
economicsnapshot
13.6 Auto sales The state’s year-over-year percentage increase in auto sales in July.
$5.0 billion (Florida statewide) 4.8 4.6 4.4 4.2
19
4.0 3.8
The number of areas out of 22 statewide that had doubledigit percentage increases in auto sales in July compared with July 2012.
2 The Naples area’s rank in the state in year-over-year auto sales gains, with a 22.4% increase. Palm Coast led the state with a 28.5% increase.
3.6 July 2012
Aug. ’12
Sept. ’12
Oct. ’12
Nov. ’12
WHAT THE DATA SHOW Taxable sales in this category include the sale of new and used cars, repair shops, auto-supply stores and taxable sales at gasoline stations. The latest data are for July. WHAT IT MEANS Most areas of Southwest Florida posted significant annual-percentage growth in auto sales in July compared with the state as a whole (up 13.6%). Southwest Florida auto owners delayed purchasing new cars during the economic downturn and they’re now replacing them. With the economic recovery more certain, Floridians are spending more freely on big-ticket items this year such as cars, furniture and appliances. FORECAST A recent dip in the consumer-confidence survey conducted by the University of Florida may be temporary as memories of the federal-government shutdown recede. However, any economic shock could have adverse impacts on consumers buying big-ticket items such as cars. But as long as employment continues to grow, the stock market continues to rise and the economy recovers, consumers are likely to continue replacing their older cars with newer models.
Dec. ’12
Jan. ’13
Feb. ’13
Mar. ’13
Apr. ’13
May ’13
June ’13
July ’13
JULY AUTO SALES AREA TampaSt. Petersburg SarasotaBradenton Punta Gorda Cape CoralFort Myers Naples
AUTO SALES ($ in millions)
% ANNUAL CHANGE
$618.3 11.1% $149.4 17.7% $28 15.3% $148.8 17.5% $64.3 22.4% Source: Florida Legislature Office of Economic & Demographic Research
November Membership Meeting 1031 Like-Kind Exchanges The Fundamentals of Completing a 1031 Exchange featuring
John Compton
Norton, Hammersley, Lopez & Skokos, PA and
Brent Myers, C.P.A. Brent J. Myers, P.A.
November 19, 2013 8:00 a.m. - Networking 8:30 a.m. - Meeting at
Sarasota Association of Realtors® 2320 Cattleman Road • Sarasota, FL 34240 Guests Welcome
Commercial Marketplace Share your listings, wants, needs and information. Enjoy networking with your fellow professional commercial Realtors®. 1st, 2nd and 4th Fridays at Sarasota Association of Realtors® and the 3rd Friday of each month at Manatee Association of Realtors®. Visit our website for upcoming dates and location information.
EDUCATION • NETWORKING • PROFESSIONALISM
106706
C O M M E R C I A L S A R A S O T A R E A L T O R S.COM
WWW.
125349
Is your Commercial Realtor® a CID Member? Insist on it for the highest level of market knowledge, education and professionalism. To inquire about joining CID as either a Realtor® or Affiliate Business Member, please call Marc Mansfield at (941)952-3410.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
infocus | economic development |
7
BusinessObserverFL.com BY JEAN GRUSS | EDITOR/LEE-COLLIER
LAURI KLAUS, founder and CEO of KeyedIn Solutions, says she might move the company’s headquarters from Minnesota to Southwest Florida.
JIMJETT.COM
take it Home CEOs used to move to Southwest Florida to get away from it all. Now, they’re bringing their businesses, too.
S
outhwest Florida used to be a place where CEOs could get away from their businesses, a quiet retreat from hectic corporate life in the Midwest and Northeast. But CEOs moving to counties such as Lee and Collier are increasingly bringing parts or all of their operations to the area. Consider L au r i K laus, t he founder and CEO of KeyedIn Solutions. The Minneapolis-based compa ny prov ides sof t wa re t hat helps organizations become more efficient by simplifying processes and improving performance. Klaus says she may move the company’s headquarters to the Fort Myers-Naples area after she and her husband, George Klaus, moved to the Bay Colony golf resort in Naples a year ago. “There’s
no reason not to except the cost of rebranding. In six to 12 months we’ll consider that,” says Klaus, who recent ly celebrated t he grand opening of a KeyedIn office in Fort Myers. Two senior KeyedIn executives already live in the region, including one vice president of finance and another who is vice president of research and development. “My only concern is that my Minnesota office is going to want to move here,” Klaus laughs. Klaus joins other CEOs who live in the area and have moved their firms here. Hertz CEO Mark Frissora has a home in Naples and so does Jim Beré, the CEO of Alta Resources. Hertz is relocating its corporate headquarters to south Lee County from New Jersey and Wisconsin-based Alta recently
“”
opened a 400-employee call center in Fort Myers. Like other CEOs, Klaus says she was surprised to find a significant number of qualified prospective employees to meet her company’s needs. “We found the talent is diverse, and it’s not just engineering,” she says. She’s hired 10 people for a variety of positions in a new office near Interstate 75 and Daniels Parkway in Fort Myers and has plans to double that over the next year. In particular, Klaus cites the large talent pool that is coming from local universities and colleges. For example, there are more than 14,000 students attending Florida Gulf Coast University in Fort Myers. “We’re big proponents of hiring from universities,” she says. Klaus also cites lower costs of
ever y thing from a lunchtime sandwich to housing visiting colleagues at area hotels and the fact that Florida has no income tax. “We found the cost of doing business is quite attractive,” she says. Klaus, who built a 1,400-employee operation at Epicor Software, now has 80 employees at KeyedIn, up from four people just more than two years ago. “We’ll at least double revenues this fiscal year,” she says, declining to share more specific financial information. Fort Myers is KeyedIn’s fifth location in the U.S. For example, tech research firm Gartner has a significant operation in Fort Myers, she notes. “This is more of a tech area than we would ever have guessed,” Klaus says. Follow Jean Gruss on Twitter @JeanGruss
This is more of a tech area than we would ever have guessed. Lauri Klaus | KeyedIn Solutions
8 infocus | retail |
BusinessObserverFL.com
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BY MARK GORDON | DEPUTY MANAGING EDITOR
LORI SAX
LORNA NAGLER was named president of Bealls Department Stores in early 2011.
look AGAIN
Change doesn’t come easy at a 98-year-old business. A key tactic at one statewide department store chain, says an executive, is to recognize ‘value is not just about price.’
B
ealls Inc. executive Lorna Nagler received looks from quizzical to doubtful when she recently took a revamped image of the Bradenton-based retailer on a trip to New York City. After all, the chain’s 74 department stores, from Tallahassee to Naples to Jacksonville, are known to cater to an older customer. That’s traditionally someone who fits snugly into the Sunshine State’s stereotypical retiree mold. Nagler, though, now delivers a new message to industry buyers, competitors and customers. It’s one that Bealls, which also operates a separate outlet store unit with 460 locations in 17 states, can be more than a shop around the corner for seniors. Brands the department stores now carry, for example, include shoes designed by guitar rocker Carlos Santana; urban fashion line Baby Phat; and clothes from pop star Jessica Simpson. The tagline is “Take a Brand New Look.” In essence, Bealls wants to get
“”
younger — but not too young. “We understand our mission and who we are,” Nagler says. “This is an innovation and an evolution, not a major revolution.” Adds Nagler: “We are never going to be the young millennial. That’s never going to be our space.” Moreover, g iven how entrenched Bealls Inc., founded in 1915 by Robert Beall Sr., is with a Florida-centric customer, any alteration to the mission is significant. That’s probably why Nagler, named president of the department store division in early 2011, recently surprised industry insiders at a New York trade show when she boasted about the new brands. Says Nagler: “They may be thinking of the Bealls from 10 years ago.” The shift involves a balance of satisfying current customers while attracting and retaining new ones — a tough task in any field. In retail, however, where margins are silky thin, it can be daunting.
Bealls Inc. had $1.23 billion in 2012 sales, up 5.6% from $1.17 billion in 2011; the firm doesn’t break out revenues by divisions. The former CEO of Plymouth, Minn.-based retailer Christopher & Banks, Nagler began the Bealls makeover about two years ago. She visited every store. She watched people shop. She learned Bealls, in an effort to maintain a customer base in the downturn, over-emphasized low cost at the expense of choice. “We were focused on price, not product,” says Nagler. “But value is not just about price. We probably had underestimated the capacity of our customer to go younger.” So Nagler set out on a mission to add more brands, especially bigger and bolder ones. Additions include surfing brands, high-end shoes and athletic additions, from Adidas and Asics to Nike and PGA Tour gear. Nagler shifted marketing dollars to get the message out, rather than add significantly to the budget.
The company has a large direct mail campaign, for one, which targets specific niches, such as people with children and single women. Bealls has also started to remodel some of its stores, including its Jupiter and Fernandina Beach locations. And Nagler recently hired a marketing director, Sean Sondreal, who previously ran marketing departments at Harbor Freight Tools and Kohl’s Department Stores, a top Bealls competitor. While Nagler moves ahead in the brand evolution mission with enthusiasm, she’s also cognizant of what she doesn’t want to do. Foremost on that list is anything like the gaffe-cum-disaster at JCPenney in 2012, when former CEO Ron Johnson attempted to retrain customers to not rely on discounts. “The previous regime at JCPenney’s tried to fire their core customer,” says Nagler. “We won’t do that.” Follow Mark Gordon on Twitter @markigordon
We are never going to be the young millennial. That’s never going to be our space. Lorna Nagler | Bealls Department Stores
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
infocus | technology |
9
BusinessObserverFL.com
BY JEAN GRUSS | EDITOR/LEE-COLLIER
Find the veins
Joseph Magnant is a vascular surgeon who uses technology to find new patients. He plans to sell his idea to other physicians.
W
hen vascular surgeon Joseph Magnant moved to Fort Myers in 2006, he had to build his surgery practice from scratch. So it’s no surprise that the entrepreneurial doctor and owner of Vein Specialists in Fort Myers has ventured into Web marketing with a mobile-phone app. Now, prospective patients can download an app for their Android or iPhone and send in a photo of their varicose veins for Magnant to review. Patients can do the same via a companion website called eVeinScreening.com. Surprisingly, 66 prospective patients have used the secure service since Magnant launched both the app and the site in May. Meanwhile, another 121 prospective patients contacted Magnant for an initial consultation via his own practice’s website, WeKnowVeins.com. A QR code in local newspaper ads he publishes links readers to his website. Magnant estimates he’s spent a total of about $100,000 on his online marketing efforts, including about $30,000 for eVeinScreening. But when you consider that the average patient generates about $3,000, Magnant says the investment in technology will pay off. “We’re almost to break even,” he says. Now, the enterprising doctor is planning to sell this service to other physicians around the country, though the fees haven’t yet been established. Anyone who visits eVeinScreening.com will be able to view a list of vascular surgeons who pay a fee to become members of his referral program. Besides eVeinScreening.com, Magnant purchased another 100 websites with similar-sounding
names such as eFootScreening.com to develop in a similar fashion. “He really goes outside the box in building the business, building the brand,” says Luis Campos, president and founder of Damonaz Designs, the Web-development firm helping Magnant. “Out of all my clients, Dr. Magnant would be in the top in how he promotes his brand.” Magnant had been part of a busy 130-person group practice in Georgia and bought a couple condos during the boom in 2005 to be closer to his parents. But when he moved to Fort Myers with one employee in 2006, he had to start selling because he didn’t know anyone here. “I was in survival mode,” says Magnant. Weekends were spent manning a booth at medical and home shows while he courted physician referrals during the week. “I’m selling every day,” says Magnant, who is now opening a second office in Bonita Springs. Magnant acknowledges that the consultation over the Web and mobile phone means he’s giving up the revenue from an initial visit. “I’m giving up a couple co-pays,” he says, noting that he doesn’t provide a diagnosis with the online service but can arrange for tests such as ultrasounds. “The procedure is where the money is made,” he says. The website and mobile-phone strategy also is a way to identify those prospective patients who are most likely to do something about their condition. “This is empowering people to take control of their health,” he says. Follow Jean Gruss on Twitter @JeanGruss
BRIAN TIETZ
Vascular surgeon JOSEPH MAGNANT is using mobile apps and websites to find prospective patients.
The Patient Protection and Affordable Care Act is the largest overhaul of the United States health care system since 1965. Big changes in government result in misconceptions, miscommunication and plenty of misinformation.
Taylor T. C ollins,
CEBS, CLU, RHU
Taylor@ProfessionalBenefits.org
Deborah Johnson
DebbieJ@ProfessionalBenefits.org (941) 957-1310
Whether you're a business owner, employee or individual, we know you have questions. And this decision is too big to rely on word of mouth. We're the most certified independent insurance group in the area. We've read the legislation (all 906 pages of it), met with the decision makers in Tallahassee and Washington, D.C., and signed up on Healthcare.gov. There's no limit to our resources when it comes to your health insurance needs. So set up a consultation with us today.
