Sarasota Orchestra Acquires 32-Acre Site On Fruitville Road In Sarasota For $14M

The Sarasota Orchestra has purchased a 32-acre site on Fruitville Road in Sarasota, Florida, for $14 million. The property is located in Sarasota and is zoned as land. The transaction took place on 05/08/2023. The buyer, representing the Sarasota Orchestra, is Joe McKenna. The seller is Wal-Mart Stores East LP.

Summary of transaction details

• Property Type: Land
• Transaction Amount: $14,000,000
• Address: 5701 Fruitville Road, Sarasota, Florida
• Market: Sarasota
• Buyer: Sarasota Orchestra - Joe McKenna
• Seller: Wal-Mart Stores East LP

The Sarasota Orchestra plans to utilize the site to build a new music center. The center will include an 1,800-seat concert hall for acoustic music, a 700-seat flexible-use performance space, rehearsal rooms, and office space. The project scope and timeline will be finalized later this year, following a fundraising feasibility study. The entire design-to-completion process is expected to take five years.