Business Observer How To ... by Kat Hughes

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

AUGUS T 21 - AUGUS T 27, 2015 | T H R E E D O LL A R S

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THE HOW TO ... ISSUE Everything you ever wanted to know, from the experts who know it best. Learn about how to:

Keeping morale during rough times can be tough. One firm shares how it did it despite deep layoffs. PAGE 13

Spot an embezzler................... 7 Recruit an all-star................... 8 Negotiate better...................... 8 Create an ESOP........................ 8 Sell your business................... 9 Give a great speech............... 10 Manage cash........................... 10 Run a flat organization........ 11 Keep meetings short............. 12 Create a succession plan..... 12 Maintain morale.................... 13 Pitch an investment............. 13 Expand globally..................... 14 Stop legislation...................... 14 Turn it off on vacation......... 15 Manufacture in China.......... 15

CRE Sweetbay vacancies provide challenges for leasing agents. 16 Sales of Harley-Davidson dealerships hit the gas. 17

RYAN TOTH FLORIDA REGIONAL DIRECTOR, BECK CONSTRUCTION PAGE

23 Update: An accidental entrepreneur finds success.

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DON’T MISS

Karl “Dee” Maret’s unlikely path to real estate. 18

cooltoday.com

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BusinessObserverFL.com

Vol. XIX, No. 33

EAST MEETS WEST

REGIONAL BUSINESS

A Division of The Observer Media Group

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.

WEDNESDAY, SEPTEMBER 2

Editor and Publisher / Matt Walsh, mwalsh@BusinessObserverFL.com

4:30-7:30PM | ROBARTS ARENA

Executive Editor / Kat Hughes khughes@BusinessObserverFL.com Managing Editor / Mark Gordon mgordon@BusinessObserverFL.com Editor-Lee/Collier / Jean Gruss jgruss@BusinessObserverFL.com Research Editor / Sean Roth sroth@BusinessObserverFL.com Commercial Real Estate Editor / Kevin McQuaid kmcquaid@BusinessObserverFL.com Editorial Design / Nicole Thompson; Foster Barnes Contributing Writers / Traci McMillan Beach, Beth Luberecki, Anita Todd

Tickets $5 in advance. $10 at the door. Purchase advance tickets at www.EastMeetsWestExpo.com.

Mix, meet & mingle with business professionals from across Sarasota and Manatee counties and catch a glimpse at the latest products and services from countless local businesses. Enjoy tasting samples from some of the finest local restaurants and a cash bar. Goodie bags for the first 500 guests and fantastic prizes for a few lucky winners!

Hillsborough County

204 S. Hoover Blvd., Suite #220 Tampa, FL 33609 Phone: 941/906-9386 (Legal Notices) Fax: 813/287-9403

PRESENTING SPONSOR

www .E ast M EEts w Est E xpo . 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)

Orange County 179253

Tampa Bay Buccaneers Club Tickets Casa Del Mar Accommodations Package Longboat Key Club Golf Package Longboat Limousine Package Courtyard Marriott Two Night Stay Hampton Inn & Suites Two Night Stay Fishermen’s Village Gift Certificate Charter One Hotels Stay & Play Package

HOW TO REACH US

720 S. Dillard St. Winter Garden, FL 34787 Phone: 941/906-9386 (Legal Notices) Fax: 407/654-5560

Manatee County

5570 Gulf of Mexico Dr., Longboat Key, FL 34228 Phone: 941/362-4848 Phone: 941/906-9386 (Legal Notices) Fax: 941/954-8530

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

Charlotte County

The French Quarter, 501 Goodlette Road N., #D-100 Naples, FL 34102 Phone: 941/906-9386 (Legal Notices) Fax: 239/263-0112

Pinellas County

Pasco County

Address: 949 Tamiami Trail, Suite 202 Port Charlotte, FL 33953 Phone: 941/906-9386 (Legal Notices) Fax: 941/249-4901 14004 Roosevelt Blvd. Clearwater, FL 33762 Phone: 941/906-9386 (Legal Notices) Fax: 727/447-3944

3030 Starkey Blvd. New Port Richey, FL 34655 Phone: 941/906-9386 (Legal Notices) Fax: 813/287-9403

Polk County

3730 Cleveland Heights Blvd., Suite 5 Lakeland, FL 33803 Phone: 941/906-9386 (Legal Notices) Fax: 863/646-9491 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.

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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; 204 S. Hoover Blvd., Suite #220, Tampa, FL 33609; 14004 Roosevelt Blvd., Clearwater, FL 33762; 3030 Starkey Blvd., New Port Richey, FL 34655; 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; The French Quarter, 501 Goodlette Road N., #D-100, Naples, FL 34102; and 3730 Cleveland Heights Blvd., Suite 5, Lakeland, FL 33803. 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. POSTMASTER: Please send changes of address to the Business Observer, P.O. Box 3169, Sarasota, FL 34230. For information on reprints, visit BusinessObserverFL.com

“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 $$ 176211

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AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

Conference center back in play When Sarasota developers Charles Githler and Andy Dorr attempted to build a $100 million conference center downtown six years ago, the project stumbled. But the dream, to raise Sarasota’s national profile with a business meeting space that can draw in hundreds of events a year, has never gone away. And after decades of starts and stops, including the 2009 effort from Githler and Dorr, momentum could be percolating once again. “We’re an ideal conference location compared to many throughout the country,” says Dorr, who sits on the boards of Visit Sarasota County and the Greater Sarasota Chamber of Commerce. “We have wonderful recreation and leisure — hence why we draw 4 million people per year here.” Dorr was one of several proponents quoted in a recent story in the Sarasota Observer, sister paper of the Business Observer, about the potential resurrection of a conference center. Proponents point to a booming tourism industry and a political shift on the Sarasota County Commission that points toward more aggressive economic development. “We’ve slowly been rebuilding stronger support, and last year we convened a group of about 10 of us and had some roundtable discussions,” Dorr tells

the Sarasota Observer. “We decided we should again continue to try and build momentum.” Some government officials agree, at least in principle: Three county commissioners — Chairwoman Carolyn Mason, Commissioner Paul Caragiulo and Commissioner Alan Maio — recently went on the record in support of a conference center project. Commissioners and some business leaders often cite the city’s meeting space limitations: The 20,000 square feet at the Hyatt Regency Sarasota is the largest venue near downtown. There are several obstacles. Any large-scale project that includes tax dollars is certain to generate opposition, for one. And conference centers, wherever people build them, are somewhat risky projects. Visit Sarasota County President Virginia Haley, while not opposed to something that could bring more people to town,recommends caution. Her experience has shown successes and failures, depending on how a community approaches large meeting spaces. “We really need a major dose of reality as we go through this process,” says Haley. “And we have to understand that they’re extremely expensive to build, but that there will be continuing operation expenses to market and sell the space.”

Will new name deliver new work? Tampa-based law firm Trenam Kemker chopped off one half of its name recently — part of what the firm calls a marketing and branding transformation. The new name is just Trenam. The makeover includes new marketing materials, down to the logo and a new website. It also includes major TOMASSI renovations of the firm’s Tampa and St. Petersburg offices, which now have more conference rooms with sunlight and collaborative workspaces. Going to one name is partially a response to national law firm trends. And Trenam officials hope the shortened name will help it connect easier with clients. “It’s been a real great change,” Trenam Managing Shareholder Marie

Tomassi tells Coffee Talk. The revamped logo, four triangles, is nod to what the firm now calls a code of client commitment. The code’s four tenets are: understanding your business; certainty; accessibility; and deadlines. Founded in 1970, Trenam’s practice areas include bankruptcy, creditors’ rights, business transactions, commercial litigation and construction law. The firm has 90 attorneys spread through its two offices. A looming challenge facing Trenam, beyond getting the word out about the changes, is to combat what Tomassi calls the shifting forces of supply and demand in the legal field. “There is not as much work as there used to be,” says Tomassi, “but there are a lot more lawyers.”

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Citing low sales, food management firm Spectra asked for its release from a contract with the Cleveland Heights Country Club restaurant in Lakeland. About a year remains on the two-year agreement and officials with the city of Lakeland, which owns the club, hope to have a new operator by the end of September. On a larger scale, the situation is another example of the challenges some cities face in owning golf courses and connected businesses. Officials in Sarasota are also currently struggling to find a long-term strategy for the course it owns, Bobby Jones Golf Course. As required, Lakeland advertised for proposals to replace Spectra, formerly Ovation Food Services. Only two interested parties attended the mandatory meeting held several weeks ago. On Aug. 12 city officials reviewed the one proposal they received and returned it to the bidder

with questions. Bob Donahay, the city’s parks and recreation director, says the city is “looking for someone to take ownership in the business — someone who knows how to handle breakfast, lunch and dinner, as well as banquets and catering.” Under the current agreement, Spectra received 7% of the revenues and 20% of the profits. Spectra representatives declined to comment, but Donahay says the city hasn’t “made a dime in a year.” The city chose Spectra to take over management duties in June 2014 after the restaurant could no longer afford the liquor liability insurance. Spectra has agreed to stay on until a new operator is in place. Donahay says if an agreement cannot be reached with the bidder, the opportunity will be re-advertised. The contract with the new operator will be for five years.

169106

CHECK PLEASE

4 topstories from BusinessObserverFL.com

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BusinessObserverFL.com

quote of theweek

TAMPA BAY

New routes announced for PIE

Allegiant Air is expanding its routes at St. Pete-Clearwater International Airport with nonstop service to and from three new cities: Appleton, Wis.; Scranton, Pa.; and Kansas City. The Appleton and Scranton flights will begin Nov. 6, according to a statement. Kansas City flights begin Nov. 12. The new flights will bring nearly 15,000 additional visitors each year to the St. PeteClearwater area, say airport officials. Allegiant now serves 47 markets nonstop to the airport, which goes under the call letters PIE.

Money manager admits to scheme An investment adviser admitted to running a $9 million investment fraud scheme involving Facebook stock. Gignesh Movalia, 40, of Tampa, pleaded guilty in federal court to one count of investment adviser fraud. According to admissions made in connection with his guilty plea, starting around 2011 Movalia

You don’t want to die without a will, and you shouldn’t run a business without a succession plan. Jo Ann Koontz | Sarasota attorney/ CPA SEE PAGE 12

what do you think?

began to solicit investments for a fund he formed in 2009, OM Global Fund, that touted access to pre-IPO shares of Facebook. By the end of 2012, Movalia had raised more than $9 million reserved for buying Facebook shares, authorities say. Movalia admitted he used those funds for other investments. A sentencing date hasn’t been scheduled yet. SARASOTA-MANATEE

Law firm names new president Williams Parker, the oldest independent law firm in Sarasota, named trust and estate attorney Ric Gregoria president. Gregoria succeeds William Seider, who has been the firm’s president for the past nine years, according to a statement. The transition is part of the firm’s long-term succession plan, the statement adds. Gregoria works with individuals, families and businesses in sophisticated wealth transfers and business succession. He joined Williams Parker in 1992 and became a partner in 1996.

Executive elected to global board Goodwill Manasota President and CEO Bob Rosinsky has been elected to the board of directors of Goodwill Industries International. Rosinsky, also named president of the Florida Goodwill Association earlier this year, will serve a three-year term on the global board, according to a release. Rosinsky has been with Goodwill for more than 40 years and was named to his current leadership position at the prominent area nonprofit in January 2013. Rosinsky joined Goodwill Manasota in 1996, after serving as a consultant for the organization for five years. CHARLOTTE-LEE-COLLIER

Logistics firm opens new headquarters Logistics company Allyn International opened a new global headquarters, with room to add 50 jobs. The headquarters is an 11,000-square-foot office building at 8060 College Parkway in Fort Myers that Allyn recently purchased and renovated. The firm had $17.1

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million in revenues last year, up 46% from the previous year. It has 223 employees. Allyn provides logistics and tax management for clients around the world. In addition to Fort Myers, the company has offices in Shanghai and Prague.

Sales up nearly 95% at food company Innovative Food Holdings says quarterly sales rose 94% following the acquisition of The Fresh Diet from last summer. Innovative Food Holdings, which distributes specialty foods to thousands of chefs and restaurants nationwide, says The Fresh Diet contributed about $4.9 million of revenue during the quarter. Revenues, in total, nearly doubled in the quarter ending June 30 to $12.5 million. Some of the expenses related to The Fresh Diet acquisition also led Innovative Food Holdings to post a net loss of nearly $2 million in the most recent quarter compared with $400,000 of net income in the same quarter one year ago.

