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TAKE ONE A look at commercial real estate trends & topics in Southwest Florida

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MARKET TRENDS 2021

Salute to Entrepreneurs

Startups, solo practitioners and visionaries fuel the economy of Southwest Florida.

COMMERCIAL REAL ESTAT

A look at commercial real estate trends & topics in

Real estate expert Denny Grimes tells professionals at Caloosa Sound Convention Center what differentiates this boom from the market ahead of The Great Recession.

Commercial Real Estate

The center of the newspaper is the quarterly SWFL Commercial Real Estate market overview. ST FLORIDA’S

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Brady Photos by Christine trade to the Southof international offices. about the importance Buqueras talks Lee County Economic Development Director Carlos the first-ever stop at Port Manatee Executive during the Port’s west Florida market

Estate Commercial Real 8-page pullout

South American

A comprehensive a quarterly Southsection that is Real Eswest Florida Commercial

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IN THE NEWS

to Dave Gammon elevated Charlotte EDO director

in the wake of Charlotte County, joinLucienne Pears former director Partners at Babcock ing Kitson and former Business Ranch, elevated and interim Recruitment Supervisor to executive director Dave Gammon Economic Developdirector of the ment Office. face in reGammon is a familiar he development as gional economic three years with his has proven in EDO. County Charlotte continue leading He is excited to like developments several existing page 19

Florida to communities in second one of four host as part of the Lee County was from seven countries welcome companiesTrade Summit. Manatee, annual International International Trade Hub at Port Fort Lauseries visited Organized by The one day Business opportunity ota and Tampa for the 2019 Global Bradenton/Saras derdale, Fort Myers,to 29. 26 Office, Southwest each from Aug. ReEconomic Development and the Southwest The Lee County Chamber of Commerce the event, which Florida Hispanic Association co-hosted gional Manufacturers Gulf Railway. Chile, Colombia, was sponsored Seminole from Argentina, other locales International companies Spain, Peru and Mexico, goods, artisanal apparel, El Salvador, Guatemala, food, coffee, fruits, cooking systems featured wine, snack and state-of-the-art to merchandise companies Lee County industryof founded as part summit showcases during the summit. Trade Hub at Port Manatee, and An expo-style from seven nations markets in Florida and business leaders visiting Summit. The International International Trade advice as a vital link between provides expert See page 6 the second annual in 2014, serves world. The hub TRADE throughout the

ENEURS h SALUTE TO ENTREPR poised for growt and Business Intermediary Proess Advisors experi- a CertifiedMergers & Acquisitions transaction Edison Busin the IBBA ap- Certified designations from ence totaling partner and

GAMMON See

Privacy & Cyber Security d Forum announce

& Cyber SeA special Privacy held on Friwill be at curity Forum 9 a.m. to noon day, Nov. 8, fromNews Community the Naples Daily room. Companies will William C. Huff and insponsor the informational for the community. teractive forum forum is for atThe goal of the clearer undera tendees to gain keep their famito standing of how businesses private. lies, wealth and FORUM See page

in fi$170 fessional a Eric Gall, managing with a concentration proximately for Edison Avenue, won and an MBAthe University of Michigan. broker of record brokerage and lower million. Gall transactions and nance from leading business Gall in business the 2018, 2016 and acquisitions Niehaus, Bro- Assisting middle market mergers Pfeffer, Steven 2014 Business significant changes No. 1 are Michael and Phillip Reda. firm, is announcing kers of Florida Edward Valaitis Business Adto operations. Top Dollar Producer to rebrand itself Pfeffer joins Edison of business The firm has decided over 20 years Award for Southwest Advisors” to better out visors with experience, including 12 as “Edison Business service offerings, Florida, beating busi- transactionbusiness brokerage franchise communicate addedbusiness appraisals, Gall a over 90 other He is years as Southwest Florida. Pfeffer is a including certified appraisals and certiness brokers. owner in Certified certified equipment Business Brokers Board Certified Intermediary, International an and also page 6 strategies. See fied exit EDISON Chairman’s Circle mergers and acquisiBrokerage and led by Association Award winner. Eric holds continue to be tions efforts will 20 years of business Deal Maker Gall. He has over OPENING

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Hoffmann Family buys Hertz Arena, Everblades

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The Hoffmann Family of Companies has entered into an agreement to purchase the Florida Everblades and the Hertz Arena. Plans are underway for a complete renovation of the 8,284-seat, multipurpose arena. The improvements will include enhanced skyboxes, food services and installation of a state-ofthe-art scoreboard. Hertz Arena, which opened in 1998 as Everblades Arena, hosts a variety of events including concerts, Cirque du Soleil, Disney on Ice, boxing and trade shows. The venue offers

Focus on Manufacturing

Area companies are building a better future — one made right here in Southwest Florida.

25 suites, two additional ice rinks, a private club and a pub, Breakaway Sports Pub. The arena is also home to the Florida Gulf Coast University Eagles club hockey team of the American Collegiate Hockey Association. “We are optimistic that all of the 330 employees will remain with the Hoffmann Family of Companies,” said Craig Brush, Florida Everblades President and General Manager, who signed a five-year contract and has a commitment from all his senior staff to remain in place. “We are thrilled to be acquired by

A specially focused monthly section exploring the SWFL commercial real estate marketplace.

IN THE NEWS

Fort Myers sixth Business Summit slated for Sept. 20

Holly Bell addresses citrus growers about the 25,000-plus uses for industrial hemp, which can now be grown legally in Florida

Cannabis chief promises rich stash for hemp growers Special to SWFBT Submitted By: Jacob Ogles, Editor

SUMMIT See page 7

When other states started authorizing farmers to grow hemp, it didn’t take long to realize there was no place to sell it. Because no structures had been put in place for processing and manufacturing plants, state officials found themselves rushing a regulatory structure through so farmers could offload their first harvests. Holly Bell, Florida’s first Director of Cannabis, plans to learn from that mistake. She said the Department of Agriculture and Consumer Services will make sure all parts of the burgeoning hemp industry can move forward as soon as new rules unroll later this fall. “When our farmers are ready for a cash flow, we want to encourage them to get going,” she said.

Applications being accepted for the 25th Blue Chip Award The 25th Annual Southwest Florida Blue Chip Community Business Award application deadline is fast approaching. The Blue Chip Community Business Award recognizes successful, small businesses in Lee, Collier or Charlotte County that have overcome adversity to achieve success. Applications must be submitted by Wednesday, Sept. 4. The independent judges select the honoree after all the applications AWARD See page 19

Bell spoke in August at the Citrus Expo and Vegetable and Specialty Crop Expo, where growers from around the region gathered to hear her discuss this new and just recently legal product to diversify their inventory. Just a few years ago, there were no legal reasons to grow cannabis in Florida. Now, medical marijuana dispensaries pop up in more shopping centers each week. Soon, farmers will grow non-narcotic hemp crops. With the 2018 federal farm bill allowing hemp to grow, a budding industry will soon emerge in Florida. The Legislature this year authorized a pilot program for growing hemp in the Sunshine State, and state officials are nearly done weeding through a stack of public suggestions.

GrowFL announced this year’s 50 Florida Companies to Watch honorees, including three from Southwest Florida. Companies to Watch is a statewide competition that identifies companies expected to see significant growth over the next several years. The GrowFL Florida Companies to Watch awards program—now in its ninth year—honors 50 select second-stage companies from throughout Florida for developing valuable products and services, creating quality jobs, enriching communities, and broadening new industries throughout Florida. Chosen from 500 growing second-stage nominations from throughout, Florida, the 50 companies named as the 2019 Florida Companies to Watch honorees generated nearly $1 billion in revenue and added over 900 jobs between 2015 and 2018. Together, the honorees project a 35 percent increase in revenue and 37 percent increase in job growth in 2019 compared to 2018. “These stand-out companies are all led by entrepreneurs, and have demonstrated their capacity and intent to grow,” said Dr. Tom O’Neal, GrowFL executive director. “They also all have critical intellectual property or a niche position that gives them a competitive edge in their markets,” he said. Local honorees include: Cottrell Title & Escrow, Collier County; Mettauer Environmental, Lee County; and VeraData, Lee County . “This list recognizes second-stage Florida companies with passionate leaders who are making a difference in growing and diversifying our economy,” said Jennifer Barrows, GrowFL Chairman of the GrowFL Advisory Board and Business Development Executive with WithumSmith+Brown, PC. Second-stage companies are those

HEMP See page 5

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HOT CROP Commercial Real Estate

The Greater Fort Myers Chamber of Commerce has announced an exciting line-up for its 2019 Business Summit, set for Sept. 20. The summit, now in its sixth year, will run from 8 a.m. to 3 p.m. at the Sanibel Harbour Marriott Resort & Spa in Fort Myers. This year’s keynote address is “Communicate Your Way to Success,” by entrepreneur, business coach and international speaker Jason Evers. Evers has traveled to more than 20 countries on five continents

such a prestigious company. Our partnership with the Hertz Corporation and now this new ownership ensures that Hertz Arena will maintain our strong community presence and continue to be the number one choice for entertainment in Southwest Florida.” The team and the arena were previously owned by Peter Karmanos, founder of Compuware Corporation and prior majority owner of the Carolina Hurricanes in the National Hockey League. “Simply put, without the support of

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IN THE NEWS Collier names Pelican as ‘Business of the Wire Month’

During the July ty Commission 9 Collier CounWire was named meeting, Pelican ty ‘Business of the Collier Counthe Month’ and recognized by was the a manufacturing Board for being County for over leader in Collier 40 years. Pelican Wire President Ted Bill, who received the are truly honored award, said “We Collier County to be named the Month’ for July.‘Business of the Since moving AWARD See page

