SARASOTA, FLA. — Torburn Partners, a real estate development and investment firm based in Chicago, and leasing and placemaking partner Jamestown are moving forward with Sarasota Square, a mixed-use redevelopment of the former Sarasota Square Mall. The mixed-use development spans nearly 100 acres at the corner of South Tamiami Trail and Beneva Road in Sarasota.
Sarasota Square Mall originally opened in September 1977 and closed in December 2024.
Phase I of the project, which is expected to be delivered in the first quarter of 2027, will introduce approximately 90,000 square feet of daily-needs tenants, such as Whole Foods Market, HomeSense, Charles Schwab, CAVA, Joe & the Juice and Chipotle Mexican Grill. Most recently, Warby Parker signed a 2,040-square-foot lease, bringing the first phase to 88 percent preleased.
Additional leasing and development announcements will be shared as the project progresses. Jamestown, an Atlanta-based development and management firm that specializes in placemaking for retail and mixed-use environments, has begun leasing negotiations for Phase II.
“With Phase II, we’re targeting operators that deliver a sense of discovery and a unique point of view,” says Adam Schwegman, head of retail leasing at Jamestown. “The early response from prospective tenants has been incredibly strong, reinforcing our belief that this will become a true community destination centered around experience, connection and everyday use.”
Along with a central lawn space, Phase II of the development will encompass 160,000 square feet of street-oriented retail and dining space and will focus on fashion brands, chef-driven restaurants and boutique fitness operators. The second phase is anticipated to open by the end of 2028.
In addition to Sarasota Square’s retail and restaurant components, Woodfield Development will break ground on a 360-unit apartment community for the project this summer.
Upon full build-out, Sarasota Square will comprise 530,000 square feet of retail, dining, wellness and experiential concepts, as well as office space and 1,200 residential units.
“Sarasota Square represents a rare opportunity to curate a next-generation retail and dining environment in one of Florida’s most compelling coastal markets,” says Schwegman.
Alongside Torburn Partners and Jamestown, the project team includes retail strategy and brand advisor Holly Cohen, OKW Architects (architect), Stantec (engineering) and EcoPlan (landscape architecture).
— Abby Cox