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Nathan Benderson died April 7, 2012, at the age of 94. All that matters in their operation is to avoid and evade taxes. In addition, Kraft Construction has been the general contractor for the city of Sarasota, Sarasota School District and Sarasota County.". Under terms of the absolute net lease deal, Portland-based Fred Meyer and Kroger will cover all operating expenses associated with the stores. By 16, he quit school and bought an old truck, hauling bottles to as far away as Cleveland. Most banks are run from elsewhere, and most of their local chiefs, once so active in civic affairs, are faceless and unknown; few religious leaders act beyond their sphere; and, except for the community foundations, arts and social service executives arent assuming communitywide leadership. "He's remarkable," said Wayne Wisbaum, an attorney whose family has had a long association with Benderson. The party establishment pooh-poohed when he became co-chair of Trumps Florida presidential campaign, but so far, Gruters is riding high. As of December 2003, Benderson has 356 separate mortgages outstanding for $1.68 billion dollars. But Benderson, who moved his headquarters to Manatee County nearly four years ago, does nothing to trumpet that scope. or joint net worth with the person's spouse, that exceeds $1 million at the time of such person's . The Jewish Community Center's suburban campus in Amherst is named for him. He and partner Phil Mancini have created a catering empire in this very social city, and lately Klauber has been channeling his nonstop enthusiasm and energy into serving as auctioneer at fund raisers, too. In the 1960s, Benderson bought a downtown Buffalo office building and decided to convert it into condos. "We just feel we want to be our own people," Benderson said. Some have amassed millions of dollars of their own, and others have given millions of dollars of other peoples money away. What started as a venture to turn a brewery place into a parking lot grew into a portfolio with over 35 million square feet in 38 states. Arcadia partnered with the owner, the Pitcairn Trust. Copyright 2023 Observer Media Group Inc., All Rights Reserved, The Point Man of Five Points (Sara/Mana edition), as required for Public Notices per F.S. A CPA by profession, he sits on the high-profile FSU boardhe was an early backer of Gov. Retailers faced a wide range of challenges in 2022. His company later sold nearly 40 percent of its Northeast properties to a Cleveland company for $2.3 billion, including retail plazas in Buffalo -- only to buy many of them back a few years later for a profit. The combination will be the fourth largest commercial mortgage REIT, the companies claim. The co-owner of Michaels On East Restaurant and Michaels Wine Cellar, 61, paid his dues at his familys now shuttered Colony Resort on Longboat Key. With this data, we predict the The Beeston Fam YouTube channel generates $359.32 thousand in ad revenue a month and $5.39 million a year. Randall I Benderson. IPAs Toomey agrees that interest in sale-leaseback deals is only likely to proliferate as the U.S. economy continues to rebound from the COVID-19 pandemic. Your email address will not be published. Caution and uncertainty are the popular themes. The market for these types of transactions is alive and well, especially for grocery-anchored properties in good locations, as these are, he says. Voracious reader, political junkie and insomniac, Sarasota County Commissioner Paul Caragiulo, 42, a Republican, will match wits and knowledge with almost anyone when it comes to city and county issues. Kraft's Sarasota office is currently constructing the One Hundred Central (Whole Foods) project, Plaza at Five Points and will build our Thirteen Fifty Main project. Ersa Grae has banking relationships with various financial institutions providing construction lending. But his new career was interrupted by World War II. In buying the portfolio, Benderson outbid roughly 20 other qualified buyers. ", Your California Privacy Rights/Privacy Policy. Executive brings more than two decades of environmental sustainability experience. He counted them first "to figure out how many I could steal," he said. "Some just turned bad.". After another failed try, she helped revive the Westcoast Black Theatre Troupe, righting the books, recruiting donors and gamely grooving to Motown tunes at fund raisers. "Rather than use Arcadia as an investment vehicle, the principals choose to create a project - specific partnerships - initially capitalized with their own funds, but typically garnering significant capital from development or investment partners. Practical, principled and authentic, Detert, 71, is the kind of politician who isnt supposed to exist anymore, a moderate Republican who gets good things done and is supported on all sides of the aisle. Access to this site (the "Site"), is provided by Family Office Marketplace (the "Company"). Among his holdings is a project that promises to upend Southwest Florida retailing: a 1 million-square-foot "lifestyle center" on the Manatee-Sarasota county line. Two of the properties are in the Bay area -- Horizon Park in Tampa, with. When the weather cooled and demand dropped, the bill collectors arrived. They preach the gospel of arts and creativity, champion tech entrepreneurs and immigrants, fight to preserve the environment and womens reproductive rights and sue for civil rights and open government. In 1939, soda was a seasonal business. Some of these charities are JCC Buffalo, or the Jewish Community Center of Greater Buffalo, The Jewish Federation of Greater Buffalo, and the Israel Bonds Organization. Sign In Now, Blackstone REIT Keeps Bleeding Despite Infusion of Liquidity. Brainy and dedicated, Thaxton, 58, did exhaustive homework and managed to balance business and quality of life issues during his eight years on the Sarasota County Commission. Unlike cities with a strong mayor, Sarasota runs on a council-manager format, giving true power to the CEO-like city manager, especially when theres a weak commission (that would be now). For Benderson and other investors, conversely, net-lease transactions provide long-term stable cash flow and credit-tenant guarantees. Its been nearly a decade since we compiled a list of Sarasotas most influential people, and as we worked on this story, we realized that power here is not what it used to be. But he was back at work the next day, looking for another real estate development. Schooled during the Depression, Mr. Benderson was cautious in his projects and didn't build lavish buildings. "However, intense efforts to arrange their personal financial commitments or to locate financial partners will not proceed until the proposal winner is selected. After Lindell Investments Inc. and the PatrinelyGroup LLC withdrew their proposal to develop the city-owned property at Palm and Cocoanut avenues in downtown Sarasota, the field has narrowed to four potential developers. News Staff Reporters Gene Warner and Jay Rey contributed to this report. However, it's rare for influencers to rely on a single source of revenue. W. Kyle Gore, a CGA Capital co-founder and managing director, says in an email that his firm was also involved in the Fred Meyer effort, but he declined further comment. largest privately held real estate companies in America with a diversified portfolio spanning 40 states. He left the factory in his friend's care, shipping off to Bermuda, where he and others in the Army monitored shipping channels for German U-boats. For University Town Center, Benderson never had his doubts -- even though the project is beyond his usual retail project. Scroll below and check more details information about Current Net worth as well as Monthly/Year Salary, Expense, Income Reports! Loves his family, loves his job, loves the communityand loves to talk about all that, too. These senior programs are now up and running at theBenderson Village. rent to own homes near bay st louis, ms . August 31, 2016 Benderson Development Co. is best known along the Gulf Coast for ground-up developments and distressed property upgrades, but since late 2019 the University Park company also has grown its nationwide portfolio through a series of transactions exceeding $1.5 billion. Their backgrounds and achievements vary widely, but each of the 25 power players on our list wields major clout in our community. As was the case in both the Thrivent and Duke Energy deals, Benderson worked with Timonium, Maryland-based CGA Capital, which specializes in net-lease financing and acquisitions and has closed more than $20 billion worth of deals since its formation in 2009 by executives from RBS Securities and formerly Legg Mason Inc., of Baltimore. benderson family net worth. "The acid test for equity funding is simple - if Arcadia believes a project is investment-worthy, there will be no shortage of equity to fund it. He and his wife Lori have homes and friends both here and in Buffalo (the companys birthplace) but the doting dad and granddads real passion is for familyand work. The audit will confirm Benderson's net worth in an amount in excess of $100 million. Dennis Anderson With Family. Get the latest business insights from Dun & Bradstreet. These instruments have been placed with the 90 lenders Benderson's bank dealings include nine-figure relationships with Fleet Bank, HSBC Bank, M&T Bank, Citibank, Key Bank, and Wells Fargo Bank. The superstores consist of 380 acres across Washington, Oregon, Idaho, and Alaska. 