Gov. DeSantis announces job growth grants

Gov. Ron DeSantis the Florida Departmentannounced of Economic Opportunity Florida are acceptingand Enterprise economic development project proposals for the Florida Job Growth Grant Fund. $40 million is available to fund training and public job projects that support infrastructure growth and employment in Florida. “We know

the frastructure projects importance inand workforce training has on economic development,” said DeSantis. “The Florida Job Growth Grant Fund will help Florida communities ensure they GRANTS See page

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Dr. Sandra Kauanui (left) and Noemi Ailynee Ramirez, Y. Perez (right) Jessica Sales, with - TIF Shark Daisy Montanez, Tank winners

Alondra Estrada Swap & Shop teamNeika Exulus, Young entrep reneurs share ideas, earn award s

Special to SWFBT Submitted By: Noemi Y. Perez Southwest Florida tion’s business-theme students in The Immokalee Foundad summer camp entrepreneurial recently shared ideas their Tank event modeled and garnered awards during a Shark The four-week after the popular TV show. was a partnership Business Management Pathway Coast University’sbetween the foundation and Floridacamp Gulf developed businessInstitute for Entrepreneursh ip. among them: finding plans that solved problems Students common clothes on a budget; centric finances; handling ñera; and findinggetting better sleep; planning studenta quincearestaurants suitable stricted diets. for people with reStudent teams gave presentations about ences, startup costs, their target audiprojected profits, marketing other aspects of entrepreneurial plans and Dr. Sandra Kauanui, enterprises at iTECH mokalee. Judges FGCU Director spoke during the for of Entrepreneurs Smart Companies the presentations were: Brian in Imevent. hip, Rist, The Smart Companies executive chairman; Sofia Blanno, gram allows shoppers to arrange tor of corporate intern; and Matthew Turner, Hertz The through social an app, then physically to buy, sell or swap items direcFirst place awards responsibility. central location exchange those in Immokalee. items at a Shop team of Neika of $500 each went to the MentorUs, Daisy Montanez Exulus, Jessica Sales, Alondra Swap & smart financial an app that encourages students and Ailynee Ramirez. Estrada, decisions, earned interested in dressing Aimed at students for team members second place of to make fashionably on $250 each Alex Soriano, a budget, the pro- ie Etienne, Azael Simon-Quirino Je’an Espinoza, Myrlandand Simson Devesaint.

Fort Myers Mayor

Special to SWFBT Submitted By: Karen P. Moore,

launches Divers ity Committee

SHARK See page

more inclusive city. Publisher Student Hailey Countryman asked her employer, Sanibel Captiva “It is never too the Mayor if he munity Bank, Comlate to give up had to FGCU’s College on diversity whom a team of advisors Education. your prejudices.” of Henry David Thoreau for guidance. Since he could rely on said, “We In a recent interview she can’t really say question was no, the answer to that ing to be representative we are tryat that moment Fort Myers Mayor derson felt Henof our city’s derson has known Randy Hen- a team. inspired to create just such residents and community if we don’t have diversity Ndiang’ui wanted Florida Gulf Coast University on the to make She sure the Mayor explained the council itself.” was prepared ter Ndiang’ui for professor Dr. Pe- road ahead committee drew about 10 years and asked him, for the its 18 members was a guest speaker and from the commu“Are in his class, “In- really able to handle the truth?” you nity, representing troduction to Diversity,” diversity project moved The ethnicity, forward. in Novemgender and sexualin race, ber. Henderson Beth Countryman, asked students Hailey’s moth- tity. “We can’t be a committee idenhe could do to what er, became make Fort Myers up of old white made involved with men and think the project, going a which led to we are a $25,000 donation to be in charge of diversity.” from DIVERSITY See page 11 Payment Plans Available • Discounted Merchandise Parking Options Discount • Presale • Private Parties & Exclusive Gifts on Hertz Arena Concerts & Family Shows Buy Any 19/20 & Get A $20 Membership Pack FORD’S GIFT & ‘BLADES TOTE CARD BAG Valid on any NEW

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Are we heading for a bubble? Special to SWFBT Submitted By: Karen P. Moore, Publisher

“This is a one in a million market that we’ll never see again—but we’re nowhere near a bubble,” said Denny Grimes, Residential Realtor and Market Trends speaker. “The biggest difference between now and 2005 is that we don’t have a lot of residential spec inventory now like we did back then. All of this will play out over the next year; sales will be slowing, the current exuberance in the marketplace will return to a more normal level.” But, he added, “I think we’ll still have a good future here because of the feeder states.”

Grimes was one of the region’s leading voices in real estate who convened at the Caloosa Sound Convention Center & Amphitheater in Fort Myers to present the fall Market Trends summit, drawing more than 750 attendees (including 235 virtual attendees). Led by local real estate experts Randy Thibaut, Grimes and Justin Thibaut, Market Trends provided local data, research and fact-based analysis to help real estate and business professionals, as well as real estate and business investors in Southwest Florida, understand the latest trends in the local real estate market, in both the residential and commercial sectors.

COVID-19 economic recovery moving fast in SWFL Special to SWFBT Submitted By: Karen P. Moore, Publisher

Dr. Amir Ferreira Neto, director of the Regional Economic Research Institute at Florida Gulf Coast University, recently shared the most recent findings on the impact of COVID-19 and other factors on our local economy. The purpose of RERI, Neto noted, is to track trends, interpreting impact and forecasting future impact and trends. “Money funnels here to Southwest Florida faster and leaves here faster,” he noted, “and it was no different with the impact of COVID-19.” Total GDP recovery was

faster here in Florida than the U.S. and in most states, he shared. Not surprisingly, the number of business applications in the marketplace skyrocketed during the worst of COVID-19, mainly because so many people were working from home and use of technology grew to support this occurrence. Some of these applications will become new businesses, Neto added, but not all. Neto discussed RERI’s most recent business climate survey of local business owners. “In Lee County, the business climate has been steadily recovering since the second quarter of 2020,” he said. “ It peaked in second quarter 2021 and has

IN THE NEWS The unemployment rate in the Fort Region’s unemployment still Lee County allocated Myers area was 4.6% in August, down lower than state as a whole from 7.4% reported in August 2020. $149 million through ARPA The Florida Department of Economic Opportunity announced Florida has experienced 16 consecutive months of job growth, gaining 19,400 private sector jobs over the month.

MARKET See page 5

The Fort Myers area private sector employment increased by 9,500 jobs over the year, an increase of 4.3%. The Fort Myers area labor force in

JOBS See page 15

Lee County has been allocated over $149 million dollars through the American Rescue Plan Act to combat the public health and economic severities of COVID-19. In order

dropped a little in the third quarter.” He pointed out that this slight drop could be due to the presence of the COVID-19 delta variant as well some concern about inflation. In Collier County, however, he said the economy has steadily gotten better since the second quarter of 2020. Regarding tourism, he indicated, “The last three months (through August 2021), have exceeded 2019 numbers in Southwest Florida.” Neto shared, “We all noticed that season was extended here this year.” He went on, “Our local RECOVERY See page 14

to sufficiently assist the public with funds, the county has created a Community Impact Survey which will collect data to effectively distribute funds to the areas in which people have suffered most. The feedback received will allow for the county to ARPA See page 14

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John Morgan to speak at Uncommon Evening Gala

SALUTE TO ENTREPRENEURS

Become a member at SWFL Inc. for free

As a regional chamber of commerce serving businesses in Lee, Collier and Charlotte counties, SWFL Inc. connects companies with customers, provides educational resources and works to solve regional problems that affect the business community like housing and water quality. We are proud to work with over 2,000 businesses and see firsthand the innovative ways they’re growing throughout Southwest Florida. If you are a business owner or looking to you’re your business or get involved in the community, you can become a member of SWFL Inc. today for free. Last year, we introduced a free basic membership model for businesses in Lee, Collier and Charlotte counties that you can sign up for right now. After signing up, your business will be added to our digital business directory which will help to boost your ranking in Google searches and makes you more visible to customers. Other perks while being a basic member include access to one free “Get Connected” event at SWFL Inc. where you can network and meet other like-minded business professionals. The Hub is our free-to-use community meeting space. It offers a great place to meet with colleagues, clients, and friends in a quiet, clean, and convenient setting. Located on U.S. 41 in Bonita Springs, we are right in the middle of town, convenient for every meeting. With free wi-fi and coffee, The Hub has everything you need for a successful workday away from the office. The beauty of our free membership model is that any time you’re looking to add on a product or service – attend a networking event, promote a job opening on our

SWFL Inc. social media pages, advertise in our SWFL Visitor Guide – you can buy what you want, when you need it. As the only Five-Star Accredited chamber of commerce in Southwest Florida, and as a chamber ranked in the top 1% of chambers nationwide, we offer innovative solutions to help local businesses thrive. Our free membership helps businesses at any stage expand their professional network and access helpBY TIFFANY ful products and services. And when ESPOSITO businesses in our community are Guest Columnist succeeding, it improves the quality of life for all of us. So give it a try. Visit SWFLinc.com right now, sign your business up for our free Basic Membership and start reaping the rewards. More than 1,500 businesses across Southwest Florida already are. Because when Southwest Florida businesses work together, we make (inc)redible things happen. Tiﬀany Esposito is President and CEO of SWFL Inc., a regional chamber of commerce that connects businesses to a network of customers, oﬀers educational resources to help them grow in a modern economy and actively works to solve regional issues that impact the business community Esposito is a 12-year veteran of the chamber industry and is a board member of the Association of Chamber of Commerce Executives.

