At age 18, he provided the down payment allowing his parents to once again own a home. Because no one in Buffalo knew where he got his money, there were rumors that Benderson had mob ties. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. 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. In buying the portfolio, Benderson outbid roughly 20 other qualified buyers. His achievement has been built on a foundation of hard effort. How many people besides Schroeder-Manatee Ranch chief Rex Jensen thought it possible? By 1958, his company's property assets totaled $14.5 million. "I think in two years or so, they had all their money as I promised," said Benderson, "and we owned the property.". Hes reduced crime levels, kept budgets flat and adapted progressive strategies like intelligent policing intended to prevent rather than react to crime. For years Benderson drove beat-up cars. 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. 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. Elected judge in 1998, he has earned a reputation for hearing all sides. It is situated on a former nursery site of 44 acres. A recreational rock climber who clearly relishes uphill battles. Ready Capital and Broadmark Realty Capital to Merge, A Closer Look at H2s Investment Sales Drubbing, Robert Bernard Joins CBRE as Chief Sustainability Officer, Unlimited access to GlobeSt and other free ALM publications, Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications, 1 free article* every 30 days across the ALM subscription network, Exclusive discounts on ALM events and publications. He demolished the brewery's tallest building to rent parking spaces to retailers nearby. An LSU alum who keeps a Tigers football helmet in his office, hes continuing to expand the hugely popular hospitals facilities and influence. A global connoisseurask him to show you his travel photography. As a teenager, Benderson figured out that he could make more buying and selling bottles from breweries than recycling glass. "Robert Davis' longstanding role in founding and developing Seaside speaks for itself in terms of commitment to excellence and Arcadia's capabilities. But in 1941, just as business started to pay off, Benderson was drafted. COURTESY PHOTO Benderson Development bought Pioneer Natural Resources' new headquarters in Texas for more than $200 million. 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.. "He asked the most probing questions, some of which we couldn't answer," Stovroff said. Just as stunning was the way he questioned Stovroff about Hospice. From our fitness center to our beloved Camp Centerland, from our outdoor pool complex with beach volleyball and pickleball courts to . Friends and co-workers say the former nurse, known to decompress through nature and solitary travel, is as compassionate as she is tough. Rick Scottand hes running for the District 73 Florida House seat. Warren Buffett Net Worth: $67 B Source of wealth: Berkshire. 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. 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. The combination will be the fourth largest commercial mortgage REIT, the companies claim. FAMILY OFFICE MARKETPLACE TERMS OF USE. He also was shy and modest about his achievements and wealth, and lived accordingly. Copyright 2023 ALM Global, LLC. All that matters in their operation is to avoid and evade taxes. Benderson Development Co. owns or manages 250 properties, a portfolio that includes 30 million square feet of office buildings, industrial parks, residential communities and hotels. "Benderson is typically regarded as the largest privately-held open shopping center developer in the U.S. A longtime Venice resident with kids and grandkids in town, she loves golf and small-town life, including Friday-night high-school football games. Benderson would not consider taking the company public. This rating has improved by 36% over the last 12 months. A one-term city commissioner, he was elected a pro-business county commissioner in 2014. benderson family net worth "I'd tell them, I'm not paying 75 or 80 cents in a restaurant," he said. Seaside: More than 80 acres containing approximately 500 homes, 100,000 square feet of retail/commercial and a variety of civic buildings. Coming soon: a trauma center, cancer center, and if Verinder and his board win an appeal, a new hospital in South County, too. 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. Behind the scenes, Mr. Benderson was a generous donor to philanthropic causes and became the largest donor ever to Buffalo's Jewish community, giving millions of dollars over many years. Potential developers: Southcoast Partners Inc., Boca Raton, and LB Jax Development LLC, Jacksonville. : Project contains 839 lots in two traditional neighborhood development neighborhoods on 400 acres. His rise to the status of one of the worlds wealthiest people is a direct result of this success. Get up-to-the-minute news sent straight to your device. But dont be misled by her mild manner; White, 61, has managed to restore trust and stability to the school system after some fractious predecessors, and she can control the unruliest of meetings. Benderson Family Heart Center | Programs & Services But Benderson, who moved his headquarters to Manatee County nearly four years ago, does nothing to trumpet that scope. "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. For Benderson and other investors, conversely, net-lease transactions provide long-term stable cash flow and credit-tenant guarantees. In St. John suits and a bouffant blonde hairdo, Jennings, 70, founded, led and sold Sarasota Bank at a time when banking was a mans world, then surprised her conservative clients by running for Congress as a Democrat, losing to Vern Buchanan by just 368 votes. benderson family net worth - protekgt.com His father's career was going in the other direction. One of them, Shaun Benderson, is an executive in the Florida operations. He also was the lead donor of the Weinberg Campus at each stage of its development; the Total Aging In Place programs now are located in the Benderson Village. 