Sprouts Farmers Market to Open in Downtown Sarasota
Sprouts Farmers Market, the renowned natural and organic food grocer, is preparing to establish its presence in downtown Sarasota. As part of the ongoing development of One Main Plaza, Sprouts has secured a lease for 23,000 square feet in the upcoming Aster & Links complex. This two-building development, situated on Main Street and Links Avenue, is being spearheaded by Belpointe REIT Inc. from Greenwich, Connecticut.
The addition of Sprouts will contribute to the growing number of natural food and organic grocery options in the area, with Whole Foods Market located just a mile away on First Street. Signing a 10-year lease for the space, Sprouts is making a significant commitment to the region. The grocer’s expansion in the state of Florida is evident, with a new location in Bradenton set to open on June 30, followed by another in Fort Myers on July 21. Currently, Sprouts operates 39 stores in Florida, including one in Sarasota and one in Tampa.
The Aster & Links complex, as described by Belpointe, will feature a total of 424 units, ranging from one- to three-bedroom apartments and four-bedroom townhome-style penthouses. The development consists of two high-rise buildings, a seven-story structure at the front and a ten-story building at the rear. In addition, the complex will provide 900 parking spaces. Belpointe’s statement also mentions plans for over 55,000 square feet of ground floor retail space within the development.
One Main Plaza is being constructed to replace the previous Main Plaza; a 259,000-square-foot facility located at the eastern entrance to downtown Sarasota. Adjacent to the new development is Regal Cinemas’ Hollywood 11 theater, which holds a lease through 2029. Belpointe, a private equity company specializing in the development of properties in federally designated Opportunity Zones, acquired approximately 8.6 acres of the Main Plaza site in December 2019 for $20 million. This purchase marked Belpointe’s first acquisition since its inception and initial public offering earlier that year.
Originally established in 1985, Main Plaza underwent revitalization by a Sarasota investment group led by developer Mark Kauffman and attorney David Band. Their efforts brought in new office and retail tenants, but Main Plaza faced challenges in retaining business over the years. Notably, several restaurants, including Applebee’s, Ker’s Wing House, and a YMCA branch, closed their operations within the plaza.
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