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Southeast Florida Business Briefs - March 2007
BOCA RATON --
? The 488 shareholders of Briny Breezes Mobile Home Park are selling the 43-acre oceanfront parcel to Ocean Land Investments for $510 million. Ocean Land plans to build a mixed-use community over a 10- to 15-year period.
? Procter & Gamble purchased a minority stake in MDVIP, which helps physicians set up and manage "concierge" medical practices ["The Doctor Will See You Now," June 2006, FloridaTrend.com].
? In its third round of funding, NovaVision raised $20 million from six investment groups to expand availability of its Vision Restoration Therapy medical device in clinics.
? Sun America Bank has completed its purchase of Miami Beach-based Beach Bank, which had two branches and $127.1 million in assets. Sun America also agreed to buy Tequesta-based Independent Community Bank. Terms of the deals were not disclosed.
FORT LAUDERDALE --
? Caribbean Sun Airlines shut down, leaving about 32 workers at its corporate headquarters jobless.
? Nova Southeastern University received a $1.78-million gift from the Emil Buehler Perpetual Trust to establish a 10,000-sq.-ft. research center for engineering, science and mathematics.
? BankAtlantic Bancorp is selling its Ryan Beck unit to St. Louis, Mo.-based Stifel Financial Corp. for $91.1 million.
MIRAMAR --
? Premier Beverage, a wine and spirits distributor, is adding more than 110,000 square feet of warehouse space at its Florida headquarters in the Miramar Park of Commerce.
PLANTATION --
? American Access Care, a Glen Rock, Pa.-based outpatient center for hemodialysis patients, is opening its first Florida location in March.
RIVIERA BEACH --
? Detroit-based Comerica Bank announced plans to add three branches this year. The bank also has branches in Boca Raton, Fort Lauderdale, Palm Beach Gardens, Wellington, Weston, Naples, Sarasota and Stuart.
ST. LUCIE COUNTY --
? Martin Memorial Medical Center paid $10.5 million for 20 acres near the proposed site for the Torrey Pines Institute for Molecular Studies. Martin Memorial hopes to get state approval to build a hospital on the site.
? The South Florida Water Management District awarded more than $5.8 million for alternative water supply initiatives in Port St. Lucie and Martin County.
? Florida Atlantic University and Torrey Pines inked a deal to conduct joint research projects. Torrey Pines will gain access to 15,000 square feet of research and lab space at the Harbor Branch Oceanographic Institute. FAU gains access to Torrey Pines' equipment.
STUART --
? In the wake of declining profits, beverage carbonation supplier NuCO2 is retreating from an aggressive 2-year-old growth plan. The company's new strategy focuses on customers who use more of its product, such as new restaurant chains.
WEST PALM BEACH --
? The Cleveland Clinic opened a satellite office in Palm Beach. The clinic plans to add an executive health program, wellness and prevention services and internal medicine, among other specialty areas, at a yet-to-be-determined permanent Palm Beach County location.
? Tiger 21, a high-net-worth investing group that caters to members with at least $10 million to invest, is establishing chapters in Palm Beach, Boca Raton and Miami.
? OTO Developments purchased land in Metrocentre Corporate Park for $6.65 million. The developer is planning two hotels: A five-story, 114-room Homewood Suites by Hilton and a five-story, 130-room Springhill Suites by Marriott.
? Oasis Outsourcing Holdings purchased Kelly Staff Leasing from Troy, Mich.-based Kelly Services for an undisclosed amount.