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Will Donald Trump make it to the GOP primary?

53.7% Yes 46.3% No

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AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

BusinessObserverFL.com

CoffeeTalk FROM PAGE 3

BY ROD THOMSON | INDUSTRY INSIGHTS

Mover makes sun splash Solar power remains an expensive proposition for commercial building owners, but Jim Henderson says he’s confident in the payback. Henderson, founder and president of upscale mover William C. Huff Cos. in Naples, says the cost of converting his 34,000-square-foot warehouse to solar power in Naples is $350,000. He says there will be enough power generated from the rooftop solar panels to expand his warehouse to 44,000 square feet. “We’re only covering one third of my roof space,” Henderson says. After calculating the federal tax credit of $100,000 and what he would pay the electric utility, the break-even point is about five years, Henderson says. “Is it expensive? There’s no doubt about it, but I’m going to get free electricity after five years,” he says. What’s more, Henderson says the solar power boosts the property’s value. “It increased the value by more than what I’m spending,” he says. But best of all, Henderson says he’s making a contribution to environmental stewardship. “Who’s doing anything other than talking about it?” he says. “That building is a legacy for future generations. Hopefully we can

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See COFFEE TALK page 6

HOMEBUILDER NOT FOR SALE WCI Communities is attracting all kinds of positive attention from investors for its most recent quarterly earnings report, so it’s no surprise there’s talk of the company becoming an acquisition target. The Bonita Springs-based company recently reported strong revenues and profits as Florida’s homebuilding recovery continues. WCI (symbol: WCIC; recent price: $25.60) reported net income of $9.8 million on revenues of $150.7 million in the second quarter ending June 30. That compares with net income of $4.3 million on revenues of $93 million in the same quarter in 2014. Furthermore, WCI says the average selling price per new home it delivered in the second quarter was $476,000, up 11.2% compared with the same quarter one year ago. The company delivered 243 new homes in the second quarter, a 70% increase over the same quarter in 2014. In a conference call with investors to discuss the results, analyst Alan

Ratner from Zelman & Associates asked WCI President and CEO Keith Bass if there are any plans to sell the company given the increased mergers-and-acquisitions activity. The homebuilding sector has seen a noticeable increase in buyout activity over the last year. Most notably in June, Standard Pacific agreed to acquire Ryland Homes to create one of the nation’s largest publicly traded homebuilding companies. “I don’t have any plans on selling the company,” Bass says in a transcript of the call posted on SeekingAlpha.com “We certainly are out there in the M&A front with regard to the A, not too much the other side of it,” he quipped. Bass says WCI has plenty of opportunities to grow its presence in Florida and perhaps beyond. “We’ve been pretty honest about the fact that we’ve got the potential to export what we do to other marketplaces, but right now we’re continuing to grow the business in Florida,” he says.

Shawn Ferguson knows voluntary benefits, and it starts with a nearly tragic car accident in college that almost took his life. His medical care was covered, but importantly his mother had an accident insurance plan that paid him after he got out of the hospital. “That was a pivotal point in my life because it saved me financially,” he said. “It is what sparked my interest in this industry.” Ferguson graduated with National Honors from the University of Akron in 2004 with a Bachelors in International Business. He’s been in the voluntary benefits field ever since, doing everything from enroller to case manager to broker. Ferguson owned Bayside Benefit Solutions for three years before becoming A l lt r u st ’s Volu nt a r y Benef it s Specialist a year ago, helping create the firm’s Worksite Division. Personally and professionally, Ferguson understands that healthy employees are necessar y to a vibrant business, but skyrocketing healthcare costs make the benefits harder for employers to afford and compete for the best workers. A growing trend to overcome this quandary is the use of voluntary benefits. Here are five insights into how voluntary benefits help your organization. 1. Why are voluntary benefits becom i ng so i mpor ta nt for employers? Voluntary benefits help fill the gaps created by rising deductibles a nd out- of-pocket maximums with major medical health insurance. Average annual premiums are more than $16,800 per family now, according to the Nationa l Con ference of State Legislatures. More employers are leveraging voluntary benefits to help cover that cost. The most prevalent voluntary plans used to cover these costs are accident, hospital and critical illness.

someone in your company faces hospitalization for a child. They will need to meet their deductible, which can be in the thousands of dollars, before the plan begins to provide coverage. If your company offers hospital coverage as a voluntary benefit, the monetary benefit in the event of a claim is paid directly to the employee, who then uses it to cover the deductible and anything beyond the insurance maximums. Employees get the coverage at a group rate and they are usually guaranteed issue policies that can be customizable down to the individual employee. 3. What do voluntary benefits do for employers in the competitive arena? Voluntary benefits help employers retain and attract great employees by enhancing benefit packages at no cost — or maybe even a cost-savings. Most employers now are offering these in some way, and those that do not are at an increasing disadvantage in competing for employees. 4. How is it possible that voluntary benefits provide both employees and employers with a win? With these plans, cost savings come to the employer through payroll taxes. Employees are able to use pre-tax dollars to pay the premiums, which saves them on their tax bills, while employers save money by not having to match FICA withholdings for Social Security and Medicare. Further, the voluntary benefit covering accidents offers an extra level of protection for employees and can work to reduce employer exposure to workers comp claims. Employers should want to see a lot of participation. 5. What is the impact on the employer-employee relationship? In addition to the cost savings, from a company viewpoint, the voluntary benefits allow employers to enhance their benefit package at no hard cost. Employers are able to enhance their relationship with employees by providing coverages that they may not be able to afford or be eligible for outside of the workplace. Importantly, this often ends up solving a major problem or worry for employees.

Wake & Shake Wake & J 2. What are some of the gaps that traditional benefits do not cover, and in which voluntary benefits play a role? Almost everyone has deductibles now, and those are on the increase. A Mercer study in 2014 found that 23 % of employees choose high-deductible plans — an increase from 18% over just one year. For example, say

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BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BusinessObserverFL.com

CoffeeTalk

datasnapshot

FROM PAGE 5

Total taxable sales on the Gulf Coast install the system and he financed the deal with Colorado-based Wunder n Capital: Here’s how Henderson says the cost breaks down: n Project cost: $349,401 n Financing for 100% of the project at

Area

5.5% for 10 years: $3,929 per month n Average monthly electric bill for 44,000-square-foot building: $2,100 n Impact of 30% federal tax credit: $1,263 per month n Net monthly cost for project: $466

Winter Haven-Lakeland

$721, 8%

Cape Coral-Fort Myers

$1,154, 7.2%

Feel the entrepreneurial pain Everyone loves a success story, but entrepreneurs are quick to remind you nothing comes easy. A sold-out crowd of 125 people attended the first VenturePitch Founder Talk in Naples on Aug. 13. Angelo Biasi, the founder of MassiveU, spoke to a receptive audience about how he built the Naplesbased educationBIASI technology company and raised more than $1 million from investors. “There’s no book or video that teaches you,” Biasi says. “We’re living proof it can happen.” Biasi shared some of his insights into starting MassiveU, which included by pitching his own family on the idea in the beginning. “We share a certain kind of madness,” he acknowledges. “We’re obsessed with winning. We will

$212, 6.7%

Punta Gorda

not stop for anything.” Biasi reminded the audience that investors are looking for two things: “They want to see customers and revenues.” Entrepreneurs need to practice patience, too. That’s because Biasi says his business has taken three years to take off. “We still have to be careful about how we manage our capital,” he says. Biasi says building the business has demanded sacrifices in time away from his family and other pursuits. “We really feel the pain,” he says. But he adds: “I’ve never been so happy and challenged in my life.” Still, Biasi advises entrepreneurs need to find time to exercise and reenergize with creative activities to avoid burnout. For example, Biasi wakes up at 4:30 a.m. each day but he hits the gym at 6 a.m. to stay in shape for the long workday ahead. In addition to cycling, he enjoys playing the guitar and piano. “You’ve got to take care of yourself,” he says.

Correction The Aug. 14 Business Observer story “Senior-housing market has a new player,” included incorrect information.

Annual %change

Taxable sales, April ($ millions)

It should have said Quadrum Global is developing apartments in Long Island City. It is not developing apartments in Chicago.

INSURING OUR CLIENTS’ TRUST SINCE 1953

$3,925, 6.6%

Tampa-St. Petersburg

$718, 5.9%

Naples Sarasota-Bradenton

$1,107, 5.7%

$32,403, 7%

Florida

SOURCE: FLORIDA LEGISLATURE OFFICE OF ECONOMIC & DEMOGRAPHIC RESEARCH

Consumer spending revs up An important gauge of an area’s economic health is the amount of total taxable sales its businesses generate. Data from the state confirms anecdotal evidence of a busy spring season for taxable sales of all kinds. In April, the latest data available, annual-percentage gains in taxable sales were highest in the Winter Haven-Lakeland and Cape Coral-Fort Myers areas, with 8% and 7.2% respectively. Both areas exceeded the statewide 7% increase over that same period. Auto sales were a big driver of

taxable-sales growth in some areas. For example, auto sales jumped an annual 14.6% in the Tampa-St. Petersburg area in April. They also rose 13.4% in Punta Gorda and 12.7% in Cape Coral-Fort Myers. Another strong category within taxable sales was consumer durables, which includes big-ticket items such as furniture and appliances. On an annual percentagechange basis, consumer durables in April were particularly strong in Naples (18.1%) and SarasotaBradenton (16.2%).

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AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

BusinessObserverFL.com

HOW TO... Ever wondered about what you need to know to sell your business? Or how to expand globally? Learn these things and more from those who know best.

BRIAN TIETZ

BECKY BOKRAND, left, and GAIL MARKHAM of Fort Myers accounting firm Markham Norton Mosteller Wright know how to spot an embezzler at your company.

How to... Spot an embezzler at your company B

ecky Bokrand can’t discuss a recent case she turned over to the Federal Bureau of Investigations, but she’s seen her share of embezzlers. The certified public accountant is a fraud examiner and certified in financial forensics with the Fort Myers accounting firm of Markham Norton Mosteller Wright. “There are always red flags,” she says. One of the biggest flags is an employee who has custody or control of money at your company who is living beyond their means. For example, perhaps they’re driving a Porsche or wearing expensive jewelry. Employees in a position to handle money who don’t take vacations are another red flag. That’s because they’re unwill-

ing to share duties because they don’t want to be discovered. “The fraudster usually has been a long-term employee,” Bokrand says. It doesn’t have to be big theft. Sometimes Bokrand says “little leaks” add up over time. For example, the front desk clerk of a medical practice may have been stealing small $10 copays that patients pay over a long period. What drives some to embezzle from their employers may provide clues, so background checks before hiring someone are useful. “To me it all boils down to a human resources situation,” says firm partner Gail Markham. For example, financial hardship as a result of personal bankruptcy, illness or divorce

might encourage theft. Vices and addictions are red flags, too. Watch for unusually close relationships with vendors. Bokrand and Markham say they’ve seen cases when a vendor was a relative or close friend who regularly overbilled the company and split the money with the employee. Also, watch for people who isolate. Employees who don’t participate in company events are red flags. “Nobody knows what you’re doing,” Bokrand says. “They hold it close to the vest.” The biggest deterrent is regular verification. “That’s why internal controls are so essential to minimizing fraud,” Markham says. “Is the boss paying attention?” —Jean Gruss

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

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How To... Create an employee stockownership plan

How To... Recruit an all-star employee A LexJet employee went to hhgregg a few years ago to buy a washer and dryer. He left with something better: a future colleague. Turns out the electronics store salesman impressed the potential customer with his cheery disposition and sharp k nowledge. So t he current LexJet employee referred the salesman to the graphics and digital printing company for a job. Now the onetime hhgregg salesman is another successful hire at LexJet, one of five subsidiaries at Sarasota-based S-One Holding Corp. S-One, with about 170 employees, had $144.7 million in sales last year. That kind of referral, says the top recruiter and hiring manager at S-One, Kim Yochum, is a major reason why and how the company gets so many good employees. Yochum estimates at least half the S-One payroll has come from employee referrals. For other positions, Yochum’s method of recruiting an all-star is twofold. One, she makes sure people know about LexJet’s strengths, from its top-placeto-work awards to the open, high-tech offices. Yochum also says it’s imperative to inform a job candidate about the company’s culture. At S-One, that’s making sure people know it’s fast-paced and entrepreneurial, with an emphasis on teamwork. Transparency like that, says Yochum, sets up recruits to succeed and possibly become an all-star. Says Yochum: “It’s a frank conversation that this how we do business.” Yochum’s advice for others who seek top employees is to start internally and create a company culture people crave. Then sell it, from employees in the community to social media. “I’m basically a salesperson here,” Yochum says. “But I sell this place, not a product or a service.” — Mark Gordon

MARK WEMPLE

JENNIFER COMPTON says a key to negotiating is to never let the other side know what you’re thinking — no matter what.

