SUBSCRIBE TO OUR WEBSITE
FOR FREE! via RSS
Southwest Florida's Most Comprehensive
Guide to Commercial Real Estate
Order Complimentary Copy :: View Back Issues :: List your commercial space!

Bonita-Based Premier Commercial Celebrates Five Years at Epicenter of Southwest Florida’s Growth

published on May,30,2007

By Elizabeth W. Pearce

While most of Southwest Florida’s established commercial firms are just starting to feel the fringe effects of a market correction, the pain is mounting for scores of smaller, newer companies, many of which opened to meet the growing demand for income-producing assets after the dot com bust and subsequent stock market plunge in 2002.

Premier Commercial Properties is not one of them.

Established in May 2002, the Bonita Springs-based firm comprises just four senior brokers. However, unlike their diminutive competitors, they have a major edge. Besides the 100 years of real estate experience between them, the group has two real estate powerhouses behind them: The Lutgert Companies and Premier Properties of Southwest Florida, Inc. REALTORS(r).

“Because we’re a family owned company that has been in the business for quite awhile, we know the market runs in cycles,” said Rod Mease, vice president of Premier Properties, a division of The Lutgert Companies. “It’s actually at this point in the cycle that some companies will explore ways to cut back. We’re not cutting back. We’re fortunate to be highly capitalized and right now, we’re spending more.”

Established in Naples by Raymond Lutgert in 1964, The Lutgert Companies is widely recognized as the area’s premier real estate development company. In addition to developing luxurious residential communities and high-rise condominiums, the company has developed and owns many of Southwest Florida’s most prominent retail centers and landmark, Class A office buildings.

One of its newest mixed-use projects is Mercato, now under development with The Barron Collier Companies. (see box)

Lutgert also encompasses title, insurance and other real estate-related companies, including Premier Properties. Since opening in 1984, the aptly named firm has represented exclusive residential and commercial properties in Lee and Collier counties, focusing on luxury homes and golfing communities.

Currently, Premier has more than 225 residential agents working out of offices from Sarasota to Marco Island, and is the exclusive Naples affiliate of Christie’s Great Estates.

Five years ago, Premier and Lutgert established Premier Commercial Properties in Bonita Springs to better meet the commercial needs of its existing residential clients. According to Mease, Bonita was the logical location for Premier Commercial.

“We really do feel that Bonita/Estero is the growth corridor of all of Southwest Florida, based on its proximity to the area’s major economic drivers such as FGCU, the airport and a concentration of retail development,” said Mease. “We wanted to be a part of that, which is why our focus for the last two to three years has been on that market.”

In addition to commercial marketing, sales and leasing, Premier Commercial offers expertise in site selection, land acquisition, development consultation and tax-deferred, 1031 Exchanges. Its nucleus consists of four senior brokers, each with at least 25 years of real estate experience, mostly commercial. Three of the four have lived in Southwest Florida since elementary school.

• Andrew DeSalvo, MBA, ALC (Accredited Land Consultant). DeSalvo moved to Fort Myers at the age of 6 and began working in Bonita Springs when he was 27. Before joining Lutgert to open Premier Commercial, he owned and operated the Bonita-based commercial brokerage of DeSalvo & Wyatt for nearly 20 years. His commercial efforts continue to be concentrated in Lee County, from Bonita/Estero north.

• Ron Sanson. Sanson grew up in south Florida and has been a real estate broker in the south Lee County market for 25 years, focusing exclusively on commercial real estate for the last six. In addition to retail and office leasing, Sanson specializes in 1031 Exchanges, and the sale of office/retail buildings and land.

His son, Aaron Sanson, also works for Premier Commercial as an associate agent, along with Matt Stepan. Both are licensed real estate agents.

• Dan Guoan. Guoan grew up in Naples and is a seasoned commercial broker and has been since 1979.The bulk of his work involves land sales for national developers and large landowners, mainly in Collier County.

• Dave Wallace, CCIM. Wallace joined the Premier Commercial team two-and-a-half years ago.

He hails from Rochester, New York, and brings with him more than 25 years of commercial real estate experience. As a Certified Commercial Investment Member, he is a seasoned professional in assisting clients with acquisitions and dispositions, including office and retail, as well as investment-grade properties. Currently, Wallace is working with a broad range of site selection and investor clients, and represents several retail centers.

