Pier 1 to take Borders space in Paradise Plaza… Verizon to open a store at the former El Adobe location in Sarasota.
by: Alex Mahadevan via The Observer
After sitting empty for nearly four years, the skeleton of the former Borders bookstore in Paradise Plaza will soon have very different tenants.
Pier 1 Imports will move its store out of the Landings Plaza at the end of March and open in a portion of the 21,000-square-foot space later this year, said Pier 1 Regional Manager Heather Weisenborn. Columbus, Ohio-based stylist community firm Salon Lofts will open its second Sarasota location at the beginning of May next to the home decor store, according to Salon Lofts Market Manager Danielle Haefele.
Three permits for $1.1 million worth of demolition and renovation work have been filed with the city of Sarasota.
Salon Lofts leases individual “lofts” to stylists and beauticians, 35 of which will be available at the new location.
“We opened the University Parkway location (fully leased),” Haefele said. “That’s the expectation now.”
Paradise Plaza owner ECHO Realty LP bought the entire 139,000-square-foot shopping center for $27 million in August, with intentions to break up the Borders space.
“It’s in an exceptional location,” said ECHO Realty Senior Vice President Drew Gorman.
Less than one block away, real estate investment plans for the former El Adobe Mexican restaurant have come into focus. Tampa-based Brightwork Real Estate, which bought the property for $2 million last year, will convert the building to a Verizon Wireless retail store, according to a $700,000 permit filed with the city last year.
El Adobe closed after more than 40 years in operation.