As site preparation progresses at the former Sarasota Square Mall, the plans for the redevelopment are becoming more apparent. Two significant tenants that were not previously revealed are Whole Foods and Homesense.
These two retailers will serve as anchors for the mixed-use redevelopment project, as confirmed by Metro Commercial, the New Jersey-based commercial real estate company overseeing leasing efforts.
Initially opened in 1977, Sarasota Square shut its doors last year. The redevelopment initiative, which includes property acquisitions, is projected to exceed $50 million and is expected to feature 1,200 apartments along with around 300,000 square feet of new retail space. This project is among several former shopping mall sites in the area being revitalized as mixed-use developments.
Rod Castan, a principal at Metro Commercial in Miami, indicates that the first phase of the development is anticipated to be completed by 2026. In a LinkedIn post, he encourages other tenants to “join Whole Foods and Costco” in a “prime location with excellent visibility and modern development plans.”
In addition to the upscale grocer, the first phase will offer 3,000 to 12,000 square feet of retail space adjacent to Whole Foods; pad sites ranging from 2,000 to 2,500 square feet; and restaurant spaces sized between 3,000 to 7,500 square feet, as mentioned in his post. Castan did not respond promptly to a request for comments regarding this article.
To facilitate redevelopment, demolition of the mall commenced this winter. Signage promoting “SSQ,” set to open in 2026, was installed shortly after. SSQ is the designation used by Metro Commercial, property owner Torburn Partners, and Chicago-based OKW Architects in marketing materials for Sarasota Square found on the Metro Commercial website.
Several permits were submitted to Sarasota County in August in relation to the redevelopment.
Project officials have applied for a permit to construct a commercial building exceeding 75,000 square feet on the Sarasota Square site, located at 8249 S. Tamiami Trail. The estimated cost for construction is $8.4 million, and the building is expected to be 32 feet tall, according to the permit application, which is currently under review as of August 15.
The Sarasota Square brochure available on the Metro Commercial website indicates that the building will feature Whole Foods on one end, Homesense on the other, with retail space in between. Whole Foods is set to occupy 35,828 square feet, while Homesense will take 24,214 square feet, as per the brochure.
Whole Foods did not reply to inquiries from the Business Observer, a sister publication, regarding its anticipated opening. The marketing materials suggest that the building housing Whole Foods and Homesense is off South Beneva Road, situated between US 41 and Sarasota Square Boulevard. Homesense is a home furnishings retailer under TJX, which also operates TJ Maxx, Marshalls, and HomeGoods.
Whole Foods is planned as the anchor for the redeveloped Sarasota Square.
Recently, project officials submitted a permit to Sarasota County for a Homesense sign. This sign will measure 11.5 feet by 11.5 feet and be installed along a local road, as outlined in the sign permit application, which notes it will feature illuminated channel letters for a three-dimensional effect. The estimated cost for the sign is $13,136, and it will be constructed by Anchor Sign of Charleston, South Carolina. The permit is under review at this time.
In total, Metro Commercial is promoting the Sarasota Square project as having 585,822 square feet of retail space. According to the brochure, existing tenants Costco and J.C. Penney account for 155,521 square feet and 130,857 square feet, respectively, totaling over 286,000 square feet. This leaves approximately 300,000 square feet of new retail space anticipated.
The plans outlined in the Metro Commercial brochure also indicate that 1,200 Class A apartments will be built on the Sarasota Square site as part of the redevelopment. The apartments appear to be situated off Sarasota Square Boulevard, positioned between Beneva and Costco. Additionally, there will be a two-story building housing 36,000 square feet of medical office space.
Illinois-based real estate investment firm Torburn Partners is the owner of the property where most of the Sarasota Square redevelopment is occurring. The firm has invested tens of millions in recent years acquiring parcels within Sarasota Square, including the purchase of the mall structure itself for $19 million in 2021 and JC Penney for $18 million in 2024.
Costco bought the property housing its store in March for $10.5 million from an LLC associated with Torburn Partners. As the mall’s demolition proceeds, Costco is also undergoing some modifications to its entrance and parking lot.
While the majority of the mall has been demolished, Costco and JC Penney remain operational. AMC Theater, which closed last Halloween, is also expected to remain, as per earlier announced plans.
This article originally appeared on sister site BusinessObserverFL.com.
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