Brooklyn investor buys Sarasota retail center for nearly $9M

Chili's Plaza, a well-known Sarasota shopping center, has been sold to an out-of-state investor.

The 34,610-square-foot retail property is at 4141 S. Tamiami Trail, just south of Bee Ridge Road and near the development of the Bath + Racquet Residences & Club at 2170 Robinhood St.

Sarasota County property records show the buyer is a Brooklyn, New York, LLC created March 6 named 1875 Lexington. It paid $8.9 million for the property. 

LQ Commercial Real Estate Services, which announced the sale, did not disclose who the LLC is owned by, describing it as a private investor that already owns commercial property in the area.

A search of the state’s Division of Corporation’s database shows the LLC’s address is an office building on Front Street in Brooklyn but neither Sarasota nor Manatee County showed an LLC by that name owning property in the area.

Chili's Plaza’s previous owner, C Plaza of Sarasota, paid $5.2 million for the center in 2000.

LQ says the shopping center was fully occupied at the time of sale and has a tenant roster that includes Anytime Labs, Shine Hair Design Studio, Loved Again Boutique as well as the restaurants AJI Ceviche and La Locanda di Diego.

A previous listing for the center on the commercial real estate website LoopNet shows that the Chili's Plaza was built in 1986 and sits on 2.33 acres.

LQ’s Mark Shellabarger represented the buyer.