Whole Foods and Homesense Set for Sarasota Square Revitalization

Site preparation work is in progress at the former Sarasota Square Mall, revealing the plans for redevelopment, including two significant tenants: Whole Foods and Homesense.

These chains are set to anchor a mixed-use redevelopment project managed by Metro Commercial, a New Jersey-based real estate firm overseeing the leasing.

Originally opened in 1977, Sarasota Square closed its doors last year. The redevelopment, which will exceed $50 million when factoring in property purchases, aims to introduce 1,200 apartments and roughly 300,000 square feet of innovative retail space. This initiative is part of a broader movement to reinvigorate former shopping mall locations across the region.

Rod Castan, a principal at Metro Commercial in Miami, indicated in a LinkedIn post that the first phase of development is slated for delivery in 2026, inviting tenants to join “Whole Foods and Costco” in a “prime location with excellent visibility and modern development plans.”

Alongside Whole Foods, the initial phase will feature retail space ranging from 3,000 to 12,000 square feet; pad spaces between 2,000 to 2,500 square feet; and restaurant spaces measuring 3,000 to 7,500 square feet.

To facilitate redevelopment, demolition of the mall commenced this winter. Shortly after, signage was displayed around the site, announcing “SSQ” set to open in 2026. The name SSQ is used in marketing materials by Metro Commercial, property owner Torburn Partners, and Chicago-based OKW Architects.

Several permits related to the redevelopment have been filed with Sarasota County in August.

A permit application for a more than 75,000-square-foot commercial structure at 8249 S. Tamiami Trail has been filed, with construction expenses projected at $8.4 million.

According to Metro Commercial’s brochure, the new building will house Whole Foods on one end and Homesense on the opposite, with Whole Foods covering 35,828 square feet and Homesense 24,214 square feet.

Whole Foods has yet to comment on its anticipated opening date. The location for Whole Foods and Homesense is off South Beneva Road, in proximity to US 41 and Sarasota Square Boulevard. Homesense is a part of TJX, which operates several popular retail chains.

Additionally, a permit was filed this month for a HomeSense sign measuring 11.5 feet by 11.5 feet, to be illuminated and installed along a local roadway. The estimated cost of this sign is $13,136, with work to be completed by Anchor Sign of Charleston, South Carolina.

In total, Metro Commercial is marketing the Sarasota Square project with a projected 585,822 square feet of retail space. Existing stores Costco and J.C. Penney contribute over 286,000 square feet, leaving around 300,000 square feet of new retail developments.

The plans highlight the construction of 1,200 Class A apartments at the Sarasota Square site, located off Sarasota Square Boulevard, as part of the redevelopment. A two-story building with 36,000 square feet of medical office space will also be included.

Torburn Partners, an Illinois-based real estate investment firm, owns the Sarasota Square property and has invested heavily into acquiring parcels, including the mall itself for $19 million and JC Penney for $18 million in recent years.

Costco acquired the land for its store in March for $10.5 million from an entity associated with Torburn Partners. Despite the mall’s demolition, Costco remains operational and is pursuing alterations to its entrance and parking facilities.

While the demolition of the mall proceeds, stores like Costco and JC Penney continue to operate, and the AMC Theater, which shut down last Halloween, has been confirmed to remain.

Key Information

• Project Name: Sarasota Square Redevelopment
• Key Tenants: Whole Foods, Homesense
• Total Cost: Over $50 million
• Residential Units: 1,200 apartments
• Retail Space: Approximately 300,000 square feet of new retail
• Expected Completion: Phase One by 2026
• Owner: Torburn Partners