Once a mall, soon to be a neighborhood unveiled of Sarasota Square, the redevelopment of a 1970s enclosed retail center into a town center blending retail, dining, residential and outdoor space in a walkable, pedestrian-driven environment.
Construction is progressing rapidly on the first phase of the Torburn Partners/Jamestown project, which is already 88% pre-leased, including commitments from Whole Foods, Warby Parker, Cava and HomeSense. Phase 2 will add another 160,000 square feet of retail, dining and outdoor gathering space.
“With Phase 1 nearly fully leased and construction well underway, the vision is no longer abstract — it’’s becoming real,” said Michael Burns, CEO of Torburn Partners. “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.”
The new Sarasota Square also is yet another example of converting aging malls into mixed-use lifestyle destinations. The original mall was opened in 1977 by Arlen Realty and Development Corp., a predecessor of CBL & Associates, and was anchored by Maas Brothers, JCPenney and a small AMC multiplex. The center was acquired by Westfield Group in 2003 and refurbished, but with the loss of several anchors in the 2010s, the center struggled. It was acquired by Torburn Partners in 2021.
In total, the redevelopment will span nearly 100 acres and 530,000 square feet of retail, dining, wellness and experiential concepts, in addition to office space and 1,200 residential units.
Torburn Partners received approval for the redevelopment plan from the Sarasota County Commission in April 2024, paving the way for the retail and dining destination.
On track for a Q1 2027 delivery, Phase 1 of the project is well underway and will introduce approximately 90,000 square feet of daily-needs offerings, also including Charles Schwab, Joe & the Juice and Chipotle Mexican Grill.
Envisioned as approximately 160,000 square feet of elevated, street-oriented shopping and dining space, Phase 2 is designed around a central lawn built for hosting events, outdoor dining, and everyday gathering.
The merchandising strategy is focused on premier fashion brands, chef-driven restaurants, and boutique fitness operators that resonate with the Sarasota customer.
Phase 2 is expected to open by the end of 2028.
“Sarasota Square represents a rare opportunity to curate a next-generation retail and dining environment in one of Floridas most compelling coastal markets,” said Adam Schwegman, Jamestown head of retail leasing. “With Phase 2, we’re targeting operators that deliver a sense of discovery and a unique point of view. 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.”
The transformation of Sarasota Square reflects a broader reimagination of the site that aligns with the region’s distinct character, balancing Mediterranean influence with Sarasota’s legacy of modernist, climate-responsive design. Beyond the development and leasing updates,
Jamestown has created a new brand identity to reflect the project’s evolution into a timeless coastal destination rooted in authenticity, craftsmanship and a strong sense of place. The redevelopment will include lush landscaping, shaded pedestrian corridors and thoughtfully designed gathering places that encourage connection and repeat visitation.
Advancing the mixed-use vision, Torburn Partners has completed the sale of a 4.5-acre land parcel designated for a future multifamily community to Woodfield Development. The project, which includes a 360-unit rental property with garage parking, was expected to break ground this summer.
Sarasota Square is situated along U.S. 41 in South Sarasota and and is centrally located to upscale neighborhoods Palmer Ranch, Gulf Gate and Osprey. The area offers a high standard of living, supported by access to pristine Gulf beaches like Siesta Key and cultural amenities found within greater Sarasota, such as the Sarasota Opera and Art Center Sarasota.
In recent years, South Sarasota has become a focal point for growth, attracting local residents and businesses alike. Nearly 50,000 people live within a one-mile radius of Sarasota Square, underscoring the property’s significant position in the market and chance to influence its future, the developers said.
And population could continue to grow, according to the Realtor Association of Sarasota and Manatee (RASM)’s May market report. The report said that the area has shown continued buyer demand, declining inventory and increasingly distinct pricing trends across Sarasota and Manatee counties.
“We continue to see strong buyer demand alongside lower inventory, but what makes this market unique is that buyers are not rushing into decisions,” said David Crawford, 2026 RASM president and broker/owner of Catalist Realty. “They are taking the time to evaluate each property, understand its value and complete their homework before moving forward. Buyers remain active, but they are also disciplined and strategic.”
Collaborating on the redevelopment alongside Torburn Partners and Jamestown is Retail Strategy and Brand Partnerships Advisor Holly Cohen, OKW Architects, Stantec and EcoPlan.
