August 2023 Southwest Florida Business Today

SWFL CRE, CONSTRUCTION & DEVELOPMENT

A look at commercial real estate & construction updates in Southwest Florida

A view from the beach with Tamara Pigott

Special to SWFBT

Submitted by Karen P.

Moore, Publisher

Focus on Business Services

Our Trade Show in Print and Online gives you the opportunity to “meet” local businesses that provide products and services to make your business more successful.

CRE Construction & Development

SPECIAL THIS ISSUE

A collection of information to help you navigate Southwest Florida’s CRE, Building and Development marketplace.

Post-Ian, it’s been and will continue to be a challenging time for the hospitality industry and for our Southwest Florida community, particularly the restaurants, according to Lee County Visitors & Convention Bureau Executive Director Tamara Pigott. She recently spoke to the local chapter of the Florida Restaurant and Lodging Association regarding the Hurricane Ian recovery. Without the hotels that Southwest Florida normally has on the coast full of guests, it’s challenging for the restaurants to function, she remarked.

Pigott noted that normally, nearly 5 million people come

to visit Lee County each year, and that drives the local economy. In 2022, the total spent was $4 billion. She pointed out, the region is missing those big spenders in our community this year—and that’s a big challenge.

She shared, “I do have some good news today though. As you know, we’ve been tracking re-openings of hotels. We are at 70% and we are only nine short of 10,000 hotel rooms. So that’s good news.

“But the reason people get on a plane and fly here from all around the world is to go to that beautiful beach and that’s the truth. And so it’s going to be a challenge until we have more hotel rooms on the white sandy beach.”

BEACH See page 12

MILITARY VETERAN ENTREPRENEURS PANEL Charlotte County wins top state economic development award

SWFL CRE, CONSTRUCTION & DEVELOPMENT

A look at commercial real estate & construction updates in Southwest

Charlotte County is the overall winner in the recent annual Florida Economic Development Council Awards, taking home the Melissa Medley Creativity Award for the county’s team response to Hurricane Ian. This recognition, known as a “best in show” award, represents achievement across the state’s economic development for cities and counties.

IN THE NEWS

DeSantis awards more than $247M through the broadband program

Gov. Ron DeSantis awarded more than $247 million through the Broadband Infrastructure Program, connecting more than 59,000 unserved and underserved businesses, homes, farms and anchor institutions like hospitals and libraries to highspeed Internet.

Infrastructure deployment through 63 strategic projects in 43

Local veterans hear from veterans who completed a FGCU Veterans Entrepreneurship Program, offered to both start-up and existing businesses. Panelists shared their business experiences and best advice. Some panelists also received grant funding. Above: Moderator Wes Sprecher (l) talks with Marine veteran Larry Lathrop, owner of Bold Brush, which represents a new enthusiasm for airbrush artworks. Left: Dr. Sandra Kauanui, FGCU School of Entrepreneurship, talks about the importance of helping veterans pivot from service to building businesses in Southwest Florida. Below: Army veteran Alonzo McKenzie accepts a check for his lawn service business from Program Coordinator Stormie Pruskauer.

“To be judged by our peers in economic development and come away with this award is a tremendous recognition of the job countywide that was done on behalf of all our businesses in the aftermath of Hurricane Ian. It is an honor that reflects well on every department that helped make Charlotte County’s recovery efforts as quickly and efficiently as possible,” stated Kay Tracy, Business Recruitment Manager of Charlotte County’s Economic Development team.

On top of the grand prize, Charlotte County also won two additional trophies.

The county won the Innovation in Marketing award for its PCS to Charlotte County campaign, encouraging veterans and active military families transitioning from the military to choose Charlotte County as their “Permanent Change of Station.” Amanda Benton, redevelopment coordinator, said, “The military veterans are a highly trained workforce. Their caliber in integrity and ethics is a perfect asset to the growing business sector here within Charlotte County.”

AWARD See page 2

IMPORTANT BUSINESS NOTES

Florida counties ensures that Florida residents have reliable and efficient access to workforce, education and health monitoring opportunities for generations to come.

“High-speed broadband Internet is vital infrastructure for Florida communities and is fundamental for generating economic development activity and sustaining a talented labor force,” DeSantis said. “Florida is

INTERNET See page 15

 SWFBT News Update

To get current business news throughout the business day, visit www.swfloridabusinesstoday.com.

 Moore About Business

Kick off your business week with “Moore About Business”! Tune in to SWFL PBS and National Public Radio (NPR) affiliate, WGCU radio at 90.1 FM, during Morning Edition and All Things Considered to hear SWFBT founder, owner and publisher Karen P. Moore share

information and insights for and about our local business community. Listen to past segments at https://news.wgcu.org/tags/ moore-about-business

 Here’s what our clients have to say:

“I’ve advertised in Southwest Florida Business Today for the past 15 years. It is the most affordable way to reach the local business community. And everyone should take advantage of the free guest column opportunity!” — Randy Krise, Owner, Krise Commercial Real Estate, 15-Year Advertiser

Business visionaries invest in Lee County’s workforce and future

Just drive through Lee County and it’s evident by the bustling construction, new buildings opening and increased traffic that the area is booming and statistics overwhelmingly support that conclusion.

According to the U.S. Census Bureau and U.S. Bureau of Labor Statistics, Lee County’s population has grown by 3.3% annually and is currently estimated at 802,178. On average, there are 90 new residents moving to Lee County every day. Business growth continues as well, with approximately 43,000 businesses now operating in Lee County. Job growth is up 5% over last year and Lee County has enjoyed explosive growth in every business sector, including health care, life sciences, logistics, manufacturing and technology. In fact, Lee County is the fifth-most economically diverse county in Florida, according to Florida Atlantic University.

To continue this successful track, a thriving Lee County business climate is dependent upon support from community partners as well as the private sector. As members of the Horizon Foundation, local business “visionaries” commit financially to Lee County’s economic future.

The nonprofit Horizon Foundation privately funds the Horizon Council, a public-private board that advises Lee County’s Board of County Commissioners and Lee County Economic Development Office on economic development issues. The groups’ mission is to improve the business environment by retaining and encouraging the growth of existing business while also attracting new, di-

versified employers. Known as the “voice of business” in Lee County, this trifecta partnership of the Horizon Council, Horizon Foundation and Lee County Economic Development Office has created a business-friendly environment that continues to attract top talent, new companies and entrepreneurs from around the globe.

including Scotlynn, stepped up to offer micro-credentialing or digital badge courses and guarantee interviews upon completion. These programs are offered through the area’s higher education institutions, including Florida Gulf Coast University, Florida SouthWestern State College and Hodges University, at no cost to students. Micro-credentialing is helping close the gap between skilled workers and employment opportunities in our region.

BY HOLLY D. SMITH Guest Columnist

Given the growth we’re experiencing, one of the greatest areas of focus for businesses in Lee County has been workforce development. Since 2010, Lee County averaged 10,000 to 15,000 new jobs a year. In 2020, there were 20,000 new jobs added to the local economy. The momentum continued after Hurricane Ian, too, with Lee County adding 18,800 jobs in the six months following the storm. Currently, Lee County has approximately 20,000 job openings, but only 8,000 job hunters. We are encouraged by several new initiatives, including micro-credentialing, which is aimed at helping students and employees learn or advance their skills for employment and growth opportunities.

After the Lee County Economic Development office gave a $1 million grant to cover the cost of micro-credential courses for Lee County residents, funding that was provided by the American Rescue Plan Act, several Horizon Foundation investors,

BUSINESS SERVICES

This is just one example of Horizon Foundation members collaborating and demonstrating their support for Lee County’s business community. As Lee County continues to grow, so must the investment in our economic development. Annually, more than 100 business leaders invest through the Horizon Foundation to fund Lee County’s proprietary employment database, a real estate website, site selection and relocation marketing to attract new business, and multiple marketing and business technologies aimed at supporting existing businesses while attracting new ones to the market. In turn, investors receive access to these tools as well as multiple marketing and networking opportunities. More importantly, they have a voice and a role in the economic prosperity of Lee County.

By investing today, business leaders are guaranteeing the success of what’s on the horizon.

Holly D. Smith is President of the Horizon Foundation, a Sanibel City Council Member and the former Mayor of Sanibel. Visit HorizonCouncilFoundation.com/Investors.

“Must-have” financial documents for your business

QUESTION: As a small business owner I need to have a better understanding of my financial statements, especially my cash position at any given time. What do you consider the most important documents?

