- May 18, 2026
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The developer of the Sarasota Square property at the corner of South Tamiami Trail and South Beneva Road has almost fully leased its first wave of commercial buildings, which are currently under construction. When complete, the former mall site will be turned into a mixed-use town center that incorporates retail, dining, residential and outdoor areas, according to Torburn Partners, the Illinois-based commercial real estate investment firm developing the property.
After the firm spent millions acquiring the nearly 100-acre site and obtained county approval for the mixed-use project, demolition of the Sarasota Square Mall began in February 2025 and took months. Since then, buildings have been cropping up on the property that will soon house tenants, from a grocery store to a financial services firm.
In all, phase one of the redevelopment project calls for 90,000 square feet of commercial space. Tenants so far include Whole Foods, Homesense, Charles Schwab, Cava, Joe & the Juice and Chipotle Mexican Grill.
With the addition of eyewear brand Warby Parker — which recently signed a lease for a 2,040-square-foot store next to Whole Foods — the first phase is 88% pre-leased, according to a statement. That means 79,200 square feet has been accounted for so far.
Delivery for the first phase of the project is projected for the first quarter of 2027.
“With Phase 1 nearly fully leased and construction well underway, the vision is no longer abstract — it's becoming real,” Torburn Partners CEO Michael Burns says in the statement. “Phase 2 will take that ambition further, creating the kind of walkable, experience-driven environment that Sarasota has been waiting for and that today's consumer actively seeks out.”
For its second phase, the Sarasota Square project calls for 160,000 square feet of street-oriented shopping and dining space, designed around a central lawn. The merchandising strategy focuses on premier fashion brands, chef-driven restaurants and boutique fitness operators, according to the statement. It is expected to open by the end of 2028.
To handle leasing for the second phase as well as placemaking for the project, Torburn Partners has enlisted Atlanta-based real estate investment and management company Jamestown. Among Jamestown’s portfolio projects are One Times Square and Chelsea Market in New York; Industry City in Brooklyn; Ponce City Market in Atlanta; Ghirardelli Square and Levi’s Plaza in San Francisco; and Groot Handelsgebouw in Rotterdam in the Netherlands.
“Sarasota Square represents a rare opportunity to curate a next-generation retail and dining environment in one of Florida’s most compelling coastal markets,” Jamestown Head of Retail Leasing Adam Schwegman says in the statement.
Jamestown has created a new brand identity for the Sarasota Square project, positioning it as a “timeless coastal destination” with Mediterranean influence and modernist, climate-responsive design. The redevelopment will include lush landscaping, shaded pedestrian corridors and gathering spaces.
“With Phase 2, we’re targeting operators that deliver a sense of discovery and a unique point of view," Schwegman says. "The early response from prospective tenants has been incredibly strong, reinforcing our belief that this will become a true community destination centered around experience, connection and everyday use.”
Partners in the Sarasota Square project include OKW Architects of Chicago; Canadian-based engineering, architecture and environmental consulting firm Stantec; and Retail Strategy and Brand Partnerships Advisor Holly Cohen, a Miami-based retail strategist whose clients include Nike, J. Crew, Banana Republic and Old Navy.
Another component of the Sarasota Square project is apartments, which will likely begin development in the months ahead.
Torburn Partners recently sold a 4.5-acre parcel designated for a future multifamily community to North Carolina-headquartered Woodfield Development. The property along Sarasota Square Boulevard sold for $18.2 million in March, according to Sarasota County property records.
Woodfield Development has more than 60 multifamily projects from the eastern seaboard to Texas in its portfolio. In Sarasota, plans call for a 360-unit apartment complex with garage parking.
Groundbreaking for the apartment project is expected this summer.