How To...

Be a better negotiator S

arasota attorney Jennifer Compton learned a lot about the secrets of being a stellar negotiator early in her career. The case pitted an ID theft victim against three credit agencies. Compton’s side, the credit-reporting firms, was prepared to settle for $8,000, with some wiggle room. The other side — Compton thought, based on pre-mediation posturing — wanted nothing less than $1 million. The negotiating session ended 13 hours later, Compton recalls, with two empty Kleenex boxes, a settlement agreement for $12,000, and, most significantly, a verbal apology from the agencies. The ID theft victim, Compton learned, really only sought a voice. “She wanted the cathartic experience of telling her story,” says Compton, a partner at Shumaker, Loop & Kendrick, with a specialty in labor and employment law. “She needed them to say they understood how traumatic this was.” The lesson fits several of Compton’s tips on how to be a better negotiator, including:

• Be imaginative: Even in a strict financial dispute, there can be other resolutions. “If you are open to a creative solution,” says Compton, “you can avoid hitting a brick wall.” • Know your audience: Compton didn’t know what would be a trigger for the ID theft victim. Information is now a key ally to improve a negotiating position. • Give to get: Let the other side feel victorious. That helps in the execution of the negotiated agreement. It also helps when doing future negotiations, in credibility. “I’m not going to let them win,” says Compton. “But I want them to feel like they’ve won.” Other negotiation techniques Compton endorses play off those ideals, such as doing more listening than talking; allowing the other side to speak first; and keeping an open mind. One more: Never let the other side know what you are thinking — no matter what happens in a negotiation session. “I try not to react,” says Compton. “I never let on that I don’t like something.” — Mark Gordon

Creating an employee stockownership plan isn’t easy. And it isn’t cheap. Just ask Ted Bill, the president of Pelican Wire Co. in Naples, who sold his family company to a trust that controls the employee stock ownership plan in 2008. “We spent somewhere in the neighborhood of $600,000 to $700,000,” Bill says. Bill says it’s important to decide what such a plan is designed to accomplish. “Before you get a whole bunch of people involved, get your long-term advisers together and really talk about what you want to do,” he says. Find law yers and bankers who specialize in these kinds of transactions. Bill says advisers in the Pelican deal included Will Stewart, with PCE Investment Ba n kers in Orla ndo; tax attorney Aaron Farmer of Farmer & Associates in Naples; and James Urbach, managing partner at Urbach Law Group in Jacksonville. Remember that setting up an employee stock-ownership plan is a sale to employees. “You and the company are two different entities,” says Bill. “That’s hard for some business owners.” Each constituent in such a deal needs separate legal counsel. “You, the company and the owners each have to have their own financial and legal advisers,” Bill says. “Sometimes your estate planning is not in the best interest of the business.” Even before an employee stock-ownership plan is established, it’s important to think about the company’s structure after such a deal, such as the composition of the board of directors. “There are some rea l cor porate governa nce things that you have to think through,” Bill says. —Jean Gruss

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

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MARK WEMPLE

Joy Randels has bought 17 companies and sold nine in her career as a serial entrepreneur.

How to... Sell your business J

oy Randels is an expert in buying and selling businesses. The Tampa-based serial entrepreneur has successfully bought 17 companies and sold nine. But still, every purchase is unique, she says. There are a few different approaches to selling: You can gain attention by partnering with a larger company, focus on strategic fundraising, concentrate on retaining top talent, or find a niche audience that another company wants, Randels says. Partnering allows you to take advantage of a bigger sales force to build your customer base and generate revenue. But it also helps establish your credibility and sets you up for an acquisition, she adds. Strategic fundraising is a good choice if you have a handful of niche customers. Pursuing “strategic capital,” or an investor who has a portfolio with a similar customer base and a proven track record, is a good predictor of success. “Look at the average life expectancy of a company like yours, if they exit every one,

two, three or four years and if they go through a series A, B or C funding,” Randels says. Make sure the investor has quality exits with good acquirers. It can show how much the venture capitalist pays attention. “If there are a lot of companies strung along, that’s a bad sign,” she adds. You can also gain attention from having “rockstar alpha hires,” where a company is mostly interested in you because they want your talent. Companies looking to get snatched up by a big name like Facebook or Google, for example, must keep in mind what they’re seeking. “They are not acquiring you because they think you are awesome,” Randels says. “They’re trying to get more loyal fans.” They may want to expand to a niche that they haven’t achieved, and they know buying your company will be a fast way to do so. “The smartest thing to do is to get customers,” Randels says. “That’s why people notice you.” — Traci McMillan Beach

SELLING TIPS DO: Have a fixed number offer on the table. DON’T: Agree on a number of shares. This can change as the company changes ownership. “It can come back to bite you,” Randels says. DO: Protect your intellectual property, even if you don’t have a patent. DON’T: Share too much information during the bidding process. A nondisclosure agreement is not enough. DO: Build board of directors or advisers with skill sets or contacts you don’t have. This can be hugely helpful in a sale. DON’T: Go into an acquisition talk when you’re not ready to sell. DO: Have a third party negotiate the sale or partner with a banker. They’ll make up their fee in negotiating. DON’T: Try to negotiate yourself. You’ll end up creating baggage from the deal, which can linger. DO: Structure your own employment contract based on how involved you want to be and your exit plan. DON’T: Put off finalizing the legal language in the term sheet. “Any negotiation after won’t be in your favor,” Randels says. DO: Track your time spent, and include it in your valuation. This provides you room for negotiation. DON’T: Sell yourself short by forgetting to take into account your personal investment. DO: Make closing as fast as possible. Thirty days is great. DON’T: Drag it on. “Every day you draw it out is a chance for the company to renegotiate,” Randels says. DO: Sell early, even if you’re not as big. DON’T: Dilute yourself by raising too much money.

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

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How to...

Give the perfect speech

Forget pic t u r i ng a na ked audience. That advice for giving a great speech is outdated, not to mention a tad odd. The most memorable speeches are ones that have sincere stor y telling, blend comedy with a theme, and above all else, stick to the point. Those are some of the top tips for giving a great speech from public relations, branding and marketing entrepreneur Kristine Nickel. Now a managing partner of Sarasota-based Nickel C om mu n ic at ion s, Nickel, among other roles, is a former lead in-house spokeswomen for Tropicana and FCCI Insurance Group. She’s given hundreds of speeches in her career. It was at Lakewood Ranchbased FCCI, in t he 1990s, when Nickel helped start an FCCI chapter of Toastmasters, a global nonprofit speech-giving organization. She later led a team of senior insurance executives who gave speeches at industry conferences. The f irst step in a g reat speech, says Nickel, is an outline. “Humor is a great way to start,” she says. “It relaxes the audience. It lets them know you can do this.” Then come stories, which connect the audience to the point of the speech — and the speaker. A model for a great way to use stories, says Nickel, comes from a business icon not known for speeches: Steve Jobs. The Apple co-founder spoke at Stanford University’s 2005 commencement and opened with this: “Today I want to tell you three stories from my life. That’s it. No big deal. Just three stories.” A not her pa r t to a g reat speech comes in preparation. Go somewhere with limited distractions to practice, suggests Nickel. She goes through phrases and pacing of her speeches, for example, while walking her dog. Beyond practice and stories, Nickel says a great speech needs a prop, such as removing eyeglasses or chopping your hand through the air, to illustrate a point. And always find a spot for silence, which can refocus an audience. “A pause,” Nickel says, “can be one of the greatest tools you can use.” — Mark Gordon

How to... Manage cash flow in slow times

ED CLEMENT

DUANE HOVERSTEN, a consultant with the Small Business Development Center at Florida Gulf Coast University, helps business owners manage cash flow during slow times.

verything is negotiable. That’s a good rule to remember when it comes to managing cash flow during slower months, especially in Florida where so much business is seasonal. Duane Hoversten, a consultant with the small business development center at Florida Gulf Coast University in Fort Myers, knows all about that. He owned an operated a fertilizer plant that did most of its sales in two months out of the year. “If you run out of cash, you’re done,” Hoversten says. The first thing to do is identify the fixed and variable costs in your business. “You have to have a system for controlling that,” Hoversten says. Consider one of the biggest fixed costs: labor. Once you’ve developed a budget, for example, figure your full-time labor costs dur-

ing the slowest month of the year (Hoversten generally advises fixed full-time labor costs shouldn’t exceed 25% of sales). Any amount above that should be allocated to variable temporary labor that can be cut during slow months and increased during busy months. It’s tough to keep training new employees, Hoversten acknowledges, particularly as the labor market tightens. Then, negotiate terms with lenders, landlords and vendors. For example, bankers can structure loan payments so they’re lower during the slow months and higher during the busy months. While you’re at the bank, ask for a line of credit you can tap if you need cash. “It costs you virtually nothing,” Hoversten says. Ask the landlord for lower rent payments during slower months and higher rents dur-

ing the busy months. After analyzing your business, you may even find it pays to shut down during the slow summer months. Beware of so-called “triple net” rental rates that exclude maintenance. For example, Hoversten says tenants should negotiate for gross rents that cover unexpected problems such as a broken air-conditioning unit that typically occur during slower summer months. Ask for payment terms from vendors so you can pay them back when the cash comes in. “You have to ask for it,” Hoversten says. Finally, rethink your business to generate sales during slower summer months. Brainstorm ideas with employees and advisers. Tap into the Internet marketplace. “What can I add?” Hoversten says. — Jean Gruss

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

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How to... Run a company with a flat management system DO’S & DON’TS Here are some do’s and don’ts on how to build or turn a company into one with a flat, or horizontal, management system. These are from slides Sun Hydraulics CEO Al Carlson uses in presentations and speeches he gives on the topic. The list includes:

Sun Hydraulics CEO Al Carlson has spoken nationwide about his company’s f lat, or horizontal, management system, where titles and hierarchy are nonexistent. Audiences range from a class of Harvard M.B.A. students in Boston to a group of senior executives from a $16 billion food conglomerate who spent a few days at Sun’s Sarasota headquarters. The key to going flat: Don’ts are more important than do’s. The don’t list includes: No budgets, sales forecasts, management perks, private offices and formal performance reviews. It’s a jolt to the traditional way of running a business. Not

surprisingly, longtime Sun human resources executive Kirsten Regal says a large chunk of people who hear about it will, following human nature, try to “control the chaos.” But at Sun, flat isn’t disorderly. The company instead has a payroll of doers. People gather in pods to solve problems, from workflow to engineering to logistics. The company, which designs and manufacturers screw-in hydraulic cartridge valves, had $227.6 million in sales last year. Going to a flat management system, say Sun executives, requires a workforce with institutional knowledge of the company’s operations. Those

employees must have trust in management, and in each other, and willingly take on ownership of projects. Even with the success, there are challenges. Making sure employees in remote offices are engaged and the financial reporting requirements of being publicly traded, like Sun is, are two that standout. And before even getting into the how, there’s the question of if. Carlson says if a business is doing well, there’s no reason to make a change. “It doesn’t matter what the end-product or the service is,” Carlson says, “It’s about the culture and the success of the company.” — Mark Gordon

DO’S n Leadership (with only the necessary dose of “management”) n Leadership (with the purpose to enable) n Continuity and trust n Taking ownership n Peer review n Project orientation n Process orientation n Attention to both knowing and doing n Cultivating an adaptive and agile organization n Maintain a sense of humor DON’TS n Titles n Budgets n Sales forecasts n Management perks n Private offices n Production scheduling n Organization charts n Departmentalization n Formal performance reviews

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BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

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How to... Keep meetings short and productive Coming from the corporate marketing world, Beck Besecker recognized that meetings at most companies aren’t productive. That’s why his company has rules to keep meetings quick and to the point. The first rule is no meetings in the morning because people tend to be most productive when they first get in to the office. “You let people work when they are smartest,” says Besecker, CEO of Marxent Labs, a 50-employee virtual reality firm. The second rule is no meeting can last longer than 30 minutes. In a corporate environment, “the first 15 minutes is BS, then you have the meeting” and then you fill the rest of the booked time, Besecker says. “You’re paying for people sitting and talking.” Marxent Labs avoids this trap by programming 15 minutes, instead of an hour, as the default meeting time on company calendars. The third rule is “advise and move forward,” according to Besecker. Employees are encouraged to let leaders and peers know the direction they are moving in and tell them “if you have a concern, let me know because I’m moving forward with it tomorrow.” This rule helps with momentum, he says. It’s not that collaboration isn’t important. The key is recognizing meetings as a fundamental underpinning of your company’s culture, Besecker says. Each morning Marxent does a “stand-up,” where each employee takes 5 to 10 seconds to share with a small team what she did yesterday and what she plans to accomplish today. “The daily stand-ups eliminate the need for 10 meetings during the week,” Besecker says. The company also has what it calls the “top meeting,” where employees share their top three accomplishments. It’s a moment for a “humble brag” in front of their peers and leaders about two things they’ve accomplished and one shout out to another team member. “It provides visibility to other teams and projects,” Besecker adds. Following the lead from companies with 20,000 employees who still find a way to build the stand-up and top meetings into their company culture, Besecker plans to keep this visibility. “As we continue to grow, that will never go.” — Traci McMillan Beach

LORI SAX

You can never start too early with your succession plan, advises Sarasota attorney JO ANN KOONTZ.

