Sarasota Experience . com » Commercial Real Estate

Longboat Key Club Expansion

Perry Corneau — Wed, 14 Oct 2009 13:19:56 +0000

The Longboat Ke CLub in currently in the final stages of planning and approval of a proposed $400,000,000 expansion of the resort and club. The expansion will bring a new hotel additional resort amenities, condos and jobs and tourism to Longboat Key.

hh gregg Sarasota

Perry Corneau — Mon, 05 Oct 2009 16:10:14 +0000

The electronics super store, hh gregg has opened a new location at the corner of Fruitville Road and Honore Avenue. The new store which is similar to Best Buy and the now out of business, Circuit City will be open soon. Also opening soon in the Sarasota Crossings Plaza is an Office Depot.

Good Earth Natural Foods Lakewood Ranch

Perry Corneau — Sat, 03 Oct 2009 16:44:48 +0000

The Good Earth Natural Foods Grocery is now open on Main Street in Lakewood Ranch. Local residents are please to have the new grocery store in the location previously occupied by Morton’s Market. Prior to Good Earth Natural Foods opening the space had been leased to Ada’s Natural & Organic Foods but the deal fell though as Ada’s began having financial troubles with it’s existing stores. For more information visit www.goodearthfoods.com/lakewoodranch.html

New Publix on Bee Ridge Road Update

Perry Corneau — Fri, 06 Feb 2009 20:35:57 +0000

Back in July I wrote of the new 28,000 square foot Publix grocery store and 19,000 square feet of retail to be developed on Bee Ridge Road. This new shopping enter which will also include a Suntrust Bank will make life much more convenient for those living in communities such as;

Laurel Lakes

Laurel Meadows

The Hammocks

Bent Tree Golf & Country Club

Laurel Oaks Golf

Gator Creek Golf Club

Misty Creek Country Club

Heritage Oaks Golf & Country Club

The video above was taken February 5th, 2008. Improvements are also being made to the intersection of Bee Ridge and Iona Roads. In the coming days you will find profiles and updates of the above communities that will benefit most from this new shopping center.

Click here to view more information about the new shopping center.

Bank Owned Developments

Perry Corneau — Wed, 04 Feb 2009 03:27:01 +0000

The current economic climate is creating many wonderful opportunities. Currently there are many available bank owned properties suitable for future housing development. These properties consist of multiple housing lots that are available in partially developed neighborhoods. With the credit crunch banks have refused to renew short term loans that had been given to developers. Having now foreclosed on these properties, the banks want them liquidated at prices that are far below original cost. Many such properties are complete with all infrastructure in place and ready for new homes when the market recovers.

Local builders such as Pat Neil are currently selling many new homes in developments where the land cost is low enough to make new construction profitable at today’s market pricing. At the new lots prices that are available from the banks these lands will perform well for savvy investors who take advantage of such opportunities.

New Mall on University Parkway

Perry Corneau — Tue, 04 Nov 2008 14:46:20 +0000

Recently the Benderson Group and it’s partners have received final approval to pull permits on the construction of their new mall on University Parkway. The mall to be called the University Town Center will be modeled after the Mall at Millenia in Orlando. The developers expect that at least 70% of the retailers in the mall will be new to the Sarasota area which they say has been undeserved by the luxury retail segment. Currently shoppers in our are have to travel to Tampa or Naples to shopp at a Tiffany’s or Neiman Marcus. Additional retailers will include the likes of Pac Sun, Talbots, Abercrombie & Fitch, Jimmy Choo, Louis Vuitton, Cartier, Chanel and Vilebrquin. Soon locals and international travelers will be able to enjoy such stores right here in Sarasota. Such high end retailers will be good for our area and will attract more international visitors to our town. According to Visit Florida, shopping ranks as the highest priority among international travelers while only fifth in importance among domestic tourists. This is one of the reasons the mall’s developers are bullish on the project despite the current economic climate. They have indicated that they will pay for the project from their own funds if favorable financing terms are not procured.

Ada's, Lakewood Ranch

Perry Corneau — Mon, 15 Sep 2008 20:24:06 +0000

The Main Street Lakewood Ranch location that was once occupied by Mortons Market will soon be the new home of Ada’s Natural Foods. The new organic market will open in January 2009. Ada’s specializes in natural and organic foods, beauty aids, vitamins, herbs, sports nutrition supplements, protein powders, pet supplies and cleaning products. Ada‘s Natural Foods has been voted, by an independent reader poll, “Best Health Foods Store” in Southwest Florida for five…make that 6 consecutive years.

For more information visit http://www.adasnatural.com

Sarasota Commercial Real Estate Sales

Perry Corneau — Sat, 29 Dec 2007 04:43:17 +0000

The Palmer Crossing retail center on Clark road just sold for $57,000,000. It was the largest commercial sale in Southwest Florida since the Gateway Office Park near Fruitville Road and Interstate 75 sold for $55 million back in the summer of 2006. The Gatway property sold for $224 per square foot.

The Palmer Crossing property consists of 147,000 square feet of existing retail space and the 43,000 square feet to be built. Currently the property is anchored by a Bealls department store and a Sweetbay Supermarket. The land was previously in 1997 for $1.5 million.

This high sales price is a strong indicator that Sarasota remains a very desirable local with very good outlook for continued growth. The Palmer Crossing property has long-term land leases from prominent national companies on eight of the property’s 12 parcels.

University Town Center, Approved

Perry Corneau — Wed, 24 Jan 2007 18:37:00 +0000

Yesterday, the Sarasota County Commissioners unanimously approved Benderson Development’s plans for what will be called University Town Center. The new project will be the largest mall in our region and will feature high end retailers like Nordstroms and other retailers, many of which are not currenlty in Sarasota. The new Town Center, which is slated to be completed in 2009 will also feature 1,750 homes and a trolley system to ferry homeowners to and from the retail tenants. University Town Center will have the feel of a small town. With 1.7 million square feet of commercial space, the new mall will be nearly twice the size of Sarasota Square Mall. Currently there is a Super Target store at the University Parkway location and soon there will be three hotels, a grocery store and a movie theater. The new town Center will be constructed as a joined development between Benderson and The Forbes Co. of Michigan, which is well known for it’s ability to procure high end tenants such as Neiman Marcus, Bloomingdale’s and Nordstroms. Plans for the new mall were

University Town Center

Perry Corneau — Fri, 22 Dec 2006 16:11:13 +0000

Having had their earlier plans for a new town center on University Parkway voted down by the county commissioners, Benderson Development has resubmitted a revised plan for it’s “University Town Center. The new plan will slightly reduce the size of commercial space and considerably rework the design and feel of the proposed project which now calls for 1.66 million square feet of retail space and over 100,000 square feet of office space. High-end retail stores such as Neiman Marcus and Nordstum are expected to anchor the project which will also include a theater, a trolley system and someresidential units. The proposed University Town Center will be located next to the new Super Target on University Parkway near the I75 enterchange an Lakewood Ranch.