Crossings At Siesta Key Mall Bought By Benderson Development

SARASOTA, FL — Benderson Development has purchased Crossings at Siesta Key, formerly known as Westfield Siesta Key, the University Park-based real estate company said in a news release.

The 439,958-square-foot partially enclosed regional mall at 3501 S. Tamiami Trail in Sarasota sold for $25.1 million, according to the Observer Media Group.

is anchored by Macy’s and a seven-screen CMX CinéBistro. Other tenants include Connors Steak & Seafood, Talbots, LensCrafters, Loft, Chico’s, Cali Day Spa and Art Avenue.

In December 2020, O’Connor Capital Partners became the sole owner and operator of what was then called the Westfield Siesta Key mall. The mall was rebranded as Crossings at Siesta Key in early 2021.

Prior to this, O'Connor and Unibail Rodamco Westfield co-owned the mall as a joint-venture partnership. While O'Connor held 49 percent of the property, Westfield was the majority owner with 51 percent. O’Connor later bought out Westfield’s interest in the property.

The mall sits on 26.97 acres at the intersection of U.S. 41 and Bee Ridge Road, just minutes from Downtown Sarasota, Siesta Key, Lido Beach and St. Armands Circle.

“The mall complements our local holdings, and we look forward to the future of this important asset,” said Shaun Benderson with Benderson Development.

No specific plans for the property were announced. In its news release, Benderson said that it focuses on “transforming underperforming properties into thriving destinations that serve the needs and wants of the community.”

In recent years, the company has been “aggressively growing its portfolio,” the news release said. Among recent acquisitions are a 4.5-million-square-foot portfolio of 28 Fred Meyer superstores located in the Pacific Northwest and Alaska, the Whole Foods in Alexandria, Virginia, the Thrivent Financial headquarters in Minneapolis, Minnesota and an interest in Duke Energy’s Metro Tower in