May 21, 2024

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Business is my step

Sarasota’s Westfield Siesta Key shopping mall is below new ownership

2 min read
The inside of Westfield Siesta Key Mall in 2014. The mall is under new ownership.

Starting following 12 months, Westfield Siesta Crucial mall in Sarasota will no more time be a Westfield home.

The 435,000-square-foot mall, at U.S. 41 and Siesta Generate in the town of Sarasota, is now owned and operated by O’Connor Cash Companions, a real estate enhancement, financial commitment and management organization with workplaces in New York, Palm Beach and Mexico Metropolis.

Unibail Rodamco Westfield and O’Connor beforehand owned the mall in a joint-venture partnership in which O’Connor owned 49% of the property, but now O’Connor has obtained Westfield’s desire, according to a news release from both of those providers. Westfield will keep on to handle the shopping mall via Thursday, and immediately after that, the property will be rebranded. 

“O’Connor is excited to continue to be element of the partnership that owns the shopping middle. We feel it has a brilliant long run because of to its excellent spot and loyal client base,” Joel Bayer, president of O’Connor Funds Partners, explained. “We seem ahead to functioning with the neighborhood to continue to increase merchants and dining places that will provide their requirements and requests.” 

The organization did not provide details about feasible new retail or restaurant tenants. 

Westfield obtained the mall in 2003. In recent years, it has taken a extra arts-centric tactic, with tenants like Empire Gallery and Rise Earlier mentioned Undertaking Arts going in. Luxury movie theater chain CineBistro moved in 2016 to the internet site formerly occupied by Saks Fifth Avenue.

Westfield also experimented with incorporating new eating places for a period in 2017 – Bravo Coastal Bar & Kitchen area, Connors Steak and Seafood, Metro Diner, Naples Flatbread Kitchen area & Bar and BurgerIM. All but Connors have given that shut, and BurgerIM never even opened. 

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