Premier Commercial’s ability to broker significant transactions with and for major commercial players belies the modest size of its staff. It also speaks volumes about the power of the Lutgert name.

“Lutgert’s established stature has naturally provided Premier Commercial with an impressive pedigree,” said Dougall McCorkle, Lutgert’s vice president of commercial properties. “Furthermore, their commercial clients benefit not only from the resources and market knowledge that Lutgert and Premier share, but the extensive backgrounds of the agents themselves.”

According to DeSalvo, having a homegrown perspective on the market has its rewards. “The three of us have witnessed every market cycle in Southwest Florida over the last 25 years,” he said. “Coupled with the fact that all four of us have extensive experience in real estate and thoroughly understand the commercial industry, I think gives us a distinct competitive advantage.”

Clients agree. “”When I’m looking for a commercial property broker, I look for an understanding of the market and the product, particularly the ability to assist in ‘fine-tuning’ the product to meet the buyer’s highest expectations,” said Matt Doelger, development director for Simon Property Group. Those are among the reasons Simon retained Premier Commercial to broker the Offices at Coconut Point. It is part of its 550-acre Coconut Point mixed-use development in Estero.

The office project contains approximately 40,000sf in 43 units. To date, Premier has sold 26 units to a 50/50 mix of end users and investors who plan to lease out the space. About half of the units are now under construction.

“(The) brokers at Premier have been very responsive,” Doelger said, noting their attention to detail. “They promptly return calls and e-mail, and are quick to address questions by purchasers and prospective purchasers.”

DeSalvo noted that tenants are coming primarily from the legal and financial services sectors, such as law firms, finance companies, CPAs and other high-level professionals. “At $28sf NNN, they’re the highest rents in Lee County, but we’re getting them (because) the location warrants those prices.”

Another prized client of Premier Commercial is Oakbrook Properties, which owned the Coconut Point acreage before selling to Simon. Recently, Premier Commercial entered into a strategic alliance as the exclusive listing and purchasing representative for Oakbrook Properties’ Southwest Florida land transactions.

“We expect the commercial brokers we work with to have local knowledge of the area and region,” said Ned Dewhirst, Oakbrook’s senior vice president of Florida operations. “In partnering with Premier and specifically Andy DeSalvo, Oakbrook Properties gets the benefits of his 25-plus years of commercial real estate experience in Southwest Florida.”

The Oakbrook agreement includes the sale of its eight Coconut Point outparcels. Located along U.S. 41’s “Miracle Mile,” between Coconut and Corkscrew roads, the parcels are selling per square foot from the mid-$20s for interior pieces to around $30 for the hard corners. At press time, four of the eight parcels were under contract and negotiations for the balance were underway.

Other well known landowners, developers and banks feature prominently on Premier Commercial’s client roster, including: Bonita Bay; WCI; Ronto Development Corp.; The Barron-Collier Cos.; TIB Bank; Colonial Bank; Community Bank of Naples; Centex Homes; Lee Memorial Health System and Ironstone Bank.

“We also have clients from all over the world, many of whom are referred by our residential division,” said DeSalvo. In order to match their real estate objectives with quality opportunities, Premier Commercial’s brokers often work on transactions as a team, keeping in mind that most clients want to move quickly and discreetly.

“Frequently, they don’t want anyone to know that they’re in the market or what they’re looking for, so we tend to work quietly and confidentially,” he said. “We find what they want, even if the properties aren’t listed. We just don’t make a lot of things public.”

Premier Commercial has done well by keeping a low profile. “We try to put ourselves in their shoes (as we) outline various scenarios for return on investment,” said DeSalvo. “Our goal is to make sure our clients achieve what they want to achieve. Commissions take care of themselves.”

Above all, DeSalvo said, Premier Commercial’s brokers never lose sight of what they’re selling. “Real estate is a commodity. We’re selling our professional reputation and our integrity, which is infinitely more valuable.” -

Lutgert’s Commercial Projects

The Lutgert Companies has been responsible for developing many of the area’s most distinctive retail and office properties in Southwest Florida.

One of its most exciting mixed-use projects to date is Mercato, which is being developed as a joint venture with The Barron Collier Companies. Construction is now underway on the 53-acre lifestyle center, designed to provide a mix of retail, office and residential construction in the heart of Naples.

