{"id":1004660169,"date":"2023-05-03T05:42:19","date_gmt":"2023-05-03T13:42:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004660169"},"modified":"2023-05-03T05:42:20","modified_gmt":"2023-05-03T13:42:20","slug":"benderson-buys-sarasota-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/","title":{"rendered":"Benderson Buys Sarasota Retail Asset"},"content":{"rendered":"
\"Bee<\/a>

Bee Ridge Square. Image courtesy of Benderson Development<\/em><\/p><\/div>\n

Benderson Development<\/strong> has acquired Bee Ridge Square, a 128,399-square-foot retail center in Sarasota, Fla. Burlington Coat Factory Warehouse Corp<\/strong>. sold the asset for $14.4 million, according to Business Observer<\/em>. Atlantic Capital Partners’\u00a0<\/strong>Justin Smith, Chris Peterson, Fred Victor and Sam Koonce represented the seller and procured the buyer.<\/span><\/p>\n

Earlier this year, Benderson Development also acquired a grocery-anchored, 54,226-square-foot retail asset in Cambridge, Mass.<\/a> The property encompasses a two-story, 40,800-square-foot Whole Foods Market and an adjacent 13,426-square-foot Walgreens store.<\/p>\n

A Sarasota retail center<\/h2>\n

Located on roughly 12 acres at 3941 Cattlemen Road, the shopping center came online in 1982, CommercialEdge data reveals. A Burlington store, which has been operating at the property since 2003, anchors Bee Ridge Square. The tenant roster also includes Stage Door Studios, ofKors Bakery and EGGSTraordinary Caf\u00e9, among others.<\/p>\n

Bee Ridge Square is in a highly trafficked area just west of Interstate 75. Downtown Sarasota is some 8 miles northwest.<\/p>\n

\n

READ ALSO:<\/strong> From Transactions to Interactions: What\u2019s Next for Experiential Retail?<\/a><\/p>\n

\n

Despite an overall decrease in year-over-year retail sales growth in the first quarter of this year, certain categories such as department stores, miscellaneous retail and electronics stores showed still piqued investors’ interest, a recent CBRE<\/strong> report<\/a> shows.<\/p>\n

In the first quarter, the national average retail availability dropped to 4.8 percent, marking a 50 basis point decrease from the previous year. The value represents the lowest level since CBRE began monitoring the market in 2005.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Burlington store anchors the 128,399-square-foot property. <\/p>\n","protected":false},"author":3030,"featured_media":1004660170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,51973],"tags":[41030,47339,32789],"class_list":["post-1004660169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-southwest","tag-benderson-development","tag-burlington-coat-factory","tag-cbre"],"acf":[],"yoast_head":"\nBenderson Buys Sarasota Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot retail center in Sarasota, Fla., for $14.4 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benderson Buys Sarasota Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot retail center in Sarasota, Fla., for $14.4 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-03T13:42:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-03T13:42:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Bee-Ridge-Square.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1446\" \/>\n\t<meta property=\"og:image:height\" content=\"1085\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/\",\"name\":\"Benderson Buys Sarasota Retail Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Bee-Ridge-Square.jpg\",\"datePublished\":\"2023-05-03T13:42:19+00:00\",\"dateModified\":\"2023-05-03T13:42:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"Benderson Development has acquired Bee Ridge Square, a 128,399-square-foot retail center in Sarasota, Fla., for $14.4 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/benderson-buys-sarasota-retail-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Bee-Ridge-Square.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Bee-Ridge-Square.jpg\",\"width\":1446,\"height\":1085,\"caption\":\"Bee Ridge Square. 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