117650
contact:
10 infocus | insurance |
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
BY TRACI MCMILLAN BEACH | CONTRIBUTING WRITER
buying
BROKERS
MARK WEMPLE
JOHN CONNELLY, founding director of Connelly, Carlisle, Fields & Nichols insurance agency, is now chief executive officer of Hub International Florida.
Brokerage giant Hub International recently acquired Connelly, Carlisle, Fields & Nichols from USAmeriBank. The move opens a new frontier in Florida for the insurance firm.
W
hen Tampa-based USAmeriBank was presented with a $4.5 million cash offer to sell the insurance brokerage firm it bought 10 months earlier, it was easily persuaded. The quick sale wasn’t due to lack of performance — Connelly, Carlisle, Fields & Nichols (CCF&N) was growing quickly — but rather the insurance firm and the bank saw it as an opportunity to expand services for the firm. The deal meant CCF&N would benefit from its acquirer’s larger brand, Hub International, but would still be able to maintain a strong relationship with USAmeribank and its clients. John Connelly, president of CCF&N, says executives of the bank and the agency quickly concluded “in order to pace the growth that (the firm has) been growing at, we need access to more tools.” Connelly says USAmeriBank’s deal with Hub International is good for his firm’s clients, good for the bank’s clients, and an all-around “tremendous business opportunity.” It’s a bold statement coming from Connelly, a USAmeriBank shareholder and one of the bank’s original organizers. Connelly’s agency, which was made up of 90 employees, has folded into Chicago-based Hub
“”
International, one of the world’s 10 largest insurance brokerage firms, touting more than 6,000 employees. CCF&N works with clients to match them with homeowners’ insurance, flood insurance, and car insurance, in addition to providing businesses with commercial coverages. Working with Hub, a small insurance brokerage can attract more insurance agency partners and more talent, Connelly says. CCF&N previously sold coverage from 22 insurance companies. With Hub’s 365 locations, the firm now has access to products from more than 80 insurance companies, which allows CCF&N to provide a wider variety of options to its clients. In addition, the firm now has access to an in-house team of risk attorneys, Affordable Care Act experts, and a loss-control team. With the acquisition, Connelly was asked to lead Hub Florida, taking on its existing offices in Boynton Beach, Fort Lauderdale, Venice, and Sarasota, in addition to his current offices in Clearwater and Tampa. Hub wanted to expand its operations in Florida because the state is the thirdlargest insurance market in the country. It’s also one of the most difficult for out-of-state brokers
to understand, Connelly says, due to wind coverage, flood insurance and special regulations for independent groups with fewer than 50 employees. Connelly points to other Hub success stories as evidence that the acquisition will only help his firm grow. For example, over the last eight years, Hub has grown nine times larger in Boston. During the next three years, Connelly expects the Florida division to triple in size, through acquisitions and organic growth. He says Hub is also a leader in buying firms, having completed more than 300 acquisitions. Connelly says Hub makes a good fit as a parent company because, “For the vast majority of those acquisitions, people don’t want to give up management, but they want more capabilities, more tools.” Connelly, who’s been working in the insurance industry since 1977, says he’s received several calls from groups in smaller cities looking for a way to join Hub International. He’s also started to reach out to his contacts, to see if they have interest in the joining the group, hoping to announce a Florida acquisition by the end of the year. “The state of Florida is a big state, so I have a lot of territory to
cover,” Connelly says. He plans to enter Florida’s other four major markets, Jacksonville, Orlando, Miami and Naples, in the near future. Meanwhile CCF&N is already bringing value to Hub International, Connelly says. Hub’s Boston office recently reached out for assistance on insurance regulations for Florida manufactured housing communities. Connelly’s agency represents more than 330 such communities in Florida, and was able to get the branch in touch with an experienced law firm, accounting firm, banker, and four insurance agencies. His firm also represents more than 600 churches in Florida, another niche area that the Hub offices can tap into, Connelly says. Despite being a big chain, Hub came in saying “there’s no new employee manuals, no changing. But, if there’s anything we can do, provide insurance contacts or access to tools, you let us know. It’s your business,” Connelly recounts. Connelly says the firm has no plans for layoffs, and thus far, the firm is on target to continue to grow 10% to 15% this year. “We’ve experienced rapid growth over the last eight years, and I expect that to continue,” Connelly says.
We’ve experienced rapid growth over the last eight years, and I expect that to continue. John Connelly | Hub Florida
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
calendar
of NOVEMBER 12
REAL TRENDS: Randy Thibaut, president of Land Solutions, will discuss real estate market trends at 5:30 p.m. at the Miromar Design Center, 10800 Corkscrew Road, Estero. Cost is $25 for members and $50 for others. For more information visit bia.net THIBAUT or cbia.net. WOMEN IN HEALTH CARE: Women in Healthcare Leadership will hold an all-day health care leadership education summit for women at the Center for Advanced Medical Learning and Simulation, 124 S Franklin St., Tampa. For more information visit wihl.org.
CATTI
GBUREK
BANK UPDATE: Joseph Catti, president and CEO of FineMark Holdings, and Jim Gburek, IberiaBank’s regional president for Florida, will speak at a CFA Society of Naples meeting on banking. The meeting will start at noon at McCormick & Schmick’s Seafood Restaurant, 9114 Strada Place, Naples. Cost is $30 for members and $40 for others. For more information visit cfanaples.org.
and $35 others. For more information call Lisa Reeder at 941-748-3411 or email LisaR@ManateeChamber.com.
NOVEMBER 16
APP LIFE: The Tampa Bay Technology Forum will host an all-day application development conference. The event will run from 8 a.m. to 6:30 p.m. at the Tampa Convention Center, 333 S. Franklin St., Tampa. For more information visit tbtf.org.
NOVEMBER 18
ANGEL INVESTING: Seth Joseph and James Walker IV, shareholders at Carlton Fields, will discuss using electronic media to access accredited investors under
11
events
new Securities & Exchange Commission rules. Michael O’Donnell, founder of the Florida Angel Nexus, will also discuss how to prepare for a company’s investment round. The event will run from 11:30 a.m. to 1 p.m. at the office of Carlton Fields, 4221 W. Boy Scout Blvd., Suite 1000, Tampa. For more information visit tampabaynov18.eventbrite.com. VENTURE CAPITAL: Scott Relf, founder of Infinite Growth Group; Entrepreneur John Gamba; and Angelo Biasi, founder and CEO of MassiveU, will speak at an event presented by Fusion Pointe, formerly the Gulf Coast Venture Forum. The meeting will run from 5 p.m. to 7:15 p.m. at the Naples Hilton, 5111 Tamiami
Trail N., Naples. Cost is $35. For more information visit FusionPointe.org.
NOVEMBER 19 FUNDING GROWTH: Tom Wallace, president of IDS Corp.; Althea Harris of the U.S. Small Business Administration; William Blevins, senior vice president of commercial lending for Encore Bank; and Brian Rist, president and CEO of Smart Cos., will discuss business financing at a meeting of the Above Board Chamber. The meeting will run from 11:30 a.m. to 1 p.m. at The Landings Yacht, Golf and Tennis Club, at 4425 S. Landings Drive, Fort Myers. For more information call 239-9195888 or visit Aboveboardchamber.com.
IF IT INVOLVES LAND, WE HAVE THE SOLUTION.
NOVEMBER 13
NOVEMBER 15
ECONOMIC LIBERTY: Nikolai Wenzel, visiting assistant professor of economics in the Lutgert College of Business at Florida Gulf Coast University, will be the featured speaker at the Ayn Rand Society’s November program. The meeting will run from 5:30 p.m. to 8 p.m. at the Renaissance Academy, Naples Auditorium, 1010 Fifth Ave. S., Naples. For more information visit RegisterRA.fgcu.edu or call 239-434-4737. DRIVING DIRECTIONS: Richard Broome, senior vice president of corporate affairs and communications with Hertz, will be the guest speaker at The Speakers Assembly of Southwest Florida luncheon. The event will start at 11 a.m. at the Hyatt Regency Coconut Point Resort and BROOME Spa, 5001 Coconut Road, Bonita Springs. Cost is $45 for members and $55 for others. For more information visit SpeakersAssembly.com or call 239-948-7909. BUSINESS REGULATIONS: Ken Lawson, secretary of the Florida Department of Business and Professional Regulation, will speak at a luncheon presented by the Manatee Chamber of Commerce. The meeting will run from 11:30 a.m. to 1 p.m. at the Bradenton Country Club, 4646 Ninth Ave. W., Bradenton. Cost is $25 for members
Ê9"1½, Ê 19 ]Ê- ]Ê <" Ê",Ê 6 1 / ] WE’VE GOT YOU COVERED! Our “one-stop” concept, market research expertise and dedicated team approach helps builders, developers, lenders, and investors find the right solution every time. From acquisition to disposition and every step in between, we have the solution you need.
UÊ VµÕ Ã Ì Ê> `Ê Ã« Ã Ì Ê À iÀ>}i UÊ ÃÃiÌÊ > >}i i Ì UÊ ÛiÃÌ ÀÊ,i >Ì Ã UÊ >À iÌÊ,iÃi>ÀV ÊEÊ,i« ÀÌ } UÊ i ` }ÊEÊ, "Ê > >}i i Ì UÊ iÛi «iÀÊ7 À ÕÌà UÊ i}> Ê-iÀÛ Vià UÊ Ã }Ê À` >Ì UÊ Ì Ì i i Ìà UÊ< } UÊ VÕ i ÌÊ*Ài«>À>Ì UÊ ÃÃiÌÊ >À iÌ } UÊ ÕiÊ }i Vi UÊ*iÀ ÌÌ }ÊEÊ « > Vi
More Than Just Dirt. 119850
ACHIEVEMENT AWARDS: The Argus Foundation will honor Frederick Derr of Frederick Derr & Co. and C. Dana Rollings (posthumously) at the annual Lifetime Achievement Awards. The event will start at 6 p.m. at the Hyatt Regency Sarasota, 1000 Boulevard of the Arts, Sarasota. For more information contact Sharlene at 941-365-4886 or shill9448@aol.com.
12
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
INSURANCE
BY JEAN GRUSS | EDITOR/LEE-COLLIER
BRIAN TIETZ
JOSH EVANS, president of J.R. Evans Engineering, and ELIZABETH FOUNTAIN, vice president, help property owners appeal for exclusion from high-risk flood zones.
out of the
ZONE
Engineer Josh Evans had the foresight to see how flood insurance was going to be a big issue. His firm now has the inside track helping coastal clients mitigate higher costs.
F
or years, flood insurance was a sleepy area of the insurance industry. It was relatively affordable and most parts of Florida weren’t affected anyhow. But that quickly changed when the government decided to redraw antiquated maps, turning wide swaths of Southwest Florida land into f lood zones and forcing property owners to consider insurance. Josh Evans saw it coming. In 2010, t he Wi lsonMi l ler alumnus started J.R. Evans En-
gineering in Estero, specializing in helping landowners appeal to have their properties removed from the riskiest flood zones. That effort has taken on special urgency now that the federal government is scheming to raise flood-insurance rates. It’s big news because some property owners are reporting huge spikes in premiums. So far, Evans estimates he’s helped landowners save $2 million in annual flood-insurance premiums. His 15-person firm is now working on projects that will save landowners another $1 million in premiums every year.