The Uncommon Friends Foundation announced the annual Uncommon Evening Gala will feature John Morgan from the law firm Morgan & Morgan as the distinguished featured speaker. This year’s event, “Be Uncommon!,” will be on Nov. 10 at historic Burrough’s Home & Gardens. In 1988, John Morgan founded Morgan & Morgan after graduating from the University of Florida College of Law. Under John’s leadership, Morgan & Morgan has expanded to more than 750 attorneys across 17 states in over 50 areas of practice including national mass torts and class actions, labor and employment, civil rights, personal injury, medical malpractice, product liability, business litigation Morgan and insurance disputes. Morgan & Morgan’s tagline “For the people” has been the guiding principle for the law firm since its inception. Morgan is an active member of the Florida Academy of Trial Lawyers and has always supported policies in Florida that protect families from corporations and insurance companies. The Uncommon Evening Gala is the foundation’s signature event, celebrating the organization’s core values, as well as awarding scholarships and the Business Ethics Award. This year’s ethics award nominees are CONRIC PR + Marketing, Scotlynn USA and Sanibel Captiva Community Bank. The gala also raises funds for its mission to support character education, business ethics, scholarships and historical preservation.

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SALUTE TO ENTREPRENEURS

What every entrepreneur should know about health insurance As an entrepreneur with a small team, you may be wondering how to offer health insurance to your employees. You want them to feel valued and appreciated for the work they do. However, the costs of providing coverage can be staggering. Alternatively, the cost of losing or not getting it in the first place, a great team member, could be high as well. The employees you want working want health insurance. The first step is to understand the options in the market and the implications on your business. For example, if you have 25 or fewer full-time employees and they qualify as full-time employees under the monthly measurement method, and or the look back measurement method you could be eligible for the Small Business Health Care Tax Credit if you cover at least 50% of their health insurance premiums. This alone could make offering health insurance to your employees an expensive option, but

still an option. The second step is to understand what you need to do as a business owner or employer in order to make this happen. You have choices depending on your company’s size and structure, so it’s important that you’re aware of the law and how each component affects both employees and employers alike. Another option is to direct BY MARK your employees to the private DECHERD marketplace to select their own Guest Columnist plans. With this option, you’re not on the hook for their premiums. But you’re not really offering health care as a benefit. Rather, your employees will be responsible

for shopping and paying for their own coverage. There’s a lot to consider when it comes to offering your employees health insurance including whether to offer it in the first place or direct your employees to find coverage on their own. But, as long as you’re aware of the law and understand what may be available to you depending on how many people work for your company, you have the opportunity to help your employees obtain health insurance. Does offering health insurance to your employees sound complicated and expensive? It doesn’t have to be. Health Insurance MD can help you understand your options and reduce the cost of coverage with a customized plan for your small business. Mark Decherd is a policies and claims consultant at Health Insurance MD. Learn more at www.healthinsurancedmd.com or call (239) 271-7785.

2021 Industry Appreciation Awards coming in Fort Myers The 2021 Industry Appreciation Awards take place on Oct. 22 at 10 a.m. at Caloosa Sound Convention Center in Downtown Fort Myers. Finalists for the 29th annual awards will be celebrated and winners crowned at the event. Award categories and finalists include: Business Resiliency and Innovation: Fort Myers Brewing Company; Sanibel Captiva Community Bank; Sewing Boutique Community Steward of the Year:

Cushman & Wakefield Commercial Property Southwest Florida; Florida Repertory Theatre; The North Law Firm Startup of the Year: 239Work; Gather; Seed & Bean Market Innovator of the Year: Cigent Technology; Energy Harness Corporation; Metro Forecasting Models Manufacturer of the Year: Black Onyx World/Alikay Naturals; Nor-Tech Hi-Performance Boats; Storm Smart Small Business of the Year: Archi-

tectural Metal Flashings; Iron Ridge Insurance Services; Stickboy Creative Large Business of the Year: NeoGenomics Laboratories; Owen-AmesKimball Company; Stevens Construction For more information about or to get involved with the 2021 Industry Appreciation Awards, contact Horizon Foundation Chief Fundraising Consultant Dilman Thomas at (239) 810-1948 or dthomas@horizon-foundation.com.

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SALUTE TO ENTREPRENEURS Charlotte County small business class starts in October

Individuals who are thinking about starting their own business but need a plan to guide their start up are invited to apply to the Goodwill Southwest Florida MicroEnterprise Institute, scheduled for Oct. 11 to Nov. 18. The MicroEnterprise Institute is a six-week training program to help emerging entrepreneurs start new ventures and grow small businesses. Graduates complete a comprehensive training course and prepare a solid feasibility plan. They work with mentors who are successful businesspeople and hear from subject matter experts in areas of accounting, legal, marketing, insurance and funding. An easy-to-use workbook, used by organizations across America, assists students in transforming their vision into a plan for a successful business launch. Classes are scheduled from 6 p.m. to 8:30 p.m. on Monday and Thursday evenings and will be held in the Charlotte County Community Resource Center inside of the Kings Highway Goodwill on Peachland Boulevard in Port Charlotte. This is what graduates are saying: “My experience was great. This course taught me a lot and pushed me to think outside the box.” – Alexandria “My business coach in the class was as a pleasure to work with and learn from, she was knowledgeable and very helpful in the class.” – Nicole To apply, call (239) 995-2106, ext. 2215 or visit www.goodwill swfl.org/microenterprise, The six-week session is $80. Volunteer hours can be substituted for the fee if income requirements are met. The Goodwill Southwest Florida MicroEnterprise Institute is administrated by the nonprofit Goodwill Industries of Southwest Florida, and is part of Goodwill’s mission of providing life-changing opportunities toward independence for those with disabilities and disadvantages. For more information about Goodwill Industries of Southwest Florida, visit www.goodwillswfl.org.

OCTOBER 2021

Southwest Florida BUSINESS TODAY ®

Page 5

Sunseeker Resorts resumes construction of Charlotte development

Allegiant Travel Company announced construction on Sunseeker Resort Charlotte Harbor will resume this month. The announcement was made by Allegiant President John Redmond at a press conference on the resort’s construction site in Charlotte County. Construction on the project, a first-of-its-kind destination resort in Southwest Florida, was suspended by the company in March 2020 due to the COVID-19 pandemic and its outsized impact on the travel and hospitality industries. “When we first announced a temporary pause in construction, we always envisioned restarting within 18 months. I’m happy to say that we’re right on track,” Redmond said. “Very soon, you’ll see spinning cranes and construction crews in action again, working to finish what will be an incredible, integrated resort experience bringing exceptional value for both our guests and local residents. I’d like to thank the community of Punta Gorda for its support and patience during these unprecedented times.” The resort will feature approximately 500 hotel rooms, more than 180 extended stay suites, 55,000 square-feet of meeting and conference space, 19 restaurants and bars, and retail outlets along a scenic har-

Rendering shows plans for the. Sunseeker Resort Charlotte Harbor bor walk. A state-of-the-art fitness center and spa will be located on the top floor of the hotel tower. Construction is anticipated to be complete in 18 to 24 months. The project will have a significant impact on the local economy, eventually employing about 800 construction workers. Once the resort opens, approximately 1,150 people will be employed, making Sunseeker Resort Charlotte Harbor the third largest employer in Southwest Florida. Renovations on Kingsway Golf Course, one of Sunseeker Resort’s premier amenities, will begin in the fall. When completed, the club, located 10 min-

SWFL companies, lone inventors receive patents on innovations Special to SWFBT Submitted by Jacob Ogles, Editor Southwest Florida isn’t just a burgeoning place for business. It’s the home of invention. From major innovation companies like Arthrex to individual inventors, entrepreneurs through the region steadily pull patents here in hopes of conceiving the next million-dollar idea. He’s a few recently approved concepts. Arthrex: The medical product firm won multiple patents in the last month, including for soft suture-based anchors for bone repairs. In early September, the company separately had designs approved on an adjustable self-locking loop construct useful for tissue readjustment. A patent was also awarded for a method of reinforcing soft tissue grafts with suture loops and needle constructs. Chagrinovations: The Naples company just received a patent on a new strap tie-down with two components, a base frame and a lever arm, along with a cam and locking mechanism. RTU Pharmaceuticals: The Naples company received a patent on a particular composition of pharmaceuticals to create ready-to-use ketorolac formulations. Alexander Barsky: The Naples inventor obtained a patent as an individual on a vacuum oven with a two-

sided door system. The device can treat hazardous materials and can be used in manufacturing rooms. Ronald Beck: A Naples inventor working with CommScope Technologies developed a fiber distribution hub with a specialized cabinet with doors to access primary compartments. Christopher McKinney: The Port Charlotte inventor developed a new vehicle handlebar heating system by hollowing out a bar with an internal cavity and circulating heating fluid through it. Matthew Pacetti: The Bonita Springs man conceived of a ladder storage kit employing a magnet along the longer axis that mounts to a leg of the ladder to engage a ferromagnetic storage tool. Richard Shevelow: The Estero inventor, with PICA Product Development, conceived of a wireless external defibrillator monitoring service. It receives data through a remote device and sends medical alerts. David Smith: The Cape Coral inventor created a new flashing tool with an elongated rod with a handle on one end and a spade on the other. Richard Waggoner: The Punta Gorda inventor working through Indmar Products invented a marine engine exhaust system with secondary air injection and an exhaust manifold configured to a compressed ambient air system and a catalytic converter.

utes from the resort, will be open exclusively to members and resort guests. Renowned golf architect Kipp Schulties will lead the course renovation. A veteran of more than 60 golf course design projects, Schulties is known for his work on Boca Raton Resort & Club and Quail Lodge Resort & Club, two of the elite 27 golf resorts in the world, according to Great Golf Resorts of the World. Over the past two decades, Schulties and partners have redesigned dozens of the highest-profile clubs in South Florida, many of which were originally designed by a who’s-who of famous golf course architects. Kingsway’s renovation is slated to include all components of club operations – including full redesign and refurbishment of the golf course, with replacement of all turfgrass, irrigation and drainage systems; expansion and enhancements to the club’s driving range, putting, chipping and bunker practice areas, refurbishment of the clubhouse, restaurant and event space, as well as relocation of the maintenance facilities to improve the playability of the course. The reimagined golf course is anticipated to open simultaneously with Sunseeker Resort Charlotte Harbor.

