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"Each of Ersa Grae's projects are normally held in a single asset subsidiary, jointly owned with various investors. "He knows every tenant, every lease, the terms, the rents and he knows the vacancy rates at each of his shopping centers. Ronald E Benderson. August 31, 2016 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. Bridgeside Place, Fort Lauderdale: started 1998; $53 million; Bank of America. Never gets stuck in a position, never raises his voice and remains nonaligned, says one courtroom insider. {{start_at_rate}} {{format_dollars}} {{start_price}} {{format_cents}} {{term}}, {{promotional_format_dollars}}{{promotional_price}}{{promotional_format_cents}} {{term}}, City mourns Buffalo firefighter Jason Arno as investigation into fatal fire launches, Buffalo firefighter makes 'ultimate sacrifice' in blaze that may have sparked backdraft, Paula's Donuts to move Clarence store that faced backlash for tax breaks to Amherst, Vandal damages 'brokenhearted' Russell Salvatore's tribute park in Lancaster, Chad Hall's departure from Buffalo Bills to Jaguars remains a bit of a mystery. Benderson Development is one of America's largest privately held real estate companies, with a portfolio that includes more than 800 properties totaling over 50 million square feet in 40 states.. Arcadia's expertise is not limited to Greenfield projects. 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 a teenager, Benderson figured out that he could make more buying and selling bottles from breweries than recycling glass. Our bonding capacity for individual projects is $100 million.". "We just feel we want to be our own people," Benderson said. ", Benderson poohs-poohs that talk: "Everything is hard work and common sense. 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. 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. He didn't have any trouble that whole winter," Benderson said. Executive brings more than two decades of environmental sustainability experience. "We've never made a bad deal," Nathan Benderson likes to joke. He sold Christmas tinsel in his grandfather's cigar store, fireworks for the Fourth of July and flowers from his mother's garden, according to old newspaper stories and Dick Hirsch's biography "The Bubble Didn't Burst: The Story of Nathan Benderson.". The tough-as-nails founder of Medallion Home, 58, has the money to play elite-level politics. When he was 21, he started Niagara Dry Beverage Co., a soft drink business on Buffalo's East Side that made "Old Favorite" root beer. Benderson would not consider taking the company public. To this day, Ronny meets his father at restaurants carrying a bottle of Coke and a bottle of Perrier, "and sits there smiling, just to aggravate me," Benderson says. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Palmetto Place Condominiums, Boca Raton; started 2000; $53.5 million; Ohio Savings (AmTrust Bank). The plan includes over 40% of open space, with no removal of perimeter trees. This Q4 retail quarterly index report reveals how economic headwinds impacted key retail CRE categories during the critical holiday shopping season, and what their performance tells us about consumer behavior and brick-and-mortar retail in the year ahead. Bruce Benderson estimated Net Worth, Biography, Age, Height, Dating, Relationship Records, Salary, Income, Cars, Lifestyles & many more details have been updated below.Let's check, How Rich is Bruce Benderson in 2019-2020? Benderson is also famous for his frugality. Financing ability: "Supported by its substantial net worth, extensive holdings and long-term track record, Benderson enjoys an excellent relationship with 90 present lenders. 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. Two of the properties are in the Bay area -- Horizon Park in Tampa, with. 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. 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. Palmetto Place, Bridgeside Place and the Highland Beach Club are all excellent real examples of our ability to achieve highly competitive construction financing commitments with prominent lenders such as Bank of America, Ohio Savings (AmTrust Bank), or General Electric Capital Corp. "We are in serious discussions with each of the above referenced lenders with our proposed Thirteen Fifty Main mixed-use project one block to the south of the Palm site. Drafted into the Army in 1941, Mr. Benderson served in Bermuda and stateside throughout the war. "Nate was, without question, one of the most generous, creative and engaged donors I've ever had the privilege of working with in over 30 years of philanthropy," said Peter Fleischmann, director of the Foundation for Jewish Philanthropies. He valued loyalty and hard work and was viewed as a tough, inquisitive negotiator and a determined businessman. 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. 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. So what does Sabres GM Kevyn Adams do this week? 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). To be honest, it was a really hard way to walk. Download this eBook and learn how CRE professionals can proactively manage economic challenges by leveraging the power of data. The three principals - William Morris, Christopher Brown and Michael Langton - have a combined net worth of about $23.2 million. 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. 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. Randy Benderson was greatly influenced by his father to help charities that support the elderly as well. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. 