Even more critical than insurance rates, the law limits whether property owners can rebuild if a building is destroyed in a highrisk f lood zone. That fact can easily def late property values and make it virtually impossible to sell because of the inability to rebuild in the future. In addition to the flood-insurance work, Evans says he’s seeing a resurgence of residential land-development projects that include water-related engineering challenges. He says there’s at least three years’ worth of such work in the pipeline, barring unforeseen disasters. “It’s insane
right now,” Evans says. “There’s a massive shortage of new homes.” Evans declines to cite financial performance for his firm, but he says it’s growing fast. “We’ve doubled in size every six months for the last two years,” he says. INSURANCE SPIKES For commercial buildings and condo communities, where they fall in the redrawn flood maps can make a huge difference in insurance premiums. For example, Bonita Vandall, community association manager with Resort Management in Naples, says one community she
EXECUTIVE SUMMARY Company. J.R. Evans Engineering Industry. Engineering Key. The engineering firm found a lucrative niche.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
GROWING THE FIRM Evans says he’s been able to grow his engineering firm by reinvesting the profits. He’s not keen on building his firm too quickly for fear of having to lay off employees if there’s another economic downturn. “I see the opportunities to be exponential,” he says, but he adds: “We’re grow ing cautiously.” For one thing, the f lood-
insurance rate increases may not be as extreme if Congress decides to continue to subsidize coastal property owners. Evans claims no special insights into politics. “I don’t know what’s going to happen,” he says. “What we’ve been doing is relatively cutting edge.” “Less than 5% of the policies written are really being significantly impacted with the rate increases,” says Sumner. Older commercial buildings and non-primary homes built in flood zones are most vulnerable to rate increases, he says. News of some extreme rate increases and political uncertainty are fueling concerns, however. “There’s a lot of hype out there with some of the changes and it’s definitely what people are focusing on now,” Sumner says. Evans says his firm has a long
13
“”
We’ve doubled in size every six months for the last two years. Josh Evans | J.R. Evans Engineering
list of projects that include thousands of parcels, including about 50 large-scale ones. “We have a decent amount of momentum,” he says. The flood work represents about 50% of the revenues of J.R. Evans and the other 50% is land-development work. “Our biggest client is Pulte Homes,” he says, noting that he’s working on three Pulte projects that encompass 600 to 800 acres each in Southwest Florida. To further diversify, Evans has
launched another firm called KMF Environmental Consulting to evaluate and help companies prevent contamination from fuel tanks. He’s also starting another firm to help clients with clean-water extraction and use. “I funded them through the profits of the company,” he says. In the end, J.R. Evans is more limited by the ability to recruit the top people. “It’s more expertise-intensive than capital,” Evans says.
STAEBLER APPRAISAL + CONSULTING Replacement Values and Construction Cost is OUR BUSINESS!
WE ARE YOUR
FLORIDA EXPERTS FOR + INSURANCE APPRAISALS + RESERVE STUDIES + COST SEGREGATION ANALYSIS
941.705.0123 | StaeblerAppraisal.com
124860
oversees with 19 buildings in the flood zone could face flood insurance annual premiums of $55,000 a year. If J.R. Evans’ request for a map change is approved, some of those buildings will be removed from the riskiest flood zones and premiums will total $21,000 a year. In another case, David Sumner, executive vice president with Insurance and Risk Management Services in Naples, says he’s working with J.R. Evans to remove two buildings from a high-risk zone to save the owners $10,000 in premiums. Just 10 feet of the property is in the high-risk zone, so both buildings were lumped into that flood zone, he says. “You really need the expertise of an engineer,” Sumner says. Evans says it’s important not to file frivolous requests for a map change from the Federal Emergency Management Agency, the government agency overseeing the flood-map program. As a result, none of Evans’ requests has been turned down. “FEMA appreciates the input to their model,” he says, noting that it provides more detail for their maps. “They know our firm.” “It’s a process and you’ve got to know who to talk to,” says Sumner, who has referred clients to Evans. “That’s a key component.” Of course, the science that backs up a request for a map change is a report several inches thick, often 300 to 400 pages of conclusions and supporting data on a variety of factors from ocean tides to the mitigation of dunes, vegetation and other barriers. For a condo building on the beach, it costs between $40,000 to $80,000 to seek a map change, Evans says. Because of t he ex pense of such an endeavor, Evans’ work is limited to commercial buildings and condo towers, especially in built-up areas such as Marco Island in Southwest Florida and Sunny Isles on the east coast. Evans lays the groundwork by doing extensive research on those areas before he starts canvassing building owners. Still, Evans has helped remove entire residential communities such as 51 multifamily residentia l buildings inside Rapallo in the Estero area of south Lee County. Initially, Evans acknowledges that building owners are surprised by the high cost of the engineering study that backs up a map-change request. But once owners realized the savings in premiums, the cost isn’t as much of a barrier. “They tell their neighbors,” he says. “Once we do one or two, it’s viral.” A lthough most of Evans’ work is focused on South Florida, he’s expanded to Texas, where his firm is evaluating a map-change request for a building in Galveston. Evans acknowledges that going outside of Florida may prove challenging. “Texans do work with Texans,” he says.
BusinessObserverFL.com
14
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
STRATEGIES
T
ampa ironworker Tommy Sims suf fered a thumb injury so brutal at work one day in 1959 that doctors used skin grafted from his chest to heal the digit.
BY MARK GORDON | DEPUTY MANAGING EDITOR
simulate
SUCCESS
The business manager of Ironworkers Local 808, and at that point, a lifelong ironworker, Sims decided to get out of the business — too dangerous. His next move: He bought a tow truck and planted a crane in the back. He called his one-man startup Sims Crane. Sims essentially traded one hazardous field for another. But in the process he created what’s now a three-generation firm that, after surviving several downturns and recessions, is one of the largest crane firms in Florida. With more than $60 million in annual sales this year, it’s also one of the 15 largest crane firms in the country, according to American Crane and Transport magazine. Clients at the firm, which rents and sells cranes, stretch from Naples to Jacksonville and the Florida Keys to Tallahassee. It has 10 locations and 300 cranes in operation statewide. The firm Sims founded is now at a strategic crossroads after 50-plus years. That ranges from new sales and marketing techniques to a different approach to running staff meetings to a revamped branding campaign, down to the colors and logo. It also includes a series of more than 30 safety videos and other short YouTube movies that show the firm’s quirky, folksy and funny side. “We want to reshape our image,” says Dean Sims II, vice president of marketing and Tommy Sims’ grandson. “Both externally and internally.” The company wants to time the makeover mission with a construction industry rebound. Based on some data, that’s already begun. Nationwide construction employment, for example, increased by 20,000 people in SepSims Crane & Equipment tember over August, according to the AssociatYear Revenue %growth ed General Contractors 2010 $30 million of America. Industry 2011 $35 million 16.7% spending, adds the lobbying organization, is 2012 $48 million 37.1% up five straight months, 2013 $63 million (projected) and the sector’s unem-
AT A GLANCE
Sales at one of the largest crane firms in the country, a Gulf Coast-based business, are up 110% since 2010 to more than $60 million. Will the construction industry climb along?
Source: Sims Crane & Equipment ployment rate, 8.5%, is at a six-year low. A new study from $70 million McGraw Hill Construction contrasts those 50 data. Issued in late October, the report states 30 $63 million (projected) commercial construc10 tion value levels, in MARK WEMPLE Florida and the Tampa DEAN SIMS II, 31, is vice president of marketing at Tampa-based Sims Crane & Equipment. 2010 ’11 ’12 ’13 region, are down from The firm projects $63 million in 2013 sales. 2012. The amount of all commercial building contracts awarded for upcoming a gap in regions of the state that are 2010 at $30 million. mer. The goal, says Sims, is to create construction in Hernando, Hillsbor- doing well and not doing well. “CerSims Crane is also on a hiring an impression of the company that’s ough, Pasco and Pinellas counties, tainly statewide things seem to be binge. It’s hired more than 80 em- consistent in everything it does and for instance, dropped 12% year-to- improving,” Dougherty-Slapp says. ployees in 2013, which brings its clearly defined by every employee. date compared with the first nine “We are all trying to figure out if this payroll to around 300. The firm had The firm’s mission, he adds, is now months of 2012. recovery is sustainable.” dropped from about 425 employees more like a “brand promise” that More ominous: The value of new in 2007 to around 190 in 2010. all employees should use to define commercial building contracts in MORE SERVICES The revamped Sims basically their work. The promise reads, in the Tampa region dropped 75% in Sims Crane, despite the conflict- started three years ago, when the part, “You’ll find confidence in the September over September 2012, ing data, seems like it’s in post- firm created a marketing depart- level of awareness, pride, and perfrom $71.53 million to $23.36 mil- recession growth mode. Annual ment for the first time. Dean Sims sonal involvement we bring to jobs lion. The year-over-year decline in sales at the firm are up at least 30% II, whose father, Dean Sims, is CEO big and small.” September for all of Florida, reports in each of the last two years, to a of the company, runs that unit. The Says Sims: “We have never had a McGraw Hill, is 55%. projected $63 million in 2013. It’s younger Sims has nearly doubled guide for our brand. It was always Construction industry leaders a back-to-the-future moment for the sales staff in the last three years, hodgepodge.” and executives see the disparity in the company, which set an all-time from around 22 to more than 40 Sims also says the company data, too. Gulf Coast Builders Ex- sales record in 2007 with $62 million people. learned from one key mistake it change Executive Director Mary in revenues. That figure, though, fell He also led the firm on a rebrand- made in the recession. That’s when Dougherty-Slapp also says there’s each year until it bottomed out in ing effort that kicked off last sum- it failed to aggressively go after new
EXECUTIVE SUMMARY Company. Sims Crane & Equipment Industry. Construction Key. Firm seeks to bond generations of employees together.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
work, especially outside Florida. “We didn’t chase market share,” says Sims. “We rode the wave with our existing clients.” The company has also diversified its services. For many years, it was a rental business. It would rent cranes and provide work crews, or in some cases just the crane and equipment. But now the company has a unit that does heavy hauling of large construction equipment, an intricate process. Sims Crane has a stable of about 50 trucks devoted to the work. “For not being a trucking company,” says Sims, “that’s a lot.” Another new department does rigging work, which, like heavy hauling, is complicated. The work involves lifting and moving large machinery, from commercial air-conditioning units to MRI machines. The firm works with hospitals and schools, among other clients, says Sims. The rigging unit has about $1.25 million in sales this year. Sims Crane, finally, will do on-site consulting work and detailed 3D lift planning for clients. Says Sims: “We try to provide all the pieces.” EXPANDED MINDSET The expanded sales team melds those pieces together. Sims and his staff recently revised the firm’s sales training program, which emphasizes product education. “This is something you really need to know a lot about to sell,” Sims says. Back in the early 1960s Tommy Sims, Dean Sims II’s grandfather, didn’t know much about cranes. But he learned quickly. He upgraded from his rigged tow truck to a large stand-
“”
BusinessObserverFL.com
ZOO ROOM
alone crane truck in 1961. By 1965 he had three cranes, and by 1972 the firm was a player in Florida’s boom: Clients included Disney World, then in its infancy, and Mosaic, where it provided machines for phosphate mining operations. The company, says Sims, was one of the largest crane operators in the world by 1978. The high-inflation recession of the early 1980s, however, flattened the business. It took more than a decade to regain lost market share, Sims says, but by the mid-1990s the firm had expansion on its mind. It opened an office in Mulberry, Polk County, in 1998. In the 2000s the firm started to buy other crane companies statewide. ‘CITIZEN CRANE’ Dean Sims, 31, has been with the company full time since 2005, but he basically grew up in the crane industry. In addition to fostering a new brand, Sims also seeks to blend the two sides of the firm from an experience perspective. It’s a large challenge because there are both a good amount of veteran employees who have been with the company for decades, and new workers who only have a few years of experience. One method the firm uses to connect the two generations is what Sims calls “win-win” meetings. These are staff meetings where everyone goes around the room, before a business discussion, and shares one win in business, such as a sale, and one win in his or her personal life. Another way the firm connects employees is through the series of videos, which it calls the “Sims Crane Minute.”
15
Deer hunting season in Florida and Georgia means one thing for many employees and managers at Tampabased Sims Crane & Equipment: Don’t expect to find them home on weekends. They will instead be in the woods on hunting excursions. The sport, in fact, has hooked many of the firm’s 300 employees, from CEO Dean Sims on down. Salespeople often take clients on hunting trips, and many employees go in groups. “A lot of people we do business with know us for being hunters,” says Dean Sims II, vice president of marketing. Sims II is Sims’ son, and he’s the grandson of the founder, Tommy Sims. Adds Dean Sims II: “We have a long history of hunting with clients. It makes The videos are made mostly for end users of the firm’s cranes and gear. But unlike many standard (read: boring) industry safety videos, the Sims Crane gang uses comedy and satire to make a serious point. Some videos mimic reality TV shows, while others have a 1950s film noir feel, like one clip entitled “Citizen Crane.” The videos are filmed and edited in conjunction with Litewave Media, a Tampa-based video production firm. And while Sims aims for fun, he won’t do it at the expense of the company’s
for good camaraderie and fellowship.” The prey also makes for good wall decorations in several offices in the company’s Tampa headquarters. The break room, moreover, is a unique catchall place for all kinds of taxidermy. That room has everything from deer to water buffaloes. reputation. “We want to look like construction workers who know how to build stuff,” says Sims. “We don’t want to look like carnival workers. (But) a little humor goes a long way.” Sims hopes all the changes at Sims Crane, from videos to branding to sales training, will go a long way toward helping the firm meet its growth goals. One big target: to surpass $100 million in annual sales within three to five years. Says Sims: “I think we can certainly achieve that.”
We want to reshape our image. Both externally and internally. Dean Sims II | Sims Crane .