MARKET PAGE 1 Randy Thibaut, founder of commercial real estate agency LSI, commented, “It really feels good to be in a real estate market like we’re in now. A global tragedy lit the fuse to our local real estate market today: residential permits have continued to climb throughout the pandemic.” He continued, “But what’s different between now and the boom of 2005, that ultimately resulted in the real estate bubble, is that we’re at half the residential permits today in Lee, Collier and Charlotte counties that we had in 2005. From 2003 to 2006, we had 127,000 permits in four years; from 2007 to 2020 we had 129,000 permits.” Regarding the commercial side of the market, Justin Thibaut of LSI noted, “Believe it or not, base factor occupancies are trending up in most sectors here in Southwest Florida. In some sectors occupancy is at a record high... We’ve got 2.2 million square feet in new industrial in Lee and Collier counties, mainly in distribution facilities. Out-of-market commercial warehouse property buyers that need to have their products physically available for delivery within ‘the last mile’ of online customers, are driving this latest activity.” Randy Thibaut added, “Multifamily has also turned around and is growing again; renting is back up and building residential multi-family housing is back up, but people are still gravitating to single-family

homes. They’re being gobbled up and showing no sign of stopping at this point.” Justin Thibaut shared, “Even retail is bouncing back with what we’re calling ‘internet-resistant’ retail like oil change businesses, grocery stores and car washes. And while, yes, there are—still—a lot of cash buyers out there, we’re also seeing a rise in credit tenants and long-term leases.” “In a normal market,” Randy Thibaut pointed out, “we have a twoyear supply of lots and we certainly don’t have that now. Question: Are there any lots left? Answer: In LaBelle. Question: Are there any land deals to be made? Answer: In North Fort Myers. In Collier County, if you’re wondering where the land is, the answer is, ‘Go east, young man!’ In Babcock Ranch, they made the move to lower home prices and now it’s on fire. The point is, when we’re talking about home buyers, it’s really not about location, it’s about the experience and the land.” Finally, Justin Thibaut pointed out, as a final indicator of the future of growth in the region, it’s important to note developers are back on the hunt for hotel sites in Lee, Collier and Charlotte counties. Sunseeker is back on the move in Charlotte County. Margaritaville just broke ground on Fort Myers Beach and the Great Wolf Lodge is in-process in Collier County. Apparently, the growth just keeps on coming here in Southwest Florida… with no bubble in sight, according to Market Trends presenters.

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Southwest Florida BUSINESS TODAY ®

E Awards recognize hospitality’s heroes

The Lee County Visitor & Convention Bureau held its 21st Annual Elaine McLaughlin Outstanding Hospitality Service Awards to honor tourism professionals and their extraordinary customer service and dedication. The “E Awards” ceremony, held at the Caloosa Sound Convention Center & Amphitheater in downtown Fort Myers included approximately 400 guests. Presented by the VCB and The News-Press Media Group, the E Awards recognize Lee County’s hospitality industry employees for going above and beyond to take care of visitors. Residents, visitors and colleagues wrote 627 nominations for 467 individual nominees. Awards were presented in seven categories. A new category, the Masked Hero award, recognizes a tourism employee who provided selfless acts of support for visitors and residents during the COVID-19 pandemic. The Honor of Distinction award goes to the overall nominee who exemplifies the best in cus-

tomer service and spotlights the hospitality professionals who love their jobs, love the destination but, more importantly, love people. Selected for their exemplary service, here are the top winners: • Other Services/Businesses: Christopher Comer, Tree West • Restaurants: Jennifer Kleckner, Casa Bacardi • Transportation: Jennis Phillips and Cherry Kletschka, Transportation Security Administration • Good Samaritan: Officer Jacob Brunick, Lee County Port Authority Police Department • Attractions: Jake Graddy, Holiday Water Sports • Accommodations: Jessica Mazza, Holiday Inn Edison at Midtown • Masked Hero: JoAnn Elardo, Wicked Dolphin Rum Distillery • Tourism Boss: Jeff Webb, Hampton Inn & Suites by Hilton Fort Myers-Colonial • Honor of Distinction: Marina Bloetz, South Seas Island Resort

Finalists announced for GrowFL Companies to Watch GrowFL announced 82 second-stage growth companies are now in the running to become the next class of GrowFL Florida Companies to Watch Honorees. That includes nine finalists from Southwest Florida. Now in its 11th year, the finalists will work to complete a second-round application and go through a final round of judging in the coming weeks. The finalists were selected from more than 600 nominations from throughout Florida and represent a diverse group of growing companies representing a variety of industries. Southwest Florida’s finalists include: Commercial Property Southwest Florida (Lee); CONRIC PR + Marketing (Lee); Creative World Schools Franchising (Lee); Elite Jets (Collier); Energy Harness (Lee); Green & Clean (Lee); Paragon Flight Training (Lee); Pro-Tec (Collier); and Trilogy Laboratories (Lee). Companies to Watch was developed by the Edward Lowe Foundation as a way to recognize and honor second-stage companies that demonstrate high

Don’t forget to post your in-person and virtual events on our B2B events calendar at www.swfloridabusinesstoday.com/calendar performance in the marketplace with innovative strategies and processes. In addition to evaluating past growth and projected success, applicant companies are judged according to their special strengths and impact in their markets, communities and within the state. To qualify for the award, companies must have between 6 and 150 employees and revenue between $750,000 and $100 million in 2020. Knowing these companies were reporting employment and revenue during the height of the pandemic, it is remarkable to note that in 2020, the companies reported a total of more than 2,200 jobs and generated close to $500 million in revenue. These companies anticipate growth of 64% in revenue and 39% in employment by the end of 2021.

OCTOBER 2021

SALUTE TO ENTREPRENEURS

Cape Coral student recognized internationally for invention

Serena Kasai-Hazekamp, a rising 9th Grader from Cape Coral, was honored recently for her ingenuity at the first ever Invention Convention Globals presented Raytheon Technologies. Serena’s invention, FLDORI Alert System: Don’t Forget Your Child, placed third in the 6th through 8th Grade category. She previously won the Innovation in Automotive Award, presented by Maxim Integrated and Third Place in the 8th Grade Category at Invention Convention U.S. Nationals held this June. Kasai“My invention is designed to reHazekamp mind parents of a child in the backseat,” she said. “When the parent walks away with the key fob, it communicates with the brain through Bluetooth Low Energy. Once the BLE signal reaches a certain point of weakness, it sounds an audible alert system, capturing the parent’s attention. This invention is free from a smartphone application, and can be installed without professional assistance.” Serena was among 185 students from participating Invention Convention Nationals programs in the United States, Mexico, Singapore and China who competed in the event. “Our hope with this first global competition was that students could gain inspiration from each other and see that the problems they are facing really aren’t that different, no matter where they live,” said Patricia Mooradian, president and CEO of The Henry Ford. “It has been an amazing experience to see these young people from around the world tackle important topics that we all are facing – from climate change and the environment to health and safety issues. Their perseverance and ingenuity should be an inspiration to us all.” Invention Convention Globals participation was by invitation only. To participate, students were required to submit a video presentation of their invention, a prototype, an inventor’s logbook showing the journey of their invention process and a display board highlighting key points of the invention process.

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Page 7

COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida

What’s in commercial real estate leases? When you sign a commercial lease, it is a legally binding contract. It is important to fully read and understand the terms within the contract, so you understand your responsibility as either the tenant or the landlord. This is a brief overview of some of the items to be aware of in commercial leases and is by no means a comprehensive breakdown. It is always important to have a lawyer or legal team review any commercial leases. Dates (commencement date, rent commencement date, expiration date, and lease term) When it comes to a commercial lease there are various dates to be aware of. You will want to know when your lease officially starts, when you start paying rent (which may or may not be the same date as the commencement date) and when your lease ends. The landlord and tenant will agree upon an acceptable lease term which could be days, years or months. Money owed upfront and over time (security deposit, prepaid rent, payment schedule, late fees, and default) It is vital to have a clear understanding of what you owe once the lease is executed. This can include a security deposit and/or prepaid rent such as first month’s rent and/or last month’s rent. You will also want to familiarize yourself with the schedule. What do you owe over the course of the lease? Does it increase over time? Does the lease require percentage rent? If so, you will want to budget accordingly. Furthermore, if you don’t pay your rent before the determined due date, what late charges will you have to pay and what are the default consequences? It is important to understand what your obligations are under the lease as you may be subject to late fees, legal fees or other financial consequences if you do not pay on time. Lease type Depending upon the type of lease you have, different rates apply to different contracts. Is your lease a triple net (NNN), modified gross, gross or other type of lease? If it is triple net (NNN), what do the operating expenses (OE) fees include? Common area maintenance (CAM) is another term to be familiar with that typically includes management fees, administrative fees, roof repairs, landscaping, parking lot