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. Under terms of the absolute net lease deal, Portland-based Fred Meyer and Kroger will cover all operating expenses associated with the stores. Then Metropolitan Life asked for space above the gas company. The Jewish Community Center also named a campus after him in Amherst. Copyright 2023 Benderson Development, LLC. When Benderson was 12, his mother came home one day to say she had sold the stock she had inherited from her parents. According to a recent analysis o and the business insiders, we have got that the estimated net worth of Ronald Benderson is more than a couple of million. Our collection of modern, flexible warehouse space and industrial parks deliver solutions to activate and support the workforce. 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. While the city's reviewing committee is likely to put a great deal of emphasis on the proposals themselves, the developers behind the projects all share one unifying factor: seven-figure plus revenue. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. Some have amassed millions of dollars of their own, and others have given millions of dollars of other peoples money away. As head of the business advocacy group The Argus Foundation, shes likely to increase its visibility and power when she leaves the commission because of term limits this year. Accessiblehell email at all hoursNeal is one of the first calls for pols and business types who need a favor. 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. It beat out the Arcadia Land Co. and Benderson Development Co. proposals by six points. A global connoisseurask him to show you his travel photography. This way, we can do our own thing and make our own mistakes, and nobody can criticize what we do. Benderson enjoys relationships with nearly 1,700 tenants, 90 lenders, and six major banks. 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. This onetime CEO of Clevelands Rock and Roll Hall of Fame has rocked Sarasotas arts world since becoming president of the Ringling College of Art and Design in 1999. Leave a Comment / Net Worth / December 24, 2022 December 24, 2022 Ron Benderson is one of the most popular faces on the globe. In later life, Mr. Benderson took special pride and enjoyment in working with his sons and grandchildren. The 322-home subdivision conserved 213 acres of dwindling farmland and made a significant profit. One of them, Shaun Benderson, is an executive in the Florida operations. Consulate Health Care of Sarasota 4783 Fruitville Road, Sarasota, FL 34232. Address: 4745 Spaulding Dr Clarence, NY, 14031. . He collected glass shards for his father to recycle. 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. For Benderson and other investors, conversely, net-lease transactions provide long-term stable cash flow and credit-tenant guarantees. Buffalo Lodging Associates owns and operates over 50 award-winning hotels. In addition, Ersa Grae has access to a variety of institutional and individual investors, who are recruited either as mezzanine lenders or equity partners to augment and enhance the construction loan. Present holdings consist of approximately 800 properties in 35 states with over 40,000,000 square feet of gross leaseable area within its retail division. But in the past, even if the players changed, they tended to come from the same placesfor example, banks, churches, nonprofit institutionsand they tended to work closely together. Three years into the Great Depression, Benderson's father, Isaac, had a broken spirit and was afraid to take a risk after. 87% of employees would recommend working at Benderson Development to a friend and 87% have a positive outlook for the business. Randall I Benderson. Already have an account? 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. Sports a dry sense of humor and a passion for filmmaking, expressed in several documentaries about Newtown. "The principals all have unblemished financial statements with limited current debt levels and they believe in the growth and future of downtown Sarasota with a well-conceived and well-executed project such as The Palm. 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. Three grandsons work for Benderson Development. He bought a condominium on Longboat Key in Florida in 1993, and started developing commercial retail property in the Sarasota area. Mr. Benderson, who suffered a stroke Tuesday, was 94. "I was ashamed because you don't go to Nate with just a request, 'Hey, write a check.' He lost $1 million lending money to a company working on a highway project. Randall I Benderson. "Benderson, and affiliated companies, has been in business for over five decades. To keep his plant going, Benderson slept in his car outside the plant in the spring and summer. 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. Meanwhile, The Jewish Federation of Greater Buffalo created a leadership award in honor of his father, the Nathan Benderson Leadership Award. Most recently, the company announced earlier this month that it had acquired 28 Fred Meyer superstores in Oregon, Washington, Idaho and Alaska. Benderson didnt purchase the stores alone, however. benderson family net worth. 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. Little Blue River Valley, Independence, Mo. "He asked the most probing questions, some of which we couldn't answer," Stovroff said. The tough-as-nails founder of Medallion Home, now shuttered Colony Resort on Longboat Key. . But in 1941, just as business started to pay off, Benderson was drafted. A wide range of company responsibilities fall . Caution and uncertainty are the popular themes. Florida-based Benderson Development bought a 4.5-million-square-foot, 28-property portfolio of absolute net . 