THE POWER OF GLOBAL. THE KNOWLEDGE OF LOCAL. For Sale - New Low Price
Are recognized healthcare leaders and your PPACA Specialists
1401 S. Tamiami Trail, Osprey, FL 34229 1.46 Acres on the corner of US 41 & Habitat Blvd, Osprey, FL. Located near the Oaks and other great neighborhoods. Daily traffic count is 35,000 cars. This is a fantastic opportunity for a community service facility, day care, family medical or dental practice, office, and other neighborhood related uses. Owner is Motivated.
SALE PRICE $479,000 Bill Rex | 941-350-5253 Janet Robinson | 941-487-2100
For Sale - Value Added Investment Properties
3449 Technology Dr, Nokomis, FL 34275 Great opportunity for investors or owner/users for these value added 11 single units. All have approximately 468 SF of A/C office with the balance as warehouse with restroom and range between 1,489 SF-1,633 SF. All but one have tenants in place. Sold individually for $127,000 each.
Josh Kitchner (941) 753-3053 ext 227 (941) 726-3817 – Cell # 12P[JOULY'27PUZ JVT
FOR SALE $1,397,000 Janet Lincoln | 941-487-2104 Janet Robinson | 941-487-2100
Mark Christiansen (941) 753-3053 ext 221 (941) 735-2412 – Cell # 4*OYPZ[PHUZLU'27PUZ JVT
For Lease-2200 Murphy Ct, North Port FL
Class A 42,000 SF warehouse distribution center, 1 mile west of I-75 & 1.5 mile east of US 41. 3 Phase 750 AMP electric, 14 OHD, built 2004 6300 SF office and workrooms
Let our Experts assist you today in understanding the “Obama Care” laws and how it affects your business in:
For Sale 4.55 Acres 3560 Laurel Rd, Nokomis, FL 34275 Located on East Laurel Road, minutes from the I-75 Interchange, just past the lighted intersection of Knights Way and Laurel Road. Great location to develop for a business that needs I-75 access. Owner will co-operate in re-zoning application. Viewings by appointment only.
Call your PPACA Specialist today!
For Sale $775,000 Nef Mascorro | 941.928.4775
753-3053 Fax: 753-3179
DEDICATED TO PROVIDING EXCEPTIONAL COMMERCIAL REAL ESTATE SERVICES
1800 2nd St. | Suite 104 | Sarasota, FL 123070
• Compliance • Play or Pay Penalties • Employee Benefits • HR Functions
Lease $5.87 SF NNN Ron Struthers, CCIM | 941.769.3316
941.925.8586
NRT
124297
Rich Pierro (941) 753-3053 ext 229 (941) 713-4412 – Cell # 9PJO'27PUZ JVT
16 corporatereport |
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
BY SEAN ROTH | RESEARCH EDITOR
AIDA Cruises basing ships from Port of Tampa in 2014
ElektroBase installs digital displays at 57 Florida welcome centers, rest areas Bonita Springs-based ElektroBase LLC has provided 112 Elektrosign digital displays to 53 Florida rest areas and four welcome centers for the Florida Department of Transportation (FDOT). The Web-based digital signage system, which will be managed by FDOT, can provide instant updates and information on weather and traffic conditions and Amber alerts. The company will be selling both banner and short video advertising on the system. ElektroBase plans to supply the digital signs to the remainder of the rest areas by early 2014, according to Michael Etchieson, CFO of ElektroBase and former president of Bradenton’s Signs Now. It will also offer the public 20 minutes of free Wi-Fi at the welcome centers and rest areas. The current deployment is expected to generate 62 million views a year.
Pirates promote Grant to Bradenton Marauders GM The Pittsburgh Pirates have named A.J. Grant manager of McKechnie Field operations and general manager of the Bradenton Marauders. Grant has worked for the Pirates since 2005. He will oversee the day-to-day operations
The German cruise line and tour operator AIDA Cruises will home port two of its ships from the Port of Tampa: AIDAvita for the 2014/15 and AIDAmar for the 2015/16 cruise season. AIDAvita will start sailing the first of four Western Caribbean cruises from Tampa in December 2014. In the following season, AIDAmar will sail seven cruises out of Tampa. AIDA Cruises’ entry into the Tampa market means the Port of Tampa will now home port ships from five of the world’s most popular cruise lines. AIDAvita, the second ship in the AIDA fleet, was launched in 2002, of McKechnie Field as well as continuing to assist with sales and marketing efforts for the Marauders. The Marauders are owned and operated by the Pirates. Grant takes over the GRANT daily responsibilities of the Marauders organization from Trevor Gooby, the Pirates’ senior director of Florida operations. Gooby will continue to handle the overall operations of Pirate City, McKechnie Field, Pirates Spring Training, the Marauders and the Pirates Dominican Academy. “A.J. has a proven track record from his work managing the operations of the Pirate City training facility,” Dennis DaPra, executive vice president and general manager of PNC Park and facility management, says in a press release. “New spring training and Marauders attendance records were set at McKechnie Field in 2013, and I know
Would you like
MORE TIME
for BUSINESS?
We thought so. Take advantage of our subscription auto-renewal program and save precious minutes. No bills, no stamps, NO MISSED ISSUES. Contact our subscription department for details.
and the awards they received are well deserved.”
Hine Automation relocates, grows manufacturing space by 300%
and has a 1,266-passenger capacity and a crew of 384. Launched in 2012, AIDAmar, a Sphinx Class ship, has a 2,194-passenger capacity and 609-member crew. AIDA Cruises currently operates and markets a fleet of 10 cruise ships. A.J.’s leadership will allow that growth to continue in 2014.” Prior to coming to the Pirates, Grant spent two years with the Los Angeles Dodgers as minor league equipment coordinator. He has also worked for the Arizona Fall League and the New York Mets.
USF Entrepreneurship Program associate director, graduate recognized The Tampa Bay Technology Forum has recognized Daniel Scott, associate director of the University of South Florida St. Petersburg Entrepreneurship Program, as Technology Leader of the Year. Reuben Pressman, the program’s first graduate, has also been named Rising Star. The honors were announced during the Forum’s 10th Annual Industry Achievement Awards Gala at the Hilton Tampa Downtown. Scott founded the technology company Alorum and co-founded the seed-stage investment fund Gazelle Lab. Earlier this year he was named the Small Business Administration SCOTT Florida Small Business Advocate of the Year and the Entrepreneurship Educator of the Year by the Association for Small Business and Entrepreneurship. Pressman is the CEO and founder of Check I’m Here, a startup company that helps universities measure and increase campus engagement and allocate funds more efficiently through the use of student ID cards. “Both Daniel and Reuben are incredible advocates for the entrepreneurial community,” Heather Kenyon, Tampa Bay Technology Forum CEO, says in a press release. “The passion and dedication to assist others and to grow technology companies locally has benefited numerous early stage companies
Tampa’s Hine Automation has moved to a larger manufacturing and headquarters facility in St. Petersburg. The company says the space was needed to accommodate recent growth and its plans for further expansion. The move will expanded Hine Automation’s manufacturing space by 300%. The new location, at 12495 34th St. N., Suite B, St. Petersburg, is scheduled to be fully operational in the next 90 days. “The success of our automated, vacuum wafer-handling systems and robotic components have fueled the need for larger and more efficient office and manufacturing space,” Scott Craver, general manager, says in a press release. “The new facility also is much more centralized to our suppliers and provides easier access to nearby airports and shipping locations, which will increase our ability to provide cost-effective solutions quickly to our customers.” The move is the third expansion to accommodate the company’s growth within four years.
Cab Plus taxi service, added to RideCommand app Cab Plus, an upscale Tampa Bay taxi service, has partnered with RideCommand. The RideCommand app offers users the ability to request an immediate pickup or schedule a ride. The partners say the agreement will offer riders in the Tampa Bay area a quick, easy and affordable way to book transportation. Cab Plus says the new functionality meets all of the regulations under Hillsborough County’s Public Transportation Commission. “Adding Cab Plus to our RideCommand app creates an innovative collaboration between a new technology and a local company with a proven track record in the market,” Alan Stapleton, founder and CEO of RideCommand, says in a press release. “This means Tampa Bay riders will gain access to the latest technology for booking cars, but won’t have to sacrifice safety or other options like cost and vehicle choice.” The RideCommand app is available on both iPhone and Android devices. Cab Plus operates a fleet of Lincoln Town car taxis.
Protect Your Business with a firm that represents the world’s leaders in commercial insurance.
CALL: 877.231.8834 | EMAIL: subscriptions@BusinessObserverFL.com
Start Saving Time!
Our seasoned agents have years of dedicated and reliable experience in protecting businesses. Turn to Boyd Insurance for all of your business insurance needs, including health, dental, retirement, workers’ comp, general liability, business income, property, commercial auto and more! Put our 39 years of exceptional service to work for your business.
A Better View Of Business
BusinessObserverFL.com
We’re Doing All We Can To Insure Your Future
BOYD INSURANCE & INVESTMENT SERVICES, INC. Ser ving The Gulf Coast For Over 35 Years! | www.boydinsurance.com
103879
102278
941-745-8300
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
sales sense
17
BY JAMIE KANE | CONTRIBUTING COLUMNIST
The truth about hidden sales costs The following sales costs aren’t on your profit-and-loss statement, but that doesn’t mean they’re not affecting your bottom line. We are getting close to the end of the year, which for many businesses is also the end of the financial year. We will be scrutinizing the numbers and trying to figure out where the money went. And maybe trying to figure out how we do a better job next year. The specific terms found below are more than likely not listed as headings on a standard business P&L statement, but these are areas that can cause cash hemorrhaging if not managed properly. The true dollar cost associated with these 10 items are indeed hidden throughout most business P&Ls. TURNOVER Turnover can cost your company huge sums every year. Poor hires can cost the average company 10 times their annual salary over an 18-month period. Make sure that your recruitment, selection and hiring processes are robust and include solid behavioral assessments.
ILL-ADVISED BIDS & PROPOSALS Lottery odds do not make for a strong bottom line. Premature proposals lose more business than they get. Many companies do not know their actual costs of doing bids and proposals. And, if they do have a number, you can usually triple it to get the real number. Track your bidding and proposal process diligently. Be assured, if you track it, it will get better. EXTENDED SALES CYCLES In many companies the normal sales cycle is two to three times longer than it should be. This represents another hidden cost you pay for sales people who cannot control the sales cycle. Are you tracking your average selling cycle, and can you connect this information to your sales forecast? ‘LET’S PRETEND’ COSTS The prospect knows it’s over, however the salesperson does not. Result: wasted time, resources and money. One of the most expensive of the hidden sales costs. How much time and effort is spent trying to retrieve a deal that has already been given to your competitor? BAD FORECASTS, INFLATED PIPELINE Often times a compa ny w i l l sta f f up a nd build inventory for what turns out to be w ish f u l thinking. This
situation rarely turns out positive. Does the sales team understand the difference between pipeline and forecast? MARGINAL CUSTOMERS Squeaky wheels need very expensive grease. Upgrade marginal customers or send them to your competitors and celebrate! Many marginal customers are marginal because you trained them to be, and you consistently provide them with additional services or discounts and credits. UNQUALIFIED PROSPECTS Chasing people who cannot or will not do business with you, and missing those clients who will costs money. Time management and prioritization are key issues in this case. The bottom line is that not everyone qualifies to be a prospect. Your sales group must be able to tell the difference between a suspect and a prospect. UNPAID CONSULTING If you don’t value your services, neither will the customer. These customers will like you, however are sales being made? This is one of the most expensive, profit-draining problems with which companies quietly suffer. And, if you win business by providing unpaid consulting you just might training your new customer to be a marginal customer (see above). UNNECESSARY PRICE CONCESSIONS If you had half of what the average
Jamie Kane is a Lakewood Ranch resident and the owner of Sandler Training in Sarasota. Sandler Training offers sales, management, and leadership training, coaching and consulting. Contact Kane at jkane@sandler.com. salesperson leaves on the table every year, what would you do with the extra revenue? It is a competitive world out there, and our sales forces are challenged to bring in the business. How well prepared are they for dealing with tough buyers and complex negotiations? WASTED DAYS The latest information shows that on a day-to-day basis, the average salesperson is about 20-30% as effective as he or she could be. Your sales force could be the most underutilized resource you have. How much time do they actually spend selling, and being in front of prospects and clients? Are they focused on activities that will generate revenue (pay time), or are they spending time on research, doing reports, attending meetings and other time-draining activities (no-pay time)? As you are preparing and finalizing your budget for 2014, it might be worth a quick review of how to improve these cash-draining areas. Tightening up on the preceding points could make a big difference on your bottom line in the coming year.