maintenance, building repairs, etc. Additionally, if a lease is triple net real estate taxes and insurance are also included in operating expenses. The majority of leases call for an operating expense reconciliation process after BY STEPHANIE year end (a true-up MARTINEZ or reconciliation of A look at commercial real estate trends & topics in Southwest Florida Guest Columnist your monthly operating expense contribution for the year compared to your actual pro-rata share of the operating expenses for the year). In some instances, you may owe an additional amount for operating expenses and in some cases, you may receive a refund if you overMarco Island Italian Deli and Market features seating for 150 patrons, a paid for the year. Real estate professionfull-service bar and abundant outdoor seating. als can provide more information about operating expenses and CAM. You can talk to an agent, broker, commercial property management company and/or real estate lawyer. Heatherwood Construction has The property features seating for Gross receipt reporting completed construction on the Mar- 150 patrons, a full-service bar and Many leases require the reporting of co Island Italian Deli and Market. abundant outdoor seating. gross sales or receipts to the landlord This facility is a beautiful The project manager was Brian and in some instances percentage rent 4,316-square-foot building located Blackwell and John Tiseo was the may come in to play. This occurs if your on Park Avenue on Marco Island, Superintendent. sales for a certain period of time eclipse across from Veterans’ Community The project was designed by a predetermined breakpoint amount that Park. MK Architecture. will be noted in the lease. Essentially, if your sales go over a specific amount you may have to pay a percentage based HEALTHCARE SERVICES GROUP on your gross sales. Use Leases typically have use clauses that outline what type of business you will be permitted to conduct at the premises. For example, if your use is for cutting hair, you cannot conduct other types of business in the premises. Common area There are certain areas on the property that may be considered common area. Understand your responsibilities associated with common areas including allowed parking. MEDICAL SITE SELECTION CONSULTANTS Healthcare Tenant responsibilities and landlord Services Group provides a full VALUATIONS responsibilities range of real estate services You will also want to make sure TENANT REPRESENTATION including acquisition and disposition strategies, advisory you have a clear understanding of who SALE/LEASEBACK and transaction services, asset and property management, is responsible for what. For example, as well as development and financial consulting services if repairs need to be made to the roof, DUE DILIGENCE

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Page 8

Southwest Florida BUSINESS TODAY ®

OCTOBER 2021

COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida

Choose the right commercial professional for you THERESA BLAUCH-MITCHELL, CCIM

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CCIM is the most prestigious designation commercial real estate professionals can achieve within the industry. Graduate-level education, coupled with industry-leading technology tools, practical proven experience, and in-depth knowledge of their local markets, gives CCIMs the ability and the credibility to conduct business confidently and successfully. By partnering with a CCIM, you effectively utilize the top-level, most reliable performers in the industry: with an average of 19 years of experience, 70% of CCIM members hold executive-level positions and 90% of members refer clients to other business services. When you use a CCIM, you choose the most credible professional in the business.

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• • • • •

Daily Updates Breaking Business News B2B Events Calendar Commercial Real Estate Directory Professionals who are “Going Places” ... and much more at

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CCIM designees are bound to the strictest ethical guidelines and standards of practice in the industry today. In addition, each CCIM has successfully completed a graduate level program comprised of 160 hours of education. If you ask around the industry, you’ll learn that companies and other real estate professionals are more likely to seek out experts who possess the CCIM designation, as they know CCIM stands for trust, knowledge and reliability. When you use a CCIM, you choose experts with integrity.

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OCTOBER 2021

Southwest Florida BUSINESS TODAY ®

Page 9

COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida

Choose the right commercial professional for you MARIA STOPA, CCIM

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• • • • • •

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• • • •

BROKERS ANALYSTS ADVISORS CONSULTANTS

CONI DEAN, CCIM Lee County Broker/Owner with 20+ years local experience. Specializing in investment portfolios, aquisition to disposition, residential, commercial and redevelopment

VENTURE REALTY & INVESTMENTS

239-980-5922 venturerealty@earthlink.net www.sellsfloridarealestate.com

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RETAIL INDUSTRIAL RETAIL SPECIALTY LAND RESIDENTIAL REDEVELOPMENT

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What does having the CCIM designation mean to me? RANDY KRISE, Krise Commercial Group As a long time CCIM Designee I have a long-term perspective on what the CCIM Designation does for the designee. I was a player who wanted to be an investor in real estate all my life. Prior to my CCIM training I purchased 14 properties. I made somewhere north of $5,000,000. Had I been a CCIM I would have purchased mostly income-producing properties. Land made me money but land only costs you until you sell. CCIM taught me how to evaluate an investment to guarantee success. Income- producing property pays for itself and increases your ability to build a portfolio. Now I think 15 properties and $10,000,000 with a CCIM education and certification—and so should you!

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GERALD HENDRY, MAI, Maxwell Hendry & Simmons Appraisers To be honest, 15 years ago when I obtained my CCIM designation, I thought it would be cool to have a few more letters after my name. However, being in the valuation industry and not a practicing real estate agent, I wondered if there was any true benefit to me? Oh how my thinking has changed… This group has taught me the value of networking, effective leadership, and has afforded me a strong core group of friends in the industry. My CCIM friends are always available with a simple phone call or text. So, it’s still cool to see those four letters after my name, but I am grateful for the friendships and opportunities CCIM has afforded me, my firm, and my family.

JACK MARTIN, CCIM Lee, Collier, Charlotte & Hendry Counties

30 years of experience in Florida real estate with 20 years in Southwest Florida. Servicing in all facets of commercial real estate, both sales and leasing, and specializing in shopping plazas and strip centers.

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ENN LUTHRINGER, CRE Consultants CCIM is a network of professionals that is bigger than any single corporation, company or flag in the commercial real estate industry. Too many times commercial agents believe that being associated with a large company will give them business, recognition or credibility. That little pin is recognized around the world as identifying the person wearing it as a professional who speaks a language that is recognized on a universal basis.

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• • • • •

RETAIL OFFICE INDUSTRIAL LAND INVESTMENT SALES & LEASING

Page 10

Southwest Florida BUSINESS TODAY ®

OCTOBER 2021

COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida

Airport tower signals rapid growth landing in Lee County

The scaffolding has been removed from the new air traffic control tower at Southwest Florida International Airport (RSW), serving as a visual reminder of the rapid growth and transformation of our region. The travel and tourism industry has long been Southwest Florida’s major economic driver. While travel trends are still slow in other parts of the country, travel to our area has never been more popular—and its impact on our commercial property market is substantial. According to the Lee County Port Authority, more than 814,000 passengers traveled through RSW in July—an increase of 42% over July 2019 and a jump of 218% over last year. To accommodate our region’s popularity as a travel destination, the airport itself is expanding. In addition to the new control tower, plans are underway for a four-story terminal building expansion and other support structures. Last month, RSW hosted a job fair for more than 200 positions at multiple companies located within the airport. Modifications to the airport itself are only a small part of the changing landscape around RSW, however. Construction crews have become a common site in the airport vicinity over recent years, in particular along Three Oaks Parkway near Alico Road. Commuters on I-75 have watched a series of new buildings rise on the horizon just west of the interstate, including the new NeoGenomics world headquarters, Scottlynn USA’s North American headquarters and a new corporate office and surgery center for Frantz EyeCare. The Alico Road corridor between I-75 and U.S. 41 has a staggering number of commercial building projects currently in planning, permitting and construction. Many of these are large commercial developments like Three Oaks Marketplace, a 400,000-square-foot commercial/industrial mixed use planned develop-

ment on Alico Road. An assortment of other industrial and commercial parks and distribution and logistics centers are planned for this area, including a planned 278,000-square-foot Amazon lastmile distribution center with 78 loading docks. Along Daniels Parkway and the north side of Southwest Florida International Airport is the new Skyplex, a 1,150-acre developBY GARY ment area that is becoming home TASMAN to office buildings, industrial Guest Columnist warehouses, corporate headquarters, retail, restaurants and aviation-related industries. With close proximity to workers from Fort Myers, Gateway and Lehigh Acres, it’s no surprise large local employers like Gartner and Alta Resources have pounced on Skyplex as a location for their new facilities. Other parcels near the airport display a diverse array of future purposes. A Porsche dealership has joined its neighbors Audi of Fort Myers and Rockstar Harley Davidson near I-75 and Daniels Parkway. Best Home Services plans a 62,000-square-foot headquarters off of Three Oaks Parkway. South of the Airport, the proposed Florida Gulf Coast Technology and Research Park will boast nearly 5 million square feet of retail, commercial and industrial space. More planned residential units are coming as well, including Esplanade Lake Club and Wildblue off Alico Road as well as Timber Creek near Daniels Parkway. Perhaps the most surprising thing about the development near RSW is the relative dearth of hotel properties near the airport. Most major airports are

surrounded by hotels, perfect for weary business travelers. With large businesses now setting up camp near RSW, our region will need more inland hotels with proximity to the airport and major employers. We’ve already begun to see a small shift in this direction. This summer, Home2 Suites by Hilton opened a 123-suite hotel near Terminal Access Road and Ben Hill Griffin Parkway. Further to the south, the Florida Gulf Coast Technology and Research Park proposes to develop up to 240 hotel/motel units, and on the other side of the interstate, the Avid Hotel plans to provide 130 rooms at the Three Oaks Marketplace. On the heels of all this development, we should anticipate a future hotel and conference center near the airport, which would cement Southwest Florida’s transformation from tourist destination to commercial hub. Currently, the region’s convention business is limited to beachside resorts and downtown conference centers. With plentiful retail and restaurants at nearby Gulf Coast Town Center and Miromar Outlets, a full-size conference hotel near the airport is a likely prospect for the future. Gary Tasman is the founder of Cushman & Wakefield Commercial Property Southwest Florida and serves as its CEO and principal broker. The firm provides commercial real estate solutions, locally and globally, in every stage of the real estate ownership and development process, representing clients in buying, selling, leasing, financing and valuing assets. Contact Cushman & Wakefield Commercial Property Southwest Florida at (239) 489-3600.

