Feature Story
Naples Developer JED Diversifies, Dominates Southwest Florida’s Commercial Landscape
By Elizabeth W. Pearce

On the surface, Joe D’Jamoos appears to be much like other top-tier Naples-based developers who have broadened their horizons in recent years. But dig a little deeper and it’s easy to understand why D’Jamoos is no ordinary Joe.
Since establishing JED of Southwest Florida in 1997, D’Jamoos has steadily expanded the company’s presence in Lee County as the pool of developable commercial parcels in Collier County’s most visible locations has all but evaporated. Also, like other foresighted area developers, JED has established its own construction company and property management division. More recently, JED diversified its services to include residential development. But that’s where the similarities end.
In fewer than six years, JED has emerged as one of the most prolific commercial developers in Southwest Florida history. In conjunction with partner Terry Jerulle, president of D’Jamoos & Jerulle Construction, D’Jamoos’ company has developed and built more than one million square feet of some of the most visible commercial projects in Lee and Collier counties, with another two million-plus in the pipeline.
With every project, D’Jamoos has managed to stay ahead of the development curve. Not only has he had the insight to identify prime parcels just before their prime, he’s had the resources to acquire and develop them. Thanks to his eye for detail and talent for designing European-style buildings, JED’s projects often sell well ahead of completion.
Until recently, most of JED’s office/retail developments have been along or near U.S. 41, including Galleria Plaza and Vanderbilt Galleria in Naples; Colony Plaza (phases one and two), Sanibel Steakhouses, Burnt Pine Shops and Crown Lake Center in Bonita Springs; and Summerlin Center at the corner of Summerlin Road and Boy Scout Drive in Fort Myers.
Now, the firm is expanding its Lee County presence with several additional high-profile projects that will double the current square footage in its commercial development portfolio. More significantly, the newest ventures represent a turning point for both JED and D’Jamoos & Jerulle.
“Last year was a big year for land acquisitions. This year we’re developing that land and now we’re going vertical,” said Andy D’Jamoos, JED’s vice president of sales and marketing. “Although we still have approximately 180,000sf to build in Naples, a lot of our commercial growth is going north.”
The company’s business philosophy is also heading in a new direction. Rather than develop strictly to sell, JED has begun to lease and manage some of its developed properties. “We’re going into a mode where we’ll lease many of the buildings and still have some office condos available for sale,” said D’Jamoos. “We want to be flexible enough on our properties to give those who want to buy the opportunity to do so, and lease to the others.”
In another departure with tradition, JED and D’Jamoos & Jerulle have expanded into the homebuilding arena. “People like the flair that we’ve put on our commercial buildings and some of them have been asking us to build their homes,” said D’Jamoos. “It was a natural transition to move into that marketplace, but our plate’s been so full.”
Thus far, the companies have completed two luxury homes in Naples, each in the $1 - $2 million range, and plan to build more than 400 homes over the next five years. One is in Quail West and the other in Olde Cypress. Now their focus is to develop and build Valewood Village, east of I-75 on Immokalee Road in north Naples. Currently, JED is working to rezone the commercial site to make way for the mixed-use neighborhood with limited retail and approximately 200 villa homes priced from the mid-$300,000s. Although plans have yet to be finalized, D’Jamoos said the project will be designed to have an urban flair with Mediterranean style.
“We want it to be a convenient place to live, so that people can walk to the deli or dry cleaner from their home. We don’t want to overwhelm the area with commercial space, but we do want to bring in enough to support the homes that are there, as well as the growth that is coming.”
Development will likely begin in the fall of 2004. Until then, JED faces no shortage of commercial projects to develop and market, particularly in Lee County.
Perhaps the most anticipated of JED’s upcoming projects is the Galleria at the Forum. Located on 14 acres at the northeast corner of I-75 and Colonial Boulevard in Fort Myers, the Galleria is part of the 700-acre DRI Miami Heat coach Pat Riley purchased for $12.5 million in 1998. After 18 months of planning, permitting and design work, JED recently received approval to develop 125,000sf of office/retail/medical space, as well as a 102-room hotel.
“Because it’s such a large site, getting permitting and approval was quite a process,” D’Jamoos said, adding that it was worth the wait. “It’s an exciting project because we’re pioneering in an area that’s just beginning to be developed for commercial use. But with Gateway, Sun City, Heritage Palms and other residential growth going on in that area, the timing is excellent.”
As with most JED developments, D’Jamoos & Jerulle will install the infrastructure and provide all construction services, ranging from design- build to tenant improvements. Groundbreaking for the Galleria is expected by the end of October, with vertical construction slated to begin by next spring.