ANSWER: With all the responsibilities of ownership, running a small business can consume an inordinate amount of time. Making time to manage your financials can be hard, but there are three documents you cannot afford to ignore.

• Balance Sheet – This document is a snapshot of your financial position and shows you if you are in the red or black. It lists your business assets, liabilities and equity. Together, they represent the net worth of your business.

• Profit and Loss Statement –

Your P&L is your income statement. It summarizes your business revenues and expenses during a given period of time and enables you to understand how your revenues and costs impact

AWARD PAGE 1

your profitability.

• Cash Flow Statement – Of the three documents, the Cash Flow Statement is the most useful. You have payroll and other expenses that are due each month. Adequate monthly cash flow is critical if bills are to be paid in a timely manner. Developing a monthly cash flow budget will enable you to determine when these expenses come due.

by these three documents you have no idea where you stand financially and have no basis to work from in making strategic decisions for the growth of your business.

BY GRAY POEHLER Guest Columnist

In summary, your balance sheet and cash flow statement will tell you how much cash you have on hand, how much you owe and the equity you have in the business. Your annual profit and loss statement will indicate if you made a profit or not.

Without the information provided

When you put in the time to assemble and analyze these documents, you are giving yourself the tools to keep your small business on track. Set aside some time each month to review each. This will enable you to create financial goals for the coming months and years.

SCORE provides free templates for these three documents as well as a business plan for both startups and ongoing businesses. They can be accessed at tinyurl.com/2b38dum6.

Gray Poehler is a volunteer with SCORE Naples. Business counseling on this and other business matters is available, without charge, from the Naples Chapter of SCORE. Call (239) 430-0081 or visit naples.score. org/mentors .

Charlotte County’s efforts to help families and businesses rebuild after Hurricane Ian earned them the Pivot and Persist award from the FEDC. Through collaborations with entities across the state, including CareerSource Southwest Florida, the Small Business Administration, Charlotte County Emergency Management, and the United Way of Charlotte County, the Charlotte County EDO navigated crises and persistently supported their community.

Beth Cicchetti, executive director of FEDC, lauded Charlotte County’s efforts.

“The overall team spirit within the entire county to help families and businesses get back in business is an example to all of us in the state of Florida of how a community pulls together in the face of adversity.”

Don’t forget to post your in-person and virtual event on our B2B events calendar at www.swfloridabusinesstoday.com/ calendar

Community Cooperative CEO appointed to Volunteer Florida

Stefanie Ink Edwards, CEO of Community Cooperative, has been appointed by Gov. Ron DeSantis to a three-year term on the Florida Commission on Community Service, also known as Volunteer Florida.

“I’m honored to serve the people of Florida and help make an even greater impact throughout our region and state,” Edwards said. “Florida nonprofits are successful through the work of many, many volunteers, and as organization leaders, we have learned about the collective power of volunteers in everyday service and especially in disasters like Hurricane Ian.”

Community Cooperative established the Lee County Strong Hurricane Relief Fund the day Hurricane Ian made landfall to provide displaced residents and families with food and basic needs, as well as assist hurricane victims with additional resources and long-term recovery assistance.

The fund got the attention of The Joel Foundation, founded by singersongwriter Billy Joel and wife Alexis, which donated $250,000 to the fund and allowed for Community Cooperative to help meet the needs of many families who lost their homes and jobs

due to the hurricane.

Edwards was recognized by DeSantis in 2022 with the Spirit of Community Award by the Florida Commission on the Status of Women for her positive impact and serving as a positive role model for her work with Community Cooperative as well as volunteer work for other organizations, including the PACE Center for Girls Lee County, the American Cancer Society, Girls Going Places, Lee County Continuum of Care Governing Board Member, Lee Health Foundation, Fort Myers High School, Florida Gulf Coast University, Greater Fort Myers Chamber Women in Business, Leadership Lee County, Lee County Planned Giving Council, IMAG Science and History Center, United Way of Lee County and Fort Myers Woman’s Community Club.

Edwards is a graduate of the Lutgert College of Business at Florida Gulf Coast University and received her master’s degree from the University of Florida. She oversees all of Community Cooperative’s operations, fundraising, development and volunteer programs that include 2,500

VOLUNTEER See page 4

BUSINESS SERVICES

Finding funds to expand your business

By Rhonda Macduff Guest Columnist

There are a few ways a business can get equipment, trucks and trailers with ease and also with working capital to help with the unexpected expense of a large order.

Equipment leasing programs are a great way for businesses to acquire the machinery needed to increase production. A fixed monthly payment to meet your budget, which can be 24-, 36-, 48or 60-month terms and you having ownership at the end.

The process is easy, with a one-page application, for up to $500,000 without any financials required. Decisions made the same day usually, and the paperwork is minimal. Within days, completion of the lease is finalized.

New or used equipment for all industries, which would include construction, HVAC, restaurant, industrial and as many others.

Trucks, trailers and vehicles used for business can be leased, new or used, with many options available. And you own at the end of the term.

Benefits to consider equipment leasing include 100% tax deductible terms, low monthly payments (compared to purchase), saving bank lines of credit for future need and preserving your capital.

Working capital is available for immediate cash flow, with a onepage application, no financials and funding within days. Shorter term than leasing, but most companies are approved because of the flexibility of credit. Many in the food industry utilize this process to get quick money.

If the bank has rejected your credit, one of these two programs could be of help to your business. We are located in North Fort Myers.

Rhonda Macduff is the owner of Equities Funding in North Fort Myers. Contact (239) 747-9955.

Subchapter V and the story of Lisa’s Pizza

Under subchapter V, Lisa’s Pizza can elect to have a three-year plan, or a five-year plan. We elect a threeyear plan. This plan will be “confirmable” if Lisa (among other things) devotes its monthly “projected disposable income” to the repayment of her creditors. Note the word “projected” and not “actual.” Lisa must also satisfy her secured creditors by (1) reaffirming their debt, (2) paying the secured creditor the value of their claim in cash, or (3) providing them with the indubitable equivalent of the value of their claim (in English, this typically means surrendering the collateral securing the claim).

Lisa calculates her projected disposable income as follows:

Her monthly revenue fluctuates but it averages to be $100,000. She then subtracts her expenses, which includes not only her own personal wages, but also reasonable contributions to a capital account (a “rainy day” account) for Lisa’s Pizza. The final calculation reveals projected disposable income of $1,000 per month.

The Plan gets filed with the Court. It provides for the following treatment for creditors:

1. The $250,000 secured loan with Nice Bank will be reaffirmed;

2. The $150,000 partially secured loan with Mean Bank will be repaid as follows: Lisa will surrender all the kitchen equipment, chairs and tables from the second location which will equal $25,000; Mean Bank’s $125,000 deficiency claim will be treated as a general unsecured claim.

3. The two general unsecured creditors (Mean Landlord for $240,000 and Mean Bank for $125,000) will be paid, on a pro-rata basis, the $1,000 in projected disposable income each month for 36 months. More spe-

www.swfloridabusinesstoday.com

PUBLISHER

Karen P. Moore

PRINT EDITOR & ASSOCIATE WEB EDITOR

Jacob Ogles

PRODUCTION MANAGER

Jennifer Ogles

PHOTO REVIEWER

Scott Toner

PRINT AD DESIGNER

Jennifer Ogles

DIGITAL MEDIA

Michelle L. Hudson Annelese Johnson

WEBSITE ASSISTANT

Elyssa Morataya

P.O. Box 152299

Cape Coral, FL 33915-2299

News: 239-573-9731

All other: 239-573-9732

News email: editor@swfloridabusinesstoday.com

All other information requests: publisher@ swfloridabusinesstoday.com

The contents of Southwest Florida Business

Today® are copyright 2023 by Southwest Florida Newspapers, Inc. No portion may be reproduced without the express written consent of Southwest Florida Newspapers, Inc. The publication of any advertisement or article does not necessarily reflect the view of the publisher of Southwest Florida Business

Today®. For more information about any article or column appearing in Southwest Florida Business Today®, for advertising rates or subscription information please call 239-573-9732 or email: publisher@ swfloridabusinesstoday.com

OUR MISSION

Southwest Florida Business Today® is to provide the best business-to-business marketplace where business executives operating in Southwest Florida buy and sell goods and services via the exchange of news, advertising and information.

cifically, Mean Bank will receive $342 per month for 36 months for a total of $12,312. Mean Landlord will receive $658 per month for 36 months for a total of $23,688.

