Monthly Archives: September 2012

Lakewood Ranch 272-unit apartment complex sells for almost $40 million

Lakewood Ranch 272-unit apartment complex sells for almost $40 million

Lost Creek Apartments at Lakewood Ranch

By Michael Braga, Herald-Tribune / Wednesday, September 26, 2012

Lost Creek Apartments LLC, a Winter Park company managed by Thomas L. Cavanaugh, sold a 272-unit apartment complex on 24 acres in Lakewood Ranch to Bradenton Multifamily DST for $39.25 million.

Lost Creek Apartments bought the land for $3.468 million in December 2010 and finished the complex at 11140 Lost Creek Terrace this year.

The one- to three-bedroom apartments rent for $950 to $1,450 per month.

For full article, CLICK HERE <—-====

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Palm Avenue hotel project up for review in Sarasota, FL via The Observer

Palm Avenue hotel project up for review in Sarasota, FL

Date: September 26, 2012
by: Roger Drouin | City Editor

downtown_sarasota_aerial_400

Here is some other downtown land available for SALE that would be a good fit as well! CLICK HERE <—-===

A 160-plus room boutique hotel planned for a vacant parcel of city-owned land would include a second floor pedestrian bridge connecting the hotel to the adjacent recently-constructed public parking garage on Palm Avenue.

A draft of a development agreement shows a hotel complete with luxury rooms, a destination restaurant, pool deck and business meeting rooms.

The whole project will be tied into Sarasota’s arts and cultural theme, and cater to tourists looking to stay at a four-star hotel.

On Monday, City Commissioners are slated to review the Proposal for Development agreement with Floridays Development Co.

The hotel developer will pay the city $2.5 for the hotel site, a vacant postage stamp parcel directly to the north of the Palm Avenue garage.

In June, a committee chose Floridays Development over an Embassy Suites hotel project submitted by Jebco Ventures Inc. and the McKibbon Hotel Group.

For the full article, CLICK HERE <——===

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PRICE REDUCED ** Golden Gate Pointe Land w/ Apartment Complex, Sarasota, Florida * For Sale * REDUCED **

PRICE REDUCED ** Golden Gate Pointe Land w/ Apartment Complex, Sarasota, Florida * For Sale * REDUCED ** *

John Ringling Causeway – Google Maps

HIGHLY DESIRED LOCATION * 13-Unit Apartment Complex * Re-Development
Golden Gate Pointe, Sarasota, FL 34236

CLICK HERE <——= For Data Sheet

GG Pointe, Sarasota, FL * For Sale by NAI Manasota, Sean Dreznin 941-961-8199

HIGHLIGHTS
 Currently Zoned RMF5 — Permitted uses ;
Apartments, 25 units/per acre & 90 ft height
Currently the property has a successful 13-unit
apartment complex operating – DO NOT
DISTURB Tenants or Property MGR

 Highly Desired Location
 Great location near exquisite condo’s, Lido beach,
Marina Jacks, St. Armand’s circle, downtown,
Siesta Key
 Income & Expenses provided upon request

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Blackstone to buy $1 billion worth of Tampa Bay homes for rentals

Blackstone to buy $1 billion worth of Tampa Bay homes for rentals

Distressed Housing in Florida Market

By Drew Harwell, Times Staff Writer
In Print: Friday, September 21, 2012

A Wall Street behemoth plans to spend $1 billion on Tampa Bay’s hobbled housing market, dispatching teams of brokers to scour neighborhoods and buy hundreds of homes a month.

But rather than resell the homes, the Blackstone Group is opting to become a landlord, renting the homes to tenants including foreclosed ex-homeowners burned by the housing crash.

Blackstone, one of the nation’s largest private-equity firms, plans to buy as many as 15,000 homes in Tampa Bay over the next three years, many of them foreclosures, capitalizing on decimated home prices and growing rents.

The shopping spree, and those of half a dozen other big investment firms and hedge funds, could radically change the local home landscape, as big-money brokers compete with first-time buyers and mom-and-pop landlords over homes in tight supply.

“It’s a land grab unlike anything we’ve ever seen,” said Peter Murphy, CEO of Home Encounter, the largest manager of rental homes in Tampa Bay. “You’re going to drive through parts of town and all of it is going to be institutionally owned.”

CLICK HERE ——> For complete article

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Downtown Sarasota Apartment complex /// Re – Development Opportunity

Downtown Sarasota Apartment complex /// Re – Development Opportunity

Representational apartment picture

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220′ of US 301 frontage – 1.2 Acres – 3 parcels ** Sarasota, FL 34234

220′ of US 301 frontage – 1.2 Acres – 3 parcels ** Sarasota, FL 34234

north washington blvd (aka – North US 301), sarasota, fl – Google Maps

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Wal-Mart opening New store on North Tamiami Trail in Sarasota

By Justine Griffin

A new perspective

Published: Friday, September 14, 2012 at 1:00 a.m.

article via Sarasota Herald Tribune

SARASOTA – The city’s first Walmart Neighborhood Market, a store that will employ 90, is scheduled to open Wednesday.

The 34,000-square-foot store, at 3500 N. Tamiami Trail, is the third new chain grocery to debut in Sarasota County in roughly the past month, following the openings of Costco Wholesale Club and Trader Joe’s.

Unlike traditional Walmart stores
, the neighborhood market format is smaller and offers food, pharmacy and beauty departments similar to other supermarket chains, like Winn-Dixie and Sweetbay.

“Walmart will be a game changer for North Sarasota and beyond
, by bringing a quality and much-needed product to a great community,” Sarasota Mayor Suzanne Atwell said, in a statement.

Walmart’s grocery store replaces a 40,000-square-foot Winn-Dixie supermarket the Jacksonville-based retailer shuttered in 2010.

It was one of more than two-dozen groceries Winn-Dixie closed in a cost-cutting measure aimed at boosting profitability.

Since then, Winn-Dixie has focused on renovating stores — including its outlet at Fruitville Road and Honore Avenue, in a Benderson Development shopping center.

Although the grocery store marks the first Walmart in the city, it may not be the only store the Bentonville, Ark-based conglomerate operates here soon.

A 97,000-square-foot Walmart Supercenter is being planned for the Ringling Shopping Center, at 2260 Ringling Blvd., which Publix Super Markets vacated earlier this year.

The new Walmart neighborhood grocery, meanwhile, will employ about 90 full- and part-time workers, the company said.

A ribbon-cutting ceremony will take place at 7:30 a.m. on opening day before the store welcomes its first shoppers. Giveaways, product sampling and other entertainment are planned throughout the day.

Walmart began opening neighborhood market stores in 1998 and now has around 200 stores nationwide.

The Sarasota location will be open 6 a.m. to 10 p.m. every day.

Walmart’s $246 billion in sales this year earned them the No. 1 spot on a list of top 75 grocery wholesalers and retailers, as ranked by New York-based Supermarket News, a trade publication.

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