Panama City Clear for Takeoff

It appears the $500-million investment in Panama City’s new international airport is already starting to pay dividends, with Southwest Airlines pledging to start jet service to and from the Panhandle vacation spot next spring. The popular Dallas-based low-fare carrier has a strategic alliance agreement with the airport’s developer, Jacksonville-based St. Joe Co., for eight daily nonstop flights.

Southwest’s arrival is expected to stimulate job growth and economic development within Northwest Florida, along with providing another option to bring travelers from around the country to its beaches, says Britt Greene, St. Joe president and CEO. The major state landowner is building the airport on 4,000 acres as part of its massive 75,000-acre Bay West development.

What To Do With Empty Space?

Ever wonder what else could become of all our vacant buildings and lots while landlords clamor for tenants? BusinessWeek magazine has some interesting ideas, some of which might work pretty well in Florida.

The magazine put out a call for various ideas and ran them unedited. Many of them came from architects, who are constantly striving to turn lemons into lemonade when it comes to empty shells and wide open spaces.

Magazine Seeks Women, and Other Notes

As we plow our way into an uncertain fourth quarter, here are some notes and news you can use:

• Real Estate Florida magazine is now accepting nominations for its Women of Influence feature, to be included in the November/December issue. Click here for the nomination form.

Women have come a long way in commercial real estate over the last few decades, and even though they are still in the minority they are often achieving more than their male peers in the industry. Many throughout the state are among the most knowledgeable, accomplished and respected professionals in the industry.

Getting Closer to the Bottom

Even as the Florida housing market is starting to improve, many are concerned that commercial real estate will drag behind for a while. Jeff Sweeney sees things differently.

The president of Orlando-based Grubb & Ellis|Commercial Florida believes the CRE market will fully improve in the second half of 2010, though there are already positive signs of a recovery. A lot depends on the willingness of banks to get back to lending on commercial projects, he says.

RealShare South Florida Highlights

Here are a few more notes and quotes from last week’s RealShare South Florida conference in Miami, which was attended by 275 people and deemed a solid success. In case you missed it, or even if you were there, you can read more about it here and here, but here are some other highlights:

• The region’s current oversupply of residential condominium units could be absorbed over the next four years, according to panelists of a discussion on the multifamily sector. There is still plenty of interest in both individual and bulk unit acquisitions, particularly from private-capital investors and foreign buyers from Canada and Israel.

Recycling a Newspaper Building

Lakeland-based Publix Super Markets has purchased the former site of the Sarasota Herald-Tribune for a reported $6.3 million. Publix has long advocated recycling plastic and paper bags, but this might be its first foray into newspaper recycling.

Publix will tear down the existing building along US 41 to make way for a 52,000-square-foot store that is expected to open late next year. The store will have ground-level parking, with escalators carrying shoppers (and carts) to and from the second level.

Late Summer Odds and Ends

There’s a lot to talk about in Florida commercial real estate as summer winds down, so let’s take a few moments to get some of it out:
• Several former staffers of GVA Advantis appear to have landed softly at other firms after getting dumped by their former employer. Mark Cooney, Randy Mills and Michele Whalen have moved their Land Sharks operation over to the Duncan Cos. in Tampa, which you read about here. Meanwhile, Paula Buffa has joined Grubb & Ellis|Commercial Florida in Tampa as senior vice president of its office group, along with associate Maria Camarinos Hall. And Lisa Bailey, senior director of the Orlando office, has joined Morrison Commercial Real Estate as vice president.

Second Chance for Miami 21

It ain’t over ’til it’s over, and so it appears for the Miami 21 proposal being pushed by Mayor Manny Diaz. A new vote on the measure by the City Commission is set for next Friday, Sept. 4.

Miami 21 was practically declared DOA after an Aug. 6 vote ended in a 2-2 tie. Diaz vowed not to give up, so we’ll see if anyone changed their minds over the past month.

Getting Well, Plus More from ICSC

Some additional notes from the ICSC Florida Conference, which began Sunday and wraps up Tuesday:

• Michael Feuer, the conference’s featured speaker, has introduced a new retail concept called Max Wellness that is aimed at helping people take better care of themselves. The former Office Max chairman and CEO launched the concept in Cleveland a year ago and seeks to offer at least 6,000 “head to toe” items for prevention, treatment and pleasure.

Rather than competing with pharmacies, Feuer says he aims to target households with income between $60,000 and $150,000 and open stores in high-traffic areas. Two of those new stores, which typically measure 5,000 to 6,000 square feet, are planned in Naples and Sarasota.

Getting Ready for ICSC, And More

As the deadline for another issue of Real Estate Florida approaches, allow me to declutter my mind and desk a little:

• The International Council of Shopping Centers is hosting its annual Florida Conference next week at Gaylord Palms in Kissimmee, with at least 5,000 expected in attendance. A slight amount of falloff is expected because of the recession and a perceived shutdown in retail development, but don’t expect empty corridors and booths.

“It’s not going to be a doom-and-gloom conference,” says Dale Scott, ICSC state director. “The retail developer is as creative a person as you’re going to find. They’ll figure out a way to adapt to what is out there. The attitudes are changing.”