When completed, it will consist of nearly 375,000sf of pedestrian-friendly retail stores and restaurants, 100,000sf of Class A office space, and 175 residences priced from the $500,000s. Whole Foods, an 11-screen movie theater, seven major restaurants, a two-level bookstore and about 50 other upscale shops are expected among the retail tenants.

North Point is another mixed-use development being planned for a 100-acre parcel at the northeast corner of U.S. 41 and Williams Road, north of the Coconut Point retail center in Estero. Plans include a mix of commercial and residential space. Also, the company plans to build new Class A office space in north

Naples when it develops the Lutgert Professional Center on U.S. 41.

Established developments by Lutgert include:

• Crossroads Market. A 130,000sf of retail center anchored by Publix and Walgreens, located near I-75 in North Naples.

• Neapolitan Way. Located at U.S. 41 and Neapolitan Way in Naples, the Publix-anchored center contains 137,000sf of retail shops and restaurants.

• The Promenade at Bonita Bay. An upscale 105,000sf restaurant, retail and office center on U.S. 41 in Bonita Springs.

• The Village on Venetian Bay. More than 50 high-end shops, art galleries and restaurants are located in this award-winning, waterfront specialty retail center on Park Shore Drive at Gulfshore Boulevard in Naples.

• Northern Trust Building. The semi-circular design and reflective glass of this signature, Class A office building has been a Naples icon since 1990.

• Quarles & Brady Building. This Class A office building on Goodlette Road in north Naples is home to corporate tenants including Lutgert Insurance.

Popularity: 1%

Share and Enjoy:
  • Twitter
  • Facebook
  • LinkedIn
  • Digg
  • del.icio.us
  • Google Bookmarks
  • MySpace

Add A Comment

  • Good2Go Healthy TakeOut

    ..read

    You’d never suspect it by looking, but there’s a revolution underway on the ground floor of the Gorovoy M.D. Eye Specialists building in Fort Myers. That’s where the owner of Good2Go Healthy Takeout is working to change the way people think about health and wellness — one smoothie, sandwich or entree at a time.

  • Robins Nest Bakery

    ..read

    Many people consider professional success and personal satisfaction a lopsided proposition at best and an either-or situation at worst. Neither has been the case for Cyndi Ott, who has found both as the owner of Robins Nest Bakery in Fort Myers.

  • Pure Urban Oasis

    ..read

    With its sleek and stunning good looks, Pure Urban Oasis is the kind of restaurant and bar you’d be apt to find in Manhattan or Miami. Luckily for Southwest Floridians, Pure is much closer to home.
    Located in Mercato in north Naples, it offers all the style and sophistication of a major metropolitan eatery with the energetic vibe of an urban nightclub. Remarkably, it is the only independently owned and operated restaurant in the sprawling center, which is home to a number of high-profile, national chains.

  • Nervous Nellie’s

    ..read

    In Southwest Florida, there’s nothing better than a waterfront restaurant that looks like a tourist trap but gets rave reviews from the locals. There aren’t many that fit the bill, particularly around Fort Myers Beach, which is just one reason why Nervous Nellie’s is such a pleasant surprise.
    Located in the old Snug Harbor space on First Street under the Matanzas Pass Bridge, Nervous Nellie’s proves that a great view and great food do not have to be mutually exclusive. It’s a combination that has proven popular with visitors who pack the place inside and out during season. More important, the restaurant and its upstairs bar, Ugly’s Waterside, have also made a big impression on a crowd that’s even harder to please — those who live here year-round.

  • Blu Sushi

    ..read

    Freshness applies to more than just the fish at Blu Sushi, which continues to develop and refine its winning concept. Although it’s hard to hone perfection, Blu’s owners have long had a knack for finding fresh ways to improve upon greatness. Obviously, it’s working.

  • Bistro 41

    ..read

    Being an established and successful restaurant can be a double-edged sword. While it’s an advantage to be well-known and well-liked, it’s an ongoing challenge to stay that way. If you don’t change you risk growing stale; change too much or too often and you risk losing the following that put you on top. Find the perfect balance and you’ve found Bistro 41 in the Bell Tower Shops in Fort Myers.