How to... Create a successful succession plan A

fundamental element for strong succession, says Sarasota business attorney Jo Ann Koontz, is to plan for it, early and often. “Lack of planning at the start will leave you with potholes later,” says Koontz, a dual attorney/CPA who runs a 10-person law firm. Succession planning should start so early Koontz advises her clients to do it the first day of a new business — counsel usually ignored. “You don’t want to die without a will, and you shouldn’t run a business without a succession plan,” she says. “But most people don’t want to

take the time to do it. They don’t want to deal with immortality.” A good succession plan isn’t just identifying which child will run the business. For succession to work, says Koontz, a business owner has to foster an environment where someone else can take over the company with minimal disruption. That goes from an employee who has been there for years to a new owner. To create that environment, Koontz suggests clients keep detailed up-todate records, on everything from customer lists to vendors to software systems. That especially includes the little things

in the owner’s head, the stuff no one else knows about. Lack of detailed information there, says Koontz, can derail a succession strategy. The next step is to determine the particulars, from who gets shares to how the company is valued. With a plan in place, a business owner should meet with an attorney and insurance professional at least once a year to make sure it’s in good shape. A final key point to a good succession plan: Maintain the discipline to stick to it. “Have it in writing,” says Koontz, “and actually follow it.” — Mark Gordon

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

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How to ... Keep employees (and morale) during rough patches

MARK WEMPLE

Layoffs can kill a company’s morale, but RYAN TOTH says doing it in an honest and compassionate way can retain loyalty.

eople remember how they are treated in both the good and the bad times, according to Ryan Toth, Beck Construction’s regional director of Florida. The 67-employee company has been through both. The Tampa office of Beck Construction was hit hard by the economic dow nturn — the company went from 110 employees to 35. “People responded to us being honest with them,” Toth says. “We don’t have secrets.” When they knew times were going to be tough, they let employees know in advance. For example, when leaders sensed the business was going to take a dip, they warned people that they might be receiving their last bonus. “We said, ‘Make sure you save this one because it will be a tough roller coaster ride,’” Toth recalls.

Beck works hard to have twosided conversations, making sure the company is straightforward, open and clear about what’s happening, Toth says. You can’t wait to start those conversations until they are forced. T he compa ny a lso t r ied to provide a soft landing for those let go. It had pre-printed resumes, letters of recommendation and benefits information prepared, along with as big of a severance package as possible during its layoffs. Toth says there weren’t any burned bridges. “We treated people fairly,” he says. Now the tough part is keeping employees engaged as more opportunities become available in the marketplace. “People respond to a f lexible place to work and a sense of autonomy,” Toth says. That includes letting people make decisions about space. When

one team knew it had a budget to buy a new conference table, it decided to buy a ping-pong table to serve a dual purpose as a meeting place and an area to relax. Another group decided to convert its space into a site for bikes, and hosts a weekly bike ride. A third group decided to use its budget to buy grills. It’s important to keep close tabs on employee engagement, Toth says. A recent survey showed Beck employees wanted more recognition and engagement from senior managers. The company made a plan to address the issue by encouraging leaders to visit job sites and providing thank-you gift cards to reward good work. The final key is monitoring salary to make sure the company is paying at or above market. “Our goal internally is to shoot to pay 65% to market,” Toth says. — Traci McMillan Beach

How to... Pitch investors

David Diamond won’t believe you if you tell him your business idea is so unique there aren’t any competitors. As the founder of StartupAngel.net in Naples, Diamond has heard hundreds of investment pitches. “Don’t be afraid to say you have competitors,” says Diamond, who also is the cofounder and president of DeAngelis Diamond Construction, one of the largest commercial builders on the Gulf Coast. Diamond says investors are leery of hype because many are entrepreneurs themselves. “Investors are going to see through that real quickly,” he says. Diamond, who teaches university students how to pitch their business ideas, advises entrepreneurs practice their pitches and videotape themselves with their smart phone. “I try to tell people they need to have two or three pitches ready to go because you don’t know how much time you’re going to have,” he says. You’ll want a short one-minute elevator pitch in your repertoire and another one or two if you get a longer audience with an investor. “Any time you have an opportunity to speak in public, always say yes,” says Diamond, who confesses he hated speech class. The pitch needs to be about people. “Everyone thinks their idea is unique, but it probably isn’t,” Diamond says. Diamond says investors look for tenacity, those people who are bright and have overcome adversity in the past. “Is this the person who can execute this idea? Are they going to stick with this because it’s going to be hard?” he says. “You need more than the passion; a lot of people are passionate, but they still quit.” Stand out with a short, simple and memorable pitch. Use a funny photo, for example. Tell investors how you discovered your business idea with a personal anecdote. “It needs to be told as a story, and a lot of people forget that,” says Diamond, who listens to many high-tech pitches. “Techies want to get into the weeds of what they created, but you need to tell it as a story.” —Jean Gruss

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

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How to... Expand globally

Expanding globally is not an easy task. That’s why you need to have the desire to do it, says Juan Romero, president and CEO of architecture firm api(+). “Getting to work internationally has to be an aspiration,” he says. First and foremost, executives need to know where they want to work and why, Romero says. He knew from the beginning that he wanted to work overseas to protect his company from a downturn stateside. He was so ready to be a global company that he made it part of the name — api(+) stands for Architecture Plus International. Around 25% of the Tampa-based firm’s business is outside the U.S., with a portfolio including work in China, Japan, New Zealand, England, Venezuela and Canada. “You have to frankly enjoy it because the time difference is enough to drive you crazy,” Romero says. He’s had his fair share of conference calls at 3 a.m. Dealing with language barriers can be a whole different issue that also requires a lot of patience, he says. Another big challenge can be collections. You should be careful on establishing the terms of payment and what happens if currency is devalued. Technical and contractual language can also become a problem — even in a country where English is a primary language. Dig through that up front, Romero advises. A good place to start is by partnering with an American company doing work overseas, Romero says. Understanding how to conduct international business legally can be tricky, so partnering with a firm that already knows the ins and outs is the best way to lower your risk. No matter where you are working, understanding culture should be your top priority, Romero says. Romero references the book “Kiss, Bow or Shake Hands” to learn how to conduct business in different cultures. For example, executives in some countries prefer to have a social moment to build trust before diving into business. W hen working in Mexico, meetings start late and extend into a couple-hour lunch, Romero says. On the other hand, “If you are a minute late in Japan, you are in trouble,” he says. But that’s why Romero likes it. “It’s what makes it interesting,” he says. — Traci McMillan Beach

ED CLEMENT

DUDLEY GOODLETTE says better technology today lets business owners track legislative bills online.

How to... Stop legislation that hurts your business D

udley Goodlette has had his fair share of latenight calls from worried business owners. Goodlette, one of the most ef fect ive a nd long-ser v ing state legislators from Naples, says many bills filed never leave the committee hearings. “I did have a lot of calls from people whose hair was on fire,” he chuckles. Many times, his answer was: “Don’t worry, it’ll never be heard.” But somet i mes busi ness ow ners need to be v igilant about legislation that might harm their interests. “It’s not hard for someone to make a difference,” Goodlette says. It’s easier to track legislation than in the past. “Now, everything in the legislative process

is online,” Goodlette says. “You can track a bill by subject matter.” Sta r t by contact ing your industry’s trade association. Many have lobbyists who know their way around the legislative halls. “There’s also the Florida Chamber of Commerce, which has a very extensive legislative program,” Goodlette says. Take your issue to local legislators. “Put your concern on their radar screen,” Goodlette counsels. “If they’re not on a committee, they can refer you.” W hen he was a legislator, Goodlette says he was turned off by blast emails. “All of a sudden you get 300 emails and they all say the same thing,” he says. “That is not an effective way. I was much more per-

suaded by someone who would send me a personal email.” Traveling to Tallahassee is never a bad idea, but it might be difficult to track down legislators in the heated part of the session. “A lot of it depends on the lead time; going to Tallahassee midway through the session may or may not be advisable,” Goodlette says. Recruiting media to push your agenda should only be a last resort, Goodlette says. “I was never a fan of the gotcha approach; I’d rather have someone reach out to me,” he says. “I don’t think slamming them or humiliating [in the media] is a good idea, but sometimes it’s effective — if it’s a hail Mary.” —Jean Gruss

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

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How to... Turn it off while on vacation

How to ... Manufacture in China

MARK WEMPLE

DOUG VAN DYKE says a great way to unplug is to leave the country, which makes it more expensive to stay connected.

urning off all work-related communications while away from work can be agonizingly difficult, says executive coach and consultant Doug Van Dyke. But not impossible. Van Dyke, who has worked with top executives at American Express, Humana, Sysco Foods and Bright House Networks, among other companies, says there are ways to shut down and relax. One is to get out of the United States. That’s no joke. Van Dyke, who runs Bradentonbased Leadership Simplified, says going abroad forces the issue. “It’s f lat out easier to unplug when you go interna-

tional,” Van Dyke says. “Connect i ng i nter nat iona l ly is more difficult and often a lot more expensive.” Another way to turn it off, that doesn’t necessarily involve a global trip, is to set an agenda. The agenda, says Van Dyke, could be “packed with total relaxation,” but at least it’s in writing. Then it’s something to do that doesn’t involve work, checking emails, etc. No matter where the trip is, or what the agenda is, Van Dyke says it’s essential to go to a spot where decision-making is minimal. That’s because executives make decisions constantly, so a vacation, even if there’s a few work phone calls,

should be a time to step out of the routine. “Decision fatigue is real,” Van Dyke says. “You need to give yourself a break.” Van Dyke ta lks reg ularly with clients about life-work ba lance, if not specifica lly the issue of shutting dow n on vacation. While he recognizes how important it is for well-being, he’s not perfect at it, either. On a family trip to Australia and New Zealand this summer, Van Dyke totally shut it off. Other getaways, not so much. “A m I g uilt y of check ing ema i l when on vacat ion? ” asks Van Dyke. “Yes. I’m an offender.” — Mark Gordon

Four times a year, Daniel Fisher travels to China with a small entourage of agents and translators to meet face-to-face with some 60 manufacturers. Fisher’s company, Floral Marketing in Port Charlotte, sells Chinese-made jewelry to flower shops all over the country. The entrepreneur has developed an elaborate network of smaller family-operated manufacturers in China. To sta rt, Fisher suggests checking out the online Chinese marketplace Alibaba. “You put in any item you’re looking for and it will give you a list of vendors,” Fisher says. “You can instantly email them and the next day you’re going to get responses.” Although he uses Skype and email, Fisher prefers to travel to China to meet factory owners in person. “I want to know who I’m dealing with,” Fisher says. “I want to be a big fish in a small pond.” One way to network is to attend the semi-annual Canton Trade Fair in Guangzhou. Look for manufacturers with booths that are neat, orderly and tidy. “If you have a dirty booth, you have a dirty factory,” Fisher says. Agents in China can check on your goods at the factory and arrange for shipping and customs in exchange for a commission. Fisher says he’s found good agents through his connections in the industry. “Factory owners are a great resource,” Fisher adds. “They’re very good at putting us in touch with people.” Fisher says he gives first shot at new products to factories with whom he’s already working. In turn, factory owners repay his loyalty with information about new products and fashion trends. “There’s items I pay more than I should, but I know who I’m dealing with and I don’t have to worry about gimmicks,” he says. Most large banks have no problems handling wire transfers to Chinese manufacturers, which Fisher pays in both U.S. dollars and local currency depending on the manufacturer’s preference. To avoid wire fees, more factories have started using PayPal, he says. Language is rarely an issue. “They either know English or they use Google Translate,” Fisher says. “If they’re doing export, they’re going to have people who are fluent in English because it’s the international language.” —Jean Gruss

commercial real estate

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BusinessObserverFL.com

Rivergate owner plans renovations Banyan Street Capital is planning to invest more than $10 million to upgrade the 31-story RivK.L. ergate Tower MCQUAID along Tampa’s Riverwalk to “elevate the project to a new standard for downtown,” says one of its principals. Renovations are expected in the 400 N. Ashley Drive building’s common areas, lighting and restrooms, says Dale Peterson, a CBRE Group senior vice president who represented sellers Mount Kellett Capital Management and Morning Calm Management in the $70 million transaction. K. Taylor White, a Banyan Street senior managing director, says the Miami-based company believes tenants are seeking a more urban experience today, and will flock to buildings like Rivergate as a result. The tower is currently 80% occupied by tenants such as Butler Pappas, Digital Hands, Sykes Enterprises and Wilson Human Capital, among others. The improvements to the 27-year-old Rivergate, which was built at a cost of $150 million, also are expected to bump rents upward from a current rate of $23 per square foot to $25 per square foot.

