Tuesday June 16, 2015
Re: +/- 31 Acres – Naples, Florida
To whom it may concern:
The Subject Property has over 830 front feet on Tamiami Trail East (US 41) and is on a signalized
intersection which is located at one of two entrances to the Treviso Bay TPC golf course community being
developed by Lennar Homes.
We feel as though the Subject Property holds tremendous value being that it is +/- 31 acres and is only 15
minutes to downtown Naples (5th Ave and Olde Naples), 12 minutes to 1-75 and 15 minutes to Marco Island.
Enclosed for your review is the following information:
1) A conceptual brochure for the +/- 31 acre Vincentian PUD located at the intersection of Tamiami
Trail East and SW Blvd in Naples, Florida.
2) Please note the site configuration/plan in the enclosed brochure has slightly changed as a result of
achieving the entitlement permits with the SFWMD/ACOE therefore please see the enclosed
bubble site plan dated 11/9/12. Please note that most likely the final development plans for the
site will require the storm water system be revised from the current SFWMD permit plan
therefore requiring a modification of the SFWMD permit. According to Hole Montes (project
engineers) the project lake could be increased to +/- 4.5A.C. in order to bring the site to a fill
neutral level therefore limiting and or eliminating the need for imported fill.
3) An aerial depicting the Subject Property showing some of the area demographics and the multiple
communities and homes in the area.
4) Minto Communities Purchases Sabal Bay (hereafter referred to as Isle of Collier Preserve) Press
Release – Purchase Price was $68,000,000. Sales at Isle of Collier Preserve has been very strong
and the first phase is nearly sold-out.
5) 34 Acre Sale Comparable for a Property located approximately 3 miles to the West of the subject
property which sold for $6,850,000. The Comparable property does not front on Tamiami Trail
East and is not at a signalized intersection. This site is approved for 390 residential units equating
to a $/unit price of $17,564/unit. This property is now listed for sale for $17,000,000
($47,222/unit) with no co-broke being offered.
JCS Realty Group
2614 Tamiami Trail North Suite # 615
Naples, Florida 34103
(239) 692-8527 Fax: (239) 692-8527
6) 3, 5, and 10 mile Area Demographics which includes Marco Island in the trade area. We feel
Marco Island will be a terrific market to derive customers from.
7) Please see the enclosed appraisal from 2009 valuing the Property at $7,840,000. As you will note
in the appraisal, the previous owner had the property listed for over $15,000,000.
A few notable features of the property are as follows:
1) The property is located along Tamiami Trail East (US 41 East) with +/- 830 front feet on Tamiami
Trail East.
2) The Property is on a signalized intersection
3) The SFWMD and ACOE permits are approved and in hand per the above enclosed site plan. Wetlands
have been mitigated and accounted for in the ACOE and SFWMD permits with the purchase of 3.93
credits at a cost of +/- $133,620. Most likely a minor modification to the SFWMD permit will be
required as a result of adjustment to the storm water system and lake.
4) According to our engineers (Hole Montes) increasing the size of the retention lake to +/- 4.50 acres
should bring the site to a fill neutral position therefore not requiring additional fill. The increased size
of the lake allows the lake to become an amenity to the site as a water feature for commercial and/or
residential development.
5) A phase I & II environmental site assessment was conducted on the subject property revealing no
environmental contamination issues. Reports dated November & December 2012 respectively are
available for review upon Purchasers request.
6) 35,000 Vehicles per day (and growing….) travel on US 41 East every day in front of the subject
property
7) Racetrac gas station is in development of a +/- $5,000,000 service station 1 block to the East of the
Subject Property.
8) The following NEW residential development/activity is taking place within 1 to 5 miles of the Subject
Property:
a. Lennar has recently purchased:
1. Treviso Bay (1200 unit TPC Golf Course development – they are currently asking for
400 more housing units and have sold more than 300 homes since March of 2012
2. 250 lots in Fiddlers Creek
3. +/- 150 lots in Reflection Lakes
4. Copper Cove development on Collier Blvd.
All of the above are within 5 miles of the Subject Site.
b. Stock Development recently broken ground on a 350 unit single family home community
within the Lely Resort and they have also recently purchased residential single family home
lots in Fiddlers Creek and the community of Treviso Bay.
c. Artesia, a +/- 700 unit WCI residential development on Barefoot Williams Rd.
d. DR Horton has also purchased lots within a few miles of the subject property and are already
beginning to build more residential units.
e. Taylor Morrison recently announced the development of a 1,000 unit single family residential
project in Fiddlers Creek near the Tamiami Trail East project entrance.
f. The 1600 unit development of Naples Reserve has already broker ground. It will be located
+/- 3 miles to the east of the subject property.
g. Divosta has recently purchased over 700 additional units from Barron Collier Cos. to expand
their already successful Verona Walk development and will be known as Winding Cypress.
Sales center is open.
h. Canadian developer Minto Communities has purchased the Sabal Bay development (1600
units) hereafter referred to as Isles of Collier. They have already broken ground with homes
sale to begin 1st quarter of 2014. First phase is nearly sold out.
i. Fresh Market recently opened a new grocery store in the trade area.
j. Culvers Better Burgers announced the construction of a 2nd Collier County location within a
short distance of the Subject property.
k. Burger Fi recently opened an inline location at the Shoppes at Eagle Creek.
l. Tamiami Crossings (Southeast corner of Collier Blvd and Tamiami Trail East is approved for
235,000 SF) has broken ground with tenants to include Ross, TJ Max, Home Goods, DSW,
Michaels, and more.
m. Outback Steakhouse has recently opened a new restaurant next to their very successful
Carrabba’s location.
n. Subject property is located catty-corner from the only Community Park in the area. This park
is also the busiest park in all of South and East Naples. The County has recently completed a
new community center making it an even busier park than it already is. The estimated total
budget for the community center and community pool is +/- $3,500,000.
o. Discovery Village (a senior housing community) is nearing completion on a 120 unit
development adjacent to Lely Resort and off of Collier Blvd (SR951).
p. Aster at Lely, a 308 luxury residential market rate rental community is complete with strong
rental demand.
q. A 190,000,000 independent and assisted living community (The Arlington at Lely Resort) has
reached has broken ground. This exciting project will have a total of +/- 300 independent,
assisted, skilled nursing, and memory care units. This project is within 3 miles of the Subject
Property.
9) The subject property is currently a fully entitled PUD vested for the following uses:
224 multi-family/Townhomes (Gap Income requirement for +/- 53 of the 224 units)
or
250,000 SF of retail, office, restaurant, grocery, department store, hotel or assisted living
or
A mixed use project with a combination of the above
We believe this is a great property considering all that is going on in the area especially at Treviso Bay, Lely
Resort, the new Isles of Collier development by Minto, the draw from Marco Island and other surrounding
communities.
The purchase price for the subject property is $6,800,000 and we are offering a 5% commission to the
procuring broker. Should you or your client need any additional information please contact me anytime.
Sincerely,
Chris Shucart
Christopher Shucart