Realvest Development Chairman sees advantages ahead as Spec Industrial Boom unfolds in 2014, Credits Economic Gains

Orlando, Fla. --- Co-Star Group’s latest forecast sees big gains in speculative warehouse development in 2014… and that’s good news for George Livingston, chairman of Realvest Development in Orlando. Ranked as one of Central Florida’s most active developers of commercial warehouse facilities in Central Florida, Realvest Development has liquidated much of its assets and is actively seeking specialized development opportunities. “Co-Star Group forecasts that demand for quality warehouse and distribution space will outstrip supply in 2014,” Livingston said, especially Class A distribution space. “Speculative development accounts for almost two-thirds of the 59 million square feet of warehouse and distribution space under way in the U.S. right now,” Livingston said. “Warehouse vacancies dropped almost a full percent nationwide last year and should drop below the 8 percent mark by summer,” Livingston said. “At the same time fully stabilized properties are selling at about the same low cap rates we saw at the top of the cycle,” he added. Among the economic forces spurring new warehouse development is obsolescence. “Tenants want modern, efficient space and much of the vacant space on the market today is older, poorly designed by today’s standards and ill-equipped to adequately accommodate modern, technology-proficient operations,” Livingston said. “Investors are seeking to buy well designed space in markets that have job and population growth and many areas are turning to new cluster designs that attract job creators. Those programs also accelerate demand for new space,” Livingston said.

DiVosta Homes to Host Model Showcase Events Feb. 1 at VeronaWalk in Naples and VillageWalk of Bonita Springs,

NAPLES, Fla. --- DiVosta Homes will host simultaneous model showcase events from 1 to 3 p.m. Saturday, Feb. 1 at VeronaWalk in Naples, 7676 Collier Blvd. Naples, and at VillageWalk of Bonita Springs, 28025 Umiak Court in Bonita Springs. Scott Mairn, vice president of sales and marketing, said DiVosta plans to showcase five decorated two and three-bedroom model homes ranging from 1,392 square feet of living space to 2,488 square feet at VeronaWalk in Naples, including – The three-bedroom Kendall II model with 1,759 square feet of living space that includes three baths along with a covered front porch and rear entry two-car garage, priced from $282,990. The 1,542 square foot Carrington II model, priced from $247,490, and the Tifton, priced from $322,990 with 1,861 square feet, both two-bedroom, two-bath plans with two-car garages. The three-bedroom Vernon Hill model home has a den and two baths in 1,911 square feet of living space, priced from $322,990 with a two-car garage. The 2,315 square foot Dunwoody Lane model, the largest model on display at VeronaWalk at Naples, with three bedrooms, two-and-a-half baths, an open kitchen overlooking the great room, walk-in closets in all bedrooms, a guest suite with private bath and a two-car garage, all priced from $361,490. Mairn said Village Walk of Bonita Springs is offering tours of five decorated model homes, including the three-bedroom, three-bath, two-story Dublon model townhome, priced from $205,990; Four single-family homes – the two-bedroom Tifton model, priced from $282,490; the three-bedroom Vernon Hill, priced from $282,490; the Pine Spring with two bedrooms, two baths and a flex room/optional third bedroom in 1,429 square feet priced from $214,490 with a two-car garage ; and the three-bedroom Dunwoody Trail model, with 2,488 square feet of living space, three baths, plus a two-car garage, all priced from $338,990. Mairn said both model showcase celebrations will offer live music, refreshments and tours of model homes. The events are free and open to the public. For more information or to RSVP for the VeronaWalk open house, call 239-417-6400 and for the VillageWalk event, 239-948-4141.

Oceans Luxury Realty to host open house to showcase new location in Daytona Beach Shores

PORT ORANGE, Fla. --- Oceans Luxury Realty will host an open house Feb. 13 to showcase its new offices at 3162 S. Atlantic Ave. in Daytona Beach Shores. Crystal Anderson and Enis Qosja, co-founders and partners at Oceans Luxury Realty, said the public is invited to enjoy refreshments and a tour of the firm’s third office from noon to 2 p.m. along with officials from the City and Board of Realtors. Anderson said the new offices are the result of a merger with Harbor Village Realty of Port Orange. Oceans Luxury Realty opened its doors last year.