  • Rib City

    ..read

    You’ve got to love a business that puts a money-back guarantee in writing, especially when that business is a restaurant. But don’t expect a free meal at Rib City.
    Although the owners promise to pick up the tab of any customer who picks up a knife to eat their ribs, that’s not likely to happen with Rib City’s fall-off-the-bone baby backs. In fact, everything on the menu reflects an unwavering commitment to quality that has made the Fort Myers-based chain a household name nationwide.

  • The Veranda

    ..read

    In Southwest Florida’s revolving-door world of fine-dining restaurants and ubiquitous chain eateries, the Veranda is an original. Since 1978, it has impressed locals, tourists and food critics with its antebellum charm and unique menu, making it one of the area’s most enduring and award-winning restaurants. Because it has remained true to its Old Florida roots, the Veranda has never gone out of style or fallen out of favor with diners.

  • Biddle’s Restaurant & Piano Bar

    ..read

    When Biddle’s Restaurant & Piano Bar moved to its new south Fort Myers location last April, it represented both an expansion and a consolidation. While its previous Fort Myers location (in Sanibel Beach Place plaza) and Biddle’s Bucket restaurant on Sanibel have closed, owner Andy Biddle has incorporated the best of both under one recently-remodeled roof in a highly visible spot.

  • The Prawnbroker

    ..read

    The Prawnbroker Restaurant & Fish Market had plenty of competition and customers when it first opened in 1982. What’s remarkable is that 28 years later, most of its competitors are long gone and the Prawnbroker is still packing them in at its south Fort Myers location.
    “We’ve seen the good times, survived the bad times and we’re still going strong,” says general manager Steve Wolfe, who has been at the helm from the outset. “We have a great customer base. Now I’m seeing the children and grandchildren of our early customers.”

  • The Edison

    ..read

    The restaurant at the Fort Myers Country Club on McGregor Boulevard has been known by many names over the years, none for an extended period. This time, however, the historic, local landmark seems to have acquired a lasting identity as The Edison.

  • Vapiano

    ..read

    Unbeknownst to many Southwest Floridians, in recent years Vapiano has garnered national and international acclaim among restaurant industry insiders for its innovative approach to dining. Best described as “upscale fast casual,” the concept incorporates self-service and top-quality, made-to-order food items into one ultra-modern setting. It’s a unique epicurean experience that’s catching on locally at Gulf Coast Town Center in Fort Myers.

  • Sweet Bean Coffee Cafe

    ..read

    Other than the signage and strip center location, there’s little about the Sweet Bean Coffee Cafe that resembles a commercial operation. Unlike its ubiquitous corporate coffee competitors, Sweet Bean is a locally owned and operated original.

  • Bacchus

    ..read

    Bacchus of Fort Myers in the Bell Tower Shops occupies a space that has had many names over the years, including Bacchus, Dragonfly Bistro, Bacco and Toro. Now that it is back to being known as Bacchus, some diners question whether it’s the “real” Bacchus and whether the food is as good as the original’s.

  • Bayfront Bistro

    ..read

    Until earlier this year, there was little reason to visit Fort Myers Beach other than to frolic in the surf and sand. But with the January opening of Bayfront Bistro, diners from Sarasota to Marco Island are making the journey to experience Lee County’s hottest new waterfront restaurant. There’s much to savor at this exceptional spot.

  • Mad Take-Out

    ..read

    It’s one thing to create clever menu concepts, but to prepare and present food that tastes as good as it looks takes real talent. Obviously, that’s something that Southwest Florida restaurateur Shannon Yates has in abundance.

  • Lee Roy Selmon’s

    ..read

    If you’re from the South, you already know that barbecue, grits, cornbread and fried green tomatoes are dietary staples. But you don’t have to be a southerner to appreciate the delightful treat of dining at Lee Roy Selmon’s in Fort Myers. Located at the southeast corner of Daniels Parkway and U.S. 41, it is one of six Southwest Florida establishments named for the legendary football star.

  • Bear Rock Cafe

    ..read

    If you confuse dining value with fast-food combo meals delivered via drive-through window, you need to visit Bear Rock Cafe in Fort Myers. Since opening a year ago, the eatery has proven that freshly-made meals can be tasty, quick and affordable. In fact, for less than $20, two people can enjoy a hearty home-cooked lunch or dinner – no small feat in today’s economy.

