Costco buys Sarasota Square property for $10.5 million

A retail giant recently purchased the property where its store in Sarasota County is located. Costco Wholesale Corp. bought 8201 S. Tamiami Trail, Suite 501, for $10.5 million, according to Sarasota County property records.

The seller is 8201 Sarasota Mall East LLC, an LLC that corresponds to Torburn Partners, the Illinois company that owns and is redeveloping the former Sarasota Square Mall. 

Demolition of the mall began this winter. The entire building is set to be demolished, except for JCPenney, which will stay open, and the nearby Costco. AMC Theater, which closed last Halloween, will remain vacant, according to county records.