One of them, Shaun Benderson, is an executive in the Florida operations. News Staff Reporters Gene Warner and Jay Rey contributed to this report. Is Michael Barfield a Crusader or a Con Man. Additionally, he put up Nates Place in 2007 by converting a prime storefront spot near their corporate headquarters in University Shoppes. Schooled during the Depression, Mr. Benderson was cautious in his projects and didn't build lavish buildings. 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. He demolished the brewery's tallest building to rent parking spaces to retailers nearby. To parishioners at St. Jude Catholic Church, founding pastor Gutierrez is known simply as El Padre. Born in Spain himself, and having served for years in Guatemala, Gutierrez has been the center of the Hispanic community here, serving a flock of thousands, founding the annual Hispanic Festival, building a new rectory for the churchs priests, helping immigrant families apply for amnesty, and preaching in the fields to farmworkers lacking transportation. 87% of employees would recommend working at Benderson Development to a friend and 87% have a positive outlook for the business. Day by day the total earnings of Ronald Benderson are increasing and by the side he is getting popular. As a teenager, Benderson figured out that he could make more buying and selling bottles from breweries than recycling glass. 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. 50.011. Shes served on the school board and in both houses of the state legislature, where she often advocated for children, and just won a seatrunning unopposedon the county commission. By age 15, Nathan Benderson was making more money than his father. The 322-home subdivision conserved 213 acres of dwindling farmland and made a significant profit. The number of his fans has been increasing rapidly over the last few days. What does this mean for CRE professionals? Every evening, Benderson gathered Randy and his friends for an ice cream trip. Palmetto Place Condominiums, Boca Raton; started 2000; $53.5 million; Ohio Savings (AmTrust Bank). Sarasotas young (39), amiable GOP chair and VP of the Republican Party of Florida has earned a reputation for fiercely conservative views, risk-taking and ambition. Today he drives Fords -- although in Sarasota he sometimes pulls out a Rolls-Royce that his children bought him for his 80th birthday, a gift he tried to return. The letter was signed by Ron Weisser and C. Dean Patrinely. Quick to see and seize opportunities to expand the college, hes transformed the campusa new library, fine arts center, soundstage and the conversion of the old Sarasota High into a museumand created department majors that have grabbed national attention. Theyre very much in demand now, and theyre a bellwether of the overall commercial real estate market in a way, in that they reveal the level of pent-up demand there is among investors for high-quality real estate. Arcadia's expertise is not limited to Greenfield projects. ", Your California Privacy Rights/Privacy Policy. Now a paralegal and vice president of the Florida ACLU, Barfield works with attorney Andrea Mogensen, defending the rights of Sarasotas homeless and forcing local governments, often through costly lawsuits, to operate in the Sunshine. Respected, feared and even hated, he seems indifferent to the emotions he evokes. What they did not know is that the trips were never about the ice cream. Shes retiring in February, but until then, the calm, steady superintendent of Sarasota County schools oversees a $419 million budget and the countys largest workforce, with every stroke of her pen affecting 5,000 employees and 42,000 kids and their families. The Fred Meyer store chain is a wholly owned subsidiary of Kroger. His major local projects included Delaware Consumer Square, Boulevard Consumer Square, Thruway Mall, Union Consumer Square and the Niagara Falls outlets. This biography of the founder of the Benderson Development Co. appeared in the Herald-Tribune in 2007. The Jewish Community Center also named a campus after him in Amherst. 5157 Park Club Drive, Sarasota, FL 34235. He would rather walk a few blocks than feed a parking meter. (When the city commission tried to impose annual inspections on that project, he stormed out and won approval on his own terms.) Skeptics have said the waterfront development in Buffalo, an old steel town, is foolhardy. A good listener, hes passionate, practical and well connected and is a driver of the commission agenda. 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. Power seems more diffuse today. "Regretfully, under these sad circumstances, we are no longer in a position to execute the project in a way that would optimize the outcome for the city of Sarasota and create the kind of project that Tom originally envisioned.". 