BUYER: Kohl's Department Stores Inc., Menomee Falls, Wis.
SELLER: BLDG Sarasota LLC and Bacael Sarasota LLC
PROPERTY: 3860 Central Sarasota Parkway, Sarasota
PRICE: $3.8 million
PREVIOUS PRICE: $14.71 million, May 2007
PLANS, DESCRIPTION: Kohl's Department Stores Inc. purchased a 54,401-square-foot former Albertsons in Oaks Plaza for $3.8 million.
The price equated to $70 per square foot.
David Conn of CB Richard Ellis' Tampa office represented the buyer and Josh Dorminy of Camm Management Inc. represented the seller.
“There aren't a lot of options in south Sarasota, and Kohl's wanted to do something in south Sarasota,” Conn says. “It's safe to say that Florida is an expansion state for them.”
Menomonee Falls, Wis.-based Kohl's operates 1,089 stores in 49 states. It has stores in Brandon, Clearwater, Cape Coral, New Port Richey, Port Charlotte, Sarasota, St. Petersburg and Tampa. It opened its Sarasota store in 2008.