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Feature
Story
The D’Jamoos Group Prospers
As A Leader In Uncertain Market
By Elizabeth W. Pearce
More than a few developers have come into the market over the years, boasting of plans to overhaul Southwest Florida’s commercial landscape. Where most have fallen flat in their efforts, The D’Jamoos Group has followed through, becoming one of the area’s leading developers of commercial and upscale residential projects.
Over the last 10 years, the Naples-based company has developed and built more than three million square feet of commercial space in landmark projects throughout Lee and Collier counties. Some of its best known office and retail developments include: Galleria Plaza and Vanderbilt Galleria in Naples; Corkscrew Palms and Plaza del Sol in Estero; Colony Plaza I & II and St. Andrews Courtyard in Bonita Springs; and Alico Commercial Park and Orion Professional Building in Fort Myers. It is also developing Andalucia, a community of Mediterranean-style villa homes on 80 acres off Pine Ridge Road and Whippoorwill Lane in Naples.Each project reflects the original approach to design and development that company founder and CEO Joe D’Jamoos brought to Southwest Florida when he established the business in 1997. Since then, The D’Jamoos Group has become so closely identified with its unique interpretation of Old World architectural design that it has become its signature. Further, the look continues to be copied by other developers in the area.
Typified by bold colors and features such as wrought-iron accents, architectural banding and multiple towers, the modified Mediterranean architecture of the company’s early projects has left a lasting, if not permanent, imprint on local commercial development.These days, it’s difficult to find an office or retail development built after 1999 that doesn’t have at least some element of the European-inspired design that became the D’Jamoos trademark long before it was a market trend. The look has even been endorsed by the architectural review committee of the Estero Planning Council as the preferred design style for the town’s new commercial and residential developments.
Andy D’Jamoos, executive vice president of The D’Jamoos Group, attributes the company’s sustained success to his father’s foresight and business sense. "My dad has always made sure that in everything we build, we’re putting out a Class-A product of enduring quality and design. That way, what we develop today will still be the standard 50 years from now," he says.D’Jamoos further credits his father for assembling a talented executive team of "very creative and experienced players who work well together." Undoubtedly, it’s a skill they learned while growing up together in New England, prior to Joe D’Jamoos’s move to Naples and short-lived retirement. According to Andy D’Jamoos, he and his sisters, Betsy D’Jamoos and Jennifer D’Jamoos, have benefited tremendously from their father’s experience, as well as his knack for identifying prime land acquisition opportunities. (See box)
By the late 1990s, the company had cornered the market on almost every high-profile parcel from Estero to North Naples. Most are in areas that were relatively undeveloped but squarely in the path of growth."We’ve never been afraid to be the first ones on the block," says D’Jamoos. "Most people wait until someone else gets the ball rolling, but we’re usually the ones pushing it. We’re not intimidated."
Nor are they easily dissuaded from pursuing new projects, even in an uncertain market. Currently, the company is in the process of developing approximately 800 residential units and 800,000sf of commercial space. "We don’t have as many new projects going as we used to, but the ones we’re working on now are quite large," says D’Jamoos.Growing Smart, Going Green
The D’Jamoos Group has made a point to minimize the impact of its developments on their natural surroundings. However, the company recently expanded its commitment to environmental protection by announcing it would adhere to "green" building principles in its new commercial, residential and mixed-use developments. D’Jamoos says their goal is to do for the environment what their previous developments have done for architectural design."We want the structures we build today to meet the future environmental codes of new buildings, in terms of architecture, environmental sensitivity and energy efficiency," says D’Jamoos, who admits that building green adds to the cost of a project. "But in the long run, it’s more effective for everybody. That’s why we’re trying to take a leadership position. We want to ensure that what we’re doing is helping, not hurting, the environment."
D’Jamoos says there’s a lot more to the green movement than just saving money on energy bills. "It’s not just about the buildings themselves, it’s how they’re designed, where they’re positioned on the site in relation to the sun, how you dig your lakes and what appliances you use, among other things. It’s about enhancing the quality of life," a process that starts long before ground is broken.Initially, the company plans to pursue the Green Development designation for both Estero on the River and S‹o Grato, its two newest mixed-use developments. At the same time, company officials are working closely with local government entities to incorporate Smart Growth concepts and strategies in the design and development of the two communities.