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. Essentially the principals and key managers of Arcadia continue to plan and develop high profile projects. Brilliant at dialing for dollars (grown men tremble when her name comes up on caller ID), shes now building a war chest as chair of the towns Democratic Party. This rating has improved by 36% over the last 12 months. In all, Benderson one of North Americas largest privately held real estate companies has completed a half-dozen other acquisitions over the past 18 months. The Benderson family is worth billions of dollars and employee many lawyers and CPAs. The tough-as-nails founder of Medallion Home, now shuttered Colony Resort on Longboat Key. 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. Executive brings more than two decades of environmental sustainability experience. Save my name, email, and website in this browser for the next time I comment. Drafted into the Army in 1941, Mr. Benderson served in Bermuda and stateside throughout the war. 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. Sarasota Magazine. Benderson got back into bottles for five years, then decided to buy a brewery -- trucks, equipment, beer, bottles, cases and all -- at a foreclosure auction. 1255 N. Gulfstream Avenue, Suite 101, Sarasota, FL 34236, Meet the 25 Most Influential Men and Women in Sarasota Today. Benderson blames the talk on anti-Semitism. Randy Benderson aspires to become an active patron of the Roswell Park Cancer Institute, Food Bank of Western New York and Center for Hospice and Palliative Care, just like his father was. The Pacific Northwest has always been one of our top areas of interest to grow our national footprint, says Benderson President Randy Benderson, in a statement. Get up-to-the-minute news sent straight to your device. But the state has kicked in $300 million. August 31, 2016 Seaside: More than 80 acres containing approximately 500 homes, 100,000 square feet of retail/commercial and a variety of civic buildings. Founded over 70 years ago, Benderson Development has grown to become one of the. He still picks up pennies and searches chairs and cushions for loose change. "However, intense efforts to arrange their personal financial commitments or to locate financial partners will not proceed until the proposal winner is selected. He gives so intelligently because he has to find out everything about the agency or the organization to which he gives.". Its most ambitious undertaking to date is the redevelopment of a major portion of downtown Albuquerque, N.M., in collaboration with the city of Albuquerque and a well-known philanthropic foundation.". He never leaves the house before he exercises. Coming soon: a trauma center, cancer center, and if Verinder and his board win an appeal, a new hospital in South County, too. Get the latest business insights from Dun & Bradstreet. 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. Financing ability: "Supported by its substantial net worth, extensive holdings and long-term track record, Benderson enjoys an excellent relationship with 90 present lenders. During the war, Benderson was sent to Mississippi, a "dry" state. Just as stunning was the way he questioned Stovroff about Hospice. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Benderson Development is an individual who has become a celebrity by his charismatic works. Potential developers: Sarasota's Benderson Development Co. and Sarasota Commercial Management Inc. "As of March 31, 2003 (close of the most recent fiscal year), Benderson has completed an independent auditor's report, prepared by Brock, Schechter & Polakoff LLP. Ruth Kahn Stovroff, 93, remembers asking Benderson for a donation to build a hospice center in Buffalo. 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. Tampa's Lindell Investments Inc. and the PatrinelyGroup LLC, a subsidiary of Crimson Capital Ltd., abandoned plans to compete for the downtown Sarasota project. $5.39 million a year may be a low estimate though. Dennis Anderson is an example of someone who started low in life and then . Which One is Best? From our fitness center to our beloved Camp Centerland, from our outdoor pool complex with beach volleyball and pickleball courts to . Jensen, 61, made the vision a reality, and his influence keeps growing with the ranch. Greeted with skepticism when announced, the 30,000-acre master-planned community, with 25,000 residents and thousands more homes in the works, has pulled the regions center of gravity east and generated a boom in development around I-75. At the young age of 16, Randys father, Nathan Benderson, built Fun NGames Amusement Park; Randy was tasked to manage all operations and head the seasonal company. Bass Pro Shop has signed on to put a mega-store at the center. COURTESY PHOTO Benderson Development acquired the land beneath Thrivent Financial's new headquarters in Minneapolis as part of a net-lease transaction. A creative problem solver, he has been a key player in diversity conversations at the Sarasota Bar, in Newtown and at New College of Florida. Here is the full list of the 400 richest Americans for 2014. 