Management Stars
Property management companies are lining up to help banks and other lenders manage distressed commercial real estate. It’s one of the few bright spots in an industry decimated by the recession.
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Owners in distress
Commercial real estate defaults are increasing and brokers and bankers are preparing for a growing number of foreclosures on office buildings, shopping centers and warehouses. Bankers have been slow to take back property.
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Reset for Recovery
Gulf Coast office buildings now offering cheap rents and plentiful space will eventually attract new businesses.
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Right Buy, Right Time
The fifth fastest growing company in the nation bought new office property on the Gulf Coast for a steal.
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Workout World
A pair of commercial real estate veterans has formed a business born of the recession, to help banks and landlords navigate the miserable market. It could be a big business.
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Open receiver
Developer Kenneth Saundry Jr. spent 31 years in the real estate business in Florida building homes, RV parks, shopping centers and offices. Now, he’s reinvented himself as a court receiver to manage distressed properties.
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Steals for the Patient
George Comfort & Sons bought Manhattan’s Worldwide Plaza for a fraction of its previous price. But it is 40% empty and the city’s market is glutted.
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Patient executive finally makes his move
Steve Marino, who closed on a $380,000 deal for the land last July, recently announced plans to build a two-building, 20,000-square-foot complex on the site, where he eventually hopes to employ at least 10 people. He hopes a glossy new showroom for appliances will be open by early 2011.
Full Story »Lee bonds draw a diverse crowd
News that $56.1 million in federal tax-exempt financing is available for Lee County businesses has generated considerable interest.
Full Story »Clash with McClash over Amendment 4
When two Republican county commissioners from adjacent counties faced off over proposed state constitutional Amendment 4 — a.k.a. “Hometown Democracy” — in front of the Lakewood Ranch Democrat Club, the audience knew to expect an unusual exchange.
Full Story »There’s money in that pet poop
Dan Vickers is the proud franchisee of a larger business that generated $4.5 million in 2009. Representing one of 100 nationwide locations, the company saw dramatic growth last year, despite a slow economy. That company is Pet Butler. Their business: poop scooping.
Full Story »Bank hints at real estate recovery
Despite posting grim earnings recently, Naples-based bank holding company TIB Financial Corp. reported an improving real estate market in Naples and Fort Myers.
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