Lisa delivers ballots to the Creditors hoping that they will vote in favor of the Plan. Mean Bank and Mean Landlord, of course, both reject the Plan. Now what?

City of Palms Classic enters 50th year in Fort Myers

BY MIKE DAL LAGO Guest Columnist

Under Section 1191(b) of the Bankruptcy Code, the Court will approve the Plan over the objections of Mean Bank and Mean Landlord if “the plan does not discriminate unfairly and is fair and equitable.” In practice this means if Lisa’s Pizza is an honest Debtor and can only afford $1,000 per month, the Court will confirm the Plan. When this happens, Lisa’s Pizza will be deemed a Reorganized Debtor and will continue to operate subject to fulfilling its obligations under the Plan. It has successfully “crammed down” a settlement on Mean Bank and Mean Landlord.

Of course, there is much more detail involved in this process, and perhaps I will write a follow up article to discuss what Lisa, the individual, will need to do about her personal guaranties. But there is one constant theme that has emerged since the enactment of Subchapter V: Mean Bank and Mean Landlord should have taken the $50,000 that was initially offered to them by Lisa’s Pizza.

Mike Dal Lago is the founder and managing partner of Dal Lago Law, a leading Business Law and Business Bankruptcy law firm in Naples, with 22 years of experience in insolvency matters. Contact Mike@dallagolaw. com.

The City of Palms Classic, held annually in Fort Myers, is a basketball tournament that showcases the best high school talent from around the Nation. This prestigious event is entering its 50th Anniversary tournament with more exciting talent than ever. This tournament offers an array of exciting events and highlights for basketball enthusiasts.

One thrilling aspect is the North Law Firm 3-Point Shootout and the Edison National Bank Slam Dunk Contest, where top athletes compete to showcase their sharp shooting and gravitydefying skills. Spectators are left in awe as these young prodigies execute jawdropping dunks that push the boundaries of athleticism.

Moreover, fans can witness intense matchups between powerhouse teams that bring together future college and NBA stars. The tournament’s rich history boasts legendary players like Jayson Tatum, Austin Rivers and Ben Simmons, just to name a few, who have graced its courts before achieving stardom. Additionally, attendees have the opportunity to engage with their favorite players through autographs and meet-and-greets.

The nonprofit organization, Classic Basketball, has been providing this experience for locals and basketball enthusiasts across the nation for 50 years. With the continued support of the SWFL community, this event will be able to provide the entertainment that remains such an integral part of the American basketball culture.

The 50th Anniversary City of Palms Classic tournament will take place December 18-23, 2023, at Suncoast Credit Union Arena located on the campus of Florida Southwestern State College. Visit cityofpalmsclassic.com or @ cityofpalmsclassic.

VOLUNTEER PAGE 3

volunteers with more than 45,000 hours annually.

...is what keeps you and your

Volunteer Florida receives over $25 million in federal and state funding to support efforts to expand national service, promote disaster resiliency and advocate for volunteerism in Florida. The agency is guided by a bipartisan board of Commissioners appointed by the Governor and confirmed by the Florida Senate.

After Hurricane Andrew hit Florida in 1992, Volunteer Florida evolved to serve as the state’s lead agency for mobilizing volunteers and coordinating donations before, during and after disasters. The Volunteer Florida Foundation also manages the Florida Disaster Fund, the official fund for aiding Florida’s communities after disasters.

The commission serves as an advisory board to the Governor and Cabinet, the Legislature and appropriate state agencies and entities on matters relating to volunteerism and community service.

For more business news, visit

Slipaway Food Truck Park & Marina coming to Cape Coral

Construction has commenced for Slipaway Food Truck Park & Marina, anticipated to be a waterfront destination in Cape Coral for family-friendly outdoor fun and entertainment.

Slipaway will be Cape Coral’s first food truck park and marina. It is expected to open in late 2024.

Community leaders, project partners and supporters gathered for a ceremony on June 22 to celebrate the groundbreaking of the new waterfront concept. Situated on 3.1 acres on Cape Coral Parkway at the foot of the Cape Coral Bridge, Slipaway Food Truck Park & Marina in planned as a hot spot for festivals and events, waterside dining and entertainment.

With live music, food and outdoor fun, highlights include space for 10 food trucks, 30 boat slips, 154 seats at the central bar, six shade pavilions with an additional 144 seats, 1,370 feet of pathways and boardwalks and 120 parking spots. Proximity to the Cape Coral Bridge and the Caloosahatchee River, ample parking, boat access, a fuel dock

and ship store will make it easy for guests to come by car or boat.

The concept is led by owners Jeff Miloff, Gary Aubuchon, Scott Fischer, Sandra Dean, John Kulhavi, Chuck McGuirk and Rick McGuirk. Bringing a combined 100 years of

living and working in Cape Coral and Southwest Florida, leadership created a concept that emphasizes features that make the region special. Slipaway’s logo sports a smalltooth sawfish, paying homage to one of the creatures native to the Caloo -

Sprouts opens newest store in Fort Myers

Sprouts Farmers Market opened its newest store on July 21 on College Parkway in Fort Myers.

“We are incredibly excited to have Sprouts Farmers Market here in Lee County,” said Lee County Commissioner Cecil Pendergrass. “In addition to providing fresh, healthy, and specialty foods to our residents, Sprouts also brings hundreds of jobs to our area, playing a vital role in Lee County’s vitality and resiliency as we continue to grow and thrive in the business community.”

A customer appreciation event will be held

on Sept. 16 where guests will be treated to giveaways.

Sprouts Farmers Market works with local farmers like Alderman Farms, Santa Sweets, Wish Farms and others to source produce.

Through Sprouts’ Food Rescue program, this store will donate groceries that are no longer fit for sale but remain perfectly edible and nutrient rich to Harry Chapin Food Bank a local food bank that provides wholesome food to families and individuals at risk of hunger.

sahatchee River waters and celebrating the beauty that the region has to offer.

“This is a unique concept for the Cape Coral region and brings together the waterfront experiences that Southwest Florida residents and visitors love, while supporting our region’s thriving food truck community,” said Gary Aubuchon, owner of Slipaway Food Truck Park & Marina. “We are proud to celebrate all that makes the Cape a great place to live, work and play as we embrace yet another exciting opportunity to enhance the region’s growing list of food and entertainment options.”

Slipaway Food Truck Park & Marina is slated for completion in late 2024. Project partners include Stokes Marine, Chase Builders, Christopher J. Lee Architects, Wegman Design Group and Sanibel Captiva Community Bank.

Slipaway has opened applications for its available food truck spots and will consider established food trucks as well as new food truck concepts. Water, electric and sewer hook-ups will be provided for 10 food trucks.

Slipaway Food Truck Park & Marina will be Cape Coral’s first food truck park and marina. It is expected to open in late 2024.

Best commercial agents offer development expertise

Polls show real estate agents rank just above used car salesmen in public opinion, which is troubling for a professional Realtor. A common belief is that all an agent does is put up a sign, fix themselves a beverage, then sit back and wait for the closing. Members of the “anybody can do it club” do not understand how a house or a building gets built.

Anyone talking to government workers or tax collectors would walk away thinking they literally own all the land in their jurisdiction. It’s feasible, although ironic, that they can actually make a case to support their attitude. 1. The land has been there since God made it. 2. You cannot do anything with it — without their permission. 3. You cannot build anything or even clear the land without their permit. 4. They tell you how much you can build. 5. They tell you where it can be placed on the lot. 6. They tell you what type of structure and design you can build, and even how you may use it. In other words – you sort of own it!

When a construction project is conceived, the developer (any person or entity who is paying to have a structure built) must have a clear understanding of land use and local government. Building codes are similar in all jurisdictions, but not only are the laws not identical, they may have different names.

A competent commercial real estate practitioner will have a thorough knowledge of the industry, including zoning, future trends, building codes such as environmental rules, local endangered species restrictions and roadblocks in the area, density requirements, plans for the development of streets, roads and other projects, as well as local and state government incentives. And if that’s not enough, a seasoned professional in this business must be up to date on moderate taxation requirements (such as capital gains, opportunity zones, Tax Increment Funding, IRS Chapter

BY RANDY KRISE Guest Columnist

1031 exchanges) and utility availability, which can quickly become a major obstacle to beginning a project.

Building an enviable reputation as a “go-to” real estate advisor is greatly enhanced by being familiar and experienced with competent builders, companies you can trust with a modicum amount of certainty to whom you can refer your clients, members of the construction and engineering community who, in addition to having reputable skills, are honest and competent.