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. On the higher end, The Beeston Fam could possibly earn close to $9.7 million a year. 1988: Jim Kennedy . Little Blue River Valley, Independence, Mo. His involvement in projects "adds credibility and confidence," said former Buffalo Mayor Anthony Masiello. Though he likely would make the Forbes 400 list of the world's richest people, he lives in a relatively modest house in Manatee County's University Park and likes to bike to work. Projects he doesnt favorsuch as a homeless shelterdie on the vine. Bridgeside Place, Fort Lauderdale: started 1998; $53 million; Bank of America. 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. We continue to aggressively add to this segment through individual and portfolio acquisitions. Pioneer Natural, under terms of its lease with Benderson, for instance, will occupy its 1.12 million-square-foot headquarters through at least 2040. Benderson has accumulated an extensive net lease portfolio centered around ground leases, retail, office, industrial and hospitality properties. For University Town Center, Benderson never had his doubts -- even though the project is beyond his usual retail project. Almost an entire block of Delaware Avenue was built by Mr. Benderson. 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. The business meant more money to send home for his wife, Dora, and their first son, Ronny. His father's career was going in the other direction. But even those who disagree with Shaw praise the father of nines gregarious personality and say that hes always guided by what he thinks is best for Newtown. When he was 12, his mother sold all the stock she had inherited from her parents, but his father convinced her to buy it back. "I was ashamed because you don't go to Nate with just a request, 'Hey, write a check.' Highland Beach Club, Highland Beach: started 2003; $27 million; General Electric Capital and Bank of America. "The Bendersons don't fool around. The Benderson financial statement and the track record of its design build contractor, The Haskell Co., confirm existing financial capability to guarantee completion of the project. Loves his family, loves his job, loves the communityand loves to talk about all that, too. 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Within a year, the factory was losing money and Benderson could not pay his lenders. 50.011. Development team general contractor, Kraft Construction Co., has demonstrated 35 years of experience in organizing and completing complicated urban mid-size projects such as The Palm. Potential developers: Southcoast Partners Inc., Boca Raton, and LB Jax Development LLC, Jacksonville. Some have amassed millions of dollars of their own, and others have given millions of dollars of other peoples money away. 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. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. Randall I Benderson. alvirne high school teacher dies . Our expansive regional centers combine the right mix of categories and top national brands to offer unique shopping, dining and entertainment in one central location. Warren Buffett Net Worth: $67 B Source of wealth: Berkshire. Address: 4745 Spaulding Dr Clarence, NY, 14031. . Still, he was barely making it financially. Our bonding capacity for individual projects is $100 million.". To keep his plant going, Benderson slept in his car outside the plant in the spring and summer. These stores are best-of-the-best, investment-grade tenancy, and Fred Meyer has strong sales, says Patrick Toomey, an executive director with Institutional Property Advisors (IPA), a division of commercial real estate brokerage Marcus & Millichap, who together with Carrazana and several others at the firm negotiated on behalf of Kroger and Fred Meyer. In buying the portfolio, Benderson outbid roughly 20 other qualified buyers. West University Avenue Lofts: started 2003; $3 million; SunTrust National Bank and private limited partner equity investor. Those he advocatesincluding the controversial (and short-lived) hiring of a sports executive as the citys first homelessness directormove forward. Elected judge in 1998, he has earned a reputation for hearing all sides. 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. His oldest son, Ronny, who now runs Delta Sonic, a chain of car washes that offers rust-proofing, oil changes and gourmet meals, remembers the bottle business. He expects those he deals with to have done their homework. So what does Sabres GM Kevyn Adams do this week? Their calls get answered, their agendas turn into action and their networks spread far and wide. With a national portfolio of over 120 grocery-anchored centers, Benderson has focused on developing, owning and self-managing retail environments designed to enhance the surrounding community. They never went to the same place, so they got to sample most of what the Buffalo suburbs had to offer. Potential developers: Ersa Grae Corp., Houston; Kraft Construction Co. Inc., Naples; and The ADP Group Inc., Sarasota. But Benderson, who moved his headquarters to Manatee County nearly four years ago, does nothing to trumpet that scope. There are Four Different NOIs in a CRE Deal. 