Feldman Equities expects to begin renovations within 45 days on its recent acquisition of Sarasota City Center, which is comprised of two Class A office buildings downtown. CEO Larry Feldman tells GlobeSt.com that the renovations, which will include modernization of common corridors and the main lobby, will be complete by the end of the year or during the first part of 2021. Vacant suites will be upgraded, and some will be pre-fitted with offices and reception areas for tenants seeking an immediate move in. The buildings, connected by a common atrium, are currently 80% occupied.
Feldman says his firm has had its eye on Sarasota for a while. He describes the market as hot. “We will continue to expand our reach on the west coast of Florida, where we are a significant owner, Feldman says.
Don’t miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now! Free unlimited access to GlobeSt.com’s trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.