Effective planning and investing begins with answers to these five simple questions:
1 What do you want to accomplish in your life?
2. Who are the people that matter most to you?
3. What do you want your legacy to be?
4. What are your main concer ns?
5. How do you plan to achieve your life’s vision?
The information that comes out of this process can be invaluable for managing assets presale, structuring the sale in an optimal manner and then developing a strategy for the proceeds after the liquidity event.
W ill proceeds be suitable to fund future spending goals? If so, the business could be sold earlier than expected If not, postponing to increase business value may be preferred.
minimum practical sell price typically generates assets needed to pay for future lifetime spending. If the expected transaction value falls short of that number, options can include:
1 Explore an alter native transition type that could bring a higher valuation
2 Postpone the sale and implement a plan to enhance the value of the business
3 Reduce targeted future spending to bring it in line with post-liquidity event resources
Following the sale, the family mindset may need to shift from business owner to asset manager, selecting a prudent, sustainable asset allocation plan and making responsible timing decisions
Many wealthy families don’t need to invest their assets
On the other hand, many wealthy families could also invest the entirety of their assets in public equities and, even with a drawdown of 50%, still be okay Typically an optimal portfolio lies somewhere in between all cash and all equity
and their families to help nd that balance that ts their goals by using the Liquidity. Longevity. Legacy
Three main functions:
1. Match cash flow to expenses
2. Funding source during periods of market distress
3. Helps avoid forced or panic selling during bear markets
Essential factors include:
The volatility of an investor’s combined Liquidity and Longevity portfolio can directly impact the volatility of their future spending
Portfolio drawdowns, in particular, present a meaningful risk Risk tolerance
The legacy strategy represents a family’s surplus. Once the Liquidity and Longevity strategies are fully funded, excess assets are segregated into the Legacy strategy. This segment is both behavioral and investment related, but is also to support the family’s estate planning and multigenerational objectives.
*Time-frames may vary Strategies are subject to individual client goals, objectives and suitability This approach is not a promise or guarantee that wealth, or any financial results, can or will be achieved.
As you plan and put strategies in place for a more immediate sale, you’ll want to monetize all the hard work you’ve put into your business. The nationally recognized UBS Private Wealth Management team, Matina Group can partner with you to assist with key questions and considerations including:
As you plan and put strategies in place for a more immediate sale, you’ll want to monetize all the hard work you’ve put into your business. The nationally recognized UBS Private Wealth Management team, Matina Group can partner with you to assist with key questions and considerations including:
– What are your transition options?
– What are your transition options?
– How will you get the optimal valuation?
– How will you get the optimal valuation?
Proudly advising Naples clients since Matina Group
Proudly advising Naples clients since Matina Group
Get the answers and clarity you need to move your business goals forward Connect with Matina Group today
– What’s your strategy for securing your legacy? Get the answers and clarity you need to move your business goals forward Connect with Matina Group today
– What’s your strategy for securing your legacy?
UBS Financial Services Inc. Private Wealth Management 801 Laurel Oak Drive, Suite 500 Naples, FL 34108
UBS Financial Services Inc. Private Wealth Management 801 Laurel Oak Drive, Suite 500 Naples, FL 34108
Lear n more at advisors.ubs.com/matinagroup
Lear n more at advisors.ubs.com/matinagroup
Joseph Matina Managing Director–Wealth Management 877-452-4344 toll free joseph.matina@ubs.com
Joseph Matina
Managing Director–Wealth Management 877-452-4344 toll free joseph.matina@ubs.com
As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements It is important that you understand the ways in which we conduct business, and that you carefully read the agreements and disclosures that we provide to you about the products or services we offer. For more information, please review client relationship summary provided at ubs.com/relationshipsummary, or ask your UBS Financial Advisor for a copy
As a firm providing wealth management services to clients, UBS Financial Services Inc. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements It is important that you understand the ways in which we conduct business, and that you carefully read the agreements and disclosures that we provide to you about the products or services we offer. For more information, please review client relationship summary provided at ubs.com/relationshipsummary, or ask your UBS Financial Advisor for a copy
Private Wealth Management is a division within UBS Financial Services Inc. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA Member SIPC. © UBS 2022. The key symbol and UBS are among the registered and unregistered trademarks of UBS UBS Financial Advisors are Registered Representatives of UBS Financial Services Inc. ©UBS 2022 All rights reserved UBS Financial Services Inc. is a subsidiary of UBS AG Member FINRA/SIPC
Private Wealth Management is a division within UBS Financial Services Inc. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA Member SIPC © UBS 2022. The key symbol and UBS are among the registered and unregistered trademarks of UBS UBS Financial Advisors are Registered Representatives of UBS Financial Services Inc.
NEWS BITES P. 12
ICYMI! Top stories from Gulfshore Business Daily
TRENDLINE P. 16
COVID-19 drives desire for furry companionship
SPACES P. 18
Inside the expertly designed Heritage Bay Government Services Center
MAKERS P. 22 En Root cultivates the love of plants
ENTREPRENEURSHIP P. 26
Janelle Francis of Francis Farm turned a hobby into a microgreens empire
ECONOMIC COMMENTARY P. 30
Celebrating the return of the usual
HORSEPOWER
TOURISM P. 80
Getting Collier’s hotels and beaches back in sparkling shape
STATE GOVERNMENT P. 82
Legislature passes reforms to secure SWFL’s property insurance situation
COMMERCIAL REAL ESTATE P. 84 Top sales in Charlotte, Collier and Lee counties
NEW & EXPANDING P. 86 Top leases in Charlotte, Collier and Lee counties
NEW & NOTEWORTHY P. 94
WEEKEND GETAWAY P. 96
The 12th-century magic of the Church of St. Bernard de Clairvaux
GUEST LIST P. 100
Recognizing Gulfshore Business ’ annual class of 40 Under 40
BACKSTORY P. 104 The history of an unlikely local friendship
EDITOR IN CHIEF
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Contact Us
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I was born in central Michigan, where it’s probably below freezing as you’re reading this. I’ve lived in Bedminster, New Jersey (where it’s in the high 30s with any luck), and Bethlehem, Connecticut (about the same, probably), and before relocating here I was in Oklahoma City, Oklahoma (maybe a comparatively balmy 50). Believe me when I say that this time of year especially, I get why people want to move to Southwest Florida.
And they do. Compared to 10 years ago, more than 60,000 additional people call Collier County home today, according to Census estimates. The area obviously feels more crowded here at the height of Season, but it’s more than just snowbirds; we have an ever-growing number of new neighbors.
Which is why, as we perform our annual look back at the top transactions in real estate, the story of 2022 is growth, growth and more growth. As David Dorsey details on page 34, the pace of multimillion-dollar deals slowed slightly from its 2021 blitz, but numbers continue to rise as records were broken and broken again on purchase prices, especially for apartments. The region’s tremendous demand for housing means numerous developers are betting big on the apartment sector, from existing properties to land that can house future complexes. One 64-acre patch east of Intersate 75 and north of State Road 82 just sold for $30 million, which is more than 12 times what the former owners paid for it 19 years ago—a staggering num-
2023ber. That particular piece of land? It’s going to be developed into apartments.
The story is the same on just about every axis: industrial, luxury retail, residential properties … even in the wake of Hurricane Ian, the Gulfshore market is thriving. As one developer put it, “The growth story of the Southwest Florida market, it’s one of the top 10 growth areas in the nation.”
There’s also cause for cautious optimism on the homeowner front, as the Florida Legislature has passed a package of reforms aimed at strengthening and stabilizing the perilously unsteady property insurance marketplace— John Guerra breaks down the details on page 82.
Unfortunately for many area businesses, having more residents doesn’t necessarily mean access to more potential employees with the right set of skills. Finding qualified staff is hard, and retention is critical. Justin Paprocki spoke with local employers and experts; see page 48 for their advice on adapting to the changes wrought by the last few years and staying competitive in 2023.
As the year gets underway in earnest, I hope yours is off to a great start. The good news is that we have a particular advantage: We’re already here in Southwest Florida, and the sky’s the limit.
HEIDI RAMBO CENTRELLA EDITOR IN CHIEFNinety percent of all businesses in America are family owned, yet only one-third survive to the second generation.
To improve those odds, a group of Southwest Florida business leaders will conduct the second annual Resnick-Wynn Family Business Conference, in partnership with Florida Gulf Coast University, on March 3. This year’s conference welcomes HASBRO’s Alan Hassenfeld as the keynote speaker. Attendees will have the rare opportunity to hear the firsthand story of HASBRO’s journey from early struggles to becoming a multi-billion-dollar worldwide toy manufacturer and entertainment company.
“There is not one magic formula for a family business, as no family business is the same,” said Hassenfeld, former Chairman and CEO of HASBRO. “This Family Business Conference gives us the chance to share with one another our trials and tribulations, our successes and our mistakes.”
Conference founders Billie Resnick, Michael Wynn and John Resnick were credited with bringing media mogul Steve Forbes to headline last year’s sold-out crowd of 250. This year, tickets are expected to go fast.
“Family businesses become more complex once they move past the founder’s generation,” said John Resnick, Principal of The Resnick Group. “Our conference offers a private forum for family firms to meet, collaborate and share innovative strategies to sustain their success.”
“Running a family-owned business presents a unique set of demands and responsibilities. Balancing family politics in a rapidly changing business environment requires a combination of emotional intelligence and innovative entrepreneurialism,” said Sunshine Ace Hardware President Michael Wynn, a fourth-generation leader. “We want to provide the knowledge to help strengthen the number of family businesses who can successfully prepare their organization to transition from one generation to the next.”
“Succession is not an event; it is a process. When executed properly, it elevates the older generation while recognizing talents of the younger generations, leaving the business stronger and in a better position for growth,” said Billie Resnick, Principal of The Resnick Group.
The Resnick-Wynn Conference is open to multigenerational family business owners. In addition to Hassenfeld, the conference will feature Blake Gable, Chief Executive Officer of Barron Collier Companies, and case studies that focus on:
· Preparing the next generation of leaders for a successful transition
· How to successfully use outside directors and advisory boards for governance and growth
Tickets are available at FGCU.edu/FamilyBusinessConference.
THE JOY OF BLOOMING En Root cultivates the love of plantsBy Justin Paprocki Kelly Jones
The Sanibel Toy Box, a luxury storage facility for boats, cars and whatever people can’t fit in a home garage, will break ground in south Fort Myers in early 2023. Chris Beane grew up on Sanibel Island and began envisioning the Sanibel Toy Box in 2018. In October 2019, Beane’s company, TYBX4 LLC, purchased the property for $1.1 million.
Beane’s development team, which includes GMA Architects, Stevens Construction as the builder and LSI Companies as the broker, received approval from the South Florida Water Management District to build. The 55,000-square-foot facility is expected to open in early 2024 and will be on almost 5 acres at 16998 McGregor Blvd.
Its 44 storage units will range from 1,100 to 1,500 square feet and have 14-by-14-foot doors. The concrete block walls will resist winds of up to 170 mph, and the facility will be built 12 feet above ground level, safely above where Hurricane Ian flooded the area.
The price will be about $400 per square foot, with the smaller units selling for about $440,000.
A pair of devastating hurricanes have bookended The Great White Grill’s past and present. Owner John Nader opened Sanibel Island’s only authentic pizzeria/sports bar about four months after Hurricane Charley in 2004. On Sept. 27, the eve of Hurricane Ian, Nader announced his Pittsburgh sports-themed bar would be closed for a couple of days. More than two months later, it was still closed because of the Category 4 storm damage.
As of December, Nader’s renovations were near completion and he was targeted to reopen in January on at least a takeout-only basis.
