Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
 [Register]
Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-25-2022, 12:12 PM
 
8,837 posts, read 4,753,301 times
Reputation: 1677

Advertisements

Manatee County developer and landlord buys Sarasota mall for $25.1M

https://www.google.com/amp/s/www.you...lar25-1m%3famp

Lakewood Ranch-based Benderson Development, the developer behind The Mall at University Town Center, has bought Crossings at Siesta Key for $25.1 million.

The mall, previously known as Westfield Siesta Key and Southgate Mall, is 439,958 square feet and sits on 26.97 acres. Its current list of tenant includes anchors Macy’s and CMX CinéBistro as well as Connors Steak & Seafood, Talbots, LensCrafters, Loft and Chico’s.

It is at 3501 S. Tamiami Trail at the intersection with Bee Ridge Road. Shaun Benderson, the company’s vice president, says in a statement that “the mall complements our local holdings.”

The purchase is the latest twist for a mall that’s seen its fair share of twists and name changes.

Benderson officials did not announce its plans for the mall but say in the statement the company is known for turning underperforming properties “into thriving destinations that serve the needs and wants of the community.”
Reply With Quote Quick reply to this message

 
Old 05-25-2022, 01:43 PM
 
8,837 posts, read 4,753,301 times
Reputation: 1677
The article mentioned that Westfield paid $62 million for Crossings at Siesta Key in 2003. Then in 2016 they spent another $8 million for renovation. Benderson might of got a bargain for $25.1 million. I guess this is an indication that this mall isn't doing well - or is it? I haven't been there in a while.
Reply With Quote Quick reply to this message
 
Old 05-25-2022, 04:19 PM
 
Location: Free State of Florida
25,930 posts, read 12,951,218 times
Reputation: 19448
That is a steal! They will turn it into a mixed use retail, condo, hotel, office area w/ buildings upto 3-5 stories high.

It will be like the Mercado in Naples or a smaller version of Atlanta's/Alpharetta's Avalon.

How to keep the tenants while rebuilding it is the challenge.
Reply With Quote Quick reply to this message
 
Old 05-25-2022, 05:25 PM
 
Location: Lakewood Ranch, FL
564 posts, read 555,742 times
Reputation: 980
Quote:
Originally Posted by beach43ofus View Post
That is a steal! They will turn it into a mixed use retail, condo, hotel, office area w/ buildings upto 3-5 stories high.

It will be like the Mercado in Naples or a smaller version of Atlanta's/Alpharetta's Avalon.

How to keep the tenants while rebuilding it is the challenge.
If they want to stay there it will be easy. Sign a long term lease now, as when done the leases will be double what it is today.
Reply With Quote Quick reply to this message
 
Old 05-26-2022, 05:05 AM
 
Location: Free State of Florida
25,930 posts, read 12,951,218 times
Reputation: 19448
Quote:
Originally Posted by joshan View Post
If they want to stay there it will be easy. Sign a long term lease now, as when done the leases will be double what it is today.
Getting shoppers to look past the construction, and still shop there will be tough. It will be a mud and dust bowl for 2 years. I hope they can pull it off though. This will be a nice improvement to our area.

Now, what about the other old Westfield Mall further South in Palmer Ranch? That location isnt as desireable as nearer Downtown SRQ and Siesta Key, but its still a nice location. I think there are 4 owners of that property, and structuring a deal to satisfy all 4 is likely the hold up.

Buyers don't like dealing w/ multiple owners. 1st question Im asked when people approach me to buy my business is "are you the sole owner?"
Reply With Quote Quick reply to this message
 
Old 05-26-2022, 09:59 AM
 
64 posts, read 53,744 times
Reputation: 76
The congestion is already bad, there...just wait
Reply With Quote Quick reply to this message
 
Old 05-27-2022, 08:55 AM
 
91 posts, read 77,151 times
Reputation: 190
I seem to recall that Benderson offered cash incentives to key tenants at Westfield Siesta mall (i.e. Dillards, Saks) to get them to move to UTC. When those two retailers left, it killed that mall.
Reply With Quote Quick reply to this message
 
Old 05-27-2022, 09:59 AM
 
Location: Free State of Florida
25,930 posts, read 12,951,218 times
Reputation: 19448
Quote:
Originally Posted by gosouth01 View Post
I seem to recall that Benderson offered cash incentives to key tenants at Westfield Siesta mall (i.e. Dillards, Saks) to get them to move to UTC. When those two retailers left, it killed that mall.
Now Benderson is going back to Westfield Siesta Mall to feed off the carcus it left behind after UTC opened; which is the land & prime location.
Reply With Quote Quick reply to this message
 
Old 05-28-2022, 04:51 PM
 
64 posts, read 53,744 times
Reputation: 76
Quote:
Originally Posted by joshan View Post
If they want to stay there it will be easy. Sign a long term lease now, as when done the leases will be double what it is today.



wrong...not Benderson's plan lol, sorry, but you just got here from freekin CHICAGO, so you don't even know Benderson's footprint or anything else.....yes, I DO know what's going to happen on that property!


Guess about Chicago, where you're from ! otherwise............
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2022 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top