"Both of these projects will be very walkable, compact and attractively designed," says D’Jamoos. "That’s not an easy thing to do when you’re combining some very diverse products on the same property."New Projects
D’Jamoos acknowledges that mixed-use means many things to many people. Often, it’s a mix of commercial-only space, such as retail, office and medical; if the project includes residential, it’s in a separate part of the development. In true mixed-use, he says, residential and commercial space should be physically connected in order to create a true sense of community."Our objective with mixed-use is to create the kind of community that many people grew up with in other parts of the country. It’s all about being connected in a way that encourages people to walk around, talk to each other and shop at different sites without getting in their car."
¥Estero on the River. As the group’s largest and most significant development to date, Estero on the River has also proven to be its most daunting. The proposed, $325 million mixed-use development is on 84+ acres at the corner of Corkscrew Road and U.S. 41 in Estero.After several years of scrutiny by local residents, archaeologists, historians, engineers and environmentalists, the project recently received zoning approval and is now in the design stage. Plans for the pedestrian-friendly village include more than 500 residential units, approximately 300,000sf of restaurant, retail, hotel and office space, a 550-seat regional theater that will be home to Gulfshore Playhouse, sizable preservation areas, trails for walking and bicycling, and public access to the Estero River.
Although overgrowth has made the site a bit unsightly at this point, it remains a treasure trove of natural wonders. The company plans to preserve as much existing foliage and native vegetation as possible, including the numerous, mature champion oak trees established throughout the property. Also, the group is working to get a county-designated greenway along the river for residents and visitors to enjoy.The project is now in the design phase as company officials narrow their list of possible architects and other consultants for the project. Vertical construction could begin in 2010, with a projected buildout of five to eight years, depending in part on market conditions.
¥ S‹o Grato. Brazilian-inspired S‹o Grato is designed as a vibrant, main-street centered village in the heart of North Naples. Located on the former site of the Buckley Nursery, off Airport-Pulling Road, the 23-acre, $125 million project will provide a blend of eco-friendly commercial and residential space connected by sidewalks and access drives to minimize vehicular traffic. In keeping with green building practices, the project features highly efficient energy and utility systems, underground storm water retention, low-flow toilets and other environmentally-sensitive products and finishes.Plans call for a total of 150,000sf of office/retail/medical/restaurant space and approximately 300,000+sf of residential space in 15 three-story buildings. Only two buildings will be freestanding and commercial-only; the other 13 will contain 224 residential condominiums on the second and third floors, over a ground-floor office or retail component. Units range from one to three bedrooms and are priced from the $300,000s.
"In order to be what we consider a true, mixed-use site, those residential units need to be on top of the commercial," says D’Jamoos. "You want them to be a part of the community, not away from it. It’s all about connectivity."¥Coconut Crossing. Located at the corner of U.S. 41 and Coconut Road in Estero, the project contains approximately 35 acres to be developed by The D’Jamoos Group as mixed-use commercial. (Another company is developing the residential component on an adjacent 14.5-acre parcel.)
On the site, The D’Jamoos Group will build and own a 150-room Marriott SpringHill Suites Hotel, for which it plans to obtain Leadership in Energy and Environmental Design (LEED) certification. Project plans also include an 87,000sf Kohl’s department store and approximately 14,000sf of inline retail (ideal for restaurants as wellas retail shops)."We chose Kohl’s for its popularity in the Midwest and Northeast, and its demographic fit with this area," says D’Jamoos. In addition to being "a natural complement to what’s going on across the street at Coconut Point," the developer was strongly influenced by Kohl’s reputation as a progressive, green builder and generous local philanthropist.