Sale of Palm Restaurant Group chosen as 2021 Distressed M&A Deal of the Year

Introducing ALDEA

Groundbreaking: Fall 2022 Occupancy: Spring 2024 MIDTOWN FORT MYERS’ INTIMATE URBAN LIFESTYLE EXPERIENCE Studio, One and Two Bedroom Apartments Located between Central Avenue, Market Street and Fowler Street, ALDEA is one of the first planned communities for Midtown and is expected to transform the landscape of the surrounding area. 300+ units housed within two residential buildings looking inward to multi-functional courtyard spaces.

A fitness center enables an active lifestyle and a parking garage provides a desired convenience.

M&A Advisor, which is the preeminent organization recognizing excellence and honoring achievement in the area of restructuring, has chosen the sale of The Palm Restaurant Group as the 2021 “Distressed M&A Deal of the Year” ($50 to $100 million) for the 15th Annual Turnaround Awards. Jerry McHale of McHale, P.A., served as the chief restructuring officer for the case. The Annual Turnaround Awards recognizes those that reached the pinnacle of the distressed investing, bankruptcy and restructuring industry over the past year. The awards was presented during a gala dinner celebration during the 2021 Distressed Investing Summit in New York City in September. Winners were selected from among hundreds of nominations in category groups including Restructuring of the Year, Transaction of the Year, Refinancing of the Year, Sector Deal of the Year, Firm of the Year, Turnaround Product/Service of the Year and Professional of the Year. Evaluation of the nominees and selection of the winners

Don’t forget to post your in-person and virtual events on our B2B events calendar at www.swfloridabusinesstoday.com/ calendar was completed by prominent members and experts in the M&A, finance, and turnaround community. “These award winners represent the best of the distressed investing and reorganization industry over the past year,” said Roger Aguinaldo, founder of the M&A Advisor. “We are in an environment that has seen whole industries, such as retail, restaurants, leisure and hospitality experience depression-like effects. Despite it all, these professionals have helped companies during these difficult times. We recognize these leading transactions, firms and individuals that represent the highest levels of performance.” McHale, P.A. has been serving the Southwest Florida community since 1993 and specializes in forensic accounting, receiverships, litigation support and bankruptcies.

Vacant land in Fort Myers sells for $800,000

A mix of studios, one and two bedrooms, several of which offer additional dens.

Randy Krise, CCIM

Commercial Real Estate Broker Cell: 239.633.8672 Email: Randy@KriseCG.com www.KriseCG.com

For more business news, visit www.swfloridabusinesstoday.com

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CFCW Propco Colonial has purchased 1.1 acres of vacant land located on Colonial Boulevard in Fort Myers for $800,000 from Amtel Group of Florida. Lane Boy, executive director and broker, CCIM of Cushman and Wakefield Commercial Property Southwest Florida, represented the seller in negotiating the transaction. Cushman and Wakefield Commercial Property Southwest Florida de-

livers integrated solutions by actively advising, implementing, and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. They cultivate long term relationships, advising clients in buying, selling, financing, leasing, and managing assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, site selection and space location assistance.

OCTOBER 2021

Southwest Florida BUSINESS TODAY ®

Page 11

COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida

Seagate begins Vertical Construction of Rice Insulation & Glass Seagate Development Group has completed the building pad and commenced vertical construction of Rice Insulation & Glass’ 35,000-square-foot facility at Alico Trade Center. This will be the first tenant at the 40-acre, Seagate-owned business park just off Alico Road and I-75. When completed, it will include 3,000 square feet of office space for sales and management teams, such as a reception area with a workstation, Seagate Development Group has completed the a conference room, four oversized offices with 10 building pad and commenced vertical construction of workstations, three standard offices, training and Rice Insulation & Glass’ facility at Alico Trade Center. break rooms, closets and restrooms. Additional space is reserved for a warehouse of 100 parking spaces. It will be surrounded by other single-tenant, flex insulation, glass, shower door and shelving materiand/or industrial buildings. als as well as high-dock and grade-levelAdoors andat commercial look real estate trends

“We are honored to have Rice participate in our design-build process – during which we serve as the single point of contact and manage all parties involved in the project,” said Matt Price, CEO and partner at Seagate Development Group. “After discussing their needs, we came up with a solution that should improve operational efficiencies without the typical barriers of a multi-tenant environment they are accustomed to. The Alico Corridor was strategically chosen, based on location within the market and access to I-75.” This freestanding building is projected to be complete in the fourth quarter. Studio+ is the architect, while Quattrone & Associates is the civil &engineer. topics in Southwest Florida

COMMERCIAL REAL ESTATE MARKET

LEASE PAGE 7 HVAC, walls or foundation, who is responsible for repairing the items? There may also be deadlines for repairs and proof the repairs were completed satisfactorily. Tenants may also be responsible for maintaining specific items within the space. Business license and occupancy Depending on your location, your city and/or county may require certain licenses in order to conduct business or occupy the premises. This should be researched prior to signing a lease to ensure your use is permitted and what costs may be associated with any such licenses or permits. Utilities Based on the type of lease you have signed, you may or may not be responsible for the payment of utilities. Additionally, if you install something for utility function you may have to seek landlord approval. Expenses for these types of projects may be at the expense of the landlord or tenant depending on the circumstance. Alterations If you plan on altering the space in any way, you are encouraged to contact the landlord to see if their approval is needed. Additionally, it is also important to understand that anything that becomes permanently attached to the premises may become the property of the landlord after the lease expires. Please review your lease accordingly to fully understand the alteration/improvement process.

Signs If you want a sign for your business, the landlord may have to approve it. Some signage may also not be permitted. There may also be specific style choices that the landlord wants to ensure continuity at the property. Signage may include window/door signs, storefront signage, marquis signs as well as monument and pylon signs. Not all such signage is available at every property and you should be sure to negotiate any desired signage in the lease agreement. Personal property (FF&E) As a landlord or as a tenant, ensure you know the terms surrounding personal property (furniture, fixtures and equipment). If, for example, there is a leak, or a pipe burst and it causes damage to personal property, who is responsible for recovery, replacement or repair? Insurance The lease will typically describe the type of insurance you need to lease the space. It may breakdown the specific type of insurance you need, what limits are required as well as the deadlines in which you need to provide proof of your insurance to the landlord. Typical types of required insurance are liability, property and rent loss. It is always a good idea to discuss the insurance requirement in the lease with your insurance provider to understand the costs associated with obtaining any necessary coverage. Entry You will want to know when the landlord is allowed access to the unit. This may be because of repairs needed to be made. Landlords might have to provide tenants with advance notice.

Right of entry protocols are typically included in the lease. Assignment and Subletting You may or may not be allowed to sublet or assign the space. Typically, landlord approval will be required. Moving Out When you move out, there are usually expectations regarding the condition of the space when it is returned. The contract may also address how the space must be returned to the landlord. Leases usually have holdover language that allows a consequence if the tenant does not vacate or renew the lease. Typically, this would entail monthly rent increasing to 150% -200%. Lease Exhibits Many leases will include exhibits which can range from personal guaranties, rules and regulations, legal descriptions, construction, special stipulations, etc. A full understanding of all exhibits should be part of a tenant’s due diligence process before signing a lease. While we covered the basics of what you might see in a commercial lease, this is not a complete description of this legally binding contract. It is solely a highlight of some of the items to be aware of that are frequently addressed within commercial leases.

CBIA presents 2021 Building Industry Panel

The Sales & Marketing Council of Collier Building Industry Association will present “Deconstructing the Construction Industry,” its annual building and real estate industry panel, on Wednesday, Oct. 20 at the Hilton Naples on Tamiami Trail North. Led by moderator Ryan Benson, principal of A. Vernon Allen Builder, panelists include industry experts Nick Casalanguida, senior vice president of development for Barron Collier Companies; Thomas J. Jones, principal/ director of design for JMDG Architecture Planning and Interiors; John M. Gleeson, senior vice president of development services for Premier Sotheby’s International Realty; Claudine Leger-Wetzel, president of sales and marketing for Stock Development; and Rich McCormick, Southwest Florida Division president for Pulte Group. The 2021 panel is sponsored by B-Squared Advertising. Doors open at 5:30 p.m. for networking and hors d’oeuvres; the panel presentation will take place from 6:15-7:30 p.m. To RSVP, call (239) 436-6100 or email Nancy@cbia.net by Oct. 8.

Stephanie Martinez is the marketing coordinator for Sunizo Superior Realty Management, a commercial property management company. Sunizo is an industry expert in commercial real estate in the Southwest Florida community. Contact stephanie@sunizo.com or (239) 694-6878.

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Page 12

Southwest Florida BUSINESS TODAY ®

OCTOBER 2021

COMMERCIAL REAL ESTATE MARKET A look at commercial real estate trends & topics in Southwest Florida

SALUTE TO MEMBERS OF THE SWFL CRE COMMUNITY—PAST AND PRESENT

Larry Steinborn: Unwavering advocate and loyal father

“I have an idea that the only thing which makes it possible to regard this world we live in without disgust is the beauty which now and then men create out of the chaos. The pictures they paint, the music they compose, the books they write, and the lives they lead. Of all these, the richest in beauty is the beautiful life. That is the perfect work of art.” - W. Somerset Maugham

Cristin Madden: Role model shows strength to rise from fall Cris will probably not be happy with me that I’m writing this. She is a great networker, which is how she and I originally met many years ago, and very active in the commercial real estate networking community, but she is generally kind of reserved until you get to know her. What she has gone through and accomplished this year simply amazes me, however, so I wanted to share a bit with you about her recent journey. Early one Sunday morning, back in the spring of 2021, Cristin, an avid cyclist, was out biking with a fellow cyclist. Both she and her biking partner were hit by a car. The driver never stopped and Cristin’s riding partner, who was not from this area, was killed instantly. Cristin suffered devastating injuries—both physical and emotional.