Dimmitt sales to boost city tax rolls

BRIAN TIETZ

KAREN CROWTHER, a Colliers International Southwest Florida principal and the brokerage firm’s director of retail services, stands in front of a shuttered SweetBay supermarket in Fort Myers she is marketing to lease. The 6800 Plantation Shoppes Drive closed when SweetBay elected to shutter its Florida stores, many of which were sold to competitor Winn-Dixie.

Sweeping up

SweetBay

The grocery chain’s sale leaves behind lots of vacancies, and lots of challenges in how to fill them.

N If current projections hold and Dimmitt Automotive Group is able to sell between 15 and 18 luxury cars monthly from its planned Sarasota showroom, the company won’t be the only one to benefit. So will city tax coffers. That’s because Dimmitt has registered to have a dealer’s license in Sarasota, in addition to its Tampa base, which means local sales tax will be channeled through the state back to the city of Sarasota. “We want very much to be part of the local community, that’s how we operate,” says Scott Larguier, Dimmitt’s chief operating officer. Dimmitt’s sales of RollsRoyce, Aston Martin, McLaren and other upscale vehicles could mean in excess of $3 million in new city taxes, says Wayne Ruben, who acquired the State Street Garage ground-floor space for $1.77 million where Dimmitt is scheduled to open in October. Dimmitt currently operates dealerships in Tampa, St. Petersburg and Clearwater.

early two years after Sweetbay Supermarkets closed statewide, area commercial real estate brokerage firms are working through the slog to lease them to new tenants. Progress has been slow, but steady, as former Sweetbay stores have been absorbed by grocers such as Walmart and converted to non-traditional retail uses. In one instance, an antique car dealer opened a showroom in Charlotte County where Sweetbay had previously sold produce, meats and other goods. Of the 40 Sweetbay stores that were shuttered in Florida, roughly half remain uncommitted, including centers in Plant City, Tampa, Largo, Sarasota and Punta Gorda, according to a list from research firm CoStar. “The size of the boxes we’re dealing with is not in vogue with many retailers or grocers today,” says Andrew Couch, managing director of DJM

The market has changed so dramatically in the past couple of years. Karen Crowther | Colliers International Southwest Florida partner

Real Estate, a New York-based retail specialist that has been marketing the former supermarkets together with regional brokerages. “Most grocers today want about 20,000 square feet, and the smallest store Sweetbay had was 31,000 square feet,” Couch added. “The largest measures 55,000 square feet. That’s been our biggest challenge.” Tampa-based Sweetbay began closing dozens of underperforming stores in 2013 amid a biforcation of consumer grocery tastes in the aftermath of the economic recession of the past decade. That sa me yea r, Jacksonv illebased Bi-Lo Holdings agreed to buy 83 Sweetbay stores in a $265 million deal. Following the purchase, Bi-Lo announced plans to convert many of the stores to its Winn-Dixie brand and “retire” the Sweetbay name. Complicating the re-leasing process, many of the Sweetbay stores were in tertiary locations and shopping centers without high-traffic counts and Class B co-tenants. At the same time, growing grocery chains like Walmart Neighborhood Markets, Whole Foods Market, Aldi and others have preferred to open standalone stores rather than locate in established centers in some cases. And in a few cases, shopping center landlords with Sweetbay leases have exercised their right to reject new tenants because some deals have as much as a decade remaining until they expire, while some merchants have balked at asking rental rates for the former stores.

Former Sweetbay landlords ranging from Gator Investments, which owns the Town & Country Plaza in Sarasota, to Bonita Bay Group, which controls a Lee County strip center once occupied by Sweetbay, did not return telephone calls or emails for comment. Still, DJM’s willingness to subdivide the spaces and former Sweetbay parent Delhaize Group’s multimillion investment in the former Kash N’ Karry stores beginning in 2004 has attracted grocers and other merchants alike. “The market has changed so dramatically in the past couple of years,” says Karen Crowther, a principal with Colliers International Southwest Florida and t he brokerage firm’s director of retail services, who is marketing a Fort Myers Sweetbay for re-lease. “Things have improved so quickly that various retailers have come back into the market looking to accommodate inventories or showrooms,” she added. Those users — and potential tenants for the Sweetbay stores — include furniture sellers, Goodwill thrift stores, call center operators, ethnic grocers and fitness centers. LA Fitness, for instance, has taken down a Sarasota Sweetbay and may be looking at others. In a few cases, shopping center owners have reabsorbed the supermarket spots, Couch says. “Each one of these stores has a different story,” he added. – K.L. McQuaid

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

transaction spotlight |

BusinessObserverFL.com

BY SEAN ROTH | RESEARCH EDITOR

Time to ride or time to sell? The Pinard family’s sale of Black Widow Harley-Davidson highlights several trends driving a national jump in Harley dealership sales. BUYER: AIP Enterprises LLC (managers: Robert King II, William Sullivan Jr., Alfred Flores and Tim Cliver), Port Charlotte SELLER: Horsepower Investments LLC, PROPERTY: 2208 and 2224 El Jobean Road, Port Charlotte PRICE: $4.5 million PREVIOUS PRICE: $5 million, January 2007 LAW FIRM ON DEED: Bass Sox Mercer, Tallahassee

Two Texas businessmen purchased the Black Widow Harley-Davidson dealership in Port Charlotte, one of a growing number of buyers nationwide interested in the dealerships. The purchase also included the dealership real estate, a 3.89-acre parcel with two buildings, for $4.5 million. The price equated to $117 per square foot. The site, which is northeast of the Charlotte Sports Park, contains the 11-year-old, 31,312-square-foot Harley dealership and service building and an adjacent nine-year-old, 7,200-squarefoot retail strip center. George Chaconas, an active Harley dealership broker in the Tampa office of Performance Brokerage Services, handled the sale of Armand and Irene Pinard’s dealership business and real estate. He says it follows a substantial increase in Harley dealership sales and prices over the past three years. Looking just at sales he handled, which is significant, Chaconas went from almost no sales during the recession to about 25 Harley dealership sales a year starting around the second half of 2012. He expects to exceed that number this year. A big reason for the growing sales is that the average age of current HarleyDavidson dealership owners is climbing. The Pinards themselves say they choose to sell so they could retire. “A large amount of the dealer body is aging and considering retirement,” he says. “They’re looking to a younger, better capitalized group of buyers.” That additional financial wherewith-

ECHO Realty pays $20M for Shoppes at Price Crossings BUYER: Echo Price Crossing LLC (Echo Portfolio II L.P), Pittsburgh SELLER: Pacolet Milliken Enterprises Inc. PROPERTY: 1085 and 1251 S. Toledo Blade Blvd., North Port PRICE: $20 million PREVIOUS PRICE: $14.13 million, June 2012

PLANS, DESCRIPTION: ECHO Realty purchased the 72,301-square-foot The Shoppes at Price Crossings for $20 million. The price equated to $277 per square foot. The 11.7-acre property features two strip center buildings that were both constructed in 2007. The center is anchored by a Publix grocery store. It had a single vacancy at the time of the sale. The purchase was done as part of ECHO Realty’s acquisition of a portfolio of eight grocery anchored retail centers across the Southeast. The portfolio included five Harris Teeters-anchored centers and two other Publix-anchored centers: Partin Village in Kissimmee and Riverwood Town Center in Evans, Ga. The eight-center portfolio adds more than 500,000 square feet to ECHO Realty’s shopping center inventory.

LEASES n Oriak Inc. leased 3,000 square feet of industrial and light-warehouse space located at 16121 Pine Ridge Road, Suite 4, Fort Myers from William and Sandra Boyce. Shawn Stoneburner and Gary Tasman of Cushman and Wakefield | Commercial Property Southwest Florida LLC handled the transaction. n Investment Seminars Inc. recently leased 7,128 square feet of office space at 1626 Ringling Blvd., Suite 400, Sarasota. Mike Migone in the downtown office of Sperry Van Ness Commercial Advisory Group handled the transaction.

al is important, because unlike in prior years, particularly during the recession, a larger number of the dealerships are performing and profitable. While the Harley-Davidson dealerships are independently owned and operated with their own balance sheets, the parent company Harley-Davidson Inc. shows a clear financial recovery from the recession. After bottoming out with a net loss of $55.12 million in 2009, the company’s net income has grown every year since. Its net income grew 15.07% from 2013 to 2014 to its current $844.61 million. “There really wasn’t a lot of activity before, except for dealerships that were in trouble,” Chaconas says. “They were mainly asset sales. Now what’s trading is averaging a three to four times multiple of adjusted net profit. The more expensive properties can go as high as five times. We are seeing a lot more buyers and sellers entering the space. I could argue it’s even getting kind of frothy. It might be close to a peak.” Along with those healthier bottom lines, there’s the availability of relatively cheap traditional financing. Chaconas expects overall demand and business values to decline if interest rates rise significantly. The Black Widow Harley-Davidson’s main buyer, Bert King, a well-known automotive executive formerly with Phoenix-based Larry Van Tuyl Automotive Group and Orr Nissan in Corinth,

Texas, was also drawn by the HarleyDavidson brand. It has been a life goal of his to own a Harley-Davidson dealership for several years. When he most recently decided to leave the car business, he started looking at HarleyDavidson dealerships throughout much of the United States. “There is really nothing like a HarleyDavidson,” King says. “It’s really a brand image that stands out, for the American Dream and freedom. Its not hard to say, I would rather be in the Harley-Davidson business than any other business.” King says the dealership location made sense because he has family and friends in Port Charlotte and was able to cross off a second life goal of owning a beach house. At the same time, the dealership was small enough that he could put his personal stamp on it. He is planning a number of improvements, such as new processes and technology to streamline operations and outdoor improvements. King is partnering in the venture with Willy Sullivan, who operates American Eagle Harley-Davidson in Corinth, Texas. The duo plans to keep the Black Widow Harley-Davidson name. The purchase entity, Horsepower Investments LLC, mortgaged the dealership real estate to Fidelity Bank for $6.13 million.

Barron Collier Cos., partner Lakeland Regional Health buy Park North buildings Systems buys land for south campus BUYER: Creekside West Inc. (owners: R. Blakeslee, Bradley Boaz, Katherine Sproul, Barron Collier III, Douglas Baird, Lamar Villere, Phyllis Alden and Brian Goguen) (50% interest), Naples and Foxrock Newgate 5150 Realty LLC (manager: Jason Ward) (50%), Quincy, Mass. SELLER: Commercial Development Co. PROPERTY: 5117-5137 Castello Drive, Naples PRICE: $2.9 million PREVIOUS PRICE: $2.45 million, September 1998 LAW FIRM ON DEED: Roetzel & Andress LPA, Naples PLANS, DESCRIPTION:

The Barron Collier Cos. and its frequent partner, Quincy, Mass.-based FoxRock Properties, purchased the six-building Park North office development for $2.9 million. The price equated to $149 per square foot. Built in 1994, the connected office buildings have a total of 19,500 square feet of space. It was 85% occupied at the time of the sale. Clint Sherwood and David Stevens of Investment Properties Corp. handled the transaction.

