Torburn Partners has secured Whole Foods Market and five additional tenants for its 96-acre Sarasota Square redevelopment, marking a major step in transforming the former indoor mall into a luxury open-air community destination.
The Chicago-based firm announced the leases while construction on the retail phase is already underway.
Plans include 530,000 square feet of retail, restaurant and commercial space, 1,200 residential units and more than an acre of outdoor gathering space.
The first tenants include Whole Foods at 35,828 square feet, HomeSense at 24,214 square feet, fast casual brands Chipotle Mexican Grill, CAVA and Joe & The Juice, and a new Charles Schwab branch.
Torburn officials say more announcements are coming as the firm negotiates with additional national names in health, fitness, lifestyle and hospitality.
What happened
Once a regional mall serving Sarasota for more than four decades, Sarasota Square is being rebuilt as a next-generation mixed-use district designed around walkability, outdoor dining and curated community events.
Torburn is replacing the enclosed mall with an open-air environment similar to modern lifestyle centers across the country.
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The site’s demographics show why tenant interest is strong. The property sits near the 10,000-acre Palmer Ranch community, minutes from Siesta Key and within a fast-growing pocket of high-income households.
Torburn Managing Director Michael Simpson said securing Whole Foods as the first anchor was a “strong affirmation” of the project’s long-term potential.
Why this matters
Whole Foods is a market maker and rarely enters an area without long-term population growth, strong incomes and sustained demand.
Its early commitment signals deep confidence in South Sarasota and often attracts residential development and other national retailers that follow similar demographic criteria.
Torburn’s early tenant lineup also shows its strategy. Instead of leading with big box or soft goods, the firm started with food, wellness and lifestyle brands that drive daily traffic and shape the identity of modern open-air districts.
The announcement also fills a gap in this part of the city. South Sarasota has strong household income but an aging retail base that pushes residents north toward UTC for higher quality options.
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Sarasota Square brings better dining, walkable streets, community programming and a mix of local and national operators.
With 1,200 planned luxury residential units, the project adds density and year-round foot traffic needed to support a true mixed-use district.
What’s next?
Retail construction is already going vertical, and residential is expected to break ground in early 2026.
Torburn is negotiating with additional retailers and restaurants, and officials say more national tenants will be announced soon. The plan also includes a dedicated event venue for year-round programming.
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As the lineup expands, Sarasota Square could become one of the largest retail redevelopments underway on the Gulf Coast, watched closely by brokers, investors and residential developers tracking how high-end consumers continue shifting south in Sarasota.
Takeaway
Sarasota Square’s shift from an enclosed mall to a modern lifestyle center is moving quickly, and the addition of Whole Foods sets the tone for what’s to come.
With strong demographics, a strategic tenant mix and a major residential component, the redevelopment is shaping up to be a significant new anchor for South Sarasota.