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Southwest Florida BUSINESS TODAY ®
JULY 2021
COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida
Gates gives his take on the construction market
Special to SWFBT Submitted by Karen P. Moore, Publisher
Recently, Gates Construction Chairman and Founder Todd Gates shared his thoughts on the state of the current construction climate. Regarding multi-family development, he advised, “Watch the number of permits being given each year.” He explained, “Most of the time the permits are given out and they are absorbed pretty quickly thereafter. The only time that did not happen was in 2005-‘06. Right now, permits are still being absorbed so I don’t think we have anything to worry about in terms of a real estate ‘bubble’ at the moment.” Regarding changing demographics in Southwest Florida, he observed: “There was a time not too long ago that asking ‘Where are you from?’ was a normal part of a conversation when meeting someone for the first time, because most people were from someplace else. But that question has all but disappeared from the conversation today. This is a vitally
“COVID-19 hit when were at a peak, so we’re absorbing that hit in many ways. But demand is back—then activity will die down and stabilize.”
— Todd Gates, Gates Construction Chairman and Founder important trend regarding future generations in the region.” So what are current trends in the construction industry that developed in response to COVID-19? These include HVAC system upgrades; touchless systems; the line of separation between the workforce and the general population has blurred; clubhouse and hospitality upgrades and refits have exploded. Gates believes that much of this is due to people staying home or closer to home to feel safe. Other trends: “Material prices are insane right now!” Gates proclaimed. “Many price quotes are
only good for 10 days—normally price quotes are good for 18 months.” He noted that prices on everything from plywood to anything that contains oil, fuel or steel are near to impossible to quote because of supply chain disruptions and uncertainties. Gates observed, “Every 10-12 years we experience an economic adjustment, where prices readjust. We have peaks and valleys. COVID-19 hit when were at a peak, so we’re absorbing that hit in many ways. But demand is back—then activity will die down and stabilize.” He quipped, “The free market will always adjust itself—as long as we don’t screw it up!” He thinks that stabilization will be back in the market over the next three to six months. In conclusion, he noted, “The current growth level is not sustainable. Maybe this boom will continue for two more years, especially with people fleeing the cities, maybe that will extend things a bit longer, since what’s currently negatively affecting the Northeast and Midwest is a positive force for us here in Southwest Florida.”
Innovation Hotel opens doors to professional group meetings
Advocate Radiation Oncology has a new location in Bonita Springs
Advocate Radiation opens cancer treatment center in Bonita Springs
Advocate Radiation Oncology celebrated the grand opening of its fifth location with a ribbon-cutting coordinated by SWFL Inc. The new office is located on Elementary Way in Bonita Springs. Advocate Radiation Oncology is a locally owned and operated practice with additional offices in Fort
Myers, Cape Coral, Port Charlotte and Tamarac. Treatments it offers for patients include the Halcyon radiotherapy system and the Identify surfaceguided system. It is one of the first practices in the nation to offer both the Halcyon and Identify systems to patients.
Best Commercial Lot Values in Southwest Florida
25335 Rampart Blvd.
4224 Duncan & Washington Loop
Zoned for Medical Office Buildings, plans for 6 buildings at 5,000 square feet each, two story with parking in front. All environmental phases completed. 4.8 acres partially cleared and ready to build. Bordered by housing and commercial entities.
2 Commercial parcels, 6.8 acres with Highway 17 road frontage and corner of Washington Loop. Future Land Use is Commercial Town Center. Just a few minutes from Desoto County and Walmart Distribution Center. Originally approved for and plans available on 5 acre tract for storage facility. Lot is partially cleared, with water and electric. Commercial Zoned. Just East of I-75, 3.5 Miles
Contact Jeanette Igoe / Broker - Igoe Realty P.A. Jigoe5@aol.com / 239-572-3269
Originally designed and built for medical meetings, Innovation Hotel in Naples is now making the state-of-the-art hotel available to a larger, more diverse segment of the executive level corporate business market. Located adjacent to the corporate headquarters of Arthrex, a global medical device company, the 169-room, education-centric hotel opened its doors in early 2020 primarily to accommodate visiting surgeons and other leading medical professionals from around the world. In light of ongoing seismic shifts impacting the global meetings market, including the enhanced need for health and safety, Innovation Hotel is making its premier venue with cutting-edge cleaning technology available to a broader group of medical meetings, as well as select local and regional corporate meetings, events and other gatherings. “Innovation Hotel was built for learning, networking and doing business, and offers a customizable experience for any size group, but, thanks to Synexis Microorganism Reduction Systems, it was also built as one of the safest places on the planet to meet,” said Gary Hyre, general manager. “Even as the industry struggles with ongoing concerns about COVID-19, demand for meeting space is beginning to grow, and we felt it was time to make our state-of-the art hotel and meeting facilities available to meeting professionals in search of solutions that offer elevated safety and health security to their clients and attendees.” The Synexis Microorganism Reduction System is a disinfectant technology that provides continuous reduction of viruses and bacteria ®
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in the air and on surfaces. Working quietly behind the scenes 24/7, this safe and natural biodefense system reduces the presence of microbes throughout all indoor spaces, including guest rooms and meeting rooms, making it the perfect complement to other cleaning and health and safety protocols. The hotel’s design delivers an engaging experience and uncompromising quality to medical and corporate business travelers. The property features 3,715 square feet of indoor meeting space including the high-tech Innovation Cinema with a capacity of up to 40 guests. Outdoor meeting and activity spaces are ideal for networking and team building activities. Across the street, Arthrex One offers an additional 19,000 square feet of meeting and conference space as well as a 20,000-square-foot Wellness Center. Meeting and event spaces offer a variety of backdrops to channel, boost and sustain energy and collaboration. Guest rooms are configured in pods of three or four, which surround 48 meeting parlors, offering a peaceful oasis to rest, recharge and collaborate. Guest rooms and public areas feature a modern European aesthetic accented with clean lines, muted tones, spacious floor plans, and the latest smart technology. The hotel has three restaurants on property, offering a variety of options for guests to relax and collaborate with a superb culinary experience. For more information, contact the sales team at (813) 614-1717 or email sales@innovationhotel.com and visit the website, which can be found at www.innovationhotel.com.
To stay current throughout the day with COVID-19 business news & resources, go to swfloridabusinesstoday.com/ covid-19-tips-for-business/