Site selection is critical. How many times do you hear location, location, location? There’s a reason for that. I see relatively new buildings, especially chain restaurants, that open and close very quickly. Generally, it is not due to a lack of customers who desire to use the restaurant, but due to a lack of customers. When a building does not have easy access and/or sufficient parking in a given area, people will choose one that does.

There is no substitute for local knowledge and expertise. Does the commercial Realtor build the building? No. Can a developer have too many advisers? Acquisition of the entitled (government permission granted) land will be much smoother and less costly with the help of a qualified commercial real estate practitioner on the team in the very beginning. Mistakes are always costly in the construction process. Don’t be fooled by thinking the construction process begins with the first shovel of dirt.

Randy Krise, CCIM, is the broker/owner of Krise Commercial Group in Fort Myers. He can be reached at (239) 633-8672 or Randy@krisecg.com.

GMA completes Bacino Vista in Cape Coral

GMA Architects & Planners completed work for Bacino Vista Condominiums, a new multi-family building located on Coronado Parkway in Cape Coral.

Located along the 80-foot-wide Atlantic Canal in South Cape Coral, the 49,000-square-foot, two-storyover-parking residential building overlooks boat slips with wooden decks available to each unit. The canal provides direct access to the Caloosahatchee River.

GMA’s design showcases a Bahamas-inspired architectural style featuring flat tile-covered pitched roofs with gable accents including characteristic exposed end trusses and support brackets. Wide soffits, open balconies and Bahama-style shutters complete the illusion. The ground floor-covered parking also provides individual storage space for each tenant.

The plan includes 12 two-bedroom and four three-bedroom upscale living units with upgraded appliances and fixtures, tiled showers and granite counter tops. Open balconies accessible from the living rooms and master bedrooms bring the outdoors inside.

Mayhugh Commercial Advisors sells Fort Myers warehouse

Mayhugh Commercial Advisors recently transacted the 11,950-squarefoot warehouse located at on Mainline Parkway in Fort Myers for $4.38 million. At $366 per square foot, this marks one of the highest per-squarefoot sales in the Alico Road industrial corridor.

The industrial property was purchased by Best Supply Properties. Best Supply is a leading supplier of commercial and residential interior building products. This will be its 15th loca-

CRE Consultants sells Class A office investment property

Ashkenaz USA has purchased Beachway Professional Center, a Class A office building located on Bonita Beach Road in Bonita Springs. The transaction, valued at $14.36 million, represents a significant milestone in the local real estate market.

This 61,702-square foot building is strategically positioned on Bonita Beach Road SW, just west of the US 41 intersection. At the time of the sale, Beachway Professional Center was 100% occupied, with a notable tenant roster including Edward Jones and TransAmerica.

The transaction was facilitated

by Dave Wallace, CCIM, SIOR, and David Wallace of CRE Consultants, who represented the seller, and Rainer Filthaut of International Realty Corp, who represented the buyer. The Wallace duo has been involved with the leasing of Beachway Professional Center since 2018, demonstrating their extensive knowledge and experience in the local commercial real estate market.

Under the new ownership, Dave Wallace and David Wallace will continue to handle leasing at the property, ensuring a seamless transition for tenants and maintaining the high standard of service they provided over the years.

tion in the United States, and the first in Southwest Florida.

Chase Mayhugh, SIOR, CCIM and Justin Ankney, CCIM of Mayhugh Commercial Advisors, handled the transaction.

Mayhugh Commercial Advisors and its team of commercial real estate professionals specialize in brokerage and consulting, property acquisition, property disposition, landlord representation, property management, tenant representation and marketing and support.

Galvano Construction & Roofing is delivering for clients in a big way, once again proving the company is a construction and roofing contractor of choice for commercial real estate leaders in Southwest Florida and beyond.

The Who’s Who of real estate professionals utilizing Galvano Construction for post-Hurricane Ian roofing and construction needs includes current CCIM Florida Chapter President Theresa Blauch-Mitchell, owner and broker of Sperry Commercial Global Affiliates in Fort Myers; Michael Frye, owner and CEO of RE/MAX Realty Group and the number one Re/Max in Florida; and former Florida Chapter CCIM President Randy Krise, owner of Krise Commercial Group. Blauch-Mitchell and Sperry built an impressive portfolio in commercial real estate leasing, sales and development, including industrial, land, office, retail, flex space, sports and entertainment, specialty, multifamily and health care. Frye is a top performer and has

over 25 years’ experience in commercial and residential real estate sales. Krise Real Estate Group has over 100 years’ experience in commercial real estate.

“Rich Galvano and his company Galvano Construction has been a lifesaver,” Krise said. “Hurricane Ian took four of my properties’ roofs off and Rich was there on day three cleaning up the debris and temporarily patching them all so that I lost no revenue. He has since done everything he agreed to do and professionally rebuilt my properties.”

Blauch-Mitchell has been working with Galvano Construction for about 15 years. “I like their ability to do everything from start to finish – the interior and exterior – especially after the hurricane,” she said. “And they are very reliable.”

Rich Galvano, founder of Galvano Construction, and his team deliver because of experience in construction. Galvano has been involved with roofing and construction since before Hurricane Andrew in 1994.

“Our expertise in multiple areas of construction, but especially roofing, is why some of the real estate experts in the regional seek us out,” Galvano said. “We know Hurricane Ian was devastating for many, and we want to be here to help the area rebuild.

“It’s an honor to assist real estate professionals like these three industry leaders for their specific needs and it is a hell of testament to real estate owners and clients when Frye, Blauch-Mitchell and Krise choose Galvano for their own properties.”

Serving Lee, Charlotte and Collier counties for over 25 years, Galvano Construction specializes in roofing but offers a variety of services through divisions including Galvano Roofing, Galvano Development and Galvano Real Estate. Galvano Construction also has experience providing work for new home construction in the residential and commercial fields including churches, industrial, retail, medical and multi-family projects. Visit galvanoprojects.com. Contact (239) 561-2222.

Denver Power Team joins forces with Call It Closed Realty

The country’s first cloud-based, 100% commission brokerage is expanding its national footprint under a new partnership with a Colorado real estate team.

Lee experiencing high demand for move-in ready office space

Part 1 of 2

Best Commercial Lot Values in Southwest Florida

visionary mindset to our team, we are poised to share our innovative business model with even more Colorado brokers, agents, developers and investors, and the home buyers and sellers whom they represent.”

per-square-foot reach record highs.

The addition of Denver-based Team Hybrid to Call It Closed International Realty marks the latest expansion for the Southwest Florida-based company, which currently operates in 16 states. Team Hybrid is led by co-founders Al Philip-Neri and Erik Ledezma.

A native of London, Philip-Neri was inspired to enter the industry by his parents, who owned several rental properties.

Even as we are exiting the era of increased remote work, landlords in major cities across the nation are still struggling to fill office spaces. On the flip side, Southwest Florida’s commercial office real estate growth is surpassing expectations, telling a unique story of its resilience.

The state of Florida was already flourishing before the pandemic, and, despite international setbacks, adjustments made in response to the crisis accelerated Florida’s development beyond pre-pandemic trends.

BY PHIL FISCHLER Guest Columnist

25335 Rampart Blvd

Port Charlotte 33983

Philip-Neri, a successful author, coach, athlete and public speaker, assumes the new role of Call It Closed International Realty’s Performance and Leadership Coach.

4214 Duncan Road (Hwy. 17)

Punta Gorda 33982

As a public speaker, he’s shared his compelling messages in schools, board rooms and on playing fields across Colorado and the country.

Ledezma is also a founder of the northern Colorado chapter of the National Association of Hispanic Real Estate Professionals and he will be instrumental in the addition of Call It Closed’s innovative Associate Education Program.

Price: $659,000 Size: 4.30 AC Description:

“Al is not only a successful Realtor but also a dynamic coach and change agent who will motivate, inspire and challenge our associates to even higher heights,” said Chad Osborne, co-founder of Call It Closed. “Along with Erik, who brings an unwavering work ethic, resolute determination and

Medical Office Space. Deep Creek has several ALF communities, private and public. Major Rehabilitation Center adjacent to this site. Two major hospitals within 10 minutes of site. East border of the property is a large Housing Complex with future zoning of commercial in front. Plans available for 7 buildings, each 5,000 sq. ft.