5157 Park Club Drive, Sarasota, FL 34235. "He knows every tenant, every lease, the terms, the rents and he knows the vacancy rates at each of his shopping centers. . From our fitness center to our beloved Camp Centerland, from our outdoor pool complex with beach volleyball and pickleball courts to . Unlike his larger-than-life late father, Nate, Randy Benderson, 61, shuns the spotlight; surprisingly few even recognize the head of Benderson Development, the national powerhouse that as the countys largest private landowner has transformed the area around University Parkway and I-75. Real-estate magnate Nathan Benderson dies. A week later, the 1929 stock market crash occurred. How many people besides Schroeder-Manatee Ranch chief Rex Jensen thought it possible? Reserved, patient and congenial,12th Judicial Circuit Chief Judge Charles Williams, 58, is an influential broker in the court system and a trusted voice in community race relations. Skeptics have said the waterfront development in Buffalo, an old steel town, is foolhardy. What they did not know is that the trips were never about the ice cream. "We're not interested in being Donald Trump-type business people," Benderson said. The rumors kept him out of the Montefiore Club, an exclusive Jewish club, after he refused to sign an affidavit saying his money was not mob-related. As due diligence continues to proceed, we anticipate that this will continue to be the case. A good listener, hes passionate, practical and well connected and is a driver of the commission agenda. COURTESY PHOTO Benderson Development acquired the land beneath Thrivent Financial's new headquarters in Minneapolis as part of a net-lease transaction. Each of the 25 power players on our list wields major clout in our community. This biography of the founder of the Benderson Development Co. appeared in the Herald-Tribune in 2007. The Galleria survived short listing by city staff reviewers on Jan. 6 and was ranked third of the eight submissions. Exclusive discounts on ALM and GlobeSt events. W.A. He also was a major benefactor for Roswell Park Cancer Institute, Buffalo Zoo, SPCA Serving Erie County, Variety Club, Buffalo Philharmonic Orchestra, Food Bank of Western New York and Center for Hospice and Palliative Care. Nationally, shes been named PP CEO of the Year, and shes won broad local support, including from high-profile Republican stalwarts, as she has aggressively expanded facilities and services. When the project failed, he lost $1 million. However, theres more to his fathers legacy than running one of the regions largest real estate development companies. He developed office buildings for major corporations around the Northeast and brought retail outlet malls to Niagara Falls and a half-dozen other cities across the country. Coming soon: a trauma center, cancer center, and if Verinder and his board win an appeal, a new hospital in South County, too. The three principals - William Morris, Christopher Brown and Michael Langton - have a combined net worth of about $23.2 million. Net worth: $24.5 billion Source of wealth: Hearst Corporation About 67 family members share the fortune that William Randolph Hearst created when he took over the San Francisco Examiner in the . The self-contained civil rights and open records wizard, 54, used two six-year stints in prison to teach himself the lawalthough his convictions preclude him from being a lawyer. He lost $1 million lending money to a company working on a highway project. Sarasota Magazine. Once, he was sued after the wall of one of his buildings collapsed into another, killing an office worker. When they decide to do something, they do it. Just as stunning was the way he questioned Stovroff about Hospice. An infomaniac whos wickedly smart (he has a law degree), hes passionate about the ranch and relishes attacking opponents, especially no-growthers, once publicly calling environmental advocate Dan Lobeck a walking pile of manure.. Charming and likeable, she can be aggressive, and she comes equipped with a statewide power base because of her CPA (and new School Board member) husband Eric Robinson and his deep Republican connections. Sports a dry sense of humor and a passion for filmmaking, expressed in several documentaries about Newtown. Required fields are marked *. If you don't have common sense, you don't have anything.". Here is the full list of the 400 richest Americans for 2014. Barwin, 62, a tall, long-faced career bureaucrat, is agreeable and smart (some say crafty). "Each of Ersa Grae's projects are normally held in a single asset subsidiary, jointly owned with various investors. Companies like Thrivent, Pioneer Natural and Kroger are attracted to net-lease real estate deals because they allow them to redeploy capital for operations or other expansions. Benderson has also acquired ground leases under New York Citys 300-room Hampton Inn Manhattan/Times Square Central; the nine-story, 206-room Highland Dallas hotel; and the 17-story, 525-unit Willard Towers apartments in Chevy Chase, Maryland, a tony suburb of Washington, D.C., the company says in a statement. He collected glass shards for his father to recycle. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. He didn't have any trouble that whole winter," Benderson said. Benderson Family Skilled Nursing and Rehabilitation Center 1959 N. Honore Ave., Sarasota, FL 34235 Map Key Nearby Nursing Home Nearby Hospital Nearby Nursing Homes The Meadows Center for. "A self-made man of pure and clear values, my father was a man of great warmth and modesty," said his son, Randy, president of Benderson Development Co. "He was a visionary who had the gift of making the complicated understandable.". "He had his whole future in front of him, an exemplary firefighter and employee, just a great all-around person. Benderson Development net worth is believed to be more than a couple of million dollars, according to Forbes and business insiders. Palmetto Place Condominiums, Boca Raton; started 2000; $53.5 million; Ohio Savings (AmTrust Bank). He still is not. Met Life was pleased enough that it ordered another dozen buildings during the next few years, trusting Benderson to get them done. A week later, in October 1929, the stock market crashed, and the family ultimately lost its home, leaving his father devastated. Essentially the principals and key managers of Arcadia continue to plan and develop high profile projects. In the case of Fred Meyer, parent Kroger Co. will commit to new 25-year leases with Benderson, the base rent for which is $25 million annually for the 28 locations. Is Michael Barfield a Crusader or a Con Man. Over the next two decades, Mr. Benderson developed office buildings for corporate tenants such as MetLife, John Hancock, Pitney Bowes and IBM all over the Northeast. Still, he was barely making it financially. He attended both Bennett and Lafayette high schools but never graduated. A recreational rock climber who clearly relishes uphill battles. He valued loyalty and hard work and was viewed as a tough, inquisitive negotiator and a determined businessman. 800 PROPERTIES 40 STATES 50+ MILLION SF OUR DIVERSE PORTFOLIO MARKET-DOMINANT AND SPECIALTY SHOPPING CENTERS Every evening, Benderson gathered Randy and his friends for an ice cream trip. Florida-based Benderson Development bought a 4.5-million-square-foot, 28-property portfolio of absolute net-leased Fred Meyer superstores in a sale-leaseback transaction. Hes Switzerland. 0.17 miles away. Barnett Bank Building: started 2004; $26 million; City of Jacksonville, private limited partner equity investor, federal historic tax credit investor and first mortgage lender Wachovia National Bank or SunTrust National Bank. When his father was still at the helm of Benderson Development Co. he was awarded the first ever Lifetime Achievement Award by The Foundation for Jewish Philanthropies in 2004 for his extraordinary generosity, service, and community commitment. Randall I Benderson. 2023 Could be Year Apartment Owners Compete for Renters, Beyond Population Shifts: Why Multifamilys Outlook Is Good, Cost of Capital Has CRE Projects Mostly Stalled. The open-air mall, the first of its kind in the region, has landed high-end retailers Neiman Marcus and Nordstrom. The number of his fans has been increasing rapidly over the last few days. City commissioner and current mayor, Shaw, 68, a retired postal employee whose family history here goes back more than 110 years, may be the most respected leader in Newtown. The shrewd founder of billion-dollar Sarasota-based collections agency Vengroff Williams, Harvey Vengroff, 75, has become the face of affordable housing in Sarasota, converting old motels to rental units and now building a new 393-unit apartment complex for the working poor. By 1958, his company's property assets totaled $14.5 million. At restaurants he would not allow them to order Coca-Cola. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. If Benderson Family Skilled Nursing and Rehab Center isn't quite what you're looking for, take a look at a few other nearby facilities that might be a better match. Having worked closely with his father from a young age, Randy Benderson knows intimately how much his father had a. soft spot for animals. His involvement in projects "adds credibility and confidence," said former Buffalo Mayor Anthony Masiello. After having a successful stint in the racing industry, he married the love of his life, Carisa Meyers, in the year 2005. . An attorney who specializes in condo association law, Lobeck, 65, has fought the forces of development for decades, arguing that citizens want and deserve environmental protections and safeguards against rampant growth. He bought a condominium on Longboat Key in Florida in 1993, and started developing commercial retail property in the Sarasota area. Uncategorized. Mr. Benderson entered the real estate business in 1951, when he bought the eight-building Schreiber Brewery on Fillmore Avenue at a foreclosure auction for $275,000, before selling off all the equipment and beer and redeveloping the property. Thirteen Fifty Main: scheduled to start construction in the summer; $50 million; conventional financing by a local Sarasota lender, such as Sarasota/Colonial Bank, AmSouth or United Bank.