Live Webcast Auction Sale Industrial Real Estate, Inventory, Support Equipment Sun., Nov. 17th @ 10 AM CMI STONE DIRECT 3531 S Metro Pkwy, Ft Myers, FL 33916 GULFCOAST Realty & Auctions (#AU415/#BK365-221) Phone: (239) 242-7661 ********************************************** Inventory, Fabricating Machinery, Vehicles, Lifts Sat., Dec. 14th @ 9 AM CASALE MARBLE IMPORTS, INC. 750 SW 17th Ave, Delray Beach, FL 33444
No BS*. Introducing Just a betterBankUnited Home Mortgage Center. home buying experience.
At BankUnited, we understand that finding the right mortgage is just as important as finding Introducing BankUnited the right home. From application to closing, our Home Mortgage Center. loan consultants will work with you through every At BankUnited, we understand that finding the right mortgage is just as important right home. From application to closing, step ofas finding thethefinancing process to help you make our loan consultants will work with you through every step of the financing process to help you make owning your dream home a reality. owning your dream home a reality. *BankSpeak
$150 discount on closing costs** To more about about our homeour mortgage products, stop into your Tolearn learn more home mortgage products,
call or email our Home Mortgage Center at 941.921.1115 or visit us at http://mortgages.bankunited.com/ssvirsky.
We’re with you.
Steve Svirsky 941.730.3517
COMLY Auctioneers & Appraisers (#AB2748)
SSvirsky@BankUnited.com 125626
(800) 883-2665 – COMLY.COM
No BS*. Just a better home buying experience.
Bart Leereveld 941.592.7649
BLeereveld@BankUnited.com
** To be eligible for the closing cost discount you must be an existing BankUnited accountholder. Discount on closing costs is only applicable to first mortgage purchase or refinancing transaction loan amounts greater than $150,000. Fee reductions are those in effect as of October 10, 2013 and are subject to change without notice. Cannot be combined with any other offers or specials. All loans subject to credit and property approval. Other restrictions, limitations and fees may apply. This is not a commitment to lend.
Member FDIC ©2013 BankUnited, N.A.
NMLS#418452
125377
By Order of Receiver
18 commercial real estate | TAMPA BAY |
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
BY SEAN ROTH | REAL ESTATE EDITOR
3 4
COSTAR
1501 Pasadena Ave. S., South Pasadena
1
1
HCA West Florida buys hospitals from IASIS Healthcare
12
BUYER: West Florida-MHT LLC SELLER: Memorial Hospital of Tampa LP PROPERTY: 2901 and 2919 W. Swann Ave. and 2618, 2829 and 2835 W. De Leon St., Tampa PRICE: $32.31 million PREVIOUS PRICE: $34.63 million, October 1999 LAW FIRM ON DEED: Waller Lansden Dortch & Davis LLP, Nashville
1
SELLER: Town & Country Hospital LP PROPERTY: 5901, 5917, 5919, 5941, 5943 and 6001 Webb Road, Tampa PRICE: $16.19 million PREVIOUS PRICE: $23.73 million, October 1999 SELLER: Palms of Pasadena Hospital LP PROPERTY: 1501 Pasadena Ave. S., South Pasadena PRICE: N/A PREVIOUS PRICE: $44.1 million, November 1999
PROPERTY: 30 Liberty Way, Palm Harbor PRICE: $2.35 million PREVIOUS PRICE: $2.55 million, March 2007 ATTORNEY ON DEED: Roland D. Waller, Esq. New Port Richey
PLANS, DESCRIPTION:
PLANS, DESCRIPTION:
HCA West Florida purchased three Florida hospitals in the Tampa Bay area from IASIS Healthcare LLC. HCA West Florida purchased Memorial Hospital of Tampa and Town & Country Hospital for a combined $48.5 million. As of deadline, the sale of the Palms of Pasadena Hospital had not been recorded with the Pinellas County Clerk of the Circuit Court. Palms of Pasadena Hospital is a 307bed, 185,000-square-foot medical facility. Town and Country Hospital contains 176,000 square feet of space with 201 hospital beds, and Memorial Hospital of Tampa has 132,119 square feet and 183 beds. The business operations portion of the sale also included several physician practices with leased offices. Following the sale, HCA West Florida has a total of 19 hospitals, 16 ambulatory surgery centers and more than 19,000 employees in West and Central Florida. “We look forward to providing these three hospitals [with] our advanced systems and quality programs,” Peter Marmerstein, president of HCA’s West Florida territory, says in a press release. “Over the coming months we will explore ways to enhance their services and expand access to specialized health care in our communities.” Franklin, Tenn.-based IASIS Healthcare announced it planned to use the proceeds from the sale in a variety of strategic initiatives aimed at, among other things, growing in existing markets and expanding into new markets.
2 Crescent Heights buys Element, pays $98 million, equal to 4% cap BUYER: 808 Franklin LLC, Miami SELLER: Element Marketing LLC PROPERTY: 808 N. Franklin St., Tampa PRICE: $98 million PREVIOUS PRICE: $7.5 million, December 2006 LAW FIRM ON DEED: Greenberg Traurig PA, Miami PLANS, DESCRIPTION:
Miami-based Crescent Heights pur-
COSTAR
chased the 395-unit Element apartment development in Tampa’s Arts District for $98 million. The price equated to $248,101 per unit. The 365,000-square-foot high-rise also features 15,000 square feet of retail space. Amenities include two swimming pools, a fitness center, 24-hour concierge, guest suites, and a poolside clubroom with a kitchen. The CoStar Group reports that units average 1,030 square feet and that the property had an average vacancy at the time of its last review of the property of 5%. It features parking on the first nine floors. The 35-story building was sold as part of a three-property portfolio sale, which also included Mezzo in Atlanta and The Lex in Chicago. The purchase price equated to a payoff ratio based income (capitalization rate) of about 4%. The historically low cap rate was seen as a strong sign that Crescent Heights plans to convert the property to condominiums sometime in the future. Crescent Heights declined to comment on the purchase. Eastdil Secured, led by Jeff Weber, and HFF, led by Matthew Lawton, represented seller Chicago-based ST Residential. The purchase entity, 808 Franklin LLC, mortgaged the property to BREDS II Mortgage Corp. for $57.93 million.
3 Boise, Idaho, investor buys Lake Tarpon Apartments BUYER: 30 Liberty LLC (principal: Lisa Galane), Boise, Idaho SELLER: Nakomis Enterprises LLC
Boise, Idaho, investor Lisa Galane purchased the 40-unit Lake Tarpon Apartments in northwestern Pinellas County for $2.35 million. The price equated to $58,750 per unit. Built in 1970, the two-building garden-style development is located within a 55-plus deed restricted subdivision of Lake Tarpon. The property features eight two-bedroom/ two-bathroom, 18 two-bedroom/1.5bathroom and 14 one-bedroom/twobathroom units. Residents also have access to the shared amenities within the Lake Tarpon subdivision, including a swimming pool, clubhouse, shuffleboard courts and boat docks on Lake Tarpon. The apartment had a single vacant unit, creating a vacancy rate of 2.5%. Jad Richa and Enon Winkler of Sperry Van Ness Florida represented the seller, a local private investor operating as Nakomis Enterprises LLC. “It was an older property, but it was in very good condition,” Richa says. “It was purchased for the strong cash flow.” The purchase price equated to a payoff ratio based on current income of about 8%.
4 Altman Cos. developing Altis at Highland Park in Westchase Boca Raton-based The Altman Cos. plans to develop the 239-unit mixeduse Altis at Highland Park rental community on 10 acres in the Westchase area of Tampa. Construction is scheduled to start soon with first units set for completion in July. The lender for the development is PNC Bank. The apartment community will feature a mixture of studios, one-, two- and three-bedroom apartment homes and 5,000 square feet of retail space. The project will also include a 5,600-square-foot clubhouse with a movie theater, fitness center, a cyber cafe and clubroom. The pool area will feature a swimming pool with sun-
deck, a pool pavilion with outdoor demonstration kitchen and a bar and barbecue grill. The property will also include barbecue areas, outdoor tables for dining, a dog park, a playground and community garden. The Altman Cos. has developed, constructed, acquired and managed more than 22,000 multifamily units in Florida, Michigan, Illinois, Tennessee, Georgia, Texas and North Carolina.
ETC… • NVR Inc.’s Ryan Homes division has opened its new Sandpiper Point single-family model home at Walden Pointe in Plant City. Homes at Walden Pointe are priced from the $190,000s. • Masters Construction and Development has completed the first of several phases for the expansion of the HealthPlan Services Tampa facility. The newly renovated 84,000-squarefoot building will provide the company with room for a projected increase of more than 1,000 health care jobs in the Tampa Bay area. HealthPlan Services helps small companies and individuals purchase and manage health insurance policies. • Elliott Ross of RMC Ross Realty represented Synovus Bank in the sale of the 530-room Travelodge Maingate hotel in Kissimmee to Carter Hospitality Group LLC for $3.5 million. The price equated to $6,604 per room. • William Ryan Homes has opened its latest model-home center in the Enclave at Ramble Creek, a new community just off U.S. 301 in Riverview. The 1,895-square-foot Sweetwater model features four bedrooms, two baths and a two-car garage. Priced from $200,990, the Sweetwater floor plan ranges from 1,895 to 2,039 square feet of living space. • CBRE has been selected by Invesco as the exclusive leasing agent and property manager for Rocky Point Centre, a 181,014-square-foot office building at 3020 N. Rocky Point Drive, in Tampa’s Westshore district. The 90% occupied, eight-story property houses a number of tenants including Prudential, Farmers Insurance Exchange and Sprint Communications. • Krone Weidler of Marcus & Millichap’s Tampa office represented the seller of Hampton Court, a 36,870-square foot seniors housing property in Haines City for $1.5 million. The buyer was Chicago-based Aviv REIT.
Liberty Group fund acquires Candlewood Suites Tampa-based Liberty Group has purchased the Candlewood Suites in Charleston, S.C. The 125-room extended-stay hotel is located near downtown Charleston, Charleston International Airport, Charleston Air Force Base, and the new Boeing 787 Dreamliner delivery facility. The Candlewood Suites represents Liberty Group’s 23rd acquisition since 2010 and its first acquisition through its newly capitalized private equity fund, Liberty Hospitality Fund I LLC. Built in 2007 for roughly $15 million, Liberty acquired the hotel directly from the special servicer at a 50% discount to the original development cost. The new owner plans to renovate the property in early 2014. “The purchase adheres to our disciplined fund strategy of acquiring a well located, incomeproducing hotel asset at a significantly discounted basis,” Punit Shah, president and chief operating officer of the Liberty Group.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
commercial real estate | TRANSACTIONS |
CHARLOTTE COUNTY Palmetto Grove City LLC sold to Paul Cunningham (50% interest), John Davidson as trustee of the John S. Davidson Trust (25%) and Patsy Lee Walters as trustee of the Patsy Lee Waters Living Trust, $1,793,484, a portion of block 117, Map of Gove City On-The-Gulf, 2217712.
COLLIER COUNTY LeHill Partners LLC sold to NWNG LLC, $140,493,800, Mortgage: $125,000,000 Wells Fargo Bank National Association, hotel, 475 Seagate Drive, various units, Naples, 4899324. Panthers Grey Oaks LLC sold to NWNG Golf LLC, $8,545,100, golf courses or driving ranges, (main address) 7760 Golden Gate Parkway and 7220 Golden Gate Parkway and 7235 Premier Drive, Naples, 4899323. Amy Turner (50% interest), Tammy Kipp (22%) and BRT Coastal Partnership (28%) sold to CRP/Vanderbilt Sandalwood LLC, $6,700,000, Mortgage: $24,400,000, Citizens Bank of Pennsylvania, 7.5 acres, acreage, in SEC 31-48S-26E, 4903274. Rubell LLC sold in lieu of foreclosure to Champion Capital LLC, $3,315,100, tract B2, Southwest Professional Health Park, 4902587. E.B. Simmonds Enterprises LLC sold to Kiropa Island LLC, $2,495,000, warehousing or distribution terminals, 3750 Enterprise Ave., 4902977. Naples Lending LLC sold to FLP 1750 LLC, $1,325,000, commercial, Rubell Medical Center, 1750 Health Parkway S.W. in Southwest Professional Health Park, 4902602. Jen Florida VI LLC sold to Pulte Home Corp., $1,220,400, residential, lots 18, 31, 32, 54, 60 and 153 Camden Lakes and lots 22-27, Camden
Champion Capital LLC sold in lieu of foreclosure to Naples Lending LLC, $1,100,000, tract B2, Southwest Professional Health Park, 4902590.