He rebuilt the walk-in fridge, which chills the 30-plus beers on tap at 37 degrees. The bar normally has up to five employees, and he plans to bring some of them back as soon as he can open to dine-in customers. Nader, a working owner, says he did 75% of the cooking himself.
The Great White Grill fared well compared to most Sanibel businesses in that it only had a few inches, instead of a few feet, of storm surge flooding inside the bar at 2440 Palm Ridge Road.
FYZICAL Therapy & Balance Centers unveiled its Audiology Center as part of its one-year anniversary celebration of its clinic in North Fort Myers. The Audiology Center features an experienced team capable of identifying, diagnosing and treating all types of hearing disorders, including hearing loss caused by exposure to loud noises, illness and injury.
Audiology joins a growing list of services available at FYZICAL North Fort Myers, including orthopedic rehabilitation, balance therapy, fitness and wellness and neurological rehabilitation.
FYZICAL North Fort Myers is at 16251 N. Cleveland Ave., Suite 3.
After losing his job in 2020, Tom Anstead decided to start his own distilling business in downtown Bonita Springs. Devil’s Isle Distillery is named after a trip Anstead took to Bermuda, which was originally known as the “Isle of Devils” by Spanish explorers for its treacherous weather.
The distillery opened in July off Old 41 Road. Anstead was inspired for the business after working with a friend in Pennsylvania who owns a distillery. “It seemed like a fun way to spend my time. Distilling seemed fun. People are happy when they’re talking about it, coming and enjoying it,” Anstead says.
Up until 2021, Florida distilleries were only allowed to sell their product and merchandise at their gift shops. Now, the law changed so that customers can enjoy mixed drinks from what’s produced at the distillery. Visitors of Devil’s Isle are able to sit either at a bar or in the lounge with couches surrounded by a glass wall to view all the equipment creating the alcohol.
Distilleries are hard to find in Southwest Florida, with none being in the Naples area and a few in northern Lee County. Anstead said he made a good choice when picking Bonita Springs for his business, and thinks it will continue to thrive in the future as he aims to start distilling gin and rum products.
The Naples Pier, a 1,000-foot-long boardwalk that has been a landmark of Collier County for more than a century, sustained significant damages when Hurricane Ian struck Southwest Florida in September. Now, city staff is working to make the pier a favorite gathering place for residents and visitors again.
[ COLLIER COUNTY]
Naples Zoo awarded Naples-based Waltbillig & Hood its capital improvement project to increase the zoo’s capacity to meet its education and conservation mission at the 100-year-old park. The $14 million Finding Florida New Entrance and Visitor Complex expansion plans include a new entrance to the zoo, a volunteer center and a complete upgrade of Alligator Bay.
The 4-acre complex was inspired by the old Florida lifestyle and designed by GLMV Architecture, a national zoo and aquarium architecture firm. The centerpiece of the design is the Hamill Family Education Center, poised to be the environmental education hub in Southwest Florida. The Finding Florida New Entrance and Visitor Complex will also feature new exhibits with native species in the Ann and Senator Rick Scott flamingo and roseate spoonbill exhibit.
Additional components of the zoo’s capital campaign expansion project include new animal exhibits in the South American Trail experience and immersive grassland and rainforest exhibits.
The projects have been started and will take approximately two years to complete, with the South American Trail Experience expected to be completed in early 2023.
The city hired engineering consultants Turrell, Hall & Associates to estimate damages and provide input on how to move forward. The property faces a major $6 million to $8 million facelift, as 30% of the pier is no longer visible.
KP Pezeshkan, vice president of Geis Companies, presented a complete redesign concept to Naples City Council in December featuring increased seating, including benches that face the water, 12-foot-wide bump-outs and lower fishing decks.
The U.S. Army Corps of Engineers approved the construction permit, but any improvements to the pier, such as the ones presented, would have to go back to the Army Corps for a permit modification, which will lengthen the rebuilding process. Despite this, Council is in favor of pursuing a redesign of the entire pier.
Take Back Marco, a political action committee, created a short-term rental registration ordinance that was passed by Marco City Council. The referendum passed at the polls in August with 57% in favor, and council approved the ordinance on its first and second readings.
The ordinance was created to enforce regulations for those who rent their homes for less than 30 days more than three times a year. The city may need to use money from the general fund to kickstart the program and to fund the registration software, which will cost $90,000 annually. Council agreed to prohibit use of state taxpayer funds to enforce the rental registration.
Noise standards are also a significant aspect of the ordinance, with stricter rules for short-term rentals than for regular single-family households. In short-term rentals, noise should not be heard for more than 60 seconds by any adjacent or non-adjacent property, including human, animal, electronically generated and mechanically generated sounds.
NCH Healthcare System became the first Southwest Florida health care system to offer Aquablation therapy for treating lower urinary tract symptoms due to benign prostatic hyperplasia.
Aquablation therapy is an advanced, minimally invasive treatment that uses water delivered with robotic precision to provide best-in-class and long-lasting symptom relief with low rates of irreversible complications, regardless of prostate size or shape. It is performed by the AquaBeam Robotic System, the first Food and Drug Administration-cleared surgical robot utilizing automated tissue resection to treat lower urinary tract symptoms due to BPH.
It combines real-time, multi-dimensional imaging, automated robotic technology and heat-free waterjet ablation technology for targeted, controlled and immediate removal of prostate tissue.
Solstice, a new retreat resort and event space, opened in January on property formerly occupied by Cabana Jones vacation rentals. Robbin Webb sold her business in Virginia before investing in real estate a couple of years ago, most recently purchasing the half-acre property for Solstice about 5 minutes from downtown Punta Gorda.
The resort offers six bungalows, each with its own kitchen and bathroom and each themed around tropical fruit. While visitors won’t see a bunch of oranges in the Orange bungalow, it is apparent the fruits inspired some aspects of design. The other bungalows are called the Avocado, Grapefruit, Mango, Guava and Papaya, and range from a starting cost of $199 to $252 per night.
Reservations can also be made for the entire venue, accommodating 17 people, starting at $1,590 a night. Individual bungalows have a two-night minimum requirement for reservations, with a three-night minimum for the entire property for intimate weddings, retreats, reunions or other gatherings.
Amenities at the retreat resort include a waterfall pool with a hot tub grotto, a smoothie/margarita bar, daily breakfast and yoga, multiple hammocks, hidden meditation spaces and a large tiki hut event space.
Americans spend about $123 billion on their pets annually, according to the American Pet Products Association. It’s a rapidly growing industry fueled by the pandemic. Just four years ago, the industry had never topped $100 billion before. New Census data sheds a light on America’s pet profile.
Roughly half of American households (63.8 million) have a pet of some sort. Pet households tend to have children, too. Roughly 57% of households with kids have a pet. And, if you do have a pet, chances are it’s a dog. Three-fourths of pet households have at least one dog.
The same trends tend to hold true in Florida, too. About 3.7 million Floridian homes have a pet, only slightly less than half (45%). Dogs are the most popular, followed by cats and fish.
FLORIDA UNITED STATES
63.8 million 49 million 28.2 million 2.7 million 4.9 million 2.8 million 2.5 million
When Collier County officials designed the Heritage Bay Government Services Center, they envisioned a contemporary, state-of-the-art, onestop shop with a seamless flow that would serve county residents well into the future.
The 22,780-square-foot center at 15450 Collier Blvd., just north of the Immokalee Road intersection, opened in August to serve the county’s growing northeastern section. Typical construction would have taken 18 months, but tilt-up construction shaved off six months, allowing walls to be poured on-site and lifted by crane—which also enabled Construction Manager At Risk Kaufman Lynn Construction and Stantec, the architect and design team, to complete the project ahead of schedule and $300,000 below the $11.7 million budget.
“The crane started lifting the tilt-wall panels on April 7 and the full structure was up by April 12,” says Tony Barone, principal project manager for the county’s Division of Facilities Management, which partnered with Tax Collector Rob Stoneburner on the project. “And then the real work began on building out the inside … It’s a quicker and more efficient way to build in an environment where we have shortages.”
The design is similar to the North Collier Government Center on Orange Blossom Drive, but it’s an improved version due to new energy codes and best practices. One of the county’s most efficient buildings, it includes intelligent lighting and energy management systems, a full
The 22,780-square-foot Heritage Bay Government Services Center at 15450 Collier Blvd. opened in August, six months ahead of a typical schedule, thanks to tilt-up construction.
backup generator and centralized battery backup system that saves energy and protects building systems from failure. It can withstand 180-mph winds and is designed to open a day after a major hurricane to provide much-needed services.
Materna Professional Engineering, which did the electrical and HVAC system work, installed an HVAC chiller system that cools water and retains it, making it energyand cost-efficient. An IT control room features a dry fire-suppression system that will protect equipment.
Offices are situated behind counters to provide efficiency. “We went to great lengths to make sure this building was more accessible than minimum requirements,” Barone says, noting that one-third of service counters and all permit counters are at wheelchair height, and quiet rooms are provided for sensitive conversations.
Although it’s not green or sustainably certified (a costly process), the county saved taxpayer money by foregoing certification while still addressing carbon, energy, water, waste, transportation, materials, health and indoor environmental quality. “We asked our design team to design it to that higher green-design standard,” Barone says.
Inside the lobby, expansive, hurricane-impact windows provide lots of light and separate seating areas are divided into sections that include the Tax Collector, Clerk of Courts, Property Appraiser, Supervisor of Elections and the Growth Management Community Development Department.
Residents and businesses can do nearly anything quickly, from building permits to veteran services, early voting, court records, utility payments, driver and boating licenses, marriage licenses, concealed weapon permits, hunting and fishing licenses and property and business tax payments. There’s also a driver-test room with 16 computers, surveillance cameras and an observation room, and an isolated driving test area outside.
A large flexible space is available for public meetings and features back offices, a reception area and restrooms that can be closed off from the main building after hours. It also can be used by government officials who need a satellite office, voting or county training. Public meeting rooms feature window shades and an audio-visual system that can be controlled with the flick of a button. Public kiosks also are available if there are lines, or customers can use a QR code and wait outside to be alerted.
Acoustic tiles absorb loud noises in the main lobby, where the ceiling height slopes downward from 26 feet. The fabric-covered dividers in seating areas absorb sound, too, as does the easily cleanable, antibacterial, gray-toned Bentley Mills NexStep Cushion Tile carpet — and it’s Silver Cradle-to-Cradle Certified, which considers material health and reutilization, renewable energy and carbon management, water stewardship and social-fairness standards.
Cost-saving measures abound, such as motion sensors that turn out lights in empty rooms, or turn lights down or off when they
detect sunlight. Bathrooms feature wide-plank ceramic wood tile, subway tiles and decorative vertical ceramic wood-plank tiles, while luxury vinyl wideplank flooring was used in back-office areas and the break room.
Employees can use a private wellness room for breast pumping and other needs. There’s a refrigerator, sink, phone and two curtained areas that also can be used for flushot and other wellness clinics.
The 7.7-acre site is designed to accommodate a future EMS station, another government building and parking garage if needed, Barone said, adding, “The placement of this building considers the growth that’s going to happen in the county.”
The building also can accommodate needs, Stoneburner said, noting, “I really like things to serve dual purposes, so we have a lot of flex space.”
Tori Linton grew up gardening. Growing something from scratch comes naturally for her, and the joy a fully bloomed flower brings is unlike anything else.
“I’ve always loved when flowers bloom,” she says. “It’s like they talk to each other.”
Now she’s seeking to get people to connect through plants. She started her business, En Root, a little more than a year ago. She sells custom-made planters for bonsai, air plants, succulents and more. She’s built it a little at a time, selling online and at farmers markets. She’s also hosted plant swaps—events where plant-lovers trade what they’ve grown—and terrarium-building workshops.
