×
×
homepage logo
STORE

Real Estate Briefs 12-11-20

By Staff | Dec 10, 2020

Industrial warehouse sold in Cape Coral

Raymond J. and Gayle M. Smith recently purchased the 3,640-square-foot industrial warehouse at 1222 S.E. 9TH Terrace in Cape Coral, from 1222 S.E. 9TH Terrace, LLC for $500,000.

According to LandQwest, industrial demand is at an all-time high, and inventory is flying off the market.

“The turnaround for the sale of this industrial building speaks volumes to what the demand looks like for similar spaces,” said Bob O’Connor, associate for the LandQwest Fort Myers office. “Possibly the cleanest industrial building in Cape Coral, and limited inventory pushed to have this listing sold in just three months’ time.” 

O’Connor represented the seller, 1222 S.E. 9TH Terrace, LLC in the transaction. Van Deems with Phil Deems Real Estate represented the buyer.

LandQwest is a privately-held commercial real estate brokerage organization that provides business partners with property management, tenant representation, leasing, sales and consulting services to the communities its serve. For more information, visit LQWEST.com.

CCIM of Century 21 Commercial Selling Paradise sales announced

Southeast Floors, LLC leased a 7,200-square-foot building at 5730 Zip Drive, Fort Myers, from Material Recovery Services Inc. Jack Martin, CCIM of Century 21 Commercial Selling Paradise represented the tenant, and Todd Holman of Woodyard & Associates represented the Landlord in the transaction.

Mad Monkey Media leased a 1,680-square-foot building at 1326 Lafayette St., Cape Coral, from Gold Coast Realty of Cape Coral Inc. Jack Martin, CCIM of Century 21 Commercial Selling Paradise negotiated the transaction

Hot 777 Inc. recently leased 1,600 square feet at 4402-4410 Del Prado Blvd., Cape Coral, from RSAJ Group LLC. Jack Martin, CCIM of Century 21 Commercial Selling Paradise negotiated the transaction.

CCIM of Century 21 Commercial Selling Paradise is at 3409 Del Prado Blvd., S.,

Cape Coral, FL 33904. For additional information, call 239-542-5777.

CRE Consultants reports recent transactions

CRE Consultants this week announced the following transactions:

* First American Exchange Company LLC purchased a fully-leased 10,182 square foot office building at 1031 S.E. 9th St., Cape Coral, from Weeping Willow Development SW Florida, LLC for $1,750,000. Randal Mercer of CRE Consultants negotiated the transaction.

* 3729 Ironbridge Blvd., LLC purchased 1.76 Acres in Westbury Industrial Park at 3729 Ironbridge Boulevard, Fort Myers, from Lyndon Investments USA, Inc. for $335,500. stan stouder, CCIM of CRE Consultants represented the seller and Matt Valentine of Real Estate & Development represented the buyer in negotiating the transaction.

CRE Consultants | Brokerage Services, a Florida licensed real estate broker, is located at 12140 Carissa Commerce Court, Suite 102, Fort Myers, FL 33966. For more information, call 239-481-3800.

Community invited to ribbon-cutting ceremony of EXIT Select Realty

Cindi Infiesto this week announced the ribbon-cutting of her real estate brokerage, EXIT Select Realty. In celebration of its partnership with the Cape Coral Chamber of Commerce, EXIT Select Realty will host an open house Monday, Dec. 14, at 2 p.m. 

EXIT Select Realty invited the pubic to join the celebration and meet some of the agents and staff of EXIT Select Realty. 

Snacks and refreshments will be provided.

“We are thrilled to be able to be a part of the chamber and are excited to continue to grow in the community!” said Infiesto.

EXIT Select Realty is located at 12520 World Plaza Lane, #1-2, Fort Myers, FL 33907.  For more information, please call 239-314-7900 or visit www.exitselectre.com.

Local real estate market continues exceptionally strong pace in October

Lee County’s housing market saw a strong double-digit increase in closings in the single-family category in October compared to the same period a year ago. According to a report from the Royal Palm Coast Realtor Association, closings in the single-family category were up in October 2020 (1,578) compared October 2019 (1,084). This is the highest number of closed sales for October going back to 2016.

Year-over-year, sales were up by 45.6% for single-family and by 52.7% for townhouses and condominiums, according to figures released last week by Florida Realtors, an umbrella organization for Realtor groups throughout the state.

October showed a median sale price increase of 18.8% for single-family and 21.4% in the townhouse/condominium category. Median price in the single-family category shows a steady and consistent rise in pricing, indicating stability in the pricing segments. Inventory is significantly down for both.

Year-over-year, local inventory of single-family dwellings is down again this month at 48.9% as shown in active listings on the Multiple Listing Service. A 2.4-month supply of inventory shows we are in a sellers’ market as more listings are seeing multiple offers.

In the townhouse/condominium category, listings were down 30.2% versus October 2019. That translates to a 3.7-month supply and shows the condo market is also now in a sellers’ market.