HILLSBOROUGH COUNTY Memorial Hospital of Tampa LP sold to West Florida-MHT LLC, $32,310,000, hospital 2901 W. Swann Ave., medical office condominium, 2919 W. Swann Ave., medical office, 2829 W. De Leon St., parking lot, 2618 W. De Leon St. and De Leon and Audubon Street and commercial HOA, 2835 W. De Leon St., Tampa, 2013390453. Gerard McHale Jr. as Chapter 11 trustee for the bankruptcy of the estate of Circle M Ranch Inc. sold to Del Monte Fresh Production Inc., $21,900,000, in SEC 11, 12, 13, 24, 25, 26, 35 and 36-33S-20E, 2013390796. Town & Country Hospital LP sold to West Florida-TCH LLC, $16,194,200, commercial HOA, 5901 Webb Road, medical office condominium, 5917 and 5919 Webb Road, vacant commercial condominium, 5941 and 5943 Webb Road, hospital, 6001 Webb Road, Tampa and vacant commercial, 2013390454. South Shore Corporate Park LLC sold to RELP Tampa LLC, $14,629,394.40, office, 355 N.E. 30th St. and 2309 and 2313 Richwood Pike Drive, Ruskin, 2013387482. Violet Schiro and Kristina Fuller as co-trustees of the Nick Schiro Trust (50% interest), Vincent Lodato (21%), Martin and LiliAnne Rodriguez as co-trustees of the Martin and LiliAnne Rodriguez Trust (21%) and LiliAnne Rodriguez and Vincent Lodato as co-trustees of The Katherine S. Lodato Trust (8%) sold to Beazer Homes Corp., $6,150,000, in SEC 10, 11 and 15-31S-20E, 2013397962. Grow RTO LLC sold to Store Master Funding IV LLC, $4,677,522.80, Mortgage: $4,690,000, Citibank NA, in SEC 14-29S-19E, 2013386235. Cypress Park Limited Partnership sold to South Bay Medical LLC, $3,750,000, Mortgage: $2,900,000, American National Insurance Co.,
BY SEAN ROTH | REAL ESTATE EDITOR
medical office, 4051 Upper Creek Drive, Ruskin, 2013397041. CCP Kennedy LLC sold to Liberty Tampa Investments LLC, $3,325,000, multistory office, 100 W. Kennedy Blvd., Tampa, 2013399009. Bissett McGrath Independence Partnership sold to The Crossing Church Inc., $3,000,000, Mortgage: $2,700,000, Bissett McGrath Independence Partnership, vacant residential and pastureland, 5.05 acres, lot 31, block 1 Clair-Mel City, unit 55 and in SEC 30-29S-20E, 2013381822. Grow RTO LLC sold to Store Master Funding IV LLC, $1,366,355.27, Mortgage: $1,370,000, Citibank NA, lots 1-4, block 15, Map of Allen & Smith’s Addition to Plant City, 2013386245. Ursula Tison sold to West LLC, $1,185,000, strip center, 2318 N. Dale Mabry Highway, Tampa, 2013398671. Mountain Park Gardens Inc. sold to Mountain Park Gardens LLC, $1,163,600, warehouse, 420 Ware Blvd., Tampa, 2013390435. 2122 Dale Mabry LLC sold to Preston Development LLC, $1,135,000, Mortgage: $900,000, Wells Fargo Bank National Association, strip center, 2122 S. Dale Mabry Highway, Tampa, 2013396911. Robert Lynch as bishop of the Diocese of St. Petersburg sold to Hillsborough County, $1,125,000, lots 10 and 11 and a portion of 12, block 4, Golden Ring Groves Subdivision and in SEC 35-28S-19E, 2013389507.
LEE COUNTY Royal Palm Yacht Club Inc. sold to Royal Palm Marina LLC, $4,500,000, Mortgages: $2,750,000 and $1,650,000, Florida Community Bank NA, night clubs, lounges or bar, 2360 and 2370 W. First St. and vacant commercial, 2301 W. First St., Fort Myers, 2013000235297.
MANATEE COUNTY HB Retail SR 64 LLC sold to Bayrock Investment Co., $1,917,900, Mortgage: $1,438,000, National Bank of Commerce, service station, 574 E. 66th St. Court, Bradenton, 02494-1491. Caracera LLC sold to Blue Marlin Stations LLC, $1,300,000, service stations, 4905 E. State Road 64, Bradenton, 02494-1076.
PASCO COUNTY H. Vance and Margaret Smith, individually and as co-trustees of the Fund A under the Last Will and Testament of Harry C. Smith Deceased and Mary Martgaret Doicimascolo sold to District School Board of Pasco County, $2,233,000, grazing land, 22 acres, in SEC 29-26S-18, 8940-3091. River Ridge Presbyterian Church PCA Inc. sold to Faith Baptist Church of New Port Richey Inc., $1,550,000, churches, 9230 and 9336 Ridge Road, New Port Richey, 8940-1709. Grow RTO LLC sold to Store Master Funding IV LLC, $1,256,700, retail store, 12709 U.S. 301, Dade City, 8943-1129.
PINELLAS COUNTY None
SARASOTA COUNTY SDC Communities Inc. sold to Vott Partners LLC, $15,000,000, Assumption of Mortgage: $15,000,000, G&H Investments VOT, grazing land, 182.83 acres, in SEC 24 and 25-38S-18E, Nokomis, 2013137920. WCP Lots LLC sold to D.R. Horton Inc., $1,767,500, lots 1-10, 18, 20, 27, 61, 123-133, 135-137 and 140 Willow Chase, 2013142948.
Zentac Productions Inc. sold to Parvin LLC, $1,450,000, store, 24971 S. Tamiami Trail, Bonita Springs, 2013000236720.
Thompson-Hunt Properties LLC sold to KEO Investments LLC, $1,500,000, Mortgage: $881,300, SunTrust Bank, industrial light and warehouse, 1555 N. Washington Blvd., Sarasota, 2013141768.
Veronica Business Park LLC sold in lieu of foreclosure to Veronica Partners LLC, $1,025,000, units 1-7 and 9-15, building 1, Veronica Business Park, 2013000233200.
Health Quest Realty IV sold to Geyer-Dickinson Partnership LLP, $1,050,000, vacant commercial land, 7901 S. Tamiami Trail, Sarasota, 2013141779.
invites you to hear
John Ratey, MD
Professor of Psychiatry, Harvard Medical School How Exercise Optimizes Brain Function and Performance John Ratey, MD, has established himself as one of the world’s foremost authorities on the brain-fitness connection. He has been featured on ABC, CBS, NBC, PBS and NPR, as well as in The New York Times, Newsweek, The Washington Post, US News and World Report, Men’s Health, and other national publications. A highly sought after speaker, he has embarked on a world-wide mission to re-engineer schools, corporations, and individual lifestyle practices by incorporating exercise to achieve peak performance and optimum mental health.
Wednesday, Nov. 13 • 7:15 to 9:15 a.m. Registration: 7:15 a.m.
The Francis
1289 N. Palm Avenue, Sarasota Florida
Admission: $50 (non-members)
Reservations required by November 8. Register on-line www.gulfcoastceoforum.com or mail check to Gulf Coast CEO Forum, PO Box 592, Bradenton, FL 34206 Questions, call Kim at 941-932-2671
124101
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.
Lakes, phase 1A, 4902908. 734 Co-op Groves LLC sold to Story Groves Inc., $1,205,000, orchard, groves or citrus, in SEC 36-47S-29E, 4899729.
114858
DEEDS/MORTGAGES
19
20 commercial real estate | CHARLOTTE-LEE-COLLIER |
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
1 Naples Airport Authority buys hangar for Hertz
BY SEAN ROTH | REAL ESTATE EDITOR
45
Port Charlotte
776
Rotonda West
35
Punta Gorda 771 17 75
BUYER: City of Naples Airport Authority, Naples SELLER: Passim LLC PROPERTY: 160 Aviation Drive, Naples PRICE: $1.65 million PREVIOUS PRICE: $1.42 million, December 1990 (include additional property) LAW FIRM ON DEED: Bond Schoeneck & King PLLC, Naples
78
Fort Myers Shores
2
80
Fort Myers
3
Lehigh Acres
Cape Coral 867
82
93 45
Sanibel
San Carlos Park Immokalee 41 29
Bonita Springs
PLANS, DESCRIPTION:
The Naples Airport Authority purchased the Von Liebig hangar in the northwest corner of the Naples Municipal Airport for $1.65 million. The 2.12-acre property features more than 20,000 square feet of hangar and office space with fueling facilities. DeAngelis Diamond Construction Inc. built the facility, which is also known as the Drax hangar, in 2001. The airport authority purchased the property to lease it to The Hertz Corp. The initial term of the lease will be for five years starting Nov. 1 with several renewal options covering up to a total of 30 years. The agreement is for a triple-net lease that would obligate Hertz to pay for all utilities, taxes, maintenance and insurance.
Naples Park
1
Golden Gate
Marco Island
BUYER: Cape Pine LLC (principal: Raymond Hurd), Nashville SELLER: OB Florida CRE Holdings LLC PROPERTY: 2600 N.E. Pine Island Road, North Fort Myers PRICE: $721,252 PREVIOUS PRICE: $10 million, March 2006 BUYER: Running Tree LLC (principal: Raymond Hurd), Nashville SELLER: OB Florida CRE Holdings LLC PROPERTY: 2570 N.E. Pine Island Road, North Fort Myers PRICE: $128,748 PREVIOUS PRICE: $400,000, September 2005 LAW FIRM ON DEED: Adams and Reese LLP, Sarasota PLANS, DESCRIPTION:
An investor group in Nashville purchased 39.61 acres of land on Pine Island Road east of Hancock Creek South Boulevard for a total of $850,000. The price equated to $21,459 per acre. Although the property is primarily zoned for agricultural users, its future land use designates it for general commercial. The land is located south of the Lee County VA Healthcare Center. Adam Palmer of LandQwest Commercial handled the transaction. “[The new owner] is planning on entitling and building on a portion of the property and is in the middle of discussions on proposed uses,” Palmer says. “They’re discussing everything from a hotel, restaurant and even office along with other uses such as an assisted-living facility in the back. At the price they were able to purchase it from the bank they felt it was advantageous even just to sit on it.” The investors expect to have planning done on the property in the next six months, Palmer says. Further, he says, it’s likely that the owners would bring in additional more experienced developer/operators for certain specialized real estate types, including the senior-living component or hotel, as part of the project.
Equity opens new office in Naples, third Florida location
45
Ochopee 41
2 Nashville investor group buys Pine Island land across from VA
93
75
3 Boat House Group buys Del Prado Boat Club BUYER: Boathouse of Cape Coral LLC (principals: Kevin Code and Thomas Hansen), Cape Coral SELLER: Synergy Property Holdings LLC PROPERTY: 1428 S.E. 46th St., Cape Coral PRICE: $1.43 million PREVIOUS PRICE: $4.18 million, January 2007 LAW FIRM ON DEED: Gonzalez & Shenkman PL, Wellington PLANS, DESCRIPTION:
The Boat House Group purchased the Del Prado Boat Club in Cape Coral for $1.43 million. The price equated to $8,938 per boat rack or $61 per square foot. That figure is higher than the two-year average price per square foot for industrial space ($50) in Southwest Florida, according to the CoStar Group. The 1.12-acre property features a 23,585-square-foot building with 600 square feet of office and clubhouse space. The boat storage contains 160 boat racks averaging 35 feet long. The development was built in 2010 and sits on the Malaga Canal. The boat dealership group already operates six other boat dealership properties, including in Elkhorn, Englewood, Port Charlotte and Prairie Grove, Ill., and Nashota, Wis. It has an existing Cape Coral location, known as The Boat House of Cape Coral, at 1516 S.E. 46th St. Calls to The Boat House Group were not returned prior to deadline. The seller was Synergy Property Holdings LLC, an affiliate of First Midwest Bank, which took ownership in lieu of foreclosure in March 2012.