She hopes to have a brick-and-mortar store eventually, not just to sell her own wares but to bring people together for classes and events. “It’s always fun talking to people about plants and creating those connections,” she says.
Kelly Jones
Tori Linton opened En Root a little more than a year ago selling custom-made planters. She hopes to expand, bringing people together through classes and events.
Diagnosed with a disease that causes muscle weakness, Tori Linton needed a change, which is when she got the idea to turn her hobby into a business.
The New York native moved to the Naples area to follow her parents, who are also gardeners. She was working a retail job when she was diagnosed with myasthenia, a neuromuscular disease that causes muscle weakness. She needed a lifestyle change, and the idea for the business was formed.
Linton propagates most of her plants herself and creates the vessels they go in, from the hand-stitched macrame hangers to the concrete and beach rock planters.
She’s taken a hobby and turned it into a business—one where she can also find peace and joy. “When you can care for plants, you can care for yourself,” she says.
JANELLE FRANCIS OF FRANCIS FARM TURNED A HOBBY INTO A MICROGREENS EMPIRE
By Artis Henderson
Janelle Francis didn’t come from a farming background, but she’s making up for it now. A native of Cape Coral and a Florida Gulf Coast University graduate, she moved to Punta Gorda after she got married in 2013. That’s where she started with her first chickens.
“People call chickens the ‘gateway livestock,’” Francis says. “And they’re right. Soon I was like, ‘I need more land. I need goats.’”
She got her wish soon enough. Francis and her husband moved to 2 and 1/2 acres, had twin boys and acquired a pair of goats in addition to the chickens. For the next few years, Francis ran her little farm as a hobby— until one day her husband very politely mentioned that the livestock were running up a hefty tab. Francis had stayed home to raise their boys, but this was the moment she decided that her farm needed to start generating income. She began raising microgreens as chicken feed, and soon reckoned that she could turn a profit by selling them at farmers markets and to local restaurants. “My first goal was to make a hundred bucks a month to cover the feed and the hay,” she says.
Janelle Francis started out with just chickens, which led to goats, which led to her raising mircrogreens to turn a profit.
Francis said that the hardest step in her journey to becoming an agricultural entrepreneur was the very first one. She laughs now, remembering. “I don’t understand what the big deal was back then.”
The step she’s talking about? Creating a Facebook page for Francis Farm.
As someone who’s dealt with social anxiety all her life, she was afraid of putting herself out there. The thought of speaking to new people was terrifying. But once she made the leap and launched her business into the world, she received an incredible amount of support. “Everybody was like, ‘Do it, do it,’ and that propelled me forward.”
Today, at her weekly farmers markets, Francis lights up when she has the chance to speak to new customers. “Now it’s second nature to me,” she says. “I love going to farmers markets and talking to people. It just took that one big step to get me started.”
When Janelle Francis went to her first farmers market, she didn’t sell one thing, until a Punta Gorda restaurant called and bought a cooler full of product. Now she sells to multiple restaurants and markets.
Francis got to work growing kale and broccoli microgreens, and in the spring of 2020, she set off for her very first farmers market. But it was a complete disaster. “It poured rain the whole time,” she says, “and nobody showed up.”
There she was with a cooler full of microgreens and not a single client. Until Peace River Seafood in Punta Gorda called that afternoon. “Let me see what’s in your cooler,” the restaurant’s owner said. Francis showed her what she’d grown. “OK, I’ll take everything,” the owner told her.
That was the moment that launched Francis Farm from a hobby into a professional enterprise. Since then, Francis has expanded her microgreens business to a variety of restaurants and multiple markets each week. Today she brings in enough cash flow to cover her chicken feed—and then some.
As a kid who grew up in western Pennsylvania, I’m always glad to see February arrive. And I know I’m not alone in loving this short-but-sweet month.
It brings the Super Bowl: Die-hard fans love it, so do casual bandwagon fans, and retailers that sell big TVs and game-day food and drinks might love it most of all. Last year the National Retail Federation estimated that the average American spent nearly $80 celebrating—adding up to a whopping $14.6 billion nationwide. And we spend because we love getting together with our colleagues, families and friends, and most of us enjoy laughing (or groaning) at the latest crop of very expensive advertising spots that air during the game.
Lovebirds cherish falling in love, or being in love, on Valentine’s Day. And
restaurants, florists and chocolatiers all adore it. Here’s a fun economic fact: According to Facebook data, Feb. 14 is one of the times each year when people are most likely to change their relationship status on the site. Apparently, lots of people decide to more seriously weigh costs against benefits of current and prospective relationships in mid-February because the holiday forces greater consideration—perhaps in part because of the $208 average we spent in 2022 on our significant others, according to survey data from Lending Tree. It isn’t romantic—at all—but it’s entirely possible some relationships ended last February because some Americans decided a preemptive break-up before Feb. 14 was worth the $208 they got to keep in their pockets.
And people call economics the “dismal science.”
Yet I love February for a different occasion: Groundhog Day. I love this particular holiday simply because I grew up in Punxsutawney, Pennsylvania—the legendary “Home of the Groundhog.”
Since 1887, the “Inner Circle”— those people you see in top hats and tails at 7 a.m.—have consulted Punxsutawney Phil to determine whether he saw his shadow the morning of Feb. 2, as the little groundhog/meteorologist emerged from his burrow. As most of us know, if Phil sees his shadow, it portends six more weeks of winter. And if he does not, we’ll have an early spring.
Nowadays the phrase “Groundhog Day” may be more likely to remind
people of the 1993 fantasy comedy film starring Bill Murray. Set in Punxsutawney, the hit movie is famous for the daily “déjà vu” experience of its main character, and is estimated to have grossed more than $100 million worldwide. Without giving away any spoilers for those who haven’t seen it, these repeated scenes are so memorable that now people use the expression “Groundhog Day” to refer to any repeated experience that appears to have no end. Especially if the experience isn’t a pleasant one.
Here in Southwest Florida, it can feel like we experience our own version of “Groundhog Day” each year when the snowbirds return and Season is upon us once again. Season can be a headache, and reliving it each winter
can feel like Bill Murray’s bad case of déjà vu. The traffic is terrible, it’s hard to get a table in almost any restaurant and even something as generally simple as wheeling a shopping cart around the grocery store is an adventure.
On the other hand, the annual return of Season is a reminder to all of us that its minor inconveniences are well worth the tremendous vitality it brings to the region, both economically and socially. At least in normal times.
Yet the last few years have been anything but “normal” here in Southwest Florida. First, we faced a global pandemic. But snowbirds flocked back to our region in record numbers. And now we are digging out from Ian, which devastated some of our area’s finest jewels: Matlacha, Estero Island, Sani-
bel … the list goes on. The good news is that the snowbirds have returned. Just like always. Just like Groundhog Day.
What remains less clear is what snowbird season will look like moving forward. While no one knows for sure, I remain confident that Southwest Florida will remain a place where droves of northerners will return, in search of their own early spring. And I am looking forward to the usual.
Victor V. Claar is associate professor of economics in the Lutgert College of Business at Florida Gulf Coast University. He serves as adjunct director of the George Gibbs Center for Economic Prosperity at the James Madison Institute, and chair of the board of the Freedom & Virtue Institute in Fort Myers.
Like Groundhog Day the movie, SWFL has the return of Season year after year. While locals may think Season is a headache, it brings tremendous vitality to the region, both economically and socially.
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Old Corkscrew Golf Club
April, Hoffmann Family of Companies paid $14.5 million for the Old Corkscrew Golf Club off Corkscrew Road, east of Estero.
The Southwest Florida real estate world just kept humming along for the first two-thirds of 2022. The pace of multimillion-dollar deals didn’t move as fast, nor were they as eye-opening, as one year prior. But the top deals across multifamily, office, industrial, raw land, retail and residential sectors will continue to reshape the region for years to come.
Apartment complex after apartment complex changed hands from one set of investors to another looking to cash in on the hordes of people choosing to live in Southwest Florida. Some wanted to leave cold winters behind them. Others wanted to be near the warm waters of the Gulf of Mexico. Still others wanted to take advantage of the new, work-fromhome environment accelerated by the COVID-19 pandemic. Many simply wanted to live near family and friends. Or, all of the above.
And then, over the course of about eight hours on Sept. 28, Hurricane Ian destroyed some 20,000 homes and multitudes of waterfront hotels, resorts, restaurants and businesses. The coastal communities of Naples, Bonita Springs, Fort Myers Beach, Sanibel, Captiva and Pine Island and the Rotonda West area of Charlotte County will take years to completely recover.
But with inland areas escaping the storm relatively unscathed, the Category 4 storm would not end the aforementioned trends of people moving to Southwest Florida, real estate experts told Gulfshore Business.
Rising interest rates, combined with high demand for area real estate, would decrease the buying power of many corporate groups and regular prospective home buyers, slowing down the process for all but the wealthiest of investors.
But Ian’s aftermath also would create new real estate trends—trends that would become clearer in the months and even years ahead, getting into 2023 and beyond.
“The hurricane changed everything,” says Gary Tasman, the CEO of Cushman & Wakefield in Southwest Florida. “Generally speaking, as horrific an event as that was, we learned some important lessons from that. It showed what our weaknesses were. Rebuilding from the hurricane will be a great economic benefit to us. We still see some favorable market positions going into this year.”
“I do think the hurricane will be the overwhelming story,” says Matt Simmons, a property appraiser with Maxwell, Hendry & Simmons. “It threw such a wrench. But if we’re talking
about transactions, well, yeah. Apartments were still in the driver’s seat in terms of grabbing the headlines.”
Far and away, apartment deals generated the biggest price tags of all 2022 real estate deals.
“The eight largest transactions were all multifamily projects,” says Paige Rausch of Aslan Realty Advisors. She monitors transactions in Lee County.
These deals began one year ago, when the Drift at the Forum in Fort Myers, with 194 units, sold for $62.5 million. Momentum Real Estate Partners of Miami made the purchase, paying $322,000 per unit, which yet again broke all the Lee County perunit records that were broken and re-broken during 2021.
As 2022 ended, JBM, the Naples-based brokerage firm helmed by Jamie May, completed the sale of the Bonita Springs Versol apartment complex, an $87.25 million deal. The 240-unit complex, built in 2020, traded at $363,542 per unit. This marked the second time in two years JBM had sold the property, with the price rising from $70.35 million and $293,125 per unit the first time.
After Hurricane Ian destroyed many houses in the area, a lot of displaced people looked to apartment communities as they restored their homes.
This deal took place more than two months after Hurricane Ian, and it demonstrated the resilience of area demand moving forward, May said.
“I think it scared the bejesus out of all of us,” May says. “It flooded my own home pretty badly. But at the end of the day, there were enough apartments that had been made that helped save the day. Just look at The Pearl.”
JBM had been marketing another Naples apartment complex—The Pearl Founders Square—prior to Hurricane Ian, and got it under contract just three days after the storm.
“It was 50% leased when it went under contract Oct. 1,” May says. “And then immediately following, they’re
closer to 88% leased. They’re more than 80% occupied. A lot of the people who were displaced from their homes found refuge in an apartment community. And a brand-new apartment community in this case. The Pearl never had any damage whatsoever other than some downed palm fronds; they got cleaned up pretty quickly.
“A lot of people who were looking at apartment deals wanted to wait and see several weeks after the hurricane. But the market was strong. We all knew it would slow a little bit during the summer, but the hurricane’s wreckage actually brought it back. From an investor’s standpoint, Southwest Florida was one of the fastest-growing
markets in the country. The hurricane actually kept it that way.”