BUYER: Lakeland Regional Health Systems Inc. (officers: Evan Jones, Dr. Jay Mulaney, William Mutz, Dr. Elaine Thompson and Jack Harrell), Lakeland SELLER: KMT Farm and Timber Co. LLC PROPERTY: a portion of U.S. Highway 98 south of County Road 540A, Bartow PRICE: $7.5 million LAW FIRM ON DEED: Peterson & Myers PA, Lakeland PLANS, DESCRIPTION:

Lakeland Regional Health purchased 100 acres of land in northern Bartow for $7.5 million. The price equated to $75,000 per acre. The hospital is still developing its final plans for the site, but expects to create a freestanding emergency department, satellite cancer services and physician offices. Lakeland Regional Health officials had not replied to requests for additional information as of deadline. Lakeland Regional Health operates the 851-bed Lakeland Regional Health Medical Center.

n HB Sealing Products Inc. leased 38,291 square feet at 8711 Florida Mining Blvd., Tampa, Florida from Duke Realty. Julia Rettig, Jeff Lamm and Mike Davis of Cushman & Wakefield represented the landlord. n L.G. Howard LLC leased a 2,400-square-foot hair salon and spa in Oaks Center at 8620 S. Tamiami Trail, Suites H and J, Sarasota from Oaks Center LLC. Nick DeVito II and Joanna Ginder-Ashley of Ian Black Real Estate represented the landlord, and Michele Fuller and Sean Dreznin of Ian Black Real Estate represented the tenant. n Escape Room Adventures LLC leased 2,211 square feet of office space in Pinebrook Pine at 12995 S. Cleveland Ave., Unit 217, Fort Myers from Pinebrook Pine LLC. John Albion of Cushman Wakefield | Commercial Property Southwest Florida LLC. handled the transaction. n The Anvil Group leased a 7,795-square-foot space at 501 E. Kennedy Blvd. Suite 650, Tampa. Mary Clare Codd of Colliers International Tampa Bay represented the tenant, and Mercedes Angell of Cushman & Wakefield represented the landlord. n Dowe Gallagher Aerospace LLC leased 2,128 square feet of office space in Northern Trust Plaza at 1515 Ringling Blvd., Suite 840, Sarasota from Pointe West Plaza LLC. Amy MacDougall and Jag Grewal of Ian Black Real Estate represented the tenant. n The Cabinet Collector leased 1,000 square feet of retail space in the Pelican Village Plaza at 24830 S. Tamiami Trail, Suite 3300, Naples from The Pelican Village Plaza LLC. John Albion and Gary Tasman of Cushman and Wakefield | Commercial Property Southwest Florida LLC represented the tenant, and Crandall Commercial Group LLC represented the landlord. n ThyssenKrupp Elevator Corp. leased 14,169 square feet at 4710 Eisenhower Blvd., Tampa from The Peter Lawrence Cos. Cushman & Wakefield handled the transaction.

commercial real estate

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BusinessObserverFL.com

profile |

movingup

BY K.L. MCQUAID | COMMERCIAL REAL ESTATE EDITOR

KARL “DEE” MARET Broker, Tampa Karl “Dee” Maret grew up in Dalton, Ga., with an unusual name, and years later took an unusual path to a career in commercial real estate. Today, Maret — the “Dee” is short for Duane, his middle name, a moniker used to differentiate him

from his father, Karl — is managing director for Coldwell Banker Commercial’s six Florida offices, ranging from Pensacola to Naples. And though many of Maret’s Gulf Coast competitors chase larger deals, Coldwell Banker’s 130 commercial agents in the state — 48 from Tampa to Naples — focus on relatively smaller sales transactions and on solidifying a niche. “Our bread and butter are deals ranging from $500,000 to $10 million,” Maret says. “There are tons of investors in that arena, and we provide them with individualized attention. We’ve also found that if we concentrate on smaller to mid-sized markets, we can really dominate.” Unlike many commercial brokerages, too, Coldwell Banker gets a boost from a vast resident agent referral network under parent NRT’s corporate umbrella. The numbers bear out the strategy’s success. Last year, Coldwell Banker’s Florida commercial agents closed nearly $601 million in sales and completed leases valued at just less than $223 million. “Coldwell Banker has great brand-name awareness,” says Maret, 54. “People know who we are because the company has been around since 1906.” But while Coldwell Banker’s trajectory has been steady, Maret’s own path to real estate was a circuitous one. Beginning in 1987, he worked as a reporter and editor for the Tampa Tribune and then-St. Petersburg Times, before becoming the top editor for a small community paper in Georgia for five years. In 2004, he left journalism and moved back to Florida, where he earned his real estate license and went to work selling residential properties for Adams Cameron

transactions |

First National Bank of McMinnville, Tennessee as personal representative of the Estate of Stephen P. Smith deceased sold to 3873 Davis LLC, $2,110,000, Mortgage: $2,200,000, First Florida Integrity Bank, Previous Price: $27,000, October 1972, warehouse or distribution terminal, 0.77 acres, 3891 Davis Blvd. and store, 1.98 acres, 3883 Davis Blvd., 5156092.

CHARLOTTE COUNTY AIP Enterprises LLC sold to Horsepower Investments LLC, $4,500,000, Mortgage: $6,126,000, Fidelity Bank, lots 1-4, block 3318 and 1-9, block 3319, Port Charlotte Subdivision, 3998-0856.

Collier 36 LLC sold to D.R. Horton Inc., $1,957,000, Previous Price: $900,000, January 2014, acreage, 9.24 acres, in SEC 35-48S-26E, 5158120.

KE Talis Park Properties LLC sold to Corsica Talis Park Owner LLC, $5,000,000, Mortgage: $15,000,000, Texas Capital Bank National Association, tract F-1A Corsica at Talis Park Replat, 5156288. 848 First LLC sold to ASNC LLC, $3,225,000, Mortgage: $2,741,250, First Florida Integrity Bank, Previous Price: $2,000,000, May 2013, multi-story office building, 0.89 acres, 848 First Ave. N., 5156814.

LARA BARGAR

Cushman & Wakefield | Commercial Property Southwest Florida Lara Bargar has joined Cushman & Wakefield | Commercial Property Southwest Florida as director of retail. She will be responsible for business development, primarily in retail and office leasing. Prior to joining Cushman & Wakefield | Commercial Property Southwest Florida, Bargar was a senior leasing associate broker for Wheeler/Brand Management Co. in Duluth, Ga.. She has closed more than $100 million in lease transactions since 2008.

We’ve also found that if we concentrate on smaller to midsized markets, we can really dominate. Karl “Dee” Maret | managing director — Florida, Coldwell Banker Commercial

BY SEAN ROTH | RESEARCH EDITOR

DEEDS/MORTGAGES The following real estate transactions more than $1 million were filed in Charlotte, Collier, Hillsborough, Lee, Manatee, Pasco, Pinellas, Polk and Sarasota county courthouses. The information lists the seller, buyer, amount of sale, previous price and date, mortgage and lender, if available, address and book and page of the document.

COLLIER COUNTY Naples Multifamily DST sold to Winifred Row LLC, $20,250,000, Mortgage: $15,000,000, New York Community Bank, Previous Price: $15,900,000, August 2013, multifamily, 11.53 acres, 3536 and 3539 Winifred Row, 5155460.

& Co., the largest independently owned brokerage firm in Volusia County. Out of roughly 250 agents, Maret was named its Rookie of the Year. “He was totally new to real estate, but he was willing to learn and do whatever he needed to do for the customer,” said Marge Allison, an Adams Cameron manager and associate broker. “His personality is very easy going; he makes people feel comfortable.” Three years after joining Adams Cameron, Maret moved again — this time to Tampa and into commercial real estate. Joining Coldwell Banker, he sold and leased commercial properties for the next five years, weathering the recession by relying on bank-owned deals and Certified Commercial Investment Member training to hone his skills. “I found him to be honest, and he has old-fashioned values,” says Bob Kershner, who hired Maret to sell some Ybor City industrial property in 2009. “He does his homework and put the time in to get the job done right. And he never answered a question if he didn’t know the answer. He’d find out and follow up.” In 2012, Maret transitioned into management with Coldwell Banker, and was named Tampa district manager the following year. In 2014, he took over Coldwell Banker’s commercial division for the entire state. “I realized I’d spent most of my professional life in management or leadership roles,” Maret says. “And the truth is, I am probably a better manager than I was a sales person, though with Coldwell Banker, that’s made easier because we have all the tools and the expertise managers need to help agents, and we have a great network and footprint in Florida.”

Mandalay Place LLC sold to D.R. Horton Inc., $1,600,000, Previous Price: $880,000, December 2012, vacant residential, 7.08 acres, 3085 and 3111 Bailey Lane and in SEC 23-49S-25E, 5158122. HILLSBOROUGH COUNTY Point Plaza Partners LLC sold to Temple Terrace Plaza LLC, $7,450,000, Mortgage: $4,842,500, Flushing Bank, Previous Price: $3,300,000, January 2011, community shopping center, 8701 Temple Terrace Highway, Temple Terrace, 2015302468. K&M Buschbaum Inc. sold to Parkview Tampa LLC, $4,625,000, Mortgage: $3,700,000, Centerline Mortgage Partners Inc., Previous Price: $6,250,000, April 2007, multifamily residential, 10905 Bourbon Court, unit 33, Tampa, 2015301372.

Hillsborough 2324 LLC sold to Ur Store Tampa LLC, $3,550,000, Mortgage: $3,392,500, USAmeriBank, Previous Price: $3,250,000, December 2005, warehouse department store, 2320 W. Hillsborough Ave., Tampa, 2015300339. Speed Wash & Lube LLC sold to Trinity Investment Group of BBD LLC, $3,155,000, Mortgage: $2,448,000, Regions Bank, lot 1, Cypress of Tampa, 2015307044. Neighborhood Realty Partners Florida LLC sold to Glencord Tampa Owner LLC and Giustizzia Agressivo Tampa Owner LLC, $3,145,000, Previous Price: $798,000, March 2015, fast food, 4411 W. Gandy Blvd., Tampa, 2015303127. Scuillin Real Estate V LLC sold to 360 Riverview GY LLC, $2,885,000, in SEC 17-31S-20E, 2015305169. Thonotosassa Crossings LLC sold to Tampa Real Estate Associates LLC, $2,850,000, Previous Price: $1,780,000, January 2007, fast food, 2701 Thonotosassa Road, Plant City, 2015301546. HRES Bougainville LLC sold to 6725 Spin LLC (40.9099% interest) and ATT Central Park Properties LLC (59.0901%), $2,224,000, Previous Price: $360,000, October 2014, vacant commercial, 10220 N. 30th St., Tampa, 2015306104.

Palmetto Ruskin-First National Dr LLC sold to Jeanette Cothran, $1,898,531, Previous Price: $245,000, October 2014, vacant commercial, 2709 S. 41 Highway, Ruskin, 2015308080. Johazel Corp. sold to LG Sheldon & Linebaugh LLC, $1,605,000, Mortgage: $1,510,000, USAmeriBank, Previous Price: $1,924,800, April 2000, convenience store or gas station, 10601 Sheldon Road, Tampa, 2015304999. The Bank of Tampa sold to Jefferson Bank of Florida, $1,310,000, Previous Price: $2,505,000, October 1998, financial, 15302 Amberly Drive, Tampa, 2015307146. LEE COUNTY Beck Group of FT Myers LLC sold to Quadrum Lakes Park LLC, $10,750,000, Previous Price: $3,000,000, June 2004, vacant residential, 7650 Gladiolus Drive and 7210 Congdon Road, Fort Myers, 2015000169270. MLQ-ELD LLC sold to Forum Park II LLC, $10,169,300, Mortgage: $7,000,000, Venture Bank, Previous Price: $11,500,000, December 2011, multi-story office, 9160 Forum Corporate Parkway, Fort Myers in Forum Corporate Park, 2015000173399.

