Benderson Development Acquires Glengary Shoppes In Sarasota For $30.5M

Benderson Development has purchased Glengary Shoppes, a 95,489 sq ft retail property located at 4020 South Tamiami Trail in Sarasota. The sale price for the property was $30,500,000, resulting in a price per square foot of $319. The transaction took place on January 5, 2024. The property is situated in the Sarasota market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $30,500,000
• Address: 4020 South Tamiami Trail
• Market: Sarasota

Randy Benderson of Benderson Development acted as the buyer in the transaction, while Lisa Palmer, representing Regency Centers, served as the seller. The deal was facilitated by Colliers International brokers Whitaker Leonhardt and Brad Peterson.

The Glengary Shoppes shopping center, which is 97% leased, adds to Benderson Development's extensive local portfolio in Sarasota. The property features tenants such as Best Buy and Barnes & Noble. This acquisition complements Benderson's existing assets, including Crossings at Siesta Key and The Landings.