Benderson buys space in Southgate Mall in Sarasota, FL

Benderson buys space in Southgate Mall in Sarasota, FL

by: Pam Eubanks

Benderson Development Company today closed on a 7.5-acre parcel owned by Dillard’s at Southgate Mall. The company spent $10 million on the property.

Benderson’s Director of Development Todd Mathes Benderson is waiting to see Southgate’s redevelopment plans before deciding what to do with the parcel.

“We’re pretty excited about the opportunity and to co-redevelop the property,” Mathes said. “As soon as (the mall is ready with their plan), we’ll be ready to react.”

The store could be leased to one tenant or subdivided, he said.

The prolific developer, which is part of the team behind the Mall at University Town Center, also bought office space near Pelican Plaza, which it is also currently redeveloping. A firm managed by Benderson spent $1.1 million on the parcel at the intersection of South Tamiami Trail and Marcia Street.

– See more at: http://www.yourobserver.com/news/east-county/Front-Page/1003201436448/Benderson-buys-space-in-Southgate-Mall#sthash.hgDoMzIt.dpuf

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