Sarasota's Main Plaza sells for $20 million

SARASOTA — A Greenwich, Conn.-based real estate investment trust that specializes in properties located in federally qualified Opportunity Zones has acquired the Main Plaza office and retail complex in downtown Sarasota for $20 million.

Belpointe REIT Inc., which sold initial shares to the public in March, plans to develop apartments, new office space and parking on the 8.6-acre tract, which is currently anchored by a Regal Cinemas’ Hollywood 11 theater. Belpointe officials couldn't be reached for comment immediately, but the deal was confirmed by the seller, BBC Main Street.