ETC… • M&L Properties of SWFL LLC purchased 4,200 square feet of industrial flex space at 5870 Washington St., Naples from Animal Lovers LLC for $225,000. Christine McManus of Investment Properties Corp. handled the transaction. • Upton Technology Group LLC leased 2,250 square feet of office space
• Suncoast Custom Pool Inc. leased 2,200 square feet of industrial space in the Collier Park of Commerce at 2900 Horseshoe Drive, Suite 1400, Naples from Helios Colliers LLC. Dave Wallace and Tim Schneider of CRE Consultants represented the landlord. • Absolute Equity Realty Group purchased a 988-square-foot office condominium at 2733 Oak Ridge Court, Fort Myers for $60,000. Michelle Hoffmann of LandQwest Commercial represented the seller. • The Building Industry Association, which serves three counties in Southwest Florida, honored CRE Consultants with the 2013 Summit Award, at its annual Business Industry Awards Dinner. CRE Consultants was recognized for the second consecutive year as “Real Estate Brokerage Firm of the Year.”
in McGregor Lakes at 12651 McGregor Blvd, Bldg. 2, Unit 203, Fort Myers from Gulf Stream West LLC. Randy Mercer, Brandon Stoneburner and Nicole Gray of CRE Consultants handled the transaction. • Wilson Lighting of Naples Inc. leased 7,143 square feet of industrial warehouse space at 1485 Rail Head Blvd., Unit 10, Naples from Railhead LLC. Christine McManus of Investment Properties Corp. handled transaction. • PK Lehigh LLC purchased a 7,800-square-foot climate-controlled warehouse at 5621 Second St. W., Lehigh Acres from HG Lehigh LLC for $332,000. Bob Johnston, Jerry Messonnie and Derek Bornhorst of Lee & Associates’ Naples-Fort Myers office represented the seller and Chip Olson of Colonial Square Realty represented the buyer.
Stock Development sales up 85% over year ago Stock Development announced it signed 54 new home contracts in September worth $30.5 million. Compared with September 2012, its revenue was up 130% and contracts grew by 86.2%. Altogether in 2013, the company has registered 465 sales worth $276 million, an 85.1% increase in sales volume over 2012. Average sales price has also increased 27% in 2013. • FFL Equipment Sales Inc. leased 5,625 square feet of industrial flex space at 7830 Drew Circle, Suites 3-5, Fort Myers from Carroll Partnership Limited Liability Partnership. Christine McManus of Investment Properties Corp. and Derek Bornhorst of Lee & Associates handled the transaction. • Dr. Daniel Bartz purchased a 2,340-square-foot chiropractic office condominium at 1316 S.W. Fourth Terrace, Cape Coral from MB REO-Fl Office LLC for $170,000. Richard Clarke of Lee & Associates’ Naples-Fort Myers office represented the seller and Nicole Gray of CRE Consultants represented the buyer. • Airborne Air Conditioning LLC leased 2,500 square feet of office/warehouse space at 12700 Metro Parkway, Fort Myers from Herbert and Mary Linn. Chase Mayhugh of Mayhugh Realty Inc. handled the transaction. • RAL Resort Property Management Inc. purchased a 4,033-square-foot former Dunkin Donuts retail building at 17810 San Carlos Blvd., Fort Myers for $535,000. Bob Pekol of LandQwest Commercial represented the seller.
Equity Inc. has opened a new fullservice commercial real estate office in Naples. This new location will serve both the south and southwest Florida markets. The new office, at 2590 Northbrooke Plaza Drive, Suite 208, Naples, will provide brokerage, development, construction and property management services. Equity now has three full-service commercial real estate offices in Florida, including offices in Orlando and Tampa. “As Equity’s business continues to thrive we will continue to expand our operations, increasing our presence across the U.S.,” Steve Wathen, president and CEO of Equity Inc., says in a press release. • Parker House Properties purchased the 36-unit Cottage Court Apartments at 3079 Cleveland Ave., Fort Myers for $600,000. Operating as a weekly rental community, the property consists of 17 cottages and a 19-unit building. The buyer plans to renovate the property and convert it into a conventional apartment rental community. Jonathan Richards of CRE Consultants represented the buyer and Matt Stepan of Premier Commercial represented the seller. • Outback Steakhouse of Florida LLC leased 10,426 square feet of land on the northwest corner of Tamiami Trail East and Triangle Boulevard in Naples from Stock Development LLC. CRE Consultants represented the tenant and Dan O’Berski of Trinity Commercial Group represented the landlord. • Viorel Toader and Simona Malinchi purchased 0.64 acres of vacant land at the corner of Seward Avenue and Yahl Street, Naples from PSU Holdings LLC for $235,000. William Gonnering of Investment Properties Corp. handled the transaction. • Multiparts Group Corp. leased 2,188 square feet of industrial space at 17174 and 17500 Jean St., Fort Myers from A&R LLC. Randy Mercer and Brandon Stoneburner of CRE Consultants handled the transaction. • Air Experts Services Inc. leased 3,200 square feet of office space at 5726 Corporation Circle, Fort Myers from Commercial Net Leasing Property. Scott Miller and Stan Stouder of CRE Consultants represented the landlord. • 5791 Youngquist Rd LLC purchased a 10,200-square-foot multitenant flex building at 5780 Youngquist Road, Fort Myers from Shamrock Bank for $320,000. The property was acquired as an investment. Tim Schneider and Stan Stouder of CRE Consultants handled the transaction. • Investors’ Security Trust Co. leased 6,240 square feet of office space at 5246 Red Cedar Drive, Fort Myers. Mike Doyle of LandQwest Commercial represented the tenant.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
behind the deal | CHARLOTTE-LEE-COLLIER |
21
BY SEAN ROTH | REAL ESTATE EDITOR
Marina at Edison Ford THE DEAL: Royal Palm Marina purchase and conversion into Marina at Edison Ford BUYER: Royal Palm Marina LLC (principal: Peter G. Pohlmann), Naples SELLER: Royal Palm Yacht Club Inc. PROPERTY: 2301, 2360 and 2370 W. First St., Fort Myers PRICE: $4.5 million PREVIOUS PRICE: $400,000, June 1987; $40,900, April 1971 and $700, July 1975 LAW FIRM ON DEED: Goldstein Buckley Cechman Rice & Purtz PA, Fort Myers
WHAT: Grant Phelan, co-owner of Pinchers Crab Shack; investor Grant Pohlmann; and an undisclosed third partner purchased the 1960s-era former Royal Palm Yacht Club to convert it into the Marina at Edison Ford. The 29,290-square-foot, two-story building is being renovated to house a Pinchers seafood restaurant on the top level and a private dining and catering area on the ground floor. As the new name suggests, the new venture will also feature an affiliation and covered access with the nearby Edison & Ford Winter Estates to provide food and beverage for events and other large groups. CONDITIONS: Faced with a declining membership, the Royal Palm Yacht Club decided to sell its building. THE FIND: In February, Linda Haas of Commercial Property Specialists Inc. learned the yacht club would likely be closing. She called Phelan and suggested the property for Pinchers. Phelan’s
seafood restaurant group has been growing aggressively recently, adding new locations in Key West and Tarpon Pointe, among others. Through happenstance Pohlmann, who has invested along with Phelan in the past, had also seen news coverage on a local TV network regarding the falling membership and financial troubles at the private yacht club and was equally interested in the future of the club building. Haas is credited with the important early introductions that gave the three partners a leg up on negotiations to buy the building before it was put out to the mass market. FINANCING: The three partners came up with the down payment, and with SBA financing from Florida Community Bank (two loans totaling $4.4 million) they were able to cover both the purchase and renovations. DUE DILIGENCE: With 90 days to close the deal, the potential buyers met with the city officials and examined the property. They also hired Mike Sheeley with Sheeley Architects Inc. of Fort Myers to design the changes and Dave Douglas of Fort Myers-based David Douglas Associates Inc. for the engineering. Through a bit of luck, Sheeley Architects had handled the Royal Palm Yacht Club’s last major renovation in 2007-2008, so it was familiar with the building. OPPORTUNITIES AND PARTNERSHIPS: Phelan says he was surprised to learn that while the Edison & Ford Winter
COSTAR
Estates drew 220,000 people annually, it didn’t have an association with a restaurant for events. The partners reached out to the estate’s president and CEO Chris Pendleton, and a nonformal partnership was arranged. The agreement was built around cross marketing: the new Marina at Edison Ford would create a covered walkway between it and the estates, and the Edison & Ford Winter Estates would suggest its corporate business to the new catering event business and/or Pinchers. This agreement helped persuade the partners to develop a second kitchen area on the first floor to accommodate the large crowds. “The barriers to entry with Edison Ford as a partner are huge,” Pohlmann says. The new owners also decided to largely give up the regular monthly rental income for the 45 boat slips in favor of using the boat slips as additional free restaurant parking. “There’s not a tremendous amount of revenue in leasing boats slips,” Phelan
GRANT PHELAN
BRIAN TIETZ
says. “There are only a handful of restaurants where you’re assured of getting dockage, and during season it can be very hit or miss. I’m assuming this makes us one of the biggest [restaurants by docks] in the state.” This boat parking also led the partners to a deal to serve as the home of the 270-member Southwest Florida Yacht Club, particularly for weekend events. They are also in talks with Captiva Cruises to be a water tourism spot. OPENING: The new Marina at Edison Ford is scheduled to open in February.
40% OF OUR READERS
HAVE INQUIRED ABOUT A PRODUCT, BUSINESS OR SERVICE THAT THEY’VE SEEN IN THE BUSINESS OBSERVER
{Get Results PASCO HILLSBOROUGH PINELLAS
DECEMBER 6 Special Issue:
MANATEE
Best Sales Team
SARASOTA
Sales teams fueling their company’s growth and what’s driving them to success.
CHARLOTTE LEE
Advertising Reservation Deadline: November 25 Our lineup of 2014 special issues offers an entire year of opportunities to advertise and reach Florida’s Gulf Coast business leaders. To receive more information or our editorial calendar, contact Rosemary Felton at 941.362.4848.
A Better View of Business
BusinessObserverFL.com
115828
COLLIER
22 commercial real estate | SARASOTA–MANATEE |
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
1
43
Palmetto Holmes Beach
BUYER: Sarasota Manatee Airport Authority, Sarasota SELLER: Robert Johnson as personal representative of the estate of Heidi H. Boothe PROPERTY: 2105 Tallevast Road and additional land, Sarasota PRICE: $1.8 million LAW FIRM ON DEED: Robert W. Browning Jr. PA, Sarasota
Lake Manatee Lower Watershed
Bradenton
64
41
Bayside 45 Gardens
789
1
301
Upper Myakka River Watershed
93
70
2 3
Sarasota
Myakka City
780
75
41
PLANS, DESCRIPTION:
The Sarasota Manatee Airport Authority purchased 76 acres north of Tallevast Road and west of U.S. 41 for $1.8 million. The price equated to $23,684 per acre. A portion of the land sits in the approach to the airport’s Crosswind Runway (422). The property is also close to a 38-acre site at Tallevast and U.S. 301 that Manatee County purchased to develop a new bus depot facility. “We got a very good deal on it,” says Fredrick Piccolo, president and CEO of Sarasota Bradenton International Airport. “[Manatee County] paid about $120,000 an acre for their section. A lot of that difference came from the efforts of one of our commissioners, Carlos Beruff. He did the negotiating. In part this was to protect that approach and keep people from developing on it, and we also felt that it was such a good deal for the land we felt we could land bank it.” The airport has no other immediate plans on the horizon for the land, Piccolo says.
62
Parrish 75
Sarasota County Commission constructing new emergency center
Beker State Park
301 275
Sarasota Manatee Airport Authority buys Tallevast land
BY SEAN ROTH | REAL ESTATE EDITOR
72
45
Osprey Myakka River State Park
681
93
Venice
41
776
75
45
North Port
Myakka State Forest
Engelwood
The purchase entity, NaKo777 LLC, mortgaged the property to Gateway Bank of Southwest Florida for $1.2 million.
3
Jess Jewelers, formerly located in the Financial Center, moved across the street to its new location at 1312 Sixth Ave. W. in the Kirk Welsh Building. Built in 1926, the historic building was purchased and renovated by owner Tom Jess, who opened Jess Jewelers’ first location on Cortez Road in 1989. Jess Jewelers occupies 3,000 square feet in the building and plans to offer two additional storefronts for lease.
COSTAR
Sarasota County Arthritis Center buys Versailles Office Center
2 Brooklyn investor NaKo777 LLC buys U.S. 41 Circle K station BUYER: NaKo777 LLC (Charles Bradley), Brooklyn, N.Y. SELLER: K41 LLC PROPERTY: 1801 S. Tamiami Trail, Sarasota PRICE: $2.33 million PREVIOUS PRICE: $1.73 million, May 2009 LAW FIRM ON DEED: Richard D. Saba PA, Sarasota PLANS, DESCRIPTION:
A Brooklyn, N.Y., investor purchased a 4,121-square-foot service station on U.S. 41 across from Sarasota Memorial Hospital for $2.33 million. The price equated to $564 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group. The freestanding building is operated as a Circle K gas station. Circle K Stores Inc. signed a triple-net lease for the property in May 28, 2009, and has 13 years remaining. Circle K Stores is obligated to cover all property taxes, insurance, repairs and maintenance on the property. Chris Sands and Tom Davies of Sands Investment Group represented the seller and Andrew Fallon of the Calkain Cos. represented the buyer.
