Ritz-Carlton developer buys prime site for $5.4M

A firm controlled by area developer Kevin Daves bought two buildings in a prime spot of downtown Sarasota for $5.4 million.

Daves, through The Blvd Sarasota LLC, bought the former CoCentrix property at 540 North Tamiami Trail last month, according to the Sarasota Observer, sister paper of the Business Observer. Three parcels involved in the transaction total roughly 36,000 square feet.

The buildings are across the street from the former Quay site, where GreenPointe Communities plans to develop up to 695 condos and 175 hotel rooms, along with retail and office space as part of the $1 billion Sarasota Bayside project. The Kolter Group is nearly finished with the Vue Sarasota Bay on the same stretch of road and Jebco Ventures is currently building an Embassy Suites in the same corridor.

Daves, president of Core Development, was a co-developer behind the Ritz-Carlton, Sarasota — which is next to the Vue. His company also built the Concession in east Manatee County.