Best Commercial Lot Values in Southwest Florida

Price: $795,000 Size: 6.84 AC Description:

Call It Closed was founded in Southwest Florida by Chad and Aprile Osborne.

Reduced For Quick Sale Ready-to-build Commercial Lot

Marion Ave

Punta Gorda 33950

2 lots, 1 - 5.3 Acre Parcel and 1 - 1.5 acre parcel, 6.8 Acres, environmentals done. Just East of I-75. Zoned Industrial, Retail, Commercial General, No Residential or Mixed Use, 6.84 Acres at Washington Loop. Over 150 sq. ft. Road Frontage on Duncan. Phase I reports available, survey also available. Future land use is Commercial Corridor

For more information contact:

Jeanette Igoe

Price: $399,000 Size: 2.70 AC Description:

Zoned Low Intensity Industrial. 2 parcels, one approximately .25 Acres, the other 2.7. Perfect for Warehouse, Storage Facilities, Truck or Auto Terminal Hub, close to Hwy 17 and I-75 exit. Railroad meets rear of property. I-75 Interchange currently projected to cross eastern portion of property, high visibility once completed.

Marion Ave

Punta Gorda 33950

Broker Igoe Realty P.A. ABR, CIPS, CPRES, CRS, e-PRO, GRI, GREEN, SFR, TRC

jigoe5@aol.com

Just in the last year, Florida’s population increased by 1.9%, adding 420,000 new residents, earning its title as the fastest-growing state in the nation, according to U.S. Census data. Not to mention, most of this growth occurred in Gulf Coast regional markets, including Fort Myers and Naples.

According to CoStar data, Lee County has averaged 610 new residents each week for the past year, and, due to Hurricane Ian restoration efforts, Fort Myers’ construction sector currently leads the state in annual job growth.

Increases in both employment and population are driving rapid commercial real estate advancement in Southwest Florida. With some of the lowest office and industrial vacancy rates in the state, Lee County is ranked as the second fastest-growing county in Florida.

Meanwhile, commercial property owners in sizeable metropolitan markets such as New York, Boston or San Francisco, are struggling to find tenants, with office vacancy rates ranging from 20% to over 30%. Without rent-paying tenants to fill those spaces, landlords are left in a bind.

Specific to the office market, Southwest Florida is experiencing the opposite of what is happening in major markets across the nation.

Notably, the tenants seeking these spaces are not major corporations. While a few large-scale companies, such as NeoGenomics and Scotlynn, have established themselves in Lee County, they have constructed custom office facilities unavailable to outside tenants.

Rather, the most active tenants need move-in ready offices between 3,000 and 10,000 square feet.

Small, entrepreneurial firms that are coming in from another state or market and looking to establish a presence and contribute to Southwest Florida are what makes this market unique.

In addition, if a landlord is prepared to sell a well-located, accurately priced property, requiring minimal renovation, a bidding war will most likely occur.

This positions office-seeking tenants in a difficult situation to find a space that works for their needs, that they can move into in a reasonable amount of time. At the same time, landlords that have been considering selling their properties may be unaware of how or when is the best time to make a move.

It’s times like these when real-time local knowledge, market intelligence and deep transaction expertise that specialized brokerages like Fischler Property Company bring to the table can ease the tension for both parties in the buying, selling and leasing process, providing clients with invaluable insights and creating win-win results.

Price: $399,000 Size: 2.70 AC Description: Zoned Low Intensity Industrial. 2 parcels, one approximately .25 Acres, the other 2.7. Perfect for Warehouse, Storage Facilities, Truck or Auto Terminal Hub, close to Hwy 17 and I-75 exit. Railroad meets rear of property. I-75 Interchange currently projected to cross eastern portion of property, high visibility once completed.

239-572-3269

www.JeanetteIgoe.com

or Mixed Use, 6.84 Acres at Washington Loop. Over 150 sq. ft. Road Frontage on Duncan. Phase I reports available, survey also available. Future land use is Commercial Corridor

For more information contact:

Jeanette Igoe

Broker

Igoe Realty P.A. ABR, CIPS, CPRES, CRS, e-PRO, GRI, GREEN, SFR, TRC

jigoe5@aol.com

239-572-3269

www.JeanetteIgoe.com

Office vacancy rates have fallen to 4.3% across all of Lee County, and when you look at concentrated submarkets like Downtown Fort Myers, the vacancy rate drops even lower to 0.9%. Subsequently, move-in-ready office spaces are increasing in value while rent and sale prices

Check out part two of this series next time, when I dig into the three factors that will have the greatest impact on your office property over the next five years, if not already.

Phil Fischler is the principal of Fischler Property Company. Contact pjf@fischlerco.com or (239) 895-1060.

Philip-Neri Ledezman

New law provides more protection for contractors, design pros

Gov. Ron DeSantis on April 13 signed into law SB 360, a bill to make significant changes to the state’s construction defect claims process. The new law, which went into effect immediately, should provide some additional protections to those in the construction industry by shorting the time period for bringing design and construction defect claims, clarifying the application of these time periods on multi-building projects, and adding a “materiality” requirement to statutory claims for violation of Florida’s Building Code.

How does this impact Florida Contractors?

Shortened time period: The time period for bringing “known” claims remains four years but the time period is now deemed to have begun upon the earlier of various potential triggering events, rather than upon the occurrence of the last event, as was previously the case. Further, the statute of repose (which serves as an absolute deadline for bringing claims, and generally cannot be tolled or extended by lack of notice) reduces the time period for bringing a claim for design or construction defects from 10 years to seven years after the completion of the project. In most instances, this will mean that building owners will be barred from bringing defect claims seven years after the date of the project’s

Spiro

completion, even if the owner did not know or have reason to know of the defect.

mance of a building or its systems.”

Take-Away

BY J. MATTHEW BELCASTRO Guest Columnist

Multi-building projects: The new law will clarify the application of time periods on multibuilding projects. This means that for projects consisting of multiple buildings, each building will now be considered a separate project for the purposes of the statute of limitations. Accordingly, each building will be treated as a separate “improvement” for purposes of determining the time period for bringing claims.

“Materiality” requirement: The new law adds a “materiality” requirement to statutory claims for violation of Florida’s Building Code. This means that a claimant must demonstrate that a building code violation was a material factor in causing the alleged defect. This change is intended to prevent claims based on minor or insignificant code violations that do not actually impact the safety or habitability of the building. A code violation will only be deemed material if it “may reasonably result, or has resulted, in physical harm to a person or significant damage to the perfor-

BUSINESS SERVICES

The passing of SB 360 marks an effort by Florida’s legislature to create a more workable framework for limiting potentially stale claims and hopefully will cut down on litigation whether older claims can even be maintained. The materiality requirement for building code violations is helpful because it requires claimants to demonstrate a more meaningful level of severity to support their claims. While there will likely be disputes as to whether a particular violation is “material” under the statute, the new language should serve to preclude claims based on technical violations involving limited damages. As always, it is recommended that those involved in the construction industry in Florida seek legal counsel for any questions relating to this new legislation. Please feel free to reach out to me if I may be of assistance.

J. Matthew Belcastro is Board Certified in Construction Law at Henderson Franklin Attorneys at Law. He is a founding officer of the Lee County A.C.E Mentoring Program and is a member of the Lee County Building Industry Association. Contact matthew.beclastro@henlaw.com.

brings golden touch to Compass Rose Marina

Compass Rose Marina is a project 17 years in the making and will include a boat storage facility built to withstand 200-mph winds, alongside another marina, retail shops, condos and townhomes. With the fact it is being built in the hurricane-ravaged area of Fort Myers Beach and contributing to the community’s comeback from Hurricane Ian, Spiro & Associates was presented with a tremendous opportunity.

The company aimed to take what could have been a traditional groundbreaking event to another level for not only the developers but the media and those interested in the project. Compass Rose means jobs for the area, a place where boat owners can have safe storage and marina access, as well as sales and service options from RYCO Marine.

Boaters also can be assured the boat storage structure will not only withstand Category 5 winds but also will be floodproof, an appropriate concern as Hurricane Ian brought a storm surge of approximately 15 feet to the area. The project will also provide living and shopping areas to a community rebuilding much of its residential and commercial base.

Instead of holding a traditional

groundbreaking, Spiro & Associates presented this event as an “Anchor Setting” in keeping with the nautical theme and symbolic of development, which will help anchor the community. The event featured golden anchors (with the Compass Rose logo on them and the words “Anchor Setting Event”).