But she is a fighter and fiercely independent. When someone offered to have a fundraiser for her to help with medical bills, Cris declined. She simply began her journey down the long hard road to recovery. When I saw her early this summer for the first time since the Madden accident, she looked frail and unsteady on her feet. Contrast that with when I saw her just a few weeks ago--when she told me about the trip she was about to undertake— hiking the Grand Canyon. I kid you not. What an amazing journey and an amazing role model Cristin is for all of us.

Ron Struthers: A visionary whose legacy lives on There are those people who do a lot and get a lot of recognition for it—and that is all well and good. Then there are those people who do a lot to build their businesses—again, all well and good. Then there are those people who have true vision—the kind of people who clearly see that something can be achieved and set out to make sure the vision is realized. It may or may not be of benefit to them or their businesses. They just see the opportunity and set things in motion. It can be one small thing or several big things. Ron had a vision for “one little thing” in the big scheme of things of his life that absolutely moved my newspaper business to an entirely different level. As most visionary people are, he did not like to be bothered with the details of execution. He drove

me nuts because he would start something and then just leave me “hanging.” In one 11 p.m. weeknight phone conversation I had with a mutual colleague, we were both ready to kill him. Seriously. But along with this mutual colleague’s devoted assistance, we were able to make Ron’s vision a reality. Although he rarely Struthers advertised in SWFBT, even with his recent passing, his legacy to the newspaper and our community lives on in every single edition. If not for his creative insight, SWFBT would not be nearly as successful and well-received as it is today. Thank you, Ron.

Larry was SWFBT’s longest-running advertiser— his commercial real estate/business brokerage ad was in the newspaper without missing one edition for 13 years. He was quiet and kind of shy, but when he felt strongly about something, he was not shy about sharing his views. His loyalty was unwavering; once he made up his mind to support something he became a devoted advocate. I don’t think he ever signed an ad agreement with me—which would not make my business attorney very happy--but once he started advertising, I knew he was “in.” He was devoted to nothing more strongly than his daughter. Since Larry ran his ad monthly, I talked with him at some length almost every month for 13 years. He Steinborn talked a little about his business, a little about his clients, he shared very few personal details. But get him talking about his daughter and his pride in her, love for her and devotion to her, was apparent. She was the source of his joy and sustenance. When she was 4 or 5 years old, Larry would bring her to the commercial real estate networking meeting we both attended and she would sit quietly off to the side and color. So of course, we all got to know her. When she was older and joined the Girl Scouts, she and Larry knew they had a “built-in” client base for Girl Scout cookies. I sure don’t need Girl Scout cookies, but I sure wasn’t going to say “no” to Larry and his daughter. Larry was a stand-up guy and a doting Dad who quietly went about his business. He will be sorely missed by those of us who had the honor to know him. But it is clear he has left the world a beautiful legacy. When you simply SEE his daughter—you can see the bright future that awaits her, a future in which Larry had so much hope.

Maryann Mize: Knowledge of ﬁnance, real estate fed a meaningful career After a long career in banking, senior vice president and senior credit officer Maryann Mize retired this past July after 32 years with Charlotte State Bank & Trust. As senior vice president and senior credit officer, she was responsible for overseeing the bank’s commercial lending operations with extensive experience in several facets of commercial lending including industrial, office, development, multifamily and hospitality. In addition to her knowledge of banking, Mize is also CCIM certified, a prestigious designation earned by fewer than 10% of all commercial real estate professionals. Mize has been a CCIM Institute instructor since 2008. She has served as panel member,

presenter, and moderator at CCIM national conferences. She also contributed her time and expertise to local boards and organizations. Among the prestigious positions Mize held in the community over the years, she served as president of the Charlotte County Chamber of Commerce and was inducted into the LeaderMize ship Charlotte Hall of Fame. When you read the list of her accomplishments, it tells an impressive story. The most important thing people who interact with her remember and appreci-

ate about her, though, is how much she cared. She cared about her family, her place of work and its people, her community, her clients and the many other people to whom she freely gave her time and talent. I met Maryann 14 years ago when I joined the local CCIM chapter as an affiliated-industry member. Even with my narrowly focused niche newspaper, Maryann understood the purpose it served and has supported it over the years. It took me awhile to truly understand just how Maryann selflessly served not only her employer, but her community and our region with her many talents and accomplishments. We salute you. We wish you the best—and we will miss you.

Submitted by Karen P. Moore, Publisher, SWFBT

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OCTOBER 2021

Southwest Florida BUSINESS TODAY ®

Page 13

GUEST COMMENTARY Before company donations, check out charity spending, mission details If you are a local business, you are probably inundated by requests to contribute resources to a wide range of social interests—support the nearest high school band, help Habitat for Humanity build a house, or get your employees contributing to the United Way. You want your company support to go to a charity that aligns with your values and most easily do. Who can be opposed to the high school band? Where to donate your company charitable funds is quite an ethical dilemma. For most other organizations, you might need to do a little bit of homework. Sometimes you cannot tell by an organization’s name what it really does. For larger non-profit organizations, you can’t immediately tell whether they spend a high percentage of their donations on non-service expenses (fund-raising, other administrative costs) or whether their CEOs have extremely high salaries. Many years ago, the United Way president was found to be receiving what most people felt was an exorbitantly high salary and he was forced to resign and later went to prison for fraud. Some nonprofit leaders don’t draw high salaries, but create ways for many of their lifestyle expenses to be paid for by the charity. Charity Navigator is an organization that attempts to rate how well charities are doing with their finances and designate the best as four-star. Guide Star is another organization I consult regularly for information about non-profit organizations. It keeps all tax returns for such charities.

One of the non-profit organizations that received the most company donations in recent years is Black Lives Matter, which received over $90 million (not all from companies) in 2020. BLM was founded in 2013 and received its official non-profit designation from the Internal Revenue Service in December 2020, so no financial filings have yet been made public. The name Black Lives Matter is compelling – no one can disagree BY ERIC that Black lives matter. However, DENT people have learned BLM holds many policy positions that actually work against the success of the African-American community. Its website for years included the goal of disrupting the “Western-prescribed nuclear family structure.” The vast majority of Americans strongly endorse the family structure, so that was removed from the BLM website. The three founders of BLM are all proud Marxists. Founder Patrisse Cullors in a 2015 interview said “we actually do have an ideological frame… We are trained Marxists.” Most companies did not realize that they were making donations to an organization that promotes Marxism. For these and other reasons, BLM has had one of the largest drops of endorsement of any organization ever.

What really awakened many Americans to their true activities was their support of the Cuban Marxist government when there was an uprising of protestors agitating for their freedom. BLM’s endorsement of the Cuban government simply made no sense for an organization purporting to help the Black community. Many Americans also wondered about their push to defund the police. Rashad Turner founded the Minnesota chapter of BLM and became a media figure for his activist work. He resigned in 2016 when he discovered that BLM had policy positions such as opposing charter schools, which have been shown to be a tremendous benefit to Blacks and are widely supported by the Black community. It is incredibly difficult for local companies to determine which charities to support. Some charities that purport to help the environment have been accused of “green-washing,” where they say all the right things, but don’t produce much of an environmental difference. Those dynamics are difficult for companies to discover, but checking with organizations such as Charity Navigator can help you make ethical choices for how to support your community. Dr. Eric B. Dent is the Uncommon Friends Endowed Chair Professor of Ethics at Florida Gulf Coast University. He is also a consultant to organizations and a speaker to national audiences. Contact him at edent@ fgcu.edu.

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Southwest Florida BUSINESS TODAY ®

OCTOBER 2021

Fort Myers CRA offers microenterprise emergency loan program

Since the pandemic first began, COVID-19 has had a devastating impact on the Fort Myers small business community. Recognizing the need to provide temporary assistance to the small businesses located within the Cleveland Avenue, Dr. Martin Luther King, Jr. Blvd. and Downtown redevelopment areas, the Fort Myers CRA created this Loan Program. It operates on a first-come, first-served basis intended to provide much-needed assistance to a limited number of businesses meeting the eligibility criteria. Business may apply for a small business recovery forgivable loan up to $10,000. These loans are designed to aid businesses with eligible expenses during the unprecedented times of COVID-19. Eligible Use of Proceeds • Operating capital for staff salaries, leasing space and utilities. • Purchasing inventory, supplies, computer pro-

For more business news, visit www.swfloridabusinesstoday.com grams related to business (i.e., design, accounting and inventory control) or furniture, fixtures and equipment. • Rehabilitation of owner-occupied or leased space (tenant improvements), including engineering, architectural and local permits or fees. • Equipment purchases (with or without installation costs). • Marketing materials and advertising, including website development and servicing. • Personal protective equipment. • Cleaning supplies. • Set up for online delivery system equipment. Eligibility Criteria • Business must have been in existence for at least

two years. • Business must have a minimum of two employees (one of which may be the business owner) and may not have more than 10 employees, including the owner. • Business must be located within the Cleveland Avenue, Dr. Martin Luther King, Jr. Boulevard or Downtown redevelopment areas of the City of Fort Myers. • Business must be current with all city, county, state and federal financial obligations, including taxes. • Business must be able to show a demonstrable loss of income due to COVID-19. • Business owner must be open to the option of working one-on-one with a business counselor. Contact Leigh Scrabis, program manager at Catalyst Community Capital, at leigh@catalystcd.com or (239) 209-4283.