In addition, the site includes eight out parcels, four of which remain available for sale or lease. Orion Bank, Florida Community Bank and CVS Pharmacy (which has two lots) have purchased the other four.Thus far, the site has been cleared, the infrastructure is in and development orders are in the works for the hotel and department store. Although no date has been set for Kohl’s groundbreaking, The D’Jamoos Group expects to break ground on the hotel next fall.
¥Corkscrew Palms, a 130,000sf office/retail project on Corkscrew Road in Estero. Two buildings of 13,000sf each are now underway, leaving just three more to build before the development is completed. Each of the two newest buildings will feature four turnkey units on the second floor, providing office space for immediate occupancy. The first floor will contain up to 6,000sf of contiguous, gray shell space (for those who prefer to do their own buildout), although it could be subdivided from 1,500sf.At a time when few area developers are building spec office space, D’Jamoos says the company is taking a more innovative approach to meeting market needs. It seems to be working, as the project is attracting considerable attention from tenants who are either eager to relocate and/or unwilling to go through the construction process. "This will be of greatest benefit to end users who can move in right away and who want to avoid the tenant improvement phase. We think that area of the market has a lot of potential for us." Of the pair under construction, one building is 50% sold. Prudential Properties is representing this project.
¥Vanderbilt Galleria. D’Jamoos says the company saved the best for last when it built the Galleria’s final Class-A, Mediterranean-style office building, which he describes as "probably the best building we’ve ever built." The 60,000sf, five-story building is at the northwest corner of Airport-Pulling and Vanderbilt Beach roads in north Naples.No expense was spared on the building’s unique design or top-quality finishes. The head-turning structure also has a porte cochiere and various other features and amenities for the convenience of tenants and visitors.
Space is available for sale or lease. When construction is completed during the first quarter, Collier Family, Inc. will occupy the entire top floor of approximately 8,800sf.¥Orion Professional Building. Located at the corner of Daniels Parkway and Plantation Road, adjacent to Gulf Coast Hospital in Fort Myers, this three-story, Class-A building was designed, and parking built, to accommodate 100% medical use. It contains a total of 53,000sf of office space, 30,000sf of which remain available for lease. In addition to 12,000sf on the second floor, the entire third floor of approximately 16,000sf contiguous is available for occupancy by one or more tenants.
Looking ahead, D’Jamoos says that while the family-owned firm is always open to new opportunities, it plans to stay put for the foreseeable future. "We haven’t ruled out working on projects on the east coast (of Florida) or beyond, but the opportunities have to be perfect. Thus far, nothing’s met all of our criteria. We’re always evaluating our options, but with so much on our plate right now, we have no plans to shift our focus away from Southwest Florida. -The D’Jamoos Group’s Executive Team
¥ Joe D’Jamoos, CEO. With more than 30 years of experience in the development business, Joe established the company in Naples in 1997. Since then, he has overseen the development of more than three million sf of commercial, residential and mixed-use space in Lee and Collier counties. He was a founding board member of Old Florida Bank and served for 10 years until its recent sale. He now serves on the Hillcrest Bank Board of Directors.¥ Andy D’Jamoos, Executive Vice President. In addition to his job overseeing real estate development for The D’Jamoos Group, Andy is a member of the inaugural board working to launch a Southwest Florida chapter of the National Association of Industrial and Office Properties. He says the formation of a local NAIOP chapter will provide networking opportunities and a voice for Southwest Florida in the commercial real estate arena statewide. Andy is vice chair of the Economic Development Council’s Real Estate Working Group, co-chair of Bonita Springs Market Pulse, and a graduate of both Leadership Collier 2004 and Leadership Bonita Springs 2005.
¥ Betsy D’Jamoos, President. Betsy directs the company’s corporate organization, which includes multiple development entities, a property management company and an executive suites company. Recently, the Florida Real Estate Journal recognized her as one of 2007’s Top Women in Commercial Real Estate. She’s also participating in a green building panel discussion at the ICSC 2008 West Florida Idea Exchange in February.¥ Jennifer D’Jamoos, Vice President. Jennifer draws upon her background working for a global relocation company in Boston, MA, and as a real estate paralegal to manage the company’s operational and legal aspects.
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