Florida & Gulf Coast + Central Florida + Office | February 3, 2023

WMG Development has acquired a 12-story office tower located at 1390 Main Street in downtown Sarasota, FL.

WMG Development Acquires Mixed-Use Potential Site with Office in Downtown Sarasota

WMG Development, an Effingham, IL-based real estate investment and development company, has acquired a 12-story office tower located at 1390 Main Street in downtown Sarasota, FL.

Steve Horn and Jag Grewal with Ian Black Real Estate and Jeremy Dee with Kennedy Wilson brokered the transaction. The seller will continue to occupy the office building while WMG Development works to design and plan the best mix of uses for the property.

The site consists of 1.08 acres of land and a parking garage in addition to the office building. Its zoning allows for a mixed-use development that can include residential, retail, office and hotel programming.

“This project size and location on the historic Five Points Roundabout is immensely important to the Downtown Sarasota Community and to WMG Development as we live out our mission and vision of making a positive and lasting impact on the communities we touch throughout the country,” said Curtis Frost, CEO of WMG Development.

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WMG Development's Frost

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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