  • Ichabod’s Wicked Food and Drinks

    ..read

    Unless you’re hungry for sushi, you’re guaranteed to find something to suit your appetite at Icabod’s Wicked Good Food and Drink in south Fort Myers. In fact, its oversized, four-page menu is so extensive and jam-packed with choices, it may be impossible to settle on a single item.

  • Roadhouse Cafe

    ..read

    Unless you’re from Cape Cod, you might assume that the Roadhouse Cafe is a place that serves wings and beer to patrons clad in t-shirts. Well, don’t let the name fool you.

    Located in the Gulf Point Plaza in south Fort Myers, the Roadhouse Cafe is one of the best fine dining restaurants to open in Southwest Florida in years. Formerly known as La Brasserie, Roadhouse offers outstanding food, entertainment and service in an elegant yet homey atmosphere.

  • Cheeseburger in Paradise

    ..read

    After Jimmy Buffett’s “Cheeseburger in Paradise” became a hit in 1978, restaurants throughout south Florida and beyond claimed to be the inspiration behind the song. Life imitated art in 2002, when the songwriter himself opened the first Cheeseburger in Paradise restaurant (in Indianapolis).

  • Starz Restaurant & Pizzeria

    ..read

    With pizza parlors on seemingly every corner in Southwest Florida, finding a pie is never a problem. Finding a great one is another matter – unless you know about Starz Restaurant & Pizzeria.

  • The Joint and Run Agrounds

    ..read

    In just the last six months, Cape Harbour in southwest Cape Coral has become as well known for its restaurants as for its million-dollar waterfront homes. There, the restaurateurs behind the hugely popular Rumrunners restaurant have established two new and diverse options for casual dining with The Joint and Run Agrounds.

  • Yabo’s

    ..read

    In most restaurants, music is used a background device to establish the ambience of the dining room and help set the tempo for the meal. But that’s not always the case.

  • Patio 33

    ..read

    Restaurants that succeed in downtown Fort Myers seem to share several distinctive characteristics.
    For one thing, they tend to be owned and operated by restaurateurs with considerable experience not only in Southwest Florida, but also in larger, metropolitan areas or at world-class resorts in exotic destinations. The food and service reflect as much. Also, the owners appear to regard downtown as more than just a location, but rather a commitment to contribute to the area’s redevelopment.

  • Macaroni Grill

    ..read

    It was a stunning blow to area diners when a fire in 2005 gutted Romano’s Macaroni Grill in south Fort Myers. The fact that Italian restaurants seem to be on every block from Punta Gorda to Marco Island brought little comfort to the restaurant’s loyal patrons.

  • Palm Grill

    ..read

    When pondering where to go for lunch or dinner, Shell Point Retirement Community is not likely to be the first place to spring to mind. Considered by many to be Lee County’s best-kept secret, most visitors to Shell Point are pleasantly surprised to find that several of the community’s dining venues are open to the public. One of them is the Palm Grill.

  • Sunshine Café

    ..read

    When the Sunshine Café in south Fort Myers got a new owner last year, some long-time customers were a bit anxious. Many feared there would be an overhaul, drastically changing the character and menu they’d come to love. Fortunately, the new owner was Sandy Stilwell, and in the year since she’s been in charge, loyal patrons of the old Sunshine Café have more reasons than ever to like it as the Sunshine Seafood Café & Lounge.

  • Harold’s on Bay

    ..read

    Like the rest of Southwest Florida, downtown Fort Myers was a far different place when Harold’s on Bay opened just a few years ago. Beau Rivage had yet to open and plans for downtown redevelopment were still being formulated. So when respected chef Harold Balink decided to launch a new restaurant in the space once occupied by Peter’s La Cuisine, he knew he had his work cut out for him.

  • Mona Lisa

    ..read

    It’s rare to find a Southwest Florida restaurant whose adult patrons were children when they enjoyed their first meal there. Fortunately for local diners, Mona Lisa is just such a place.

  • Bacco Restaurant & Wine Bar

    ..read

    At first glance, one might not notice that there’s been a change in the roster of four-star restaurants at the Bell Tower Shops in Fort Myers. That’s why it behooves fine-food lovers to revisit one of the center’s prime spots, now occupied by Bacco Restaurant & Wine Bar.

  • Rumrunners

    ..read

    It’s a good sign when a restaurant opens to rave reviews and standing-room-only crowds. It’s an even better sign when that is still the case after two years in business.