Time spent on the market in October was just 35 days for single-family homes and 53 days for townhouses and condominiums.

Broken down by municipality, all cities saw an increase in the number of closed sales over October 2019. Fort Myers Beach saw an increase in sales by 180%, followed by Sanibel/Captiva at 161.5% and Pine Island with an 87.5% increase.

When looking at closed sales by price point, all single-family homes over $200,000 saw a significant increase over October 2019. Homes over $600,00 saw a triple digit increase compared to October 2019.

Comprising a membership of more than 7,000 Realtors, the Royal Palm Coast Realtor Association exists to advance the success of its members, serving as a resource for professional development and an advocate in community issues affecting members, their customers and property owners’ rights. RPCRA serves Southwest Florida, with offices in Cape Coral and Fort Myers. For more information, visit www.rpcra.org.

Recent LandQwest Commercial transactions announced

LandQwest Commercial – Southwest Florida Market recently announced the following sales and lease transactions involving Cape Coral properties.

Sales

* Del Prado Coffee Realty LLC purchased the 1,000-square-foot retail building at 1014 Del Prado Blvd., S., in Cape Coral, from Kevin H. Schuman and Carol J. Schuman for $575,000. Bob Pekol of LandQwest Commercial represented the buyer in the transaction. Jack Britton with Professional Realty Consultants represented the seller.

* Sara Della Porta purchased a 3,000-square-foot industrial building at 1204 S.E. 10th St. in Cape Coral, from Copper Holdings of SWF LLC for $325,000. Chuck Smith, CCIM of LandQwest Commercial represented both parties.

Leases

* Flagler Insurance leased 1,000 square feet of office space in South Cape Business Park at 4417 S.E. 16th Place, Unit 13 in Cape Coral, from SFJ Realty Group LLC. Bruce Micciche, CCIM of LandQwest Commercial represented the tenant.

For additional information, please visit LQWEST.com.

Fogelman Properties purchases The Edison in Fort Myers

Fogelman Properties, a privately-owned, multifamily investment and property management company, has announced the acquisition of The Edison, a new 327-unit, A+ multifamily community located in Fort Myers.

Completed in 2020, The Edison offers one, two and three-bedroom apartment homes with rental rates ranging from $1,395 to $2,095. The newly-acquired community is 93% occupied and will be managed by Fogelman.

Fogelman and LIV Development acquired The Edison through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 33 multifamily communities totaling more than 11,000  apartment homes, with an aggregate value of more than $1.5 billion. 

A fully integrated company, Fogelman specializes in multifamily acquisitions, property management, construction management and asset management. Founded in 1963, Fogelman operates 88 multifamily communities totaling 28,000 apartment homes spread across 10 states in the Southeast, Southwest and Midwest. For more information about Fogelman, please visit www.fogelman.com or follow the company on Facebook, Twitter and Instagram.

Stevens Construction completes Snead Eye Group

Stevens Construction’s special projects division has completed an interior renovation of Snead Eye Group, announced Dan Adams, company vice president, South Florida.

Located at 28420 Bonita Crossing Blvd., Ste. 120, in Bonita Springs, Snead Eye Group includes a lobby, exam rooms, dilation room, optical displays and a nurse station. Stevens Construction delivered the 2,700-square-foot interior renovation two weeks ahead of schedule, completing the work in five weeks. 

The Stevens Construction special projects team included Shane Sindledecker, Joe Cimilluca, Norma Cimilluca and Angie Sugg. Christopher J. Lee Architects, Inc. was the architect of record and interior design was provided by Daisy Design Group.

Stevens Construction launched a special projects division in 2018 to serve projects ranging from $300,000 and under. Special projects include tenant improvements, additions, renovations, repairs and specialty projects.

With offices in Fort Myers, Tampa and Orlando, Fla., Stevens Construction specializes in providing construction management, general contracting and consulting services to clients and design professionals. Other services include site and design team selection, budgeting, project scheduling, permitting, cost and quality control and warranty service. The company builds healthcare, commercial and hospitality facilities. For information, visit www.stevensconstructioninc.com or call 239-936-9006.

Local real estate agent earns international award

Despite significant impact on the way real estate is bought and sold as a result of the COVID-19 global pandemic, real estate agents have pivoted to ensure that transactions continue to be closed in a safe and responsible manner.

Those local professionals who were best able to adapt to the change and provide exceptional service to their clients were honored recently for outstanding achievement by EXIT Realty Corp. International during a special awards presentation broadcast throughout the U.S. and Canada:

Cindi Infiesto, franchisee with EXIT Select Realty in Fort Myers was honored with the Bronze Award by EXIT Realty Corp. International. The award was given in recognition of closing between 20 and 39 real estate transaction sides during the production year July 1, 2019, to June 30, 2020.

For more information, please visit www.exitrealty.com and www.joinexitrealty.com.