See TRANSACTIONS page 19

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

TRANSACTIONS from page 18 North American Savings Bank FSB sold to DHBC LLC, $1,750,000, Previous Price: $2,402,115, February 2013, vacant commercial, 9011 Dani Drive, Fort Myers, 2015000172764. Colonial Extension 322 LLC sold to Wawa Florida LLC, $1,500,000, grazing land, 31.85 acres, lot 1 Wawa at Crossroads, Fort Myers, 2015000173570. Suzanne Robinson and Tom Gore as co-trustee to A Land Trust Agreement dated April 7, 1987 sold to JMDH Real Estate of Fort Myers LLC, $1,150,000, Previous Price: $1,058,000, April 1987, vacant commercial, 7.48 acres, a portion of Tamiami Trail, Fort Myers, 2015000171603. D-Yang LLC sold to O’Reilly Automotive Stores Inc., $1,050,000, Previous Price: $864,167, July 2014, restaurants or cafeterias, 3439 Cleveland Ave., Fort Myers, 2015000170899. MANATEE COUNTY Palm Place Apartments Limited sold in a quit claim deed to CF Florida Owner LLC, $7,481,640, Previous Price: $300,000, May 1983, multifamily, 7540 Alicia Lane, Sarasota and additional addresses, 02581-3977. Wayside Glen Mobile Home Park Inc. sold to Wayside MHP LLC (1/2 interest) and McWayside MHP LLC (1/2), $3,625,000, Mortgage: $2,725,000, Bay Cities Bank, Previous Price: $2,500,000, April 2005, mobile home park, 5120 W. 14th St., various lots, Bradenton, 02580-7818. RW Partners FL LLC sold to Bradenton Taco Pooh LLC, $1,368,421, Previous Price: $581,300, August 2003, fast food or drive-in restaurant, 3710 W. Cortez Road, Bradenton, 02580-5312.

Hutton Growth One LLC sold to MBG Assets LLC, $1,841,638, Previous Price: $375,000, February 2014, vacant commercial, 1.48 acres, 695 Walnut St., Poinciana, 9594-485. Redus FL Properties sold to LWG Florida Properties, $1,675,000, Mortgage: $1,000,000, Eric Steinmann, in SEC 13 and 24-29S-26E, 9593-249. 5J International Inc. sold to Centre Florida Land Holding LLC, $1,500,000, in SEC 8-28S-25E, 95922125. Applied Building Development Co. - Oakhills Inc. sold to Park Square Enterprises LLC, $1,265,178, lots 15-26 and 31-38, Crofton Springs at Providence, 9596-2058.

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SARASOTA COUNTY 300 Pineapple LLC sold to Sansara Development Corp., $3,000,000, Mortgage: $14,500,000, Branch Banking and Trust Co., Previous Price: $779,700, December 2014, vacant commercial land, 300 Pineapple Ave., Sarasota, 2015096279. Ranola LLC sold to RGBLVD LLC, $2,000,000, Mortgage: $1,600,000, Ranola LLC, Previous Price: $350,000, August 1995, hotel or motel, 118 Indian Place, Sarasota, 2015098224. City of Sarasota, Florida sold to The Shoppes at State Street LLC, $1,768,300, state street garage, 1518 State St., Sarasota, 2015096392. BJSC LLC sold to IJKB LLC, $1,200,000, Previous Price: $850,000, January 2005, warehouse, 2446 19th St., Sarasota, 2015098762.

Here is where we lend the way.

PASCO COUNTY None

Beach & Associates LLC sold to Shiva & Nanbai Associates LLC, $2,163,000, Mortgage: $1,827,500, Pacific Premier Bank, Previous Price: $695,000, September 2013, hotels and motels with 49 or less units, 657 Mandalay Ave., Clearwater, 18873-0837. Advanced Medical Disposal Inc. sold to Stericycle Inc., $1,200,000, Previous Price: $1,000,000, April 2008, general warehouse, 6121 Mears Court, Largo, 18872-0040. POLK COUNTY Five Star Family Growers-Farm 4 LLC, Five Star Family Growers-Farm 5 LLC, Five Star Family Growers-Farm 6 LLC sold to Saddle Creek Corp., $4,311,500, Previous Prices: $682,800, $400,800 and $211,800, January 2011, cropland, 25.76 acres, 890 Moss Road W. and 23.42 acres, cropland, a portion of Floral Road and 4.61 acres, a portion of Moss Road, Auburndale, 9593-1916. Interlachen Groves Inc. sold to Lake Region Mobile Home Owners Inc., $2,070,247.10, Mortgages: $3,500,000 and $1,500,000, Citizens Bank and Trust, Previous Prices: $100, January 1968 and $100, January 1964, citrus with residential, 76.56 acres, 4362 U.S. Highway 27 S. and 10.55 acres, additional land on U.S. Highway 27, Haines City, 9590-1177.

Owner Occupied Commercial Real Estate Loans

% 3.95 IntEREst RatE

Fixed Rate | 10-Year Maturity

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synovusbankfl.com Banking products are provided by Synovus Bank, Member FDIC. Divisions of Synovus Bank operate under multiple trade names across the Southeast. A fixed Interest Rate of 3.50% is available for a 5-year maturity, and a fixed Interest Rate of 3.75% is available for 7-year maturity. Rate is subject to change without notice. All loans are subject to credit approval and a commercial deposit relationship. Minimum loan amount is $500,000 with maximum financing of $5 million for new loan relationships for Owner Occupied Commercial Real Estate. Requires lien position on owner occupied commercial real estate, limited to first lien position only. Refinance Premium required – 3% first year, 2% second year, 1% third year and 0% after three years. Fees and/or prepayment penalties may apply. Other rates and terms are available. Offer cannot be combined with other discounted loan programs. Churches and Non-Profit entities are not eligible.

179274

PINELLAS COUNTY Micon Packaging Inc. sold to Stronghaven Inc., $4,195,000, heavy industrial or heavy equipment manufacturer, 301 Commerce Blvd., Oldsmar, 18872-1803.

20 corporatereport |

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BusinessObserverFL.com

WCI Communities hires Kolter V.P. as regional sales director Bonita Springs-based WCI Communities has named Louis Paratore its regional director of sales. Paratore was a vice president of community operations PARATORE for WCI from 2000 to 2013. Most recently, he served as vice president for Kolter. He also previously served as area sales manager for PulteGroup and vice president for Mercedes Homes. Paratore will oversee sales operations for several of WCI’s Naples communities, including Artesia Naples, Raffia Preserve, LaMorada Naples and Carrara at Talis Park. Paratore also will be responsible for sales at The Colony Golf & Bay Club in Bonita Springs, which includes Altaira, WCI’s new 21-story condominium tower with 76 units.

PDR Certified Public Accountants names Zuñiga principal M. Javier Zuñiga has been promoted to principal at PDR Certified Public Accountants, which has offices in Clearwater and Tampa. Zuñiga’s work focuses on corporate and partnership tax compliance, partnership structures, international and individual taxation and forensic accounting. He is also part of PDR CPAs’ research and development tax credit and cost segregation studies practice areas. In this new position, he will oversee business development for the firm.

BY SEAN ROTH | RESEARCH EDITOR

ANM Maritime Solutions Group hires new maritime director

2015” in a special cancer issue. Castle Connolly received nearly 100,000 peer nominations, from which 2,600 cancer specialists were selected for the list.

The St. Petersburg marine insurance agency ANM Maritime Solutions Group P.A./McGlone Marine Insurance has hired Stephanie Rogers as its vice president and director of maritime operations. Rogers has 30 years’ combined insurance underwriting expertise. Most recently she was senior underwriter for Ace USA - Marine Facilities Group in Tampa for 10 years. Before that she was senior underwriting specialist and product line manager for Crum & Forster Insurance Co. in Lake Mary and marketing account manager for Harden & Associates in Jacksonville. ANM Maritime Solutions Group PA/ McGlone Marine Insurance specializes in recreational and commercial marine insurance, claims advocacy, risk management, safety training consulting and expert witness services in the maritime industry.

InformedDNA executive named to Newsweek’s list of top cancer doctors

SUTPHEN

Dr. Rebecca Sutphen, president and chief medical officer of St. Petersburg-based InformedDNA, has been ranked as one of the top 10 cancer medical geneticists in the United States in Newsweek’s “Top Cancer Doctors 2015”

Hayward Baker expanding in Tampa, South Florida Geotechnical construction firm Hayward Baker Inc. has expanded its business in Florida with the relocation and expansion of its Tampa office. The company is moving from its current Benjamin Road location to a 17,000-square-foot facility nearly double its size. The new Tampa office is located at 5461 W. Waters Ave., Suite 900. “After 30 years and multiple remodels at our Benjamin Road location, we simply outgrew it,” Hayward Baker’s Tampa-based vice president Curtis Cook says in a press release. “Moving our Tampa team to a larger facility nearby gives us the space needed to better serve our clients. Our Tampa heavy equipment shop and equipment yard remain at the original location.” The company has also opened a new South Florida office in Hollywood. The Tampa and Hollywood offices will support customers and projects in Florida, several other southern states, the Caribbean and Central America. Cook will oversee the operations of both offices.

list. Newsweek, in conjunction with Castle Connolly Medical Ltd., published the list of the “Top Cancer Doctors

Summit Broadband hires Cable One exec to head network

STENDER

Bonita Springs-based Summit Broadband Inc., a provider of phone, Internet and cable TV services, has hired Jerry Stender to oversee the company’s network operations and expansion in South-

west Florida. In his new position, Stender will be responsible for the reliability and performance of Summit Broadband’s network. Stender has 30 years of experience in technical and leadership roles in the cable industry and most recently led technical operations at Cable One in Northeast Mississippi. He will operate from Summit Broadband’s Bonita Springs headquarters.

New Path Academy takes over four school locations Starting on or before Sept. 14, the Community Coalition for Children and Youth Inc. will take over the leases and operations of four school campuses previously run by Children’s Academy of Southwest Florida. Two of the schools are located in Bradenton along with one each in East Sarasota and Palmetto. The schools, now called New Path Academy, will offer nursery school services, a voluntary pre-K, preschool and a private school for children from kindergarten through 12th grade. The schools are focused on teaching struggling and at-risk students. Jennifer Radebach, who previously founded the Radebach School, is CEO for New Path Academy. She is a former special education teacher for the School District of Manatee County.

calendar

of AUGUST 27 DOWNTOWN DEVELOPMENT: The Greater Sarasota Chamber of Commerce will host a panel discussion about downtown development. Speakers include architect Gary Hoyt, Jebco Ventures CEO Jim Bridges and commercial broker Lee DeLieto Jr. The breakfast meeting will start at 7:45 a.m. at the Sarasota Yacht Club, 1100 John Ringling Blvd., Sarasota. Cost is $25 for members. Register at www.sarasotachamber.com/events.

AUGUST 28 MANATEE DEVELOPMENT: The Bradenton Area Economic Development Corp. will unveil a multiyear economic development strategy for Manatee County from 11 a.m. to 1 p.m. at the Manatee Performing Arts Center, 502 Third Ave. W., Bradenton. Cost is $35 for members and $45 for others. For more information visit ThinkBradentonArea.com or call 941803-9036. ECONOMIC FORECAST: Mark Vitner, senior economist with Wells Fargo, will address the Horizon Council’s general membership meeting. The meeting begins at 8:30 a.m. at Harborside Event Center, 1375

Monroe St., Fort Myers. RSVP by Aug. 25 to bkelly2@leegov.com. For more information, visit www.leecountybusiness.com.

AUGUST 31– SEPTEMBER 2 TOURISM CONFAB: Jeff Vinik, owner of the Tampa Bay Lightning and Tampa Bay Storm, and Salim Ismail, executive director of Singularity University, will be keynote speakers for the Florida Governor’s Conference on Tourism. The event will be held at the Tampa Convention Center, 333 S. Franklin St., Tampa. Cost is $399 for Visit Florida members and $499 for others. For more information visit floridatourismconference.com.

SEPTEMBER 1 PORT CHIEF: Carlos Buqueras, executive director and CEO of Port Manatee, will speak at a Bradenton Kiwanis meeting. The event will run from 12:15 p.m. to 1 p.m. at the Kiwanis Hall at the Manatee Players, 502 Third Ave. W., Second Floor, Bradenton. For more information visit bradentonkiwanis.org.

events

SCIENCE AND ENVIRONMENT: Ed Chiles, CEO of the Chiles Group, Michael Crosby, president and CEO of Mote Marine Lab, and John McCarthy, executive director of Scope, will discuss the economics of science and the environment. The Argus Foundation lunch meeting will begin at 11:30 a.m. at Marie Selby Botanical Gardens, 900 S. Palm Ave., Sarasota. Cost is $35 for members and $40 for others. Register at argusfoundation. org/events.

SEPTEMBER 9 ANNUAL MEETING: The Central Pinellas Chamber of Commerce will host its 63rd annual meeting from 7:30 a.m. to 9:30 a.m. at the Sheraton Sand Key Resort, 1160 Gulf Blvd., Clearwater. For more information visit centralchamber.biz. BUSINESS IMPROVEMENT: Carla Fugit, president of Platinum Business Strategies, will discuss ways business owners and managers can improve performance, productivity and profitability at a Gulf Coast CEO Forum meeting. The event will run from 7:30 a.m. to 9 a.m. at The Francis, 1289 N. Palm Ave., Sarasota. For more information visit gulfcoastceoforum.com.

SEPTEMBER 11 ANNUAL MEETING: The Economic Development Corp. of Sarasota County will hold its annual meeting from 11:30 a.m. to 1:30 p.m. in the Hyatt Regency Sarasota, at 1000 Boulevard of the Arts, Sarasota. For more information visit edcsarasotacounty. com.

SEPTEMBER 18 INDUSTRY AWARDS: The Lee County Economic Development Office and the Horizon Council will present awards to companies at an industry appreciation ceremony. The luncheon begins at 11:45 a.m. at Harborside Event Center, 1375 Monroe Street, Fort Myers. Cost is $50. Register at www.horizoneventsite.com.

OCTOBER 2 REAL ESTATE SYMPOSIUM: Randy Anderson, president of Griffin Capital Asset Management, and Jerry Parrish, chief economist at the Florida Chamber Foundation, will headline a Real Estate Investment Society symposium. The event will take place from 7:30 a.m. to noon at Cohen Center Ballroom at Florida Gulf Coast University in Fort Myers. Cost is $25 for members and $45 for others. Register by Sept. 30 at www.reis-swfl.org.

AUGUST 21 â&#x20AC;&#x201C; AUGUST 27, 2015 | BUSINESS OBSERVER

out of the office | NETWORKING |

BusinessObserverFL.com

BY JIM JETT | CONTRIBUTOR

More than 125 people attended the inaugural meeting of the International Council of Shopping Centers Southwest Florida chapter at the Hyatt Regency Coconut Point Resort and Spa in Bonita Springs on Aug. 6.

CRAIG KOPKO, vice president at North American Properties, and JOSHLYN STEELE, leasing representative at Kite Reality Group.

DALE SCOTT, director at Hawkins Construction, and SHANE FARNSWORTH, manager of business development at the Lee County Economic Development Office.

BRUCE REGISTER, director of Collier County Business and Economic Development Department, BEV LARSON, with Lahaina Realty, and MARSHAL GOODMAN, director of the Catalyst Accelerator Network in Collier County.

NICOLE PANIO, marketing director at LandQwest Commercial, and MARY GENTILE, senior property manager at LandQwest Commercial.

RAYMOND CARROLL, president of Carroll & Carroll Real Estate Appraisers & Consultants, and RANDY HENDERSON JR., mayor of Fort Myers.

Do you know where your bank ranks?

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Banking and Finance Learn the top trends affecting Gulf Coast financial institutions in their quarterly results. Read it: September 11, 2015| Advertising Reservation Deadline: September 3, 2015

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For advertising information and opportunities, contact Donna Condon at 941.366.3468 or dcondon@yourobserver.com.

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22 out of the office | CEO EMERITUS | BusinessObserverFL.com

Hard work, combined with selfconfidence, helped Isaac Barpal get from a kibbutz in Israel to the top of Corporate America.

saac Barpal didn’t want anything to hold him back when he left Israel in 1964 for a shot at the American Dream. He was coming to the States on a cargo ship full of grain, a two-week, so-called “work-away” trip from Haifa, Israel, to Galveston, Texas. Then it was off to San Luis Obispo, Calif., to attend California State Polytechnic University. Barpal recalls he had $742 in his pocket and a duffel bag of possessions. But an uncle in Israel gave him a return ticket on the same ship — good for any date, in case Barpal wanted to go back. Barpa l burned the ticket when he got to Texas. “That was a lifeline,” says Barpal. “And the minute you have a way to get out of something, the smallest thing will let you do it.” With his options for quitting up in flames, Barpal embarked on his new life. In academics, he ultimately earned a Ph.D. in electrical engineering. In business, he worked at Westinghouse Electric Corp. for 22 years, rising to head of science and technology. He also oversaw construction of people movers at airports worldwide for the company. After Westinghouse he joined aerospace and engineering giant AlliedSignal, now Honeywell. Barpal ran engineering and technolog y there, with a budget of $1.1 billion and 11,000 employees. He retired in 1998, when his final post was chief technology officer. Barpal, 75, recently sat down with the Business Observer to talk about his career.

BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

BY MARK GORDON | MANAGING EDITOR

Electric

LIFE

MARK WEMPLE

n Rough start: Barpal was born in Argentina, and his dad died when he was six. When Barpal was 13 he moved to Israel to live with an uncle. In Israel he lived in a kibbutz, a collective farming community, where his main job was to pull radishes. Money and material possessions were scarce. “It wasn’t very much,” he says. “I learned the value of a penny. I learned the value of hard work and being thrifty.” n Math man: In Israel, Barpal discovered he loved to work in a metal shop and with electronics. He also had an affinity for numbers and complex problems, so much so that when he took the SAT exam to get into college in the Unites Sates he scored a perfect 800. “I probably got 200 in English,” he quips. n More money: Before Barpal left for America, he went joined the Israeli Air Force, where he served three years. After he earned his Ph.D., in 1970, Barpal took a job at Westinghouse in Pittsburgh. The company offered him $1,600 a month, but Barpal held out for $1,667 a month, so he could earn $20,000 a year. That was a big sum back then, he says.

Isaac Barpal held several senior-level executive positions with AlliedSignal and Westinghouse during his career.

n Hire smart: Barpal says his rise to senior executive positions stems from finding people he thought could do his job better than him. “Choose the best people money can buy and let them do their jobs,” he says. “Because if they can take your job, that means you can be promoted.” n Relationship builder: The best way to deal with customers on big-dollar complicated projects, Barpal learned, is to get to know the client personally. “You have to develop trust,” says Barpal. “A customer will pay almost anything if they trust you.” n Fess up: Another key lesson Barpal learned in his career is to quickly let people know when there’s a mistake. “You’re not always right, but if you admit it people will respect you,” he says.

n Reflective approach: Early in his career Barpal developed a habit of spending five minutes every night thinking about what he learned during the day. He still does that, and he says it helps him relax and build confidence. “You have to look at yourself in the mirror and know that’s the best person in the world,” Barpal says. “If you don’t believe in that, your clients never will.” n Giving back: Barpal moved to the Sarasota area in 2004 and now lives in Palmer Ranch, in south Sarasota County. His favorite hobby is riding motorcycles. He and his wife, Margaret, have given money to several charities, including Palmettobased Southeastern Guide Dogs. A portion of their gifts went to the Margaret and Isaac Barpal Veterinary Center, a $1.75 million complex that opened in 2013. “It’s not about the dogs,” he says. “The object is to help people. My satisfaction comes from local charities because I see the results of our work.”

You have to look at yourself in the mirror and know that’s the best person in the world. If you don’t believe in that, your clients never will. Isaac Barpal | retired AlliedSingal and Westinghouse executive, Sarasota. n Estate planning: Barpal has three adult children and he took the same approach to each on raising kids in an affluent environment. He told them he would pay for their education, nothing else. His mantra: “Don’t live a life thinking daddy will die and you will get a lot of money.”

AUGUST 21 – AUGUST 27, 2015 | BUSINESS OBSERVER

4 0U N DER4 0 | where are they now?

On his Own

BY MARK GORDON | MANAGING EDITOR

In less than four years, Dean Crowley went from uncertain business owner to running a company that’s closing in on $4.5 million in sales.

BLAST FROM THE PAST Here are some of Dean Crowley’s responses to the questionnaire when he was a 40 under 40 recipient in 2006.

he story of how and why Dean Crowley launched his own construction company while the economy was in the dumps isn’t necessarily one of a yearning for entrepreneurial freedom. That might be true today, but in 2011 Crowley didn’t feel that way. “I never really had the entrepreneurial dream,” says Crowley. “The goal wasn’t to start a company.” Instead, Crowley figured he would end his career where it started in 1992, at W.G. Mills, once one of the largest independent construction firms in the state. But national construction giant Gilbane bought Mills in 2010. A Business Observer 40 under 40 winner in 2006, Crowley was a senior executive at Mills, but not a senior-level owner who made out with a big payday in the sale. And while Crowley says the people at Gilbane were fine, his career trajectory was suddenly thrown out of order. At Mills, which had $275 million in revenues in 2009, Crowley ran project teams and business development missions statewide. Since Sarasota was the headquarters, he was in the epicenter of the company and had what he called a “unique situation.” But at Providence, R.I.-based Gilbane, Crowley would be just another vice president at a firm outpost. Highly visible in the area business networking scene and the fifth generation of his family from Sarasota, Crowley soon lost something else at work: his smile. Says Crowley: “At Gilbane I didn’t have the reasons I got up and enjoyed going to work like I had at Mills.”

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n Formula for success: Plan ahead, know your project, treat people with respect. n What’s on your Ipod? No iPod. n Best place outside Florida you’ve ever been to: Grand Canyon. n What would you like to be doing more of? Time with family.

LORI SAX

Dean Crowley founded Crowley Services in 2011. So after a year at Gilbane, Crowley launched Crowley Services Inc. The name was ambiguous on purpose because Crowley wasn’t sure what the focus would be, consulting for builders or actual construction. Now he does both. Crowley Services has grown quickly. It had $450,000 in revenues in year one, and doubled that to $900,000 in year two. In 2014, the company had $1.6 million in sales, and Crowley projects revenues will reach at least $4.5 million in 2015. There are six employees. Crowley Services, like many construction startups, handles a wide variety of

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work, from preconstruction services to design-build to construction logistics. Projects range from renovations at units in Plymouth Harbor, an assisted-living community in Sarasota, to a park and fountain in North Port. The company has done work in DeSoto, Manatee and Sarasota counties. Clients include municipalities and private developers. Crowley, now with some years and success, says he loves the freedom being an entrepreneur provides. Not only because he’s his own boss, but now he does things he never did before, such as create a logo and build a website.

n What would you like to be doing less of? Returning email and voicemail. To see more on the Business Observer’s 40 under 40, scan this QR code or visit businessobserver4040.com. The biggest lesson Crowley has learned in going his own way is to remain flexible with where the revenues will come from. At Plymouth Harbor, for example, the work began in consulting and morphed into actual hammers and nails. “The opportunities,” he says, “might not be what you originally thought.”

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BUSINESS OBSERVER | AUGUST 21 – AUGUST 27, 2015

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APPly NOW! Win the recognition your company deserves, raise visibility of your company in Southwest Florida and network with other successful business people. Independent judges will select a Blue Chip Community Business Award winner from Lee, Collier or Charlotte County to be announced during a luncheon on November 5, 2015 at Harborside Event Center in Fort Myers. KEYNoTE SpEAKEr

DAVE ClARk Dave is a native of Corning, New York, who now lives in Cape Coral, Florida, with his wife, Camilla, their daughter, Elica, and son Trey. As an infant, Dave contracted polio. It stunted his growth and left him without the full use of his legs. But despite that, perhaps because of it, he was driven to excel in physical competition against so-called able-bodied people. The Dave Clark story is likely the greatest “mostly unknown” professional sports account of our time, and teaches unforgettable life lessons that give hope to anyone facing a challenge whether large or small.

PREVIOUS WINNERS 2014

Lee County Plumbing Supply Company

2013

East West Veterinary Care Center

2012

ServiceMaster-CCS

2011

Parson Masonry, Inc.

2010

JRL Ventures/Marine Concepts

2009

Old Monty’s Restaurant and Pizzeria

2008

The Indigo Room

2007

Collier County / Media Vista Corporation Lee County / LeeSar Healthtrust Partners

2006

Collier County / Mikkelsen’s Pastry Shop Lee County / Fox Electronics

2005

Collier County / Island Café Lee County / Congress Jewelers

2004

Collier County / Arturo’s Ristorante Italiano Lee County / Invest SW Title Services

2003

Collier County / Clean Air & Allied Supply Lee County / Priority Marketing

THE BlUE CHIP AWARD IS OPEN TO ANy FOR-PROFIT COMPANy THAT - Has been in continuous operation under the same ownership for at least 3 years with principal office in Lee, Collier or Charlotte Counties; - Employs 5 to 400 people; and - Has overcome adversity to achieve success. THERE IS NO ENTRy FEE Applications due September 7, 2015. Call Stacey Mercado at 239.433.7189 for an application.