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. 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. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. Your email address will not be published. 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. "On the way home, I'll stop and get you a bottle of Coke for a nickel.". What does this mean for CRE professionals? Benderson Development, LLC largest privately held real estate companies in America with a diversified portfolio spanning 40 states. The Queen Mother of the philanthropic scene, Jacobs, 65, head of The Patterson Foundation, is the connector, collaborator and confidante of just about every philanthropy professional in the region. "A lot of people who have gone public over the years have been sorry that they've done it. He recently announced plans to build attainable downtown apartments renting from $1,000 to $2,000 a month. 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. Benderson Development net worth is believed to be more than a couple of million dollars, according to Forbes and business insiders. 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. 1. largest privately held real estate companies in America with a diversified portfolio spanning 40 states. Woodmont, Pa.: A traditional neighborhood development in upscale and affluent Huntingdon Valley, will be the crown jewel of "New Urbanist" development in the Philadelphia area. 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. 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. "We've never made a bad deal," Nathan Benderson likes to joke. Our neighborhood centers feature market-leading grocers complemented by a thoughtful mix of specialty stores and services, providing a vibrant and convenient shopping experience for customers. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. 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. 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. 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. When the project failed, he lost $1 million. The Beeston Fam Net Worth & Earnings (2023) Tampa's Lindell Investments Inc. and the PatrinelyGroup LLC, a subsidiary of Crimson Capital Ltd., abandoned plans to compete for the downtown Sarasota project. His father convinced her to buy back everything. Highland Beach Club, Highland Beach: started 2003; $27 million; General Electric Capital and Bank of America. 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. 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. "I was ashamed because you don't go to Nate with just a request, 'Hey, write a check.' Keep reading with unlimited digital access. Jensen, 61, made the vision a reality, and his influence keeps growing with the ranch. 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. Benderson Development, LLC 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. Like most developers, some of Benderson's deals went sour. 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. 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. Here is the full list of the 400 richest Americans for 2014. Meanwhile, The Jewish Federation of Greater Buffalo created a leadership award in honor of his father, the Nathan Benderson Leadership Award. "The ownership and financial structure of the proposed Plaza Verdi will most likely be very similar to Five Points Plaza through a special purpose single asset Florida LLC or partnership.". benderson family net worth. 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. It lasted only three weeks. He expects the same work ethic from employees. 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. "He knows every tenant, every lease, the terms, the rents and he knows the vacancy rates at each of his shopping centers. Those he advocatesincluding the controversial (and short-lived) hiring of a sports executive as the citys first homelessness directormove forward. Executive brings more than two decades of environmental sustainability experience. If you are experiencing difficulties logging in or are a subscriber getting a paywall, please try one or more of the following steps. 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 three principals - William Morris, Christopher Brown and Michael Langton - have a combined net worth of about $23.2 million. The development group's Palm Avenue Galleria proposal called for construction of two 10-story, mixed-use buildings, a five-story commercial office building, a six-level 680-car parking garage and a 400-foot long covered galleria. 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. At age 90, there are still days when he is up at dawn and working late into the night. They build empires, in fields from shopping center development to restaurants. Year: Net Worth: 2019: $13 Million : 2020: $13.5 Million: 2021: 14 Million: 2022: 14.5 . "As such, there is no audited financial data to share with the Sarasota (Community Redevelopment Agency). At JCC Buffalo, Randys father helped develop the Weinberg senior living campus. Millionaires Club | Business Observer 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. Having worked closely with his father from a young age, Randy Benderson knows intimately how much his father had a. soft spot for animals. Bruce Benderson Net Worth, Bio, Age, Height, Wiki [Updated 2022 October ] 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.". Palmetto Place Condominiums, Boca Raton; started 2000; $53.5 million; Ohio Savings (AmTrust Bank). 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. FAMILY OFFICE MARKETPLACE TERMS OF USE. Address: 4745 Spaulding Dr Clarence, NY, 14031. . Within a year, the factory was losing money and Benderson could not pay his lenders. Other causes and charities the Benderson family, including father-son tandem Nathan and Randy. Benderson Family Building in Amherst, located on a beautiful 40 acre campus running along Ellicott Creek, is a family-oriented, vibrant town square of life where you can feel a sense of community and belonging.
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