Benderson Adds to Sarasota Retail Center Portfolio
Benderson Development acquired Glengary Shoppes, a 95,489-square-foot shopping center on South Tamiami Trail in Sarasota. The property is 97% leased and tenants include Best Buy and Barnes & Noble. The sales price was $30.5 million. The seller was Jacksonville-based Regency Centers, a retail center specialist.
The Tampa Bay Business Journal reports the acquisition adds to Benderson’s concentration of properties in the immediate area, including Crossings at Siesta Key, formerly known as Westfield Siesta Key; Publix Super Markets Inc.-anchored The Landings; and Promenade Siesta Key, which will break ground soon.
Benderson’s portfolio includes over 800 properties totaling over 54 million square feet in 41 states. In the last few years, it has added over 10 million square feet and $2 billion worth of real estate to its portfolio.
Brad Peterson and Whitaker Leonhardt of Colliers handled both sides of the transaction.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.