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. Ronald E Benderson. 800 PROPERTIES 40 STATES 50+ MILLION SF OUR DIVERSE PORTFOLIO MARKET-DOMINANT AND SPECIALTY SHOPPING CENTERS . When the weather cooled and demand dropped, the bill collectors arrived. Your article was successfully shared with the contacts you provided. At restaurants he would not allow them to order Coca-Cola. His company is in the midst of two right now: a waterfront project in Buffalo and the University Town Center Mall on the Sarasota-Manatee county line. Already have an account? The three principals - William Morris, Christopher Brown and Michael Langton - have a combined net worth of about $23.2 million. 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. As such, animal adoptions as an advocacy resonate strongly in Randy Benderson. "They were so happy to think that I could afford to be in Florida. Brilliant Wharton B-school grad and developer Pat Neal, 67, of Neal Communities dominates the regional builder landscape and is consistently ranked one of Americas best builders. All that matters in their operation is to avoid and evade taxes. ", Benderson poohs-poohs that talk: "Everything is hard work and common sense. The Foundation for Jewish Philanthropies is a not-for-profit public charity that aims to provide for the quality and continuity of Jewish life in Western New York. Once, he was sued after the wall of one of his buildings collapsed into another, killing an office worker. In 1939, soda was a seasonal business. But after making millions developing software for auto dealers, the ber-confident Biter, now 40, moved his young family to Sarasota and started acquiring downtown properties including, with partners, Main Plazaand raising the local cool factor. He valued loyalty and hard work and was viewed as a tough, inquisitive negotiator and a determined businessman. If you are experiencing difficulties logging in or are a subscriber getting a paywall, please try one or more of the following steps. A longtime Venice resident with kids and grandkids in town, she loves golf and small-town life, including Friday-night high-school football games. 1. The full extent is only now becoming known. A Democratic state senator in the 80s, Nealnow a Republicanis an important Republican donor. The Benderson Family Life Insurance Legacy Initiative is in excess of $130 million and will go to whatever charities the family decides to support, Levy said. Keep reading with unlimited digital access. The smart, serious attorney, 42, is known for doing her research, getting to the point and advancing a pro-business agenda, much to the ire of conservationists, whove recently watched Sarasota County environmental protections get dismantled in favor of developers. Published in the September 2016 issue of When the project failed, he lost $1 million. Potential developers: Arcadia Land Co., a Delaware company with offices in Wayne, Pa. "Statement of equity investment capability: Each of the Arcadia principals has accumulated significant personal wealth, but Arcadia Land Co. is a private company with limited capitalization. Business associates all note Benderson's ability to figure a deal in his head. It is situated on a former nursery site of 44 acres. An LSU alum who keeps a Tigers football helmet in his office, hes continuing to expand the hugely popular hospitals facilities and influence. Additionally, the leases contain 5% rent increases every five years, so that by 2046 Fred Meyer will pay Benderson roughly $32 million annually, says Jose Carrazana, a broker who helped negotiate the sale leaseback, in a statement. Meanwhile, The Jewish Federation of Greater Buffalo created a leadership award in honor of his father, the Nathan Benderson Leadership Award. The Jewish Community Center's suburban campus in Amherst is named for him. georgia forensic audit pulitzer; pelonis box fan manual When Benderson was 12, his mother came home one day to say she had sold the stock she had inherited from her parents. A CPA by profession, he sits on the high-profile FSU boardhe was an early backer of Gov. Those who do not like the hours or expectations leave, but many have stuck with Benderson for decades, some in multiple generations. 1255 N. Gulfstream Avenue, Suite 101, Sarasota, FL 34236Phone: (941) 487-1100, By A lawyer by training, with a jovial public personality that serves him well in speech making and fund raising, Thompson, 68, contends creativity is the cornerstone of Sarasotasand the worldschanging economy. Sports a dry sense of humor and a passion for filmmaking, expressed in several documentaries about Newtown. Ersa Grae has banking relationships with various financial institutions providing construction lending. 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. Required fields are marked *. 