SALUTE TO ENTREPRENEURS Edison Awards opens nominations for innovation

The Edison Awards, The Premier Awards for Innovations and Innovators have announced the opening of the 2022 nomination season. Named after one of the most influential innovators in history, Thomas Alva Edison, the Edison Awards annually honor game-changing products, services and solutions that represent the best in innovation from across the globe. Through Nov. 19, the Edison Awards will be seeking innovations from all sectors including Fortune 500 companies, small- and medium-sized businesses, not-forprofits, start-up companies and student innovators. Each nominee will initially be reviewed by top industry experts from around the world. Finalists will advance to a review board of over 3,000 professionals from the fields of product development, design, engineering, science, marketing education and beyond to determine the 2022 honorees. “Our extensive nomination and review process allows

us to identify the world’s top innovations and innovators who are solving some of the world’s most pressing problems and embodying the essence of Thomas Edison’s vision,” said Frank Bonafilia, executive director of the Edison Awards. “Our ultimate goal is to inspire and foster a culture of innovation. Innovation can come from anywhere and we support and celebrate the world’s best innovators from all industries across the globe.” Edison Awards finalists will be announced on Feb. 11, on Thomas Edison’s 175 birthday, and honorees will be recognized at the Luminary Hotel in Fort Myers on April 21. The Edison Awards is dedicated to recognizing, honoring and fostering future innovators and has been since 1987. For more information about the Edison Awards, download the 2022 nomination guide or submit a nomination, visit www.edisonawards.com.

ARPA PAGE 1

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assess which issues need highest priority. The Lee County Economic Development Office asks that individuals share this information with business contacts and team members within Lee County limits. The ARPA Community Impact Survey and information about ARPA and the decisions Lee County plans to make can be found at www.leegov.com/ARPA. For the latest news on COVID-19 and its effects on SWFL businesses, visit www.swfloridabusinesstoday.com/ covid-19-tips-for-business/

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RECOVERY PAGE 1 tourism bureaus have focused on offsetting the losses in overseas tourism by increasing our domestic tourism marketing—and it has worked!” This will continue to be important moving forward to keep up this growth. “It is not sustainable growth, however,” he pointed out, “unless there is growth in the vaccination rate as well.” “Right now,” Neto shared, “we have a 50% vaccination rate in Southwest Florida, but,” he added, “the vaccination rate is much lower among blacks and Hispanics here because they are afraid of the government. “So,” he stated, “we need to increase our community education efforts with these subpopulations, because we need everyone to come back to the labor force to reach pre-2020 employment levels.” In conclusion, Neto said, “This is what has happened so far in Southwest Florida. First, COVID-19 affected our subpopulations differently. Second, we saw higher rates of savings because we couldn’t spend our money and we also received stimulus money. Third, the fast recovery was driven by demand for high ticket items—again since we couldn’t spend money on other things—including houses. Fourth, high demand and a broken supply chain has brought some inflationary pressure.” “We’re in a virus and inflationary period now but I do not believe that is sustainable—inflation will drop again as we continue to move back more toward what we’re used to... But now the delta variant is out there, too, so concerts and meetings are being canceled; we’re going back to more restrictions again; the move back to the office has slowed again. We need to continue to incentivize getting vaccinations for a sustainable recovery.”

that SWFBT highlights:

• • • • •

Daily Updates Breaking Business News B2B Events Calendar Commercial Real Estate Directory Professionals who are “Going Places” ... and much more at

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OCTOBER 2021

Southwest Florida BUSINESS TODAY ®

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Goodwill nabs grant for Pathways program Goodwill Industries of Southwest Florida was been awarded a grant of $50,000 from the Golisano Foundation to support Pathways to Opportunity, a day training program that provides life-changing opportunities for adults with significant intellectual and developmental disabilities who want to gain independence and empowerment and experience new opportunities. Goodwill SWFL launched PTO in 2014 to help these adults transition from school to living as independently as possible. The program incorporates real-life training in the community to increase independence and expands the opportunities for participants to help them gain and retain daily living skills, independence and confidence, and increase their integration into their community. PTO is based in Lee County but Goodwill SWFL serves Charlotte, Lee, Collier, Hendry and Glades counties. The program is person-centered and person-delivered. The service delivery model offers classes based on the needs and interests of the participants. Each quarter participants contribute to all aspects of class selection, content and activities—and sign up for classes of their choice. Classes focus on education, recreation, creative expression, employment exploration or helping them handle the consequences of COVID-19. This level of participation encourages independence and self-advocacy. Instructors design each class to build skills to achieve personal goals

of self-sufficiency and assess each individual and the class to determine outcomes met. The adults work in a group setting to meet their individual interests and goals. On April 20, 2020, PTO-2-GO launched using the distance learning delivery model so some participants may continue their life skills training from the safety of their homes. This program also provides tools to assist with mental health and overall wellness while being at home. “We are grateful to the generosity of the Golisano Foundation. Our program is an essential part of the lives of our participants and their caregivers. Through funding from Golisano, we will be able to expand our programs and support our participants on their roads to independence,” said Carolyn Johnson, senior vice president of mission services and development. The support of the Golisano Foundation will allow the program to expand and help cover the cost of those who privately pay. Goodwill Southwest Florida is a non-profit organization that utilizes the selling of donated goods to employ more than 800 individuals in Southwest Florida. Through community philanthropy, grants and sponsorships, they are able to support over 24,000 individuals a year as they work towards independence through Goodwill’s disability services, employment training and support, housing and small business development.

SALUTE TO ENTREPRENEURS

How businesses can afford bankruptcy

My company is in financial distress. How can it afford to pay a lawyer to file for bankruptcy when it can’t even pay its bills? This is a question Dal Lago Law gets asked quite often. Of course, there are costs for filing a bankruptcy, particularly a Chapter 11 Reorganization. However, one of the many benefits of a bankruptcy filing is the “automatic stay”. This occurs in every bankruptcy case and prohibits any creditor (those owed money) from seeking payment from the debtor (those that owe money), if the debt accrued prior to the bankruptcy filing. The “automatic stay” is specifically designed to give the debtor “breathing room” so that it can stabilize its finances and begin the reorganization process. For example, ABC Corp. is paying $5,000 a month on a debt that accrued prior to a bankruptcy. When it files for bankruptcy, ABC Corp. must immediately stop making that $5,000 payment. ABC Corp. can then utilize that savings to fund its reorganization, including its legal fees. Won’t the creditor commence a lawsuit if ABC Corp. stops making the $5,000 monthly payment? No. In fact, unless it gets permission from the Court, the creditor must cease all collection on that date of filing the bankruptcy. This is another benefit of the automatic stay, which demonstrates the powerful nature of a bankruptcy filing. What is the best option for ABC Corp. if it has less than $2,725,625.00 in debt? This is an important threshold for Chapter 11 candidates. If ABC Corp. has less than $2,725,625.00

August 2021 increased by 21,369 over the year, a 6.3% increase. The industries gaining the most jobs over the year include construction, increasing by 3,600 jobs, and leisure and hospitality, increasing by 2,100 jobs. The unemployment rate in the Naples area was 4.2% in August, down from 7.2% reported in August 2020. The Naples area private sector employment increased by 9,300 jobs over the year, an increase of 7.2%. The Naples area ranked No. 1 in private sector over-the-year job growth rate compared to all metro areas in the state. The Naples area labor force in August 2021 increased by 14,364 over the year, an 8.4% increase. The industries gaining the most jobs over the year include professional and business services, increasing by 3,000 jobs, and leisure and hospitality, increasing by 2,100 jobs. In total, Florida has gained 990,400 jobs since April 2020. Florida’s unemployment rate of 5% for August 2021 dropped 0.1 percentage point from July 2021. For 13 consecutive months, the state of Florida’s unemployment rate has remained below the national rate, which is currently at 5.2%. Florida’s labor force also continues to substantially grow, increasing by 65,000 over the month. Floridians in search of work and new job opportunities are encouraged to turn to the CareerSource Florida network for help. Floridians can find guidance to register with Employ Florida (EmployFlorida.com) and search listings of available local job openings. Career seekers also can improve employability assistance, perfecting resume writing, interviewing skills, establishing career goals and pursuing customized career training. These services are provided at no cost to job seekers.

in debt, then it qualifies for what is known as a “Subchapter V, Chapter 11” (or simply, a “Subchapter Five”). SubchapDon’t forget to post your in-person and virtual ter V has all of the benefits of a events on our B2B events calendar at regular Chapter 11 case, but it is www.swfloridabusinesstoday.com/calendar designed to be short in duration and less costly. Congress created Subchapter V after recognizing Our Mission: then in many instances a regular Chapter 11 case was cost prohibitive for many companies. Now, Subchapter V gives small busiBY MIKE nesses the same fighting chance DAL LAGO that larger companies—with roGuest Columnist bust revenue—were given in a INSURANCE PLANS regular Chapter 11. STARTING AT What if ABC Corp has more than $2,725,625.00 in debt? $175 down & $29/month At this time, ABC Corp. will qualify for a Subper adult chapter V because the $2,725,625.00 debt limit Children under 16 years old was increased to $7,500,000 in response to the COVID-19 pandemic. However, that increase will start at $20/month only last until March 27. It is important for ABC Corp. to be mindful of this date. After March 27, Affordable • Employer sponsored • Full Service Broker ABC Corp.’s only option would be to file a regular Chapter 11, which will likely cost ABC Corp. a lot of money that it could otherwise have used toward a Health Insurance MD ___________________________________________ successful Subchapter V reorganization. Policies - Claims - Consultant

Everyone should have affordable health insurance

239-271-7785 Mike Dal Lago is founder of Dal Lago Law. Contact mark.decherd@gmail.com www.healthinsurancemd.com (239) 571-6877 or mike@dallagolaw.com.

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Southwest Florida BUSINESS TODAY ®

OCTOBER 2021

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