Former Macy’s At Sarasota Square Sold To Chicago Firm: Report

Updated: 10 p.m., Wednesday

SARASOTA, FL — For nearly five years, the former Macy’s department store at Sarasota Square has sat vacant.

The retailer, which opened its doors in 1977, had a long history at the mall, operating for nearly four decades before closing for good in 2017.

Now, this 130,611-square-foot building at 8201 S. Tamiami Trail has a new owner, the Sarasota Herald reported. An entity affiliated with Torburn Partners, Inc. from the Chicago, Illinois area, purchased the property from MRH Sarasota LLC in May.

It’s the property’s second new owner in months. MRH Sarasota, based in Chattanooga, Tennessee, purchased the building for $4 million from Macy’s Feb. 24, according to Sarasota County property records.

The latest sale to Torburn hasn’t been recorded by the Sarasota County property appraiser yet, so more details aren’t available. The site still lists the building as being owned by MRH Sarasota.

According to county records, the two-story building, which was built in 1977, comes with 900 parking spaces, 16 escalators, two elevators and four bathrooms. It last sold in 1986 for nearly $3.7 million to an unnamed buyer.

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Torburn hasn’t given any indication of its plans for the property, the Herald-Tribune said.

According to the company’s LinkedIn page, it’s a privately owned commercial real estate investment firm that focuses on properties in Florida and Illinois. The firm specializes in acquisition, disposition, development, construction management and asset management.

Sarasota Square Mall is currently anchored by Costco, JCPenney and AMC Sarasota 12.

Read the full story in the Sarasota Herald-Tribune.