The Sarasota County Commission has approved building a new Emergency Operations Center/911 Center (EOC/911 Center) at 6050 Porter Way, Sarasota. The new EOC/911 Center will replace the existing facility in the Sarasota County Administration Center, at 1660 Ringling Blvd., Sarasota. While the facility is designed to withstand a Category 5 hurricane, it will also be used year-round by 911 staff and other emergency management officials. The new EOC/911 Center is scheduled for completion by March 2015.
BUYER: Sarasota County Arthritis Center LLC (principal: Edward Sarbey), Sarasota SELLER: Maraba LLC PROPERTY: 1945 Versailles St., Sarasota PRICE: $1.43 million PREVIOUS PRICE: $1.1 million, March LAW FIRM ON DEED: Vogler Ashton, Bradenton PLANS, DESCRIPTION:
The Sarasota County Arthritis Center has purchased the 12,768-squarefoot Versailles Office Center for $1.43 million. The price equated to $112 per square foot. That figure is lower than the twoyear average price per square foot for office space ($115) in the Tampa Bay area, according to the CoStar Group. Located on the north side of Versailles Street between U.S. 41 and Osprey Avenue, the two-story building was constructed in 1987. The Sarasota County Arthritis Center previously leased the entire building. The seller, an entity composed of Sarasota businessmen Paul Marchese Jr. and Jim Abrams, purchased the building for $1.1 million ($86 per square foot) in March. Those owners had proposed renovating the building to create a second location for Fyzical, a new physical therapy franchise led by Abrams. The Sarasota County Arthritis Center did not respond to calls requesting comment on the purchase. The buyer mortgaged the property to Bank of America NA for $1.44 million.
ETC. • Jess Jewelers has move to a renovated location in downtown Bradenton.
Developer selling units for Golden Gate Points’ AQUA project Developers Michael Adams and Jonathan McCague have started sales for the planned condominium in Sarasota’s Golden Gate Point, called AQUA. Designed by Guy Peterson | Office for Architecture in association with Tichenor Group and Sivitz Innovative Designs, the project marks the area’s first waterfront luxury residential venture since 2006. AQUA will offer eight one-floor residences. Units will offer from 3,800 to 6,700 square feet of living space each with a private two-car garage and a boat slip. “After seven years without any direct waterfront projects, we expect demand to be very high for this property,” Adams says in a press release. Units are being listed from $3.5 to $5.7 million. • BUGO LLC purchased a 2,516-square-foot office condominium at 1491 E. Venice Ave., Unit B, Venice, from Twin Tower Trading Realty LLC for $175,000. Nick DeVito II of Ian Black Real Estate represented the buyer and Mike Migone of Sperry Van Ness Commercial Advisory Group represented the seller.
• The University of South Florida Sarasota-Manatee and Mote Marine Laboratory have opened new teaching labs at Mote. Willis A. Smith Construction built the 4,600-square-foot space that includes a biology lab, chemistry lab and student teaching area. Designed by Fawley Bryant Architects, each lab has 26 student stations that are served by laboratory gas and fume snorkels. • Medallion Home has completed two new model homes in the Gamble Creek Estates & Preserve community along Golf Course Road in Parrish. The base prices for the floor plans will start at $245,400. • Gentiva Health Services Inc. leased 3,527 square feet of medical office space at 714 Manatee Ave. E., Suite B, Bradenton. Angela Varga with the downtown Bradenton office of Sperry Van Ness Commercial Advisory Group handled the transaction. • Allied Building Products Corp. leased 13,250 square feet of office and warehouse space at 4500 Northgate Court, Sarasota from Copalo LLC. Jeff Button of Richardson Kleiber Walter Kleiber Button Inc. handled the transaction. • The city of Gainesville, Ga., has hired Fishman & Associates Inc., a Venicebased commercial kitchen design and planning company, to provide new serving line designs for the city’s elementary and high schools. • Englewood Enterprises LLC purchased 12,670 square feet of warehouse space at 505 Paul Morris Drive, Englewood from Wells Fargo Bank NA for $235,000. Jeff Button of Richardson Kleiber Walter Kleiber Button Inc. handled the transaction. • Yellow Strawberry Global Salon leased 2,400 square feet of retail space at 5410 Fruitville Road, Sarasota from STC LLC. Mark Chait of Benderson Development represented the landlord and Marcia Cuttler of American Property Group of Sarasota Inc. represented the tenant. • Gentiva Health Services Inc. leased 3,527 square feet of medical office space at 714 Manatee Ave. E., Suite B, Bradenton. Angela Varga with the downtown Bradenton office of Sperry Van Ness Commercial Advisory Group handled the transaction. • Darin Doge has leased 3,000 square feet of retail space at 6513 14th St. W., Unit 145, Bradenton from Southby Partnership Ltd. Marcia Cuttler of American Property Group of Sarasota Inc. handled the transaction.
NOVEMBER 8 – NOVEMBER 14, 2013 | BUSINESS OBSERVER
BusinessObserverFL.com
out of the office | JUNIOR ACHIEVEMENT |
CECILIA ST. ARNOLD, program director at Junior Achievement, and DAVID HOFFMAN, professor of business at Edison State College.
STEPHANIE CORBIN, marketing analyst, JENNIFER SPENCER, senior account manager, and BRITNEY LAMB, account manager, all with Brown & Brown Benefits.
RICHARD CALIGIURI, board of directors at Junior Achievement, BUNNY and JOHN BROOKS, personal financial representatives at Allstate Financial Service, and THELMA HODGES, Hodges University.
JULIE SCHMELZLE, senior vice president at Bank of America, and ROBERT JONES, Edison State College’s Collier campus president.
BY JIM JETT | CONTRIBUTOR
BRAD GALBRAITH, attorney at Hahn Loeser, and JOHN DEANGELIS of DeAngelis Diamond Construction.
COTRENIA HOOD, vice president of business development at the Naples Chamber of Commerce, DAVID GORDLEY, executive vice president at IberiaBank, and Collier County Commissioner GEORGIA HILLER.
MARY FISCHER and SCOTT FISCHER of Scott Fischer Enterprises.
23
Junior Achievement of Southwest Florida inducted John DeAngelis and David Diamond of DeAngelis Diamond Construction and Mayela Rosales and Orlando Rosales of Media Vista Group into the Collier County Business Hall of Fame at a dinner and ceremony Oct. 29. More than 650 people gathered for the event at the Waldorf Astoria Naples hotel. Junior Achievement is an organization dedicated to educating young people about business, economics and free enterprise.
CLAY CLONE, president of Cone Communications, SANDI WILSON, community liaison at McKenney Home Care, DELORES SOREY and Naples Mayor JOHN SOREY.
JOHN IRONS, regional mortgage manager at BB&T, SAMANTHA HOWES of Samantha Howes CPA and director at Junior Achievement, and VICTOR DUPONT, DuPont Builders.
SAM SAAD, president and CEO at Paradise Coast Title & Escrow, and ANNE FRAZIER, president and CEO of Junior Achievement of Southwest Florida.
1/3 OF OUR READERS WORK IN
COMMERCIAL REAL ESTATE
{
Reach a relevant audience
PASCO HILLSBOROUGH
NOVEMBER 29
PINELLAS
Special Issue:
MANATEE
Commercial
SARASOTA
Top trends, transactions and dealmakers
CHARLOTTE
Advertising Reservation Deadline: November 21
LEE
Our lineup of 2013 special issues offers an entire year of opportunities to advertise and reach Florida’s Gulf Coast business leaders. To receive more information or our editorial calendar, contact Diane Schaefer at 941.362.4848.
Real Estate
A Better View of Business
BusinessObserverFL.com
115827
COLLIER
24
BUSINESS OBSERVER | NOVEMBER 8 – NOVEMBER 14, 2013
BusinessObserverFL.com
RICHARDSON KLEIBER WALTER
Jeff Button Jennifer Kleiber-Button 941-378-2328
KLEIBER BUTTON INC.
www.SarasotaWarehouses.com
Lic Real Estate Broker
Industrial & Office Properties For Sale or Lease Multi-Unit Industrial Complex High Occupancy Frontage on University Pkwy 3 Building Complex
SOLD
$26.38 Per Sq/Ft $1,750,000
REDUCED
5,240 Sq/Ft Free-Standing Commercial/ Industrial 3216 15th Street East Office, Conference, Reception & Warehouse Fenced & Paved Property - Outside Storage Zoned GC – Manatee County
NEW LISTING
Paved Fenced Yard 20’ Eave - Ground Level Loading & Covered Loading Dock
For Sale $ 1,350,000 / $45 Per Sq/Ft
1631,1635,1639 W University Pkwy
21,875 Sq/Ft Clearspan Warehouse
31,850 SF in Tampa 15,610 Sq/Ft Clearspan Warehouse w/2,000 Sq/Ft Office 16,240 Sq/Ft Clearspan Covered Paved Work Area 20’+ Eave Height, Loading Ramp, 3 Phase
FOR LEASE $6.96 / SF Gross
Fruitville Rd & I-75 Corridor 9,000 SF Office/Warehouse 20’ Eave Height / Paved Fenced Yard! Loading Dock & Grade Level Doors DON’T MISS THIS OPPORTUNITY!
For Sale $675,000
7,425 SF Multi-Tenant Investment Property 2001 Whitfield Park Ave High Visibility / 3 Phase / Ample Parking A/C Storage Warehouse Area – Nice Office Loading Dock & Grade Level Doors
2053 58th Ave Circle East 24’ Eave Height – 3 Phase Power Common Loading Dock 3 Grade Level Doors 2 Ventilation Doors
FOR LEASE $4.50 Per Sq/Ft NNN
SOLD SOLD REDUCED
18,000 Sq/Ft Office Warehouse 210 Center Court, Venice Clearspan with 27’ Clear Height 2,500 Sq/Ft Nicely Finished Office 2 Recessed covered loading docks!
Call For Details For Sale $299,999
For Sale $595,000 $79.33 Per Sq/Ft
Professional Office is FULLY FURNISHED and includes Open Reception Work Area, 3 Private Offices, Computer Server Area, Kitchen/Break room.
FOR LEASE
6,703 Sq/Ft Building On Whitfield Ave Uses Include Retail / Office / Industrial
3 Units – Partially Leased Less than Replacement Cost
863 SF Office Condo Lakewood Ranch 7365 Merchant Ct, Suite 7
Fenced & Paved Outside Storage 1634 Barber Rd – Sarasota 2,550 Sq/Ft Office 5 Overhead Doors Clear Span Warehouse
Multi-Tenant Investment Property
7,500 Sq/Ft Multi-Tenant Office Building w/Storage
3 Phase Power, 2 Story Office, Large Paved Fenced Storage Yard Single User or Multiple Units
9,165 Sq/Ft Office / Warehouse I-75 / Fruitville Rd Corridor
5 Private Offices, Workroom/Conference Room Kitchenette / Reception / Waiting Room
For Sale $499,000
12,670 SF Manufacturing Warehouse 505 Paul Morris Dr, Englewood
FOR SALE $119,500
$1,995 Per Month “Move In Special”
Preliminary Site Plan Approved for Two-Story 12,100 SF Professional Office! Zoned OPI – Lot Size 33,191 Sq/Ft
I-75 / Fruitville Rd Area Multiple Private Offices, Loading Dock, 3 Phase Power, A/C Warehouse/Production Area
REDUCED FOR SALE $399,000
2,140 Sq/Ft Office Space On Fruitville Rd -Zoned OPB 3277 Fruitville Rd
Cattlemen Road / Bahia Vista St Corner Office Site For Sale
5,000 SF Free Standing Office / Warehouse
For Sale $370,000
FOR SALE $592,500
MAKE OFFER
30,000 SF Industrial Facility 1212 East 44th Avenue
FOR SALE $359,000
FOR LEASE $920 Per Month Per Unit
REDUCED
3 Phase power / Fenced Storage Yard 18’ Eave Height, Insulated Ceiling, FOUR 14‘ X 14’ Overhead Doors
FOR SALE $420,000
2,000 Sq/Ft Flex Space Units Light Industrial – Office / Showroom
PENDING
6,000 SF Office / Warehouse 1599 Apex Rd, Sarasota
FOR LEASE OR FOR SALE
SOLD
1,750 Sq/Ft Flex Space Condo 3240 59th Dr East, Unit 108 Like New! Showroom! Built in 2007 / 20’ Ceiling Height
For Sale $105,000
Cheap Office Space
1,440 SF @ $840 / Month Gross 2,880 SF @ $1,680/Month Gross 3,360 SF @ $1,740 / Month Gross Includes Trash & HVAC Maint Multiple Floor Plans
124310
66,348 Sq/Ft Total