In addition to the Galleria at the Forum, JED is marketing a number of other high-profile commercial projects throughout greater Fort Myers.
Orion Center
Located on the corner of Daniels Parkway and Plantation Road adjacent to Gulf Coast Hospital, the center will be anchored by an Orion Bank branch office totaling 10,000sf and Bonita-based WCI Realty, which is expanding into Fort Myers with a 10,000sf office. When completed, the project will contain 30,000sf of retail space, as well as 50,000sf of medical and general office space featuring JED’s version of Mediterranean-style design.
“It’s not just colors that make things Mediterranean, it’s features like multiple towers and belly rails around the windows,” said D’Jamoos. “We’re creating designs that are different and eye-catching Ñ in a positive way. You need to make your project stand out because people have choices.”
Site development is scheduled to begin in late November, with construction slated for early January on the first three buildings (Orion’s and two retail/office buildings). Prices start from $18sf + CAM for office and retail space which could be available for occupancy by early next summer.
“That’s the advantage to using our construction company,” said D’Jamoos. “Because we’re the builder, we can begin the interior buildouts several months sooner than other builders can.”
St. Andrews Courtyards
Located on nine acres in Bonita Springs, just off U.S. 41 behind Wilson Lighting (which JED also developed), the property is zoned for office and light industrial space, such as showrooms and warehouses. Projections call for six buildings ranging from 6,300sf to 12,000sf.
Currently, JED is developing a spec office building and is under contract to build a 12,000sf office building for a single unidentified tenant. Lease rates are $18/sf with sale prices starting at $165/sf. Build-to-suit parcels also are available for $7.50/sf.
“It’s a good showroom location because the land is split almost in half by a road,” said D’Jamoos. “You have 4.5 acres on the north side and another 4.5 acres to the south. We’re starting buildings on the north side, leaving the south side available for someone else to develop.”
Alico Commercial Park
Located amid one of Lee County’s fastest-growing areas, the 74-acre commercial park on Alico Road is attracting light industrial users from Naples, Tampa and the east coast.
In addition to 650,000f of light industrial development, the park has 70,000sf designated for commercial development on the outparcels fronting Alico Road.
JED will build to suit on the sites which have all utilities and range from $4-$10/sf.
Although infrastructure work was only recently completed, almost 60% of all lots in the park already have been sold. Between the six-laning of Alico and JED’s anticipation that the county will install a traffic light at Alico and Gator roads, the park may sell out well ahead of schedule.
Colony Plaza
Situated across U.S. 41 from St. Andrews Courtyards in Bonita Springs is Colony Plaza, which includes Sanibel Steakhouse. The recently completed, three-story, 35,000sf building features an illuminated, gold-domed tower that can be seen from miles away. It serves as a stunning beacon at night and is rapidly becoming an area landmark.
The first floor of 12,000sf was sold over the summer to an investment group and will be ready for move-in by the end of this year or early 2004. The remaining 24,000sf is available for sale or lease, including 12,000sf of third-floor office suites that JED is developing. Some covered parking is available. Lease rates range from approximately $17/sf; sale prices are $170/sf.
Corkscrew Palms
The 16-acre office condo project was one of the first commercial developments on Corkscrew Road between U.S. 41 and I-75 in Estero. Of the 130,000sf planned in the 10-building development, three office condo buildings totaling 25,000sf have been completed. Two have been sold, while most of the space has been spoken for in the third.
D’Jamoos & Jerulle is poised to start construction on the fourth and fifth buildings. JED is offering the office condos for sale at $185/sf or lease at $17/sf, with spaces starting at 1,500sf.
Summerlin Commons
Bordered by Boy Scout Drive and Summerlin Road, the 37-acre Summerlin Center is Fort Myers’ largest office/retail development to date. Home to Colonial Bank’s 50,000sf signature building, the project is approved for a total of 500,000sf of commercial development.
JED is now in the process of developing Summerlin Commons, a lakefront complex of 10 one- and two-story buildings ranging from 6,000-10,000sf each. Landscaping was just installed, and three lots already have been sold for build-to-suit development. Parcels are priced from $6-$10/sf.
Also, JED is designing and preleasing a 35,000sf retail building on an outparcel fronting Summerlin Road. Lease prices start at around $18/sf; construction is expected to begin by the end of this year. Some adjacent outparcels are available for restaurant or retail users requiring prime visibility along a high-traffic corridor.
 

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