The anchors replaced traditional gold shovels typically used for “groundbreakings.” The eight people designated to have the anchors when it came time for the ceremony then set

the anchors onto a mound of dirt while holding onto the line. Those attending also received a smaller version of the golden anchor as a keepsake which doubled as the physical invitation delivered to dignitaries and community leaders.

Spiro & Associates staff and the developers also wore branded boating shirts with the Compass Rose logo embroidered on them. The construction area fences were lined with banners announcing the project and there were artist renderings of the project

and the site for participants to view as well.

Over 50 people attended the anchor setting event, including notable figures such as Lee County Commissioner Ray Sandelli, state Sen. Jonathan Martin and Fort Myers Beach Mayor Dan Allers, as well as other sub-contractors involved in the project, staff members from the Lee County Economic Development Office and the executive director of the Horizon Foundation.

The event garnered significant media attention, with Fox 4 interviewing Compass Rose owner Jack Mayher prior to the event and after the ceremony. NBC-2/ABC-7 also provided TV coverage. Spiro & Associates further enhanced the event’s impact through the distribution of press releases, resulting in several articles and an additional interview with NBC-2 in the days leading up to the event.

This event illustrates Spiro & Associates’ ability to transform a conventional groundbreaking into a truly memorable, “Not Normal” experience – headlined by the anchors. The continued commitment by Spiro & Associates to think differently and creatively for its clients created lasting and memorable moments for all those in attendance.

Compass Rose Marina will include a boat storage facility built to withstand 200mph winds, alongside another marina, retail shops, condos and townhomes on Fort Myers Beach.

Naples Airport benefits entire community (not just the affluent)

Corporate executives, successful entrepreneurs and wealthy retirees frequently use Naples Airport when traveling to and from Southwest Florida. It is convenient, easy to navigate and accommodates a range of small- and mid-sized jets.

As community leaders continue exploring solutions to resolve noise concerns from residents living near the airport, it is easy to blame those who book private jets to enjoy long weekends at their beachfront mansions.

Naples Airport is not just for the wealthy, though. It’s for us – ALL of us.

The airport is a critical piece of our infrastructure puzzle. Along with roadways, parks, schools, libraries and public utilities, Naples Airport helps make our community one of America’s best places to live.

Who uses Naples Airport? Yes, jet-setting executives and wealthy retirees are arriving and departing daily, but the airport’s value extends far beyond serving as the landing strip for affluent business and leisure travelers.

Naples Airport is home to the Collier Mosquito Control District, a government agency that relies on a fleet of trucks, drones, helicopters and airplanes to control our sizable mosquito population. Without their help, venturing outdoors, especially in the summer, would be unbearable.

The airport also is a base for the Collier County Sheriff’s Office, which has an aviation unit that

conducts search and rescue operations, surveillance, patrol flights, searches for illegal marijuana grows and aerial photography.

The U.S. Customs and Border Protection has a presence at Naples Airport, as do flight schools that help aspiring pilots hone their skills.

Additionally, Humane Society Naples partnered with Elite Jets to create a staging area for animals that allowed charter companies to help dogs and cats find their forever homes elsewhere.

She went on, “I know everybody’s really anxious about how the next few months are going to be. And honestly, I am too. I’ve been saying for a while it’s going to be a rough summer, because we know that summer is when we primarily get people coming for a beach vacation. That’s what you do with your family in the summer. So let me share with you how many rooms we actually have available on our beaches.”

She stated the current local hotel availability. On Sanibel and Captiva, 180 rooms are available, while 1,850 are not. Fort Myers Beach has 348 rooms available, and 1,748 not yet online. Pine Island has 63 rooms, so it’s about 41% open. Bonita Springs has most of its rooms open.

That means, Pigott stated, that for many of the re-opened local restaurants to remain in business, locals

BY STEPHEN MYERS Guest Columnist

Collier County MedFlight has a pair of helicopters at Naples Airport that transport residents and visitors in need of immediate medical attention. Because Collier does not have a trauma center, an air ambulance service is critical when every second matters.

On the nonprofit side, Angel Flight uses Naples Airport to fly charitable missions with organ transplant candidates, veterans, cancer patients, victims of abuse and others. Humane Society Naples and America’s Military & First Responders Museum both have a presence at Naples Airport.

Naples Airport also plays a role in the region’s hurricane response and recovery. Although much of the airport grounds flooded during Hurricane Ian, crews worked expeditiously to clear runways and fix damage so U.S. Coast Guard and military helicopters could begin search and rescue operations.

need to support them, especially this summer, because we simply will not see our normal number of summer visitors.

“Again, I’m not preaching to the choir,” she continued. “I know you guys know this better than I do. We need our local residents to come out. So we haven’t done very many local campaigns with tourist tax dollars, but we’re going to spend about $100,000 this summer targeted to our local community.”

Pigott observed that this summer will probably be the hardest on our local hospitality industry, and then it will get better every year. In three to five years, she predicts, the makeup of the local hospitality industry will be completely different than today.

She said to the audience, “You’re asking yourself, ‘How soon can we get back? How soon can we rebuild this community?’ And here’s the truth. It’s going to take years, folks. I mean, nobody wants to hear that. I

A 2022 economic impact study determined Naples Airport supports 5,454 jobs in the community and generates a total economic impact of $781 million annually. Each time a jet or helicopter flies overhead, it doesn’t just mean another affluent individual is coming or going. It means revenue is filtering into the local economy.

It might mean mosquitoes are being sprayed, law enforcement is tracking down a criminal or one of our neighbors, friends, family members or coworkers is being rushed to the hospital for a lifesaving medical procedure.

Naples Airport has a long history of service to this community that dates all the way back to its origins in 1943, when it was used as a military airfield. Today, the airport is still providing vital benefits to this community as a transportation hub essential to our safety, health, wellbeing and economy.

Stephen Myers is president of Friends of the Naples Municipal Airport, an organization created in 1999 to advance public understanding and interest in the beneficial use and utilization of aviation. He is an FAA-certified pilot, certified aviation manager and executive vice president at Elite Jets. Visit www. friendsofkapf.org or contact (239) 261-1111.

want it to be fixed tomorrow. If I had a magic wand, I’d have some really beautiful hotels with meeting space, but it can’t happen quickly. It’s going to take time and we’ll get there, we absolutely will get there. And what we’ll have at the end of this will be better than anything we had before. That’s the truth.”

Pigott continued, “It can’t be like it was. I mean, let’s be realistic, in fairness to all of us. You can’t build your house on the ground the way you built it before, right? Do you want to build your house again, and then have this potentially happen again in a few years? I don’t think anybody wants to go through that. So guess what, it’s going to cost more to rebuild stronger. It’s going to take longer to permit it, and the cost of goods and services are going up as the timeframe is extended. So these are going to be some of our challenges.”

She indicated one potential

For more business news, visit www.swfloridabusinesstoday.com

change that would impact the very foundation of the local economy. “If hotels get replaced with single family homes, and that’s a very real possibility, it’s going to be a different economy than if those are hotels, and again it’s a very delicate line.” Pigott then told the audience, “We want this to be a special place. We are all here because it’s magical here. But we also have to understand that some business activity has to occur for us all to stay employed and have an economy that’s thriving. We want our kids to be able to grow up here and our grandkids to be able to grow up here. But I think we as citizens need to be very, very conscientious when we think about what we want. Understand that there’s an economy that goes with all of those things.”

An owner’s approach to property management

My interest in the business of Property Management began around the same time I acquired my first investment property. Shortly thereafter, Mayhugh Commercial Management was born.

At present, the firm manages assets from Jacksonville to Naples, with a heavy focus on Southwest Florida.

The owner’s approach to property management is treating every single property like it is my own and instilling those same beliefs in my staff. This is a simple idea but an important one, and I fully believe my experience as an owner has increased my skillset as a property manager.

Not all property owners are created equal, and I am fortunate to work with many different types of individuals from different walks of life. Some own one asset. Others own entire shopping centers or have properties all over the country. It is not always easy or stress-free, and there is usually a lot at stake. I feel that, since becoming an owner myself, my relationships with clients have only improved and my empathy toward their perspective is heightened.

When I look at a property now, it is through the lens of an owner. I always took pride in properties and their appearance and upkeep, but even more so now that I have experienced ownership myself. I enjoy the challenge of maximizing value for landlords while also keeping the tenants happy. I contemplate every decision with that balance on my mind. I embrace the responsibility of taking care of what could possibly be my client’s largest asset and give it the same care and attention as my own. There are constant questions or decisions to be made such as: How and where can I cut expenses to increase net operating income? Are there ways we can extend the life of the capital improve-

ments without stressing the tenants? Does this improvement add value to the property?