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. "Robert Davis' longstanding role in founding and developing Seaside speaks for itself in terms of commitment to excellence and Arcadia's capabilities. Our collection of modern, flexible warehouse space and industrial parks deliver solutions to activate and support the workforce. As of December 2003, Benderson has 356 separate mortgages outstanding for $1.68 billion dollars. Three years into the Great Depression, Benderson's father, Isaac, had a broken spirit and was afraid to take a risk after making a decision that cost his family their home. In addition, Kraft Construction has been the general contractor for the city of Sarasota, Sarasota School District and Sarasota County.". Benderson helped create one of the first outlet malls and was one of the first developers to venture into suburbia. Randy Benderson, Nate Benderson and the brothers know the strict rules of the tax laws in setting up a family limited partnership, and they flagrantly ignore them. He understands whats unique about Sarasota and wants to protect that, including opposing guns on the beach. The bankers balked when Benderson handed over only $10,000 of a $275,000 bid, but he convinced them to let him take over the mortgage. A decade later, he moved his company's headquarters to Florida, but maintained regional headquarters and major assets in Buffalo. The Benderson children knew their father was a hard worker and somewhat successful. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. As a city of newcomers, Sarasota has always been a place where power is fluid rather than fixed into a long-established hierarchy. Fred Meyer operates 132 stores in total, which average 165,000 square feet larger than most Costco Wholesale Club outlets or SuperTarget stores. You have permission to edit this article. "It all has to go to charity," Levy said. 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. Worthing Place Apartments: started 2000; $45 million; SunTrust (pending). ", Financing ability: "Supported by its substantial net worth, extensive holdings and long-term track record, Benderson enjoys an excellent relationship with 90 present lenders. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023. In 1967, after a business professor gave his eldest son, Ronny, a failing grade on a business plan he wrote for a class project, Mr. Benderson let his son test the idea anyway. Net worth: $54.4 billion Source of wealth: Chanel The Wertheimer family fortune dates back to 1920s Paris when Pierre Wertheimer funded designer Coco Chanel, Bloomberg reports. A year later, Benderson called Stovroff to set up a $250,000 endowment for Hospice. He also was shy and modest about his achievements and wealth, and lived accordingly. Dont hug her or shake her hand, thoughshe fends off germs by hands-free greetings. The proposals are ranked by the score awarded by the city's review committee. "What people don't know is 90 percent of his life the last 25 years was all about charity," Levy said, "but he wasn't the kind of guy to get up and have a press conference to talk about it.". "Each of Ersa Grae's projects are normally held in a single asset subsidiary, jointly owned with various investors. However, it's rare for influencers to rely on a single source of revenue. The tough-as-nails founder of Medallion Home, 58, has the money to play elite-level politics. A one-term city commissioner, he was elected a pro-business county commissioner in 2014. By age 15, Nathan Benderson was making more money than his father. Benderson was driving around Buffalo scouting new sites for shopping centers and inspecting his developed properties. He didn't have any trouble that whole winter," Benderson said. Benderson would not consider taking the company public. 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. Each of the 25 power players on our list wields major clout in our community. Mike Harrington: His team looks good, even without Alex Tuch. benderson family net worth; Posted by: Comments: 0 Post Date: June 9, 2022 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. A global connoisseurask him to show you his travel photography. Three grandsons work for Benderson Development. Florida-based Benderson Development bought a 4.5-million-square-foot, 28-property portfolio of absolute net . Caution and uncertainty are the popular themes. Isaac Benderson was strict, never giving Nathan the 10-cent admission to Saturday matinees, so Nathan walked a mile to the Utica Avenue theaters, picking up pennies from tin cans at newspaper stands along the way. Now 90 years old, Nathan Benderson's development company, with more than 8,000 employees, is a national commercial real estate powerhouse. Hes running for a U.S. Senate seat as a bottom-line businessman who wants to right the wrongs he says Democrats and Obama (whom he called an animal) have inflicted on his country. Nathan Benderson, a high school dropout who turned painful Depression-era family memories into a highly successful business career that made him the founder of Buffalo's most prominent real-estate empire, died early Saturday in Sarasota Memorial Hospital.
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