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. A Democratic state senator in the 80s, Nealnow a Republicanis an important Republican donor. And in this case, Benderson performed flawlessly.. At age 18, he provided the down payment allowing his parents to once again own a home. pulte homes complaints; raffel systems touchscreen and controller, dfs lrc hm lcd; tax products pr4 sbtpg llc means; history of san jose del cabo; pangbourne college term dates But the state has kicked in $300 million. Mike Harrington: His team looks good, even without Alex Tuch. "It all has to go to charity," Levy said. Most of all, theyre people whose influence is local; some prominent names arent on our list, because they work mainly at a state or national level. Elected judge in 1998, he has earned a reputation for hearing all sides. Other causes and charities the Benderson family, including father-son tandem Nathan and Randy. Benderson has accumulated an extensive net lease portfolio centered around ground leases, retail, office, industrial and hospitality properties. 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. 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. He wasnt scared off by Marco Rubios late entry into the race (by staying in he may be amassing political capital for a future run for governor); whether or not he wins, hes likely to stay a player in this red state. The four development groups submitted financial statements to show city reviewers they are capable of large-scale development, and the statements clearly show that they have considerable backing. Each of the 25 power players on our list wields major clout in our community. He would rather walk a few blocks than feed a parking meter. Find company research, competitor information, contact details & financial data for Delta-Sonic Carwash Systems, Inc. of Buffalo, NY. "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. You have permission to edit this article. 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. 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. 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. They include a $218 million purchase of the land beneath Pioneer Natural Resources 10-story, roughly $1 billion corporate headquarters in Irving, Texas; a $130 million leaseback acquisition of Thrivent Financials new corporate headquarters in Minneapolis, Minnesota, an eight-story, 264,139-square-foot building; and an equity stake in the land beneath Duke Energy Corp.s new Charlotte Metro Tower in North Carolina, a 40-story skyscraper with 1 million square feet. An LSU alum who keeps a Tigers football helmet in his office, hes continuing to expand the hugely popular hospitals facilities and influence. Worthing Place Apartments: started 2000; $45 million; SunTrust (pending). How many people besides Schroeder-Manatee Ranch chief Rex Jensen thought it possible? 1. (Though hes gone on record as objecting to how the vulgar Trump is leading our party off a cliff.) The ultimate operator, he knows Floridas power players, sits on influential boards and pulls levers on land use policy. 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 . Tough but fair, she has a sharp sense of humor and can take it as well as dish it out. The estimated $500 million deal also will add 4.5 million square feet to Bendersons portfolio. He sold fireworks for Fourth of July. They run political campaigns, educational institutions and local government. A driving force in creating the Florida Winefest and Forks & Corks events, hes now volunteer chairman of Bayfront 20:20, seeking to create a long-term master plan for 42 acres of prime Sarasota bayfront. His rise to the status of one of the worlds wealthiest people is a direct result of this success. It lasted only three weeks. For University Town Center, Benderson never had his doubts -- even though the project is beyond his usual retail project. 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. As a city of newcomers, Sarasota has always been a place where power is fluid rather than fixed into a long-established hierarchy. "The sell out value of Ersa Grae's projects are in excess of $500 million. A kayaker and naturalist, he developed his love for the environment growing up in what were then the wilds of South County. At that point, Arcadia will reassess the overall capital needs of the project - principally to obtain entitlements and fund pre-marketing - and tap investors who have partnered previous projects of this scale. However, theres more to his fathers legacy than running one of the regions largest real estate development companies. A one-term city commissioner, he was elected a pro-business county commissioner in 2014. When the project failed, he lost $1 million. The Lifetime Achievement Award is the highest honor the charity can bestow and Randy Benderson is committed to keeping his fathers legacy alive by seeking ways to help and provide significant contributions to the Jewish community in Buffalo. benderson family net worth. 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. Hes Switzerland. In 2013, his not-in-my-district stance scuttled plans for a come-as-you-are homeless shelter, inflaming critics. Having worked closely with his father from a young age, Randy Benderson knows intimately how much his father had a. soft spot for animals. In lieu of this, we invite the agency to review the scale of the most recent projects undertaken and, more importantly, completed by Arcadia.