The value of marketing when your customers already know your name

At times, Southwest Florida can feel like Cheers – a place “where everybody knows your name.”

Even in a community of familiar faces, businesses cannot expect name recognition alone to continue generating foot traffic and sales.

BY CHASE MAYHUGH Guest Columnist

I have contemplated all these questions and more for my property management assignments as well as my personal investment properties. When given the chance to opine, I always let owners know what I would do if the roles were switched, and I truly believe I can represent my owners better because I am one. Sales and leasing of commercial real estate has been my life’s work. When I was contemplating starting the property management division, many brokers advised me not to do so as it would take away time from traditional leasing and sales. There are some companies that offer both, but brokerage firms typically do not offer property management services. As I began to manage my own properties, I realized I enjoyed property management and began the company, despite many naysayers. To this day, I am grateful to have made that decision. I take joy in helping tenants in their time of need and getting the problem fixed. I take joy in helping owners resolve an issue and quickly connecting them with the best contractors in our area.

Like the saying goes, love what you do and do what you love.

Chase Mayhugh, SIOR, CCIM, is the owner of Mayhugh Commercial Management. He’s a licensed broker and senior associate at Mayhugh Commercial Advisors. Contact (239) 278-4945 or chase@mayhughcommercial.com.

BUSINESS SERVICES

What are A.I.’s implications for public relations?

Henderson, Franklin, Starnes & Holt attorney Mark Nieds was a featured panelist at Florida Public Relations Association, Southwest Florida Chapter’s July luncheon at the Crowne Plaza at Bell Tower in Fort Myers. Additional panelists included John Joyce, owner of CRS Technology Consultants, and Manny Gonzalez, senior director of web services at Priority Marketing.

Nieds delved into the impact of AI on content creators and their intellectual property rights. He shared valuable steps PR pros can take to ensure they steer clear of copyright infringement when using AI-generated content. He also discussed the question of who takes responsibility when AI produces inaccurate or misleading information, and detailed ways in which PR professionals can miti-

gate such risks. Nieds is chair of Henderson Franklin’s Intellectual Property Practice Group. Drawing on more than two decades of experience, he counsels clients on copyright, trademark, franchising and trade secrets matters. His practice also encompasses digital and internet-related legal issues including AI, blockchain, creation and implementation of privacy policies, terms of use agreements and data privacy and security.

Nieds is a sought-after speaker and blogger on the Southwest Florida Business and IP Blog. Nieds received his undergraduate degrees from Miami University and the Illinois Institute of Technology, and his J.D. from the Chicago-Kent College of Law. He may be reached at mark.nieds@henlaw. com or by phone at (239) 344-1153.

An effective strategic marketing campaign places just as much emphasis on connecting with well-known customers and clients who have been buying goods and services from you for years as it does new customers. Here’s why:

• Choices: Southwest Florida’s population growth has led to a proportionate growth in businesses. Across the five-county region, the U.S. Census now reports 39,857 employer establishments, plus another 145,302 non-employer establishments, a category that includes self-employed workers like independent real estate agents, Uber and Lyft drivers, freelancers and contracted workers. Residents now have many options when eating dinner, buying a car, installing a pool cage or replacing a roof.

BY TERI HANSEN Guest Columnist

• Competition: Nearly every type of product across every industry is available online. With lower overhead costs, online retailers can often price their products lower than local, brick-and-mortar stores. Free, expedited shipping can make online shopping just as convenient as shopping in a neighborhood store.

• Additions: Successful businesses continuously innovate. That means introducing new products, menu items or services and telling them about it. Former and current customers that have had positive interactions with your brand are more likely to buy a new item or register for a new service... if they know about it.

Every business wishes its customers were more like Norm and Cliff from Cheers – loyal, lifelong and devoted – but businesses can never rest on their laurels and assume customers will keep coming back for more. Effective marketing, advertising, public relations and social media strategies keep businesses top of mind with their existing customer base while also attracting the eyes of prospective customers and clients.

Teri Hansen, APR, is president and chief creative officer at Priority Marketing. Visit PriorityMarketing.com or contact (239) 267-2638 or teri@prioritymarketing.com.

Regulators urge lenders to work out distressed commercial loans

The Federal Deposit Insurance Corp., along with the Office of the Comptroller of the Currency, the Federal Reserve, and the National Credit Union Administration worked together to update, reinforce and build on existing supervisory guidance calling for financial institutions to work prudently and constructively with creditworthy borrowers during times of financial stress.

The updated policy released in the past week includes a section on shortterm loan accommodations that was not included in the agencies previous guidance. Short-term accommodations include an agreement to defer one or more payments, make a partial payment or provide other assistance or relief to a borrower who is experiencing a financial challenge.

“The agencies recognize that financial institutions face significant challenges when working with commercial real

estate borrowers who are experiencing diminished operating cash flows, depreciated collateral values, prolonged sales and rental absorption periods, or other issues that may hinder repayment,” according to the statement. “While such borrowers may experience deterioration in their financial condition, many borrowers will continue to be creditworthy and have the willingness and ability to repay their debts.”

The policy statement issued comes amid escalating loan distress brought about by rising interest rates, higher inflation and slowing transactions and commercial real estate space demand. Those issues are expected to affect the financial condition and repayment capacity of at least some commercial real estate borrowers.

And while the statement that updates guidance doesn’t represent a significant regulatory policy change, it signals how

Hertz Arena and Everblades make front office promotions

Craig Brush, CEO of Hertz Arena and long-time general manager of the Florida Everblades, revealed multiple front office promotions for the ECHL hockey club and Hertz Arena management staff. This strategic initiative is designed to enhance operations and position the organization for ongoing success in the professional ice hockey and entertainment industries.

In a significant move, Florida Everblades Head Coach Brad Ralph was promoted to general manager and head coach of the team. Ralph’s ability to inspire players and drive success will play a pivotal role in shaping the team’s roster and strategic direction.

“Over the past seven years, I have witnessed the incredible passion and dedication of our players, staff, and fans,” Ralph said. “I am confident that we will continue to achieve great things together and I am excited for this new challenge, leading the team to continued success.”

Brush will remain in the role of CEO of Hertz Arena and became president of the Florida Everblades.

Scott Bryant, senior executive vice president and general manager of Hertz Arena, became president and chief financial officer of Hertz Arena. Bryant’s exceptional financial skills and managerial expertise over the past 23 years at Hertz Arena will take the operational efficiency and financial stability of the venue to new heights.

“Having dedicated over two de-

cades to this remarkable organization, I am humbled by the opportunity to contribute to its success,” Bryant said.

“Together with our talented team, we will continue to raise the bar, providing unforgettable moments for our fans and visitors.”

Chris Palin, executive vice president of business development, stepped into the role of executive vice president and chief revenue officer. He will be at the forefront of efforts to generate revenue. With his experience in building successful business partnerships, Palin’s expertise will play a crucial role in driving financial growth.

Adam Winslow, previously vice president of marketing, now serves as executive vice president and chief marketing officer, leading the organization’s marketing, public relations and community relations efforts. With his creative thinking and marketing skills, Winslow will continue to enhance the venue and the team’s brand visibility and strengthen connections with fans through a combination of grassroots marketing and innovation technology strategies.

“This reorganization positions the Florida Everblades and Hertz Arena for continued growth and success,” Brush said. “We have assembled a dynamic team of leaders who are dedicated to elevating our organization’s performance both on and off the ice. I have full confidence in their abilities to propel us forward.”

lenders are more likely to be dealing with borrowers facing difficulties in meeting loan obligations or refinancing conditions.

In such cases, financial institutions may find it beneficial to work constructively with borrowers, according to the agencies.

“When short-term accommodation measures are not sufficient or have not been successful in addressing credit problems, financial institutions could proceed into longer term or more complex loan arrangements with borrowers under a formal workout program,” the guidance stated.

Longer-term loan workout arrangements can take various forms, including renewing or extending loan terms, granting additional credit to improve prospects for overall repayment, or restructuring the loan with or without concessions.

The guiding factor in working with borrowers should be their ability to repay the loan including the borrower’s willingness to do so, according to the guidance.

When analyzing a commercial borrower’s repayment ability, examiners should consider the following factors: the borrower’s character, overall financial condition, resources, and payment history; protection provided by the cash flow from the borrower’s business operations or the underlying collateral; and relevant market conditions, particularly those on a state and local level, according to the guidance.

