Real Estate Briefs

A list of real estate related news briefs.

Contractor named

CORE Construction Florida has been contracted to build the coach home community of Orchid Cove at Port of the Islands. According to John Wiseman, president of CORE Construction Florida, the community is being developed by Bay View Villas LLC and will consist of 40 two-story buildings, each with four corner coach homes for a total of 160 residences. Prices begin in the mid-$260,000s. CORE Construction Florida has offices in Naples, Sarasota and Orlando.

New offices

Nu-Cape Construction Co., a division of Owen-Ames-Kimball Co., has moved to newly-constructed office space east of its former location in Cape Coral. The new address is 1406 S. E. 46th Lane, Suite 8. The new office space provides a reception area, subcontractor plan room, a conference room, three private offices and file storage.

Building contract awarded

Rock Dove-Peg LLC has awarded Fort Myers-based J.L. Wallace Inc. the contract to build waterfront condominiums at the new Tranquility Cove community located at 1341 Rock Dove Court in Punta Gorda. The project includes construction of a four-story, 18-unit condominium building. Each condominium unit will be more than 2,000 total square feet with three bedrooms, two baths and a lanai. The building will include an elevator and trash chute and the first level will feature an enclosed private parking structure. J.L. Wallace will also construct the community pool. Michael Card of J.L. Wallace will serve as project manager. Construction is expected to begin in June with completion scheduled for May 2007.

Construction completed

J.L. Wallace Inc. has completed construction of a Dunkin Donuts at 2706 Lee Blvd. in Lehigh Acres. The project included comprehensive site work and building improvements. The Dunkin Donuts consists of 2,480 square feet and a tenant shell space of 1,570 square feet. Tammy Kaminski of J.L. Wallace served as senior project manager, and Russ Henning served as superintendent.

Transactions

The Florida headquarters of Apartment Realty Advisors announced the sale of Belvedere at Quail Run Apartments, a 162-unit garden apartment community in Naples. Kevin Judd, senior vice president, and Richard Donnellan, principal, of ARA represented New York-based America First Apartment Investors. The property was purchased by Brady Sullivan Properties for $23.166 million or $143,000 per unit. Created with the merger of A.W. Sullivan Realty and The Brady Company in 1992, Brady Sullivan Properties is based in Manchester, N.H. Constructed in 1986, Belvedere at Quail Run is adjacent to the Quail Run Golf Course.

CB Richard Ellis announced the following transactions:

Lyndon Investments, U.S.A. Inc. has purchased a 30,050-square-foot industrial building at 13850 Treeline Ave. in Fort Myers from Cinnamon Pass LLC. for $4,630,000. Robert Johnston and Jerry Messonnier brokered the transaction.

Stiles Corp. has leased 7,000 square feet of light industrial space at 6261 Metro Plantation in Fort Myers from Calvin D. Wible. Bud Cusack of Stiles Realty represented the tenant, and Randal L. Mercer represented the landlord.

Square D Co. has leased 552 square feet of office space in Fairfax Center II at 4310 Metro Parkway in Fort Myers from Hanson Building Materials. Nathan Lamb of CB Richard Ellis, Chicago represented the tenant and Mercer represented the landlord.

Investment Properties Corp. has brokered the following item:

John T. Magocs and Christopher L. Gehring purchased 1.84 acres from Edward D. Boston and Frankie H. Boston at 11840 U.S. 41 E. in Naples The purchase price was $1 million. Craig D. Timmins negotiated the transaction.

EJO LLC purchased a 2,710-square-foot industrial condo from Country Pine Classics Inc. at 1786 Trade Center Way #3 in Naples. The purchase price was $610,000. William V. Gonnering negotiated the transaction.