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When work begins in earnest on the Sabal Palm Plaza this summer, it will be the 15th ground-up building developed in Sarasota by retired physician Dr. Mark Kauffman, who began acquiring and redeveloping property in the city in the mid-1990s.
The $10 million project, on a triangular site at 1936 Ringling Blvd. that once was occupied by the Sarasota School of Massage, is slated to open in September 2017.
The 32,000-square-foot building is already more than three quarters pre-leased to Sabal Palm Bank and Gilbane Building Co. The top floor of the four-story structure remains available, Kauffman says.
Sabal Palm is providing financing for the project, which is being designed by architect Javier Suarez. Red Property Management Co., owned by Kauffman's daughter, Mindy, will provide property management.
Kauffman's other projects include the Bank of Commerce Building, Courthouse Centre, Links Plaza, the Stearns Bank Building and a building occupied by Florida Cancer Specialists, at 1970 Golf St.
“We certainly didn't intend it, but many of the buildings are in the same vicinity, a few blocks away from each other, and Sabal Palm will be in the heart of all of them,” Kauffman says.
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