CoStar is the industry leader in commercial real estate information, analytics and news. We provide our clients with the data and tools they need to make smart decisions and stay ahead of the competition. Learn more at www.costar.com.

BUSINESS SERVICES

‘Champ’ launches agency

A real “Champ” in the business world set course for a new venture in South Florida. Michael “Champ” Champer opened Brightway, The Michael Champer Insurance Agency.

A transplant to the Sunshine State from Ohio, Champer brings 30 years of sales experience to the Naples market by way of his Brightway agency. The Panther Lane location is a culmination of all the right things happening at the right time.

The son of a former railroad field terminal manager and a Midwest homemaker, Champer, 54, is a product of Small Town U.S.A.

“As a kid from Marion (Ohio) in the 1970s, I always wanted to be an astronaut,” Champer said of his life in the small northern town. “However, being from such a small city, there was only one of three things that you were destined for after graduating from high school. A trip to college, the military or the Honda plant.” Champer’s first job would be with the Honda of America Manufacturing plant in Marysville, Ohio.

What ensued, though, would be three decades of record-setting sales performances in the Greater Columbus auto industry up until Champers’ relocation to Florida in 2015.

Much like another small-town Buckeye, famous American astronaut John Glenn, Champer is

launching his mission with hopes of taking his industry to the next level in South Florida. With two grown sons and a wife, Michel, all working in the medical field, Champer has been providing his own care to customers for more than three decades now. Now, Michel will join Michael to work as an agent within the franchise.

Brightway, The Michael Champer Agency offers customized Home, Flood, Auto, Boat, Condo, Renters, Personal Articles, RV, Motorcycle, Umbrella, Commercial and Life insurance policies from numerous insurance companies.

Brightway’s corporate office staff provides expertise and support in areas including customer service, technology, accounting, marketing, distribution and business analytics. In addition, Brightway handles carrier relations and appointments, as well as support with personnel hiring, licensing, onboarding, training and retention. The company’s signature after-the-sale service empowers Agency Owners, like Michael, to focus on new business sales and provide customers the personalized service they deserve.

Champer

INTERNET PAGE 1 BUSINESS SERVICES

Hiring a licensed contractor in Florida: What you need to know

As the demand for home improvement projects increases in Florida, homeowners must be cautious when hiring a contractor.

The state requires contractors to be licensed and insured, but not all contractors adhere to these regulations. Hiring an unlicensed contractor can put homeowners at risk for subpar work, financial loss and legal trouble.

The Better Business Bureau and Florida Department of Business and Professional Regulation remind Floridians to thoroughly research professionals and businesses prior to hiring and to report suspected unlicensed individuals. Unlicensed activity is against the law—BBB and DBPR take unlicensed activity very seriously because it threatens the safety of Florida’s consumers and takes away business from licensed professionals throughout the state.

Unlicensed activity occurs when an individual offers to perform or performs services that require a state license and the individual does not hold the required license. Florida law sets specific rules and guidelines for obtaining professional licensure, and the people who have met these requirements are held to professional standards.

“With summer and hurricane season in full swing, homeowners are searching for contractors to perform quality, affordable home improvement work,” said DBPR Secretary Melanie S. Griffin. “I encourage homeowners to do their research and verify licenses at MyFloridaLicense.com to ensure they are hiring a licensed professional with the education and experience necessary to do the job correctly the first time.”

To avoid these potential hazards, homeowners should do their research before hiring a contractor. The first step is to verify the contractor’s license with DBPR. Homeowners can visit DBPR’s website or call their customer contact center to check if the contractor is licensed and has a clean record.

In addition to a license, homeowners should also ask for proof of insurance. Contractors should carry general liability insurance and workers’ compensation insurance to protect themselves and the

Don’t forget to post your in-person and virtual event on our B2B events calendar at www.swfloridabusinesstoday.com/ calendar

homeowner in case of an accident or injury.

Once the contractor’s license and insurance have been verified, homeowners should ask for references, examples of work, check a contractor’s track record at BBB.org and look for the BBB Accredited Business Seal to know the company is committed to BBB’s standards of trust in the marketplace.

“Choosing a licensed contractor is crucial for any home improvement project,” said Karen Nalven, president and CEO of Better Business Bureau serving West Florida. “Homeowners should take the time to research their options. Go to BBB.org and make sure you are hiring someone who is both qualified and trustworthy.”

Hiring a licensed contractor may require more effort and research, but it can save homeowners time, money, and headaches in the long run. Both BBB and DBPR have online resources to educate consumers on how to hire a licensed professional and to report unlicensed activity.

• BBB provides information for consumers to help make informed buying decisions and find properly licensed professionals, BBB Accredited Contractors, as well as an easy-to-use checklist. Resources to help businesses build trust in the marketplace are also available at BBB.org/consumers.

• Report unlicensed contractors to BBB and to DBPR.

• Consumers can verify professional licenses that fall under DBPR’s jurisdiction by visiting MyFloridaLicense.com (click “Verify a License” in the middle of the home page), by calling (850) 487-1395 or by downloading the free DBPR Mobile app through iTunes or the Google Play store.

• An FAQ including information on services requiring a state professional license from DBPR and how to report suspected unlicensed activity is available on the DBPR website.

proud to make investments in broadband Internet infrastructure that will benefit all Floridians and make longterm, resonating impacts in communities across the state.”

“Under Governor DeSantis’ leadership, Florida is expanding broadband Internet to small and rural areas of the state that will now have new access to critical resources,” said Florida DEO Secretary J. Alex Kelly. “Broadband Internet infrastructure will change the landscape and quality of life for Florida families and businesses, connecting them to workforce training, jobs, educational resources and telehealth services. ”

The following projects will be awarded through the Broadband Infrastructure Program:

• The unincorporated areas of Rotunda and Cleveland and parts of Charlotte County — $3,085,000 to add 96.49 miles of fiber optic cable to provide 805 unserved locations within Charlotte County with symmetrical download and upload speeds of 1GB.

• Burnt Store Road corridor and U.S. 41/Interstate 75 corridors — $2,160,000 to add 92.1 miles of fiber optic cable to provide 1,268 unserved locations within Charlotte County with symmetrical download and upload speeds of 1GB.

• City of Immokalee – $122,000 to add 61.93 miles of fiber optic cable to provide 242 unserved locations within Collier County with symmetrical download and upload speeds of 1GB.

• Unincorporated areas of

Arcadia/East and Pine Level –

$2,550,000 to add 82.48 miles of fiber optic cable to provide 634 unserved locations within DeSoto County with symmetrical download and upload speeds of 1GB.

• Cities of Arcadia and Hull –$3,490,000 to add 98.58 miles of fiber optic cable to provide 689 unserved locations within DeSoto County with symmetrical download and upload speeds of 1GB.

• Unincorporated community of Nocatee – $2,600,000 to add 72.35 miles of fiber optic cable to provide 453 unserved locations within DeSoto County with symmetrical download and upload speeds of 1GB.

• City of Bonita Springs –$612,830 to add 6.9 miles of fiber optic cable to provide 328 unserved locations within Lee County with symmetrical download and upload speeds of 100/100 megabits per second (Mbps).

• City of Fort Myers, the unincorporated areas of Lehigh Acres, North Fort Myers, Alva and Olga – $2,050,000 to add 68.31 miles of fiber optic cable to provide 1,196 unserved locations within Lee County with symmetrical download and upload speeds of 1GB.

The Florida Department of Commerce is hosting a series of public workshops host a series of public workshops to hear directly from Floridians about barriers to accessing broadband Internet service in their communities. The workshops will help inform Florida’s plan to access funding for the expansion of broadband Internet service, and the deployment of online devices and digital skills training.

Safe, Sound banking services . ” Top Priority is to provide

In the current banking climate, you might wonder where to go for safe, sound banking services. We can assure you that Edison National Bank/Bank of the Islands is FDIC-insured and continues to earn the highest 5-Star Superior rating by BauerFinancial - the source for unbiased, independent analysis for financial across the nation.

Edison National Bank/Bank of the Islands is standing strong with money to lend, and with a history of long-term stability and resilience, we are absolutely committed to remaining well-positioned to honor our promises and protect our banking customers.

Bank of the Islands - Sanibel

Bank of the Islands - Captiva

Geoff Roepstorff, CEO and Robbie Roepstorff, President