Real Estate
Colliers Announces the Sale of Glengary Shoppes in Sarasota, FL
Glengary Shoppes, a Dominant Retail Shopping Center in Sarasota, FL, was sold for $30.5 million.
Colliers U.S. has arranged the sale of Glengary Shoppes, a 97% occupied, 95,489-square-foot retail shopping center in one of Florida’s fastest-growing submarkets for $30,500,000. The property in Sarasota, along South Tamiami Trail, has average daily traffic of nearly 50,000 cars per day.
Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Regency Centers, and the buyer was Benderson Development.
“This transaction illustrates the reach and connections of the Colliers Capital Markets platform, working with institutional firms on the most important assets in some of the most dynamic markets,” said Peterson, Vice Chair of Colliers.
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Glengary Shoppes was built in 1995 situated on 10.5 acres and features best-in-class national anchors Best Buy and Barnes & Noble, along with separately parceled Regions Bank on a ground lease and IHOP outparcel. Glengary Shoppes is located in west Florida’s most affluent Sarasota submarket, which ranked as the #2 Fastest Growing Place and #5 Best Place to Live in the United States by U.S. News and World Report in 2023.
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Noelle Fox
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
About Regency Centers
Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.
About Benderson Development
Founded in 1949, Benderson Development has grown to become one of the nation’s largest privately held real estate companies. The company’s portfolio includes more than 800 properties totaling over 54 million square feet in 41 states. For more information, visit www.bendersondevelopment.com.