Versol did not close until after the new year, making it a candidate to headline the 2023 Top Deals roundup one year from now.
But sandwiched between the Drift at Forum deal and the Versol sale, hundreds of millions of more dollars changed hands. May has seen indications these deals will continue taking place in Lee and Collier counties in 2023.
“Rents were going up 34% year over year in Naples,” May says. “That can’t go on forever. There were too many people moving to Florida, and not enough shelter for them to move to.”
A much smaller deal may lead to much bigger things in residential real estate moving forward, said Nelson Taylor, the market research director and vice president for the Southwest Florida land brokerage firm LSI Companies.
In July, a 40-acre parcel near the Punta Gorda Airport in Charlotte
County sold for $4 million. The buyer, S2A Modular, specializes in building modular homes. It has three factories in California, one in Waco, Texas, and another in Macclenny, Florida. The company could not be reached for comment, but the potential is there to build a sixth home factory on the Pun-
ta Gorda site. It cannot be built fast enough, Taylor said, given the number of new-arriving residents and the number of vacant lots in locales such as Cape Coral and Lehigh Acres—places in perfect proximity to the site.
“We need housing,” Taylor says. “We need housing now. The quickest
A 64-acre parcel east of I-75 and on the north side of State Road 82 sold for $30 million in July. In 2003, the land was sold for $2.2 million.
route to that is to go modular. It’s basically two mobile homes attached, but they’re 1,800 square feet. This is what we need. It’s like turning on a spigot. If that factory was opening and producing, that’s what we need right now—that thing just pumping out homes.”
In south Fort Myers, Pulte Homes paid $2.4 million for a 17-acre lot at the southeast corner of Idlewild Street and Plantation Road. The land will become Addison Square, a community of 52 homes, and Chuck Mayhugh of Mayhugh Commercial Advisors brokered the deal. Those homes will start at more than $500,000 and will range from 1,600 to 3,400 square feet.
Other vacant land continued to sell in 2022. And it did so mostly with building more apartment complexes in mind.
A 64-acre parcel just east of I-75 and on the north side of State Road 82 sold for $30 million in July. The Huether family of Fort Myers sold it to the Atlanta-based Varden Capital Properties. The Huethers paid $2.2 million for the same parcel in 2003. That’s a 1,263% climb in value over 19 years of sitting on it—and of cows grazing on it with the landowners having an agricultural exemption. LSI Companies brokered the deal.
“That is some high-value land,” Simmons says. “I think that’s clearly a buyer who is all-in on Southwest Florida—and was willing to pay more for one of the last swaths of land in a
densely populated area. That’s a big, big bet on Southwest Florida.”
Taylor marveled at the purchase, too. Especially since his company brokered it, putting it in line with millions of dollars in other nearby deals to be developed along State Road 82 near Lee and Colonial boulevards.
“You’re probably looking at a total land value of near $120 million,” Taylor says of that deal combined with others that took place in that corridor. “They’re big swaths of land. It’s a simple thing. It’s got the land. It’s got the movement. It’s a desirable area.
Lowe’s, Publix, Walmart, Target, you have all the national brands representing the area. Now, we’re just flooding it with more housing. It’s one of those things where it’s going to get return.”
A 45.6-acre parcel fronting U.S. 41 and Coconut Road in Estero sold for $32 million in August. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield brokered this one, as Lee Health sold the land to the South Carolina-based Woodfield Development and ELV Associates. That land value, $10.48 million when Lee Health bought it, grew by 205% over the past five years.
Like the former Huether land, the former Lee Health land will be developed into apartments.
The Estero land will have a “live, work and play” feel to it. Some rezoning has yet to take place; it also had been used as a hurricane debris drop-off point. But the eventual plan
is to create a retail and living center similar to the one at Mercato in North Naples, Tasman said. It also will complement the nearby Coconut Point shopping center.
“In terms of moving forward, our biggest deal was that Lee Health land site,” Tasman says. “That’s going to change the dynamics of that entire section. It’s going to bring much-needed housing and high-end retail. It will have a big impact on solving some problems with that sale.”
Collier County showed its land-value growth, too. A 7.18-acre parcel on the southwest corner of Immokalee Road and Catawba Street sold for $8.2 million in June, a 241% increase from its prior sale for $2.4 million just four years ago.
A parcel just under 19 acres at 8552 Collier Blvd. in East Naples sold to Latigo Naples LLC for $8.9 million. A 265-unit apartment complex is planned for that site, and Tasman and Stoneburner of Cushman & Wakefield brokered that one, too.
Latigo Cape Coral LLC, based in Los Angeles, also purchased 27 acres just east of Chiquita Boulevard in Cape Coral for $14.6 million for even more apartments.
The constant demand for new apartments did not surprise Simmons, the property appraiser. But bucking national trends did.
“We have continued to persist with rent increases,” Simmons says. “Even when much of the country has pulled
back, Southwest Florida is still full steam ahead. That’s a different position for us as a community. We’re usually on the leading edge of trends, one way or another. This time, it looks like the rest of the country has made a shift, but we have kind of bucked the trend here, at least for a while. Migration into Florida has been so strong, we just don’t have enough rooftops for people.”
Hurricane Ian’s aftermath will continue to factor into future housing needs. “It’s a really cash-heavy market,” Simmons says. “A lot of the country is pulling back as a reflex to rising interest rates. We don’t have that same rate sensitivity.”
The Huether land in Fort Myers had been considered by Amazon as an industrial site to build a warehouse complex. Although more Amazon sites have been put on hold, leaving a chunk of that land selling to an apartment developer, an existing warehouse off Alico Road used by Amazon generated some buzz when it sold for $67.8 million, making it the marquee industrial sale of the year in Southwest Florida. ET Fort Myers bought the 183,456-square-foot warehouse at 8270 Logistics Drive from Seefried PSO Fort Myers LLC.
In mid-December, LSI brokered three medical office buildings that combined for 80,000 square feet—
An existing 183,456-squarefoot Amazon warehouse off Alico Road generated some buzz when it sold to a group of investors for $67.8 million.
and a price tag of $24.7 million. They were located in southwest Cape Coral, just south of College Parkway and near U.S. 41 in south Fort Myers.
Coconut Creek-based industrial developers Butters Construction & Development and the Canada-based property management company
BentallGreenOak purchased almost 300 acres near I-75, just south of the Southwest Florida International Airport exit off the interstate. They paid $40 million, making it far and away the region’s highest-priced industrial land deal of 2022.
Harvey Youngquist’s company
bought the land out of bankruptcy for $5.74 million in 2017. That gave it a healthy boost in value of almost 600% in five years. The value grew by so much because the land entitlements grew, too. It shifted from 1.4 million to 2.5 million square feet of industrial space and from 131,000 to 225,000
square feet of office space. An additional 200,000 square feet of medical office space also was added, along with up to 360 hotel rooms.
Bob Johnston, Derek Bornhorst and Jerry Messonnier represented the buyers, while Tasman represented Youngquist in brokering the deal.
One of the buyers, Malcolm Butters, the president of Butters Construction & Development, didn’t seem to mind paying the price.
“It’s a great opportunity,” Butters said after purchasing it in May. Some of the land will be developed into Gulf Landings Logistics Center, an industrial complex. “I’m very bullish on Southwest Florida. To me, I think it’s the best industrial site in all the Naples-Fort Myers corridor. I think it’s going to do very well.
“We saw this opportunity in Southwest Florida. We couldn’t resist it. The location and the visibility next to the airport is second to none. The growth story of the Southwest Florida market, it’s one of the top 10 growth areas in the nation.”
As the year came to a close, two notable car dealerships changed hands for the second time in less than two years. Kia of Cape Coral, the former Fuccillo Kia dealership that had been recognized by the Korean brand as the best-selling Kia dealership in the world under Billy Fuccillo’s guidance, sold Dec. 19. Morgan Automotive Group paid $14.5 million for the Cape Coral land and $22.35 million for the Kia of Port Charlotte land.
“The last two years have been very unique,” says Larry Morgan, founder and owner of Morgan Automotive Group, which has grown from owning 30 to almost 65 dealerships over the past five years. “From a possibility standpoint, they’ve been really good. They’ve also thrown quite a few curveballs at us. We went from having no cars to sell to having used cars that were worth more three years after compared to what they paid for them when they bought them. Now the prices are coming back down again.”
In April, Hoffman Family of Companies paid $14.5 million for the Old Corkscrew Golf Club off Corkscrew Road, east of Estero. It also paid $4.5 million for the adjacent Cottages at Old Corkscrew Golf Club, about 20 acres.
In Collier County, Fifth Avenue South continues to soar with lucrative retail real estate deals. In May, Bruce Barone Sr. and family purchased 165 Fifth Ave. S. from Jim Smith and family. The price: $27 million for the retail and office building that’s just under 20,000 square feet.
“It’s a big number,” says Rob Carroll, who brokered the deal along with Patrick Fraley of Investment Properties Corp., on behalf of the Barone family. David Stevens, also of IPC, represented the Smith family.
“I think it’s indicative of the power of Fifth Avenue,” Carroll says. “I think
One could argue that Fifth Avenue South is the face of Naples, and if you're a luxury retail brand, it’s really where you’ve got to be, according to real estate broker Rob Carroll.
The trend of multifamily apartment complexes selling for tens of millions of dollars in 2021 continued well into 2022. In just the months of March and May, five complexes in Bonita Springs, Estero, Fort Myers and south Fort Myers sold for a combined $487.55 million.
In March, there were three. The Lennox, an aging, 936-unit Fort Myers complex near Boy Scout Drive, U.S. 41 and Summerlin Road sold for $122.2 million, about $159,000 per unit; Cardinal Capital Properties of Dallas bought it. Estero Oaks, a 280-unit complex, sold for $94 million to the Fort Lauderdale-based Royal Palms Companies. Diamond Oaks Village, a 55-and-over community in Bonita Springs, sold for $77.75 million to Castle Lanterra Properties, based in New York; this one grew by 52% in value from a previous sale just two years prior.
In May, Murano at Three Oaks, a 318unit complex at the southwest corner of Interstate 75 and Alico Road, sold for $122.5 million to Murano Top Associates LLC. The Reserve at Coconut Point, a 180-unit complex in Estero, sold for $71.1 million to Air Communities of Denver, Colorado. At a price of $398,000 per unit, it was another Lee County perunit record.
Brian Tietz
The Reserve at Coconut Point, a 180-unit complex in Estero, is another Lee County per-unit record sale at $71.1 million, a price of $398,000 per unit.
Gary Tasman of Cushman & Wakefield says the 45.6-acre parcel fronting U.S. 41 and Coconut Road in Estero, which sold for $32 million, was the company's biggest deal in terms of moving forward.
Fifth Avenue has kind of risen to the top location in the Naples area. It has become the iconic face of Naples. In the last several years, it’s grown in attention and status from national retailers. If you are a luxury retail brand, and you want to take advantage of the Naples market, it’s really where you’ve got to be.”
That deal took place more than four months before Hurricane Ian churned though the area. But on Nov. 30, two months after the storm had cleared, another mammoth deal took place. It signaled that the luxury residential market would not take a hit from the hurricane.
A West Gulf Drive home on Sanibel Island, one built in 1998, sold for $11.7 million, the highest-priced home ever to be sold in that ZIP code. Brian Rist, who had founded the Storm Smart brand of hurricane shutters, made the purchase more than a year after selling his company. The home has 300 feet of beach frontage along the Gulf of Mexico to go with five bedrooms, six bathrooms, a tennis court, wine cellar, swimming pool, elevator and 6,000 square feet of living space.
Michael McMurray, a broker with Royal Shell Real Estate, closed the deal. The home had been on the market for just 20 days. “It’s a special piece of property,” McMurray says. “It’s on a high ridge. It’s probably the best beach area on Sanibel.
“After a Category 4 hurricane, it means the islands are going to come back, and they’re going to come back stronger than ever.”
GROWTH THAT KEEPS GROWING
been what feels like a generation’s worth of problems all happening within two years: a pandemic, quarantines, steep inflation, supply-chain shortages, a major hurricane, a looming recession. And even if your business has survived all this, chances are you’re still struggling to find good employees.
Hector Sanchez, a vice president for Florida operations at Loos & Co., has seen a host of issues with attracting and retaining employees. He had an employee quit because the man’s rent doubled; then he had two experienced workers retire early because of how much they made selling their homes.
Loos & Co. manufactures high-grade cables, ropes and wires. Its employees are highly skilled machinists or have engineering backgrounds. “We are looking for people with specific skills, and that population just isn’t here in Naples,” Sanchez says. “I joined (Loos) six years ago, and you could tell back then that we were going to face some (hiring) challenges. Well, that’s been severely exacerbated recently.
“Right now, if 10 of the right people came through the door, I’d hire all 10 of them on the spot.”
Workforce issues continue to be among the most perplexing challenges facing businesses in Southwest Florida. And chances are they won’t abate anytime soon.
Remember the Great Resignation? Or maybe it’s the Great Reshuffling? Well, whatever it’s called, it’s still going
on. A study by Gartner projected that 37.4 million people would quit their jobs in 2022—a lower level than 2021 but still a 20% increase from pre-pandemic levels. Meanwhile, 40% of workers say they plan to leave their jobs, a number that’s unchanged since 2021, according to management consultant company McKinsey. People are leaving for a variety of reasons, whether it’s childcare complications, health concerns or early retirement. Many people simply decided it was time for a change; they quit for more flexibility or higher pay or to find work that’s more fulfilling. Retail, restaurants and other industries with face-to-face interaction with customers were hit the hardest. The Bureau of Labor Statistics found that the leisure and hospitality industry, for example, had a quit rate that peaked at 6% during the Great Resignation, compared to 4% pre-pandemic. For comparison, in finance, the quit rate stands at about 2% and actually declined during the start of the pandemic. Brian Tietz
Hector Sanchez, a vice president for Florida operations at Loos & Co., said he would hire 10 people on the spot if the right 10 came through the door. The company needs people with specific skills and has had hiring issues even before the recent exacerbating factors.
This reshuffling has hit home, as well. The Regional Economic Research Institute at Florida Gulf Coast University looked at unemployment levels in various industries in Southwest Florida from the onset of the pandemic to November of last year (see p. 52). Hit the hardest were hospitality and leisure, which saw a 65% increase in unemployment. By comparison, the construction industry actually saw a 21% reduction in unemployment. Since, the construction industry has remained strong, while hospitality and leisure employment has yet to bounce back to pre-recession levels. Hurricane Ian has further complicated matters, too: Overall, unemployment in Lee, Collier and Charlotte counties hit 3.6% in October, up from 2.6% the previous month.
Yes, the state, and Southwest Florida in particular, saw an influx of people during the pandemic. But across the board, it seems like there still just aren’t enough workers. Through
September 2022, Florida averaged around 665,000 job openings per month. Pre-pandemic, that number rarely got above 450,000. It’s a matter of too many jobs and not enough employees. There’s a range of reasons for so many openings, whether it’s a slowdown in immigration or more people taking on part-time work or starting their own businesses. In Southwest Florida, the rising cost of housing has scared some employees away. But as Sanchez of Loos & Co. observed, the region has traditionally struggled to produce a diverse workforce, leaving some businesses having to search far and wide for employees.
So, it’s time to think differently. Business managers and owners who aren’t willing to adapt to the changes the pandemic has brought will lose workers to more forward-thinking employers. "Businesses are learning to be creative,” says Amy Hanna-Eckenrode, communications manager for CareerSource Southwest Florida. “People aren't looking for that 9-to-5, work-for-20-years job anymore."
Focus more on retention. The cost of losing an employee can be steep. The loss of productivity and the costs associated with the hiring and training processes add up quickly. The Society of Human Resource Management estimates it costs the equivalent of six to nine months of a position’s salary just to find a replacement. So if you’re spending an inordinate amount of time hiring, you can save yourself the stress by focusing more on retention.
The best way to keep your good people is to let them know they're valued—and that you’re willing to listen to their concerns about the workplace. That may mean offering better benefits or raising pay … but those measures alone may not be enough. A study by McKinsey noted that one business raised salary ranges by 15%, but it didn’t make a dent in a high level of attrition because it didn’t address the high-stress, longwork-hour environment.
And don’t discount professional development; find ways of encouraging
your employees to expand their skill sets. It's not training them to leave for better jobs, but letting them know they're valued in their current workplace. "This is a time to invest in people,” says Erica Castner, Fort Myers business coach and consultant. “Keep your people happy and engaged."
Rethink workplace policies.
The pandemic altered what many people are looking for in a job. The biggest sticking point is remote work—many employees got used to a hybrid or work-from-home model during the pandemic, and that’s frequently led to a disconnect between upper-level management and lower-level employees. A survey by Gartner found that 68% of employees who said their work could be done remotely are required again to report to an office. More than half of employees surveyed say that a remote work option will be a major factor in determining whether they continue to work for their current employer.
It’s an example of how employers have moved beyond “traditional” job attractions, as described by McKinsey. Salary, benefits and advancement opportunities are all still important, but flexibility has become high on the list of what employees want. As noted in the study, some
Erica Castner, Fort Myers business coach and consultant, says it is important to let employees know they are valued. 'This is a time to invest in people,' she says.
employers even ask during the interview process about candidates’ preferences when it comes to remote work or flexible work hours. The concept of a fourday workweek hasn’t caught on quite yet in the United States as it has elsewhere, but companies are experimenting with shorter workweeks in an effort to make their workplaces more efficient. Of course, these options may not work for everyone depending on the nature of the business, which can cause hardships for industries such as food and beverage that aren’t built to offer the option of working from home. "Employees want flexibility,” Hanna-Eckenrode says. “At the same time, businesses can only bend so much."
Help shape the workforce.
A concerted effort to change the Southwest Florida workforce has happened within the last several years. The FutureMakers Coalition has a goal of making 55% of Southwest Florida’s workforce have some form of post-secondary education by 2025. It’s one of several examples of businesses and organizations banding together to
help train the next generation.
Immokalee Technical College’s Center for Manufacturing Excellence is a hands-on training facility for students preparing to go into careers that involve high-level machining and technological skills. It’s a collaboration among Collier County Public Schools, the Naples Chamber of Commerce and local manufacturing businesses. Loos & Co. has an internship program with the center, and currently employs four people who have gone through the machining technologies program, said Sanchez, who has served on its advisory board. Given that finding skilled machinists can be a challenge, getting involved in the center’s program is a way to develop that skilled workforce locally, he said. Experienced machinists cost more, but the alternative is hiring less-skilled workers and hoping extensive onthe-job training can bring them up to speed—which is less than ideal.
“I’d much rather hire the right people and pay them the right salary,” he says.
During tough times, sometimes the best employee solutions have to do with inefficient practices. Finding that your sales team is spending too much time on paperwork? Perhaps now is the time to shift responsibilities or eliminate the paperwork entirely
with a new software system. Little things such as expense reports or invoice payments can free up time once automated. "Automation can be your friend," Castner says. She adds that this is the time to ask a hard question: What are the things we do that just aren’t worth it? “Look at what you do, [then] get rid of things that cost too much time and labor and don't make much money,” she says.
You’re not the only one feeling the pain. So find people or organizations that can find solutions to your problems. The Florida Small Business Development Centers offer free consulting. CareerSource Southwest Florida has no-cost options to connect employers to job seekers and even funds some work experience programs. Beyond that, start networking, Castner suggested. Look to start a business roundtable where you can share ideas among people in a similar situation. "It can look bleak, but once you start talking it can feel less so," she says. "Surround yourself with positive people.”
The last two years have been a challenge, to say the least. But those who survived will have gained the skills to navigate tough times in the future. “We will be in this situation again,” Castner says. “We need to be prepared and be ready for change.”
Fig. 1
Between February 2020 and November 2021, unemployment in Southwest Florida sharply rose as lockdowns hit, then slowly faded until it was close to pre-pandemic levels. Once the dust settled, a shift emerged in the workforce, with levels of unemployment varying wildly among industries, according to a report from the Regional Economic Research Institute at FGCU. It goes to show just how much a year and a half affected the business landscape in Southwest Florida.
64.9% 28.4% 10.8% 5.5% 1.7% 1.2% -0.5% -7.3% -15% -21.9%
33.2%
Amy Hanna-Eckenrode, communications manager for CareerSource Southwest Florida, said employees want flexibility, but at the same time, businesses can only bend so much.
How does the workforce in Southwest Florida break down? According to the Bureau of Labor Statistics (looking at total non-farm employment in Punta Gorda, Fort Myers-Cape Coral and Naples areas), we’re still heavily focused on the service industry. Close to 20% of the workforce is under the trade, transportation and utility sector, which includes retail outlets. Even though jobs in the hospitality and leisure sector have not reached what they were pre-pandemic, that sector still remains 16.4% of the workforce. (For comparison, leisure and hospitality jobs make up about 10% of the U.S. workforce.)
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For a free consultation, contact leads@lqwest.com.
1614 Colonial Boulevard, Suite 101 Fort Myers, FL 33907 (239) 275-4922
LSI Companies is the parent company of Land Solutions, LSI Commercial, and Development Solutions. By consolidating all aspects and efforts of commercial real estate acquisitions and dispositions, we deliver highly accurate data for the area’s largest homebuilders, developers, landowners, and investors. We specialize in the development, acquisition, and disposition of land and improved properties, with a strong focus on both vacant land and developed homesites and communities. We also offer services that include market research and reporting, permitting, zoning and entitlements, investor relations, legal support and closing coordination, and appraisals. In addition, the team has established relationships with the area’s finest engineering, surveying, environmental and legal consultants, who can tackle any challenge. We have knowledge of the market and a well-established reputation in Southwest Florida, which provides our clients with the ability to capitalize on market information and make informed decisions.
LSICOMPANIES.COM | 239.489.4066 | info@lsicompanies.com
Businesses often gauge success by sales revenue, but success is also measured in smart decisions.
Should I buy or lease a property? What locations in Southwest Florida offer prime visibility? Where is the next hotspot for commercial development?
In real estate, correctly answering these questions can make or break a business. That’s why smart entrepreneurs and investors are collaborating with the trusted, experienced commercial property experts at AJS Realty Group.
AJSrealtygroup.com 239-596-9500
Who we are: Naples first CRE firm (est. 1976), Investment Properties Corporation (IPC) adapts to and proactively navigates the evolving needs of our clients. Services include buyer/seller representation, site selection, leasing, exchanges, consulting, landlord/tenant representation, and development services.
Our market knowledge: fluent and exhaustive. We specialize in identifying and procuring for our clients what others cannot. Half of the property sales we transact are acquired off-market.
Our approach: comprehensive and team-based.
It would be our pleasure to work with you.
Investment Properties Corporation of Naples 3838 Tamiami Trail North, Suite #402 Naples, FL. 34103 (239) 261-3400 | ipcnaples.com
RE/MAX Realty Group opened its doors in 1985, being one of the first RE/MAX franchise in Florida. Based in Fort Myers, RE/MAX Realty Group is one of the area’s most successful full-service real estate firms. Consistently winning awards both within the RE/MAX system and in the local marketplace.
