BUSINESS

This downtown Sarasota retail building has sold for $4.65 million

Derek Gilliam
Sarasota Herald-Tribune
Belpointe Companies bought a 18,120-sqaure-foot retail building at 1900 Fruitville Road. The purchase is just one of several by the Greenwich, Connecticut-based company.

An 18,120-square-foot retail building in downtown Sarasota has been sold to a Connecticut-based company.

The property at 1900 Fruitville Road was sold to Belpointe Companies through the BPOZ 1990 Fruitville LLC for $4.65 million.

George Brusco of Ian Black Real Estate represented the seller in the transaction, and Kevin Robbins of Harry E. Robbins Associates Inc. represented the buyer. 

The property Belpointe purchased is currently leased by Staples in a standalone building.

This is the latest in a series of purchases for Belpointe Companies in Sarasota's downtown, including the property directly to the south of the 18,120-square-foot retail building at 1991 Main St.

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This is an elevation of the Belpointe Companies apartment project in downtown Sarasota at 1991 Main St.

In Nov. 2019, Belpointe Companies purchased 5.1 acres of the downtown Sarasota retail plaza at 1991 Main St. for $20 million.

The other roughly 3 acres of the plaza as well as the Hollywood 11 movie theater were excluded from the sale and retained by BBC Plaza LLC and Biter Buildings LLC. That part of the plaza was put up for sale in February for $19.5 million.

Belpointe Companies announced in 2019 it planned to build 418 market-rate apartments and more than 50,000 square feet of retail space.

Plans have been moving along with the most recent communication with Sarasota city officials coming in June. The developers of the property received administrative site plan approval on March 9, but had applied for a minor change to the approved plan.

On June 15, city officials signed off on the changes, noting the technical review could begin, which would include building permits.

This is a screen shot of properties Belpointe Companies has purchased since 2019 near the 1700 block of Main Street. The properties bordered in purple are now owned by Belpointe Companies.

Plans filed with the city show two 10-story buildings with commercial uses on the ground floor. The majority of the non-residential space would front Main Street and Links Avenue.

A phone call seeking additional details was not immediately returned Monday afternoon.

The Belpointe Companies has also purchased several other downtown Sarasota properties mainly in the 1700 block of Main Street.

They've purchased about 3 acres in that vicinity for about $13.6 million, according to the Sarasota County Property Appraiser's website.