RE/MAX Realty Group opened its doors in 1985, being the first RE/MAX franchise in Florida. Based in Fort Myers, RE/MAX Realty Group is one of the area’s most successful full-service real estate firms. Consistently winning awards both within the RE/MAX system and in the local marketplace.
RE/MAX Realty Group has both a Commercial and Residential division, consisting of 130+ agents and continues to grow. The Commercial division consistently ranks top in Florida and has closed billions of dollars in real estate. RE/MAX Realty Group has 6 agents with the NAR highest designation of CCIM (Certified Commercial Investment Member.)
RE/MAX Realty Group has both a Commercial and Residential Division, consisting of 120+ agents and continues to grow. The Commercial Division consistently ranks top in Florida and has closed billions of dollars in real estate. RE/MAX Realty Group has 6 agents with the NAR highest designation of CCIM (Certified Commercial Investment Member).
The RE/MAX brand has stood for excellence for years and has a global presence with 140,000+ agents and offices in more than 110 countries.
The RE/MAX brand has stood for excellence for years and has a global presence with 140,000+ agents and office in more than 110 countries.
RE/MAX is #1 in Real Estate brand recognition.
RE/MAX is #1 in Real Estate brand recognition.
7910 Summerlin Lakes Dr. Fort Myers, FL 33907 (239) 489-0444
ftmyerscommercial.com
SUPPORT LOCAL JOURNALISM AND SUBSCRIBE TODAY. naplespress.com
Fifth Third’s Business Banking division plays a critical role in helping its clients through every phase of the business lifecycle. From start up to transition, business bankers are skilled at helping
owners simplify financial decisions, gain access to capital, maximize cash flow, reduce risks, and implement strategies for long-term scalable growth.
Often the greatest risks to a business are those that are unseen. That’s why our business bankers get engrained into their client’s business, serve as thought leaders, and focus on five critical areas of success:
• Business Lifecycle • Risk Mitigation • Financial Management • Workforce Development • Succession Planning
Because one size does not fit all, our trusted advisors will customize and align solutions to fit each client’s unique needs. Additionally, Fifth Third’s One Bank approach ensures industry experts are brought into the fold, when needed, to ensure success every step of the way.
Fifth Third Business Banking is here to help.
Mark D. Ryczek, Senior Vice President, Business Banking Market ExecutiveFrom expansion to reducing the risk of fraud, we know your business requires custom solutions to meet the moments you’re navigating. Fifth Third has industry experts who understand your challenges, and the tools to make your business more efficient.
53.com/Commercial
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This year we’re celebrating our 20th anniversary serving our customers, team members and the Southwest Florida community. Our story started in 2003 as the only locally owned bank charted on Sanibel Islansd serving the residents and businesses of the islands. Fast forward 20 years later, we’re a little bigger with eight locations throughout Southwest Florida, over 100 employees and close to $750 million in total assets.
While we may be a little bigger there are a few things that remain the same as the day we opened our doors. Our foundation is built on people and relationships, setting us apart from others in our industry. Our devotion and love for this community only becomes greater as the years pass as we continue to find purpose in serving those around us.
It’s the SanCap Bank difference. And you can bank on it.
9311 College Parkway Fort Myers, FL 33919 (239) 472-6100 Sancapbank.com
Twenty years goes by quickly when you love what you do, the people working alongside you and the community you serve. We’re celebrating two decades of delivering smart banking and lending solutions to our customers, taking care of our SanCap Bank family and supporting the community who has been so good to us.
We pledge to remain locally owned and operated with the unwavering commitment to our customers, team members and community we’ve had since the day we opened.
You can bank on it.
3401 Tamiami Trail North Naples, FL www.wintrustflorida.com
Community is everything to Leandro Soler. An active community member who works with Naples SCORE, FGCU Small Business Development Center, and others, Leo has direct experience with the unique needs and goals of local businesses. Nothing brings him more satisfaction than helping businesses grow—something he does every day at Wintrust Banking Center.
“To me, community banking is all about being there for our local businesses,” said Soler. “Seeing small businesses start growing is the most rewarding part of our work.”
With a robust selection of products and services, Leo sets customers up for success through tailored lending solutions. Building your own business? Reach out today to see how we can help!
“It’s not about us. It’s always about you,” said Kyle Williamson, local managing principal. “Our purpose and promise are not just company statements. They are the driving force for us to deliver on the CLA experience.”
Established in 1953, CLA is one of the leading professional services firms in the United States experienced in delivering integrated wealth advisory, digital, audit, tax, consulting, and outsourcing services to help clients succeed professionally and personally. With a virtual headquarters, its team-based approach allows CLA to have professionals conveniently located in communities across the country.
CLA’s 90 southwest Florida team members bring deep industry experience, expanded services, and a focus on serving private businesses and their owners. Backed by the knowledge of 8,500 team members across the United States, we work
together as one CLA family to create opportunities —no silos, no barriers.
“When you choose CLA, you deserve all of CLA and benefit from a cross-functional team,” continued Williamson. “Our goal is to deliver a seamless experience curated to meet your needs.”
It is through our promise to know you and help you on each step of your journey that CLA can provide the right service and capability at the right time.
CLA exists to create opportunities for our clients, our people, and our communities through our industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor. More at CLAconnect.com.
CLA’s purpose is to create opportunities for our clients, our people, and our communities. Our promise is to know you and help you.
Fort Myers Office Naples Office
Grasmeier Business Consulting specializes in assisting foreign investors with their U.S. tax and compliance needs and locally, the firm works with entrepreneurs through the entire lifecycle of a business from start-up to succession planning.
The Team of professional advisors offers a complete range of tax and accounting services and the firm prides itself in being a boutique firm with national and international presence. They develop plans and strategies that are unique and holistic for each client.
Grasmeier Business Consulting was founded in 2009 by Marie Grasmeier. She is a Certified Public Accountant, Certified Management Accountant, Certified Global Management Accountant, Registered Trust and Estate Practitioner and member of the American Institute of CPAs, The Florida Institute of CPAs, The Institute of Management Accountants, STEP International and International Advisory Experts.
Marie is also a contributing author to the Amazon Best selling book “Wealth for Women: Conversations with the Team that Creates the Dream – the Top Female Professionals Who can help You Get Wealthy in Real Estate”.
Marie is one of Gulfshore Business Magazine’s inaugural ten Women in Business honorees and was featured in the 2022 Women Visionaries by Gulfshore Life Magazine
Grasmeier Business Consulting (239) 450-2105 marie@mariecpa.com www.mariecpa.com
HBK is a multidisciplinary financial services firm serving Southwest Florida through offices in Naples, Fort Myers and Sarasota. We offer the collective intelligence of our hundreds of professionals locally and nationally collaborating to deliver holistic financial solutions: a wide range of tax, accounting, audit, business advisory, valuation, financial planning, and wealth management services in support of our clients’ business and personal financial well-being.
HBK Solutions groups consist of dedicated specialists in several industries, including construction, manufacturing, healthcare, cannabis, and nonprofits. We provide support on key issues including cybersecurity and managed services for small and mid-sized businesses.
Today’s business decisions determine tomorrow’s results. That’s why we focus on planning – implementing objectives and measures that go beyond numbers.
HBK is more than 600 professionals, experts in a wide range of financial services, working closely to improve the performance and productivity of our clients’ businesses, working together with our clients to determine where they want to go and how they’ll get there.
Together with you, every step of the way. hbkcpa.com
Markham Norton Mosteller Wright & Co., P.A. is a public accounting & consulting firm in Fort Myers & Naples, serving Southwest Florida for 40+ years. Many know that we offer the traditional services in personal, business tax and accounting services. However, our professionals also provide general business consulting, construction business consulting, medical or dental practice consulting, IT consulting, not-forprofit services, family mediation services, forensic accounting, litigation support, and elder services. We have built a team of experts that can assist our clients with traditional tax and accounting services and all the aforementioned consulting services. We can indeed be your one-stop shop; call us today for more information at (239) 4335554 or visit www.Markham-Norton.com.
EisnerAmper has a long track record of helping clients successfully transform their companies, build capital, innovate their processes, mitigate risk and connect with professionals who can help take their businesses to the next level.
Solutions are tailored to your industry, size and geography. So, whether you’re a manufacturer, a professional services firm, a nonprofit, a tech company, or any growth-oriented business, let EisnerAmper be part of your solution. EisnerAmper.com/SOLUTION-FL
Our experienced, local lenders are ready to help finance your next project. Call Pat Miller (239) 919-1362 to get started.
we care about your community, because it’s our community too.
It’s been four months since Hurricane Ian struck Southwest Florida. Most Collier County hotels are back to full operation, although the process of recovery has been frustrating.
“I don’t want to give [the storm] the benefit of saying its name,” says Collier County Tourism Director Paul Biernes, adding that after Sept. 28, “… it was really difficult to see a lot of the hotels that were struggling to get back online.”
Biernes reported just under 90% of county hotel room inventory is open for visitors. The remaining rooms are mainly part of LaPlaya Beach & Golf Resort and The Ritz-Carlton, Naples on Vanderbilt Beach, both of which sustained major damage from Ian.
“LaPlaya is working diligently to open and there’s a lot of behind the scenes there, but we’re expecting some good news shortly on that one,” he says. “The Ritz is actually one that will take a little bit of time. [From] what we’re hearing, let’s just call it
The Small Business Administration is operating a center near The Naples Players to help area businesses recovering from Hurricane Ian. More than $1 billion in funds was approved in the state, with Collier receiving $53 million.
spring—but that is a significant number of rooms.”
According to a monthly lodging study by Downs & St. Germain Research, hotel occupancy was at just over 70% in November, an almost 15% increase compared to November 2021. “It’s partially due to our normal leisure visitors, but we also have a lot of displaced people due to the storm or people helping recover from the storm,” Joseph St. Germain says.
Although overall occupancy was up, total visitors are down more than 10% compared to last year. This is due to more cases of individual contractors taking up entire rooms for a longer amount of time while performing storm repairs, rather than larger parties staying for a shorter duration.
Despite lodging fewer visitors, hotel stays brought $2.5 billion to the county so far this year. At this time in 2021, the economic impact was $2.24 billion, an almost 15% difference.
As snowbirds and tourists return to the area, beach accesses are beginning to open. So far, Collier County has opened seven beach access points. However, the parks and recreation department said beach cleanup is still in progress for those areas.
“You can access the beaches, but we will need a little more assistance with [the beach cleaning]. Currently, we’re getting the beaches cleaned twice a day; probably need to go up to three,” says Olema Edwards, interim parks and recreation director.
Tourism Development Council member Clark Hill supports funding for another beach cleanup shift.
“The [Tourism Development Council] in the past has supported that effort with resources. I think this board would be open to that ask if the need is there,” Hill says.
For area businesses recovering from Ian, the Small Business Administration is still operating a disaster assistance center downtown near The Naples Players. The SBA approved more than $1 billion in funds in the state, with $53 million of that going to Collier County homeowners and businesses. The application deadline was extended to Jan. 12.
SBA Public Affairs Specialist Tauheedah Mateen says, “It’s very imperative that those small businesses get back in order, as well, and understand that there are tools here to help them recover.”
The Florida Legislature used a special session in mid-December to pass what analysts say is the largest property insurance reform package in Florida history.
The latest reforms, which add $1 billion in reinsurance for struggling Florida carriers and rein in roofing companies, add to protections the Legislature created during a May special session. Although homeowners are likely to find it more difficult to obtain property insurance in the state-backed Citizens Property Insurance Corporation, the new laws also streamline insurance inspections and claims.
Even before the five-day special session began, lawmakers introduced HB 1A and SB 2A, which are intended to halt once and for all the ability of roofing companies and other contractors to bill insurance companies for roof repairs. The package of reforms also bans one-way lawyer’s fees, which insurers pay whenever they lose in court
in commercial and residential property insurance disputes.
The new laws are aimed at dishonest roofing companies—not all of them are, of course—who convince homeowners to have their roofs inspected for free. The roofer finds minor damage but tells the homeowner their insurance carrier can be convinced to pay for a new roof. The homeowner then signs an assignment of benefits, or AOB, in effect signing over the insurance policy to the contractor.
When the insurance company disputes the claim, the roofer, armed with the homeowner’s AOB, sics a lawyer on the insurance company. If the insurance company loses in court, it pays the company for the new roof and the plaintiff’s lawyer’s fee. The lawyer often adds a fee multiplier that can double, or triple, the award the roofer receives.
“One-way attorney fees and AOBs lead to excessive levels of frivolous litigation,” says Mark Friedlander, Flor-
ida analyst for the Insurance Information Institute. “Eliminating both is necessary to slow down the mass volume of lawsuits being filed against Florida insurers.”
The Legislature’s new Florida Optional Reinsurance Assistance program adds $1 billion to the $2 billion Reinsurance to Assist Policyholders program the Legislature created during its May special session. The plan requires carriers to reduce policyholder rates.
Like other property insurance analysts, Friedlander believes the private home insurance market in Florida is on a trajectory toward total collapse. Florida homeowners file more property damage claims than any other state in the union, according to the Insurance Information Institute.
“Six Florida residential insurers were litigated out of business in 2022 and a seventh company, United Property and Casualty Insurance, is shutting down this spring, primarily
because of litigation costs,” Friedlander says. “More than two dozen Florida insurers remain on the insurance regulator’s financial watch list.” (See “Attempts to fix Florida’s failing property insurance market,” published December 2022, at gulfshorebusiness.com.)
SB-4A, also passed mid-December, provides tax relief to owners of the more than 17,000 homes in Fort Myers, Sanibel Island, Estero and elsewhere in Lee County that were destroyed or damaged during Hurricanes Ian and Nicole. The law allows homeowners to apply for property tax refunds if the storms made their home unlivable for at least 30 days. Tax reimbursements would be based on the value of the home and how long it was uninhabitable.
Property owners also benefit from new rules that require insurers to re-
view and acknowledge claim communication and to begin investigations within seven days, instead of two weeks, as well as reducing the time insurers have to inspect damage from 45 days to 30 days. The state also can strip insurance companies of their certificates if they practice unfair trade practices with appraisals. However, it won’t be as easy for homeowners to turn to the state-run Citizens Property Insurance Corporation, or CPIC, under the new rules. Lawmakers believe too many homeowners flock there when they don’t have to.
According to CPIC spokesman Michael Peltier, the state-run fund doesn’t have enough reinsurance coverage to meet risks posed by hurricanes, hail storms and other threats to property. So the new law enacts new requirements for those renewing coverage through Citizens Property
Insurance Corporation, the statebacked insurer of last resort.
“In addition to requiring Citizens’ policyholders to accept a private market insurance policy if it is no more than 20% higher than the cost of a Citizens policy,” Friedlander says, consumers also will be required to carry flood insurance if they maintain windstorm coverage with Citizens.
The Legislature knows Florida is an expensive place to be a property insurer, so it will likely create more reforms in the future. Nevertheless, this latest special session should go a significant way to fixing things. “This is the strongest insurance reform package we have ever seen passed in Florida,” Friedlander says. “It shows our new legislative leaders understand the enormity of Florida’s property insurance crisis and are initiating decisive actions to create a path toward stability of the market.”
The Legislature’s new Florida Optional Reinsurance Assistance program adds $1 billion to the $2 billion Reinsurance to Assist Policyholders program. The plan requires carriers to reduce policyholder rates.
Toll Bros. Inc. purchased 10 acres of vacant land at County Barn Road in East Naples from Mary A. Armbruster Revocable Trust for $1,662,121. Rob Carroll, CCIM, MAI, and David J. Stevens, CCIM, of Investment Properties Corp. represented the buyer and seller.
Horizon Equities purchased six buildings totaling 70,000 square feet of warehouse, showroom and office space at 4599-4607 Fowler St. in Fort Myers from Fowler Street Development LLC for $7.2 million. David Jennings of Alliance Realty Group represented the buyer and seller.
By Adam Regan Brian Tietz
WestSide 2 LLC purchased a 35,387-square-foot freestanding building on 4.39 acres in Alico Trade Center, 8951 Alico Trade Center Road, Lot 3, in Fort Myers from Seagate Alico North LLC for $6 million. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, Jerry Messonnier, SIOR, and Adam Bornhorst of Lee & Associates Naples-Fort Myers represented the seller, and Douglas Coller of Coldwell Banker Commercial NRT represented the buyer.
P&B LLC purchased 8.03 acres in Alico Trade Center, 8950 Alico Trace Center Road, lots 1 and 2, in Fort Myers from Seagate Alico North LLC for $2,834,449. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, and Jerry Messonnier, SIOR, of Lee & Associates Naples-Fort Myers represented the buyer and seller.
Educational Pathways Inc. purchased 22,312 square feet of office space at 23601 North Commons Drive in Bonita Springs from Beit Sefer LLC for $6 million. Christine McManus, CCIM, SIOR, of Investment Properties Corp.
Diamond Cut Autos & Detail LLC purchased 3405-3421 Fowler St. in Fort Myers from 3405 Fowler Inc. for $1.75 million. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield Commercial Property Southwest Florida represented the seller.
The
purchased a 1.7-acre commercial property at 1211 Seaboard St. in Fort Myers from Ovid Development LLC for $850,000. Justin Thibaut, CCIM, and Hunter Ward, CCIM, of LSI Companies Inc. represented the seller, and South Florida Realty Advisors represented the buyer.
Lennar Homes LLC purchased a 4.79-acre residential property at 12211 Blasingim Road in Fort Myers from Mark Freeman Revocable Living Trust Agreement for $700,000. Justin Thibaut, CCIM, of LSI Companies Inc. represented the buyer and seller.
St. Matthew’s House
Thrift Store leased 8,000 square feet at 3601 Tamiami Trail N., Unit 1, in Naples from Musca Properties LLC. Andrew Saluan of AJS Realty represented the lessor.
Gargiulo Education Center Inc. leased 2,245 square feet of office space in Rail Head Commerce Park, 1414 Rail Head Blvd., in North Naples from Old 41 Flex LLC. Randal Mercer of CRE Consultants represented the lessor and lessee.
Allied Metrics O-Rings & Seals Inc. leased 1,620 square feet of office space at 14700 Tamiami Trail N., Suite 12, in North Naples from Aces of Naples LLC. Clint L. Sherwood, CCIM, and Lauren A. Griswold of Investment Properties Corp. represented the lessor and lessee.
VTS Travel Enterprises Inc./Hurley Travel Experts Inc. dba Direct Travel leased 1,602 square feet of office space at 4501 Tamiami Trail N., Suite 420, in Naples from FLP 4501. Rob Carroll, CCIM, MAI, of Investment Properties Corp. represented the lessor and lessee.
East West Sports Cards & Collectibles leased a 4,000-square-foot office space at 6634 Willow Park Drive, Suite 200, in North Naples from Karate Center Building LLC. Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants represented the lessor, and Brittany Thornton of Coldwell Banker Commercial represented the lessee.
Aviano Ventures LLC leased 2,134 square feet of office space at 4501 Tamiami Trail N., Suite 206, in Naples from FLP 4501 LLC. Clint L. Sherwood, CCIM, and Rob Carroll, CCIM, MAI, of Investment Properties Corp. represented the lessor and lessee.
Humanity of Lee and Hendry Counties Inc. leased a 21,564-square-foot professional office at 12751 New Brittany Blvd. in Fort Myers from Truist Bank. Hunter Ward, CCIM, of LSI Companies Inc. represented the lessee, and CBRE Inc. and Trinity Commercial Group represented the lessor.
Suite Leasing LLC leased a 5,381-square-foot space in Mission Square West, 1485 Pine Ridge Road, Suite 3, in North Naples from KLCRT LLC. Bill Young and Biagio Bernardo of Lee & Associates Naples-Fort Myers represented the lessor and lessee.
Covenant Metabolic Specialists LLC leased 7,580 square feet of office space in Renaissance Center, 9530 Marketplace Road, suites 105 and 108, in Fort Myers from Brookwood SFL I LLC. Randal Mercer of CRE Consultants represented the lessor, and Susan Goldstein of MSC Commercial and Robyn Farnsworth of MVP Realty represented the lessee.
The Center of Being LLC leased 1,380 square feet of office space at 671 Goodlette-Frank Road N., Suite 140, in Naples from CL Naples I LLC. Clint L. Sherwood, CCIM, of Investment Properties Corp. represented the lessor and lessee.
Matthew A. Linde P.A. dba Linde Law Group leased 1,106 square feet of office space at 3001 Tamiami Trail N., Suite 204, in Naples from Collier Place Holdings LLC. Patrick Fraley, CCIM, of Investment Properties Corp. represented the lessor and lessee.
Dealer Tire LLC leased a 29,061-square-foot space in Suncoast Commerce Center IV, 9359 Laredo Ave., Suite 150, in Fort Myers from EastGroup Properties L.P. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, and Jerry Messonnier, SIOR, of Lee & Associates NaplesFort Myers represented the lessor and lessee.
Property Southwest Florida represented the sublessor.
State Farm Mutual Automobile Insurance Co. subleased 20,000 square feet of office space at 12651 Gateway Blvd., second floor, in Fort Myers from Gartner Inc. Gary Tasman and Gretchen Smith of Cushman & Wakefield Commercial
City Electric Supply Co. leased a 9,537-squarefoot space in Billy Creek Commerce Center, 5719 Corporation Circle, Unit 2, in Fort Myers from Rogan Amalgamation LLC. Derek Bornhorst, SIOR, CCIM, Bob Johnston, SIOR, Jerry Messonnier, SIOR, and Adam Bornhorst of Lee & Associates Naples-Fort Myers represented the lessor, and Bob White, CCIM, of Bob White Inc. and Emanuele DiMare of Emansland Real Estate Group represented the lessee.
OVAT Solutions LLC leased a 5,200-square-foot industrial space at 905 SE Ninth Terrace, Unit A, in Cape Coral from R&R Engineering Properties. Stan Stouder, CCIM, of CRE Consultants and Phil Deems of Phil Deems Realty represented the lessor and lessee.
Flawless Forever LLC leased a 3,708-squarefoot retail space in Bonita Commons Shopping Center, 25987 S. Tamiami Trail, Unit 103, in Bonita Springs from Smizer Properties LLC. Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants represented the lessor and lessee.
The 2023 Purosangue breaks into a new market
By James RaiaThe idea of a supercar presented as a sport utility vehicle was preposterous—until a few years ago. But sales were so high, not even niche high-end manufacturers could ignore the consumer shift away from sedans to more versatile people haulers. Welcome Ferrari to the once-unthinkable corps of prestigious carmakers clamoring for a utility market share.
Joining the Aston Martin DBX, Bentley Bentayga, Lamborghini Urus, Porsche Cayenne and Rolls-Royce Cullinan, the 2023 Ferrari Purosangue is expected to debut in July. It’s a rare double for the Italian carmaker: a new model and its first SUV. Introduced last September, the most controversial vehicle in Ferrari history, delayed for more than two years because of COVID-19, will further add to the ever-expanding saturation of SUVs crowding highways.
But what exactly would Enzo Ferrari, the brand’s namesake founder who died in 1988, have to say about a Ferrari for wealthy soccer moms and with one of the worst car names in history? Less shocking but also formerly non-Ferrari-like, what’s with the four doors and four seats?
Considering his competitive nature, the founding Ferrari might have come around to an SUV. But what about the vehicle’s name? It’s pronounced with four syllables, “PUR-o-SAN-gue,” with the first and third syllables emphasized. An offshoot of Puro Sangue Orientale, the car’s name is Italian for Oriental Purebred, a specialized horse breed introduced in the late 1800s. That’s in keeping with thematic tradition for the manufacturer whose insignia since 1932 is often referred to as the “Prancing Pony,” but it also joins a legion of dubious names alongside its brand mate Ferrari LaFerrari, the Volkswagen Tiguan and oddballs such as the Peugeot Bipper Tipee Outdoor and the Toyota Deliboy.
Acceleration: 0-100 km (62 mph), 3.3 seconds
Airbags: 10 Fuel economy: 13 mpg city, 17 mpg hwy (speculated)
Horsepower: 715
Manufacturer’s
Suggested Retail Price: $400,000 (anticipated)
Manufacturer’s website: ferrari.com
Warranty: Bumper to bumper, 3 years/unlimited mileage; Powertrain, 3 years/ unlimited mileage; Maintenance, 7 years/ unlimited mileage; Roadside Assistance, 3 years/ unlimited mileage
According to the manufacturer, the Purosangue will be made with the same platform as the Ferrari Roma coupe. It will be equipped with a 6.5-liter V12. The carmaker is promoting the top speed of the all-wheel-drive-only crossover as 193 mph.
Unique is the use of the electric motor system to apply the dampers while cornering and curtailing body roll. It also has front-opening “suicide” rear doors.
Unlike other manufacturers that tout vehicles with five-passenger capacity, the new Ferrari can’t fudge. All
four seats are bucket-style. Most of the car’s controls are operated through the steering wheel, revealing an odd look. There’s no center-mounted infotainment touchscreen. But the front seat passenger has access to only a 10.2inch digital gauge cluster and samesize screen. Apple CarPlay and Android Auto are standard, but an in-dash navigation system is absent.
The Purosangue also comes standard with automated emergency braking, blind-spot monitoring, automatic high-beam headlamps, adaptive cruise
control, lane-departure warning and lane-keep assistance. A darkening fulllength glass roof is optional.
Ferrari interiors are top-line. The hand-stitched front seats have a massage feature, while the front and back seats are heated. A concert-mimicking Burmester 3D High-End Surround Sound System is unequaled.
It’s all part of Ferrari’s SUV future. Will the Purosangue succeed? Or will it fail as an overthought SUV with a hefty price, a funky name and only a few buyers who care about purebred horses on wheels?
The bicycle built for two is believed to be more than 150 years old. Its genesis involves passion, a pastor and an underage bride. The rest of the details are sketchy but are preserved in a poem and a song titled “Daisy Bell,” first recorded in 1892. The tale, perhaps embellished, is linked to an entrepreneur in love who rigged a humble, simply configured bicycle with an extra seat. The bike maker pedaled his pending bride across a Southern state border and found a parson who agreed to preside over the marriage vows.
Much has occurred since the development of one bicycle for multi-person use. In conjunction with the expanding interest in electric bikes with pedal assistance, cargo bikes, in various configurations, have gained popularity. With or without electric assistance and some achieving 28 mph, e-bikes are attracting cyclists who may have never considered the activity before.
The cargo bike niche is still one electric bike, but it’s expanded with front, side or rear compartments to carry groceries, children, family pets and cargo ranging from stand-up paddle boards to construction equipment. Cargo bikes mostly have two front wheels and one rear wheel.
“Florida and Southern California are the parts of the country where people buy bikes from March through
November,” says Aaron Powell, founder of Bunch Bikes (bunchbike.com), a direct-to-customer business headquartered in Denton, Texas. It has shipped bikes to customers throughout Florida, including Naples and Fort Myers.
Beyond utilitarian traits and family-time benefits, electric cargo bikes give cyclists freedom from worrying much about technology or coordination restrictions. Less experienced enthusiasts or newbies concerned about balance need not fret: Front-loaded cargo bikes are steady, while a traditional two-wheel bike can easily fall with added weight. Cargo bikes’ cargo weight limits vary, with 250-350 pounds as a common maximum, and a quality electric cargo bike may have as much as a 50mile range before the bike’s battery needs recharging.
Like traditional solo bikes and bicycles built for two (now primarily called tandems), cargo bikes have various levels of quality. Inexpensive, less carefully constructed versions can cost as little as $1,500. Quality manufacturers’ machines can approach $10,000.
“There’s nothing that the passengers have to do,” says Powell, who started his business after experiencing cargo bikes during a family vacation in Sweden. “Our bikes are primarily designed for children up through mid-elementary school age. But there are some differences between riding a bicycle, which almost everyone knows how to do,
and a tricycle. Mainly, it’s on turns. You can’t lean into a turn the same way because the wheels are balanced between three wheels. You just have to take turns slowly.”
Many cycling retail stores don’t carry cargo bikes, although there are exceptions. National and international customer director sales through a manufacturer or third-party online retailer are more common.
“Most people just want something that gets them outside and offsets their second car,” says Jordan Chase of Blue Heron Bikes in Berkeley, California—a retail location that sells numerous cargo bike brands, including Tern, Urban Arrow and Yuba. “There’s
a pretty strong push among families to sort of replace the second car. The bikes we sell are pedal assist.”
Ferla Family Cargo Bikes (ferlafamilybikes.com) another California-based brand, makes nearly a dozen cargo bike styles, primarily also geared toward families. In Ferla’s ambassador program, cargo bike enthusiasts from different user groups can ride one of the company’s bikes that feature large bulbous wooden front baskets. In exchange, an ambassador promotes the brand while writing about their riding experiences. Ferla ambassadors are located throughout the country, including in Miami Beach and Winter Park.
“Ferla Bikes provides people an opportunity to launch a whole company for the same price that usually only covers a month of renting a brick-andmortar location,” says Feras Bashnak, the company’s CEO and a former mobile caterer. “My main goal was to create a miscellaneous product that could be used to sell anything that could be turned into a mobile business.”
Bashnak’s forte may be cargo bikes used as roving small businesses. Individuals can rent or buy bespoke creations as pedaling entrepreneurs who want to sell coffee to ice cream and books to flowers. But like others, he’s also in the business of catering to families together and on the move.
Cargo bikes are expanded with front, side or rear compartments to carry groceries, children, family pets and cargo. They can even be turned into an entrepreneur’s mobile business.
powerful, portable Airmoto pump
By James RaiaThe Airmoto can’t help fix a flat beer or a collapsed soufflé—but it can help lots of stuff needing infla tion, and it does so in a powerful, portable fashion.
At 6 inches long and 18 ounces, the Airmoto air pump is easy to store in a pocket, backpack or car. With 120 PSI output, it’s a convenient answer for the always inconvenient occurrence of a roadside, backyard or recreation emergency.
Compatible with most tires, the Airmoto includes an air hose, a needle connector and a bike connec tor. A versatile general connector fits cars, trucks, motorcycles, bicycles, ATVs, sports equipment and paddleboards.
The charging cable is a USB-C type; the recharge able battery has a capacity of up to 2,000 milliam pere hours. It’s fully charged after two hours and ready for 40 minutes of use, and will stay charged for as long as four months. Precise air pressure is shown with a digital display. There’s an automatic shut-off to conserve energy, as well as a built-in LED flashlight for low-light needs.
Calling a tow truck may become obsolete; hopefully, the Airmoto will also help eliminate oddhour visits to gas stations in unfamiliar locales.
Originally constructed in northern Spain, the monastery of St. Bernard de Clairvaux was taken apart and shipped to the United States, where it finally was put back together in Miami.
By Artis Henderson Getty
The state of Florida has no shortage of options when it comes to weekend fun, but few hold a candle to the cloisters of the monastery of St. Bernard de Clairvaux in the heart of North Miami. With its strange history, its lushly planted gardens and its feel of medieval Europe, the Ancient Spanish Monastery (16711 West Dixie Highway, North Miami Beach; 305.945.1461; spanishmonastery.com) offers a prime getaway.
containers. Agents broke open the boxes and burned the hay inside. When they repacked the containers, many of the stones didn’t make it into their original numbered boxes. That was the least of the problems for the disassembled monastery. Hearst was on the verge of financial ruin, and his projects for the Spanish cloister soon fell by the wayside. The stones sat in a warehouse in New York City for the next 25 years. When Hearst died in 1951, the monastery was auctioned off to a pair of Ohio businessmen. The businessmen brought the stones to Miami, where they had them reassembled as a tourist attraction. The project cost more than a million dollars and was called “the world’s biggest jigsaw puzzle.”
Construction on the monastery of St. Bernard de Clairvaux began in northern Spain in the early 12th century. The monastery and its cloisters were home to an order of Cistercian monks who lived on the grounds for 700 years. But revolution in the 1800s sent the monks packing, and the one-time holy place became a stable for horses. The horses remained its sole occupants until 1925 when William Randolph Hearst—American media mogul and businessman—purchased the cloisters and some of the buildings tied to the monastery. Hearst paid to have the structures disassembled, and each stone was packed in hay and placed in a numbered shipping container. The containers were sent to the United States, but they arrived at a bad time. Hoof and mouth disease had broken out in northern Spain, and the U.S. Department of Agriculture seized the shipping
The Spanish monastery was short-lived as a tourist attraction, and it was eventually sold to a wealthy benefactor, who donated the buildings to the Episcopal Diocese. Today it lives on as the Church of St. Bernard de Clairvaux and holds regular services in both English and Spanish.
St. Bernard de Clairvaux started as a monastery, then became horse stables and then was disassembled and placed in shipping containers for 25 years before serving as a church today ... a continent away.
The buildings and cloister of the medieval monastery are remarkable. Don’t miss the stone finials atop the columns inside the cloister—each was hand-carved by medieval artisans, and no two are alike. The vaulted stone ceilings of the Chapter House are equally impressive. Be sure to leave time to stroll the monastery’s lushly manicured grounds.
The Spanish Monastery is closed on Mondays and Tuesdays, and the visiting schedule varies depending on the private events being held there. The calendar on its website is mostly up to date, but it’s best to call ahead to confirm.
The history of an unlikely local friendship
By Justin PaprockiIt was an unlikely friendship—but it was one that blossomed in the Everglades. Born in 1837, John Burroughs was a prolific nature writer, who just so happened to hate the Model T with its loud, clanking machinery. Henry Ford was a fan of Burroughs’ writing, and felt the automobile could actually be a way to enable quick escapes into nature. So as a way to sway Burroughs, he sent him a gift: a Model T itself. It worked, as Burroughs became enamored with the vehicle.
Ford and Thomas Edison had homes in Fort Myers (now preserved as the Edison and Ford Winter Estates) and invited Burroughs to visit in 1914. They explored the Everglades via the Model T.
The trip was a hit, and the group started taking regular road trips around the country along with tire magnate Harvey Firestone. They called themselves the Vagabonds, and they ventured to the Great Smoky Mountains, the California coast and other remote areas of the country. They may not have been roughing it in the truest sense—they often traveled with a cadre of support staff to prepare meals, set up camp and help film the expeditions—but the Vagabonds looked forward to their annual adventures as a means to disconnect. “We react against our complex civilization,” Burroughs wrote in his essay “A Strenuous Holiday.” “We cheerfully endure wet, cold, smoke, mosquitoes, black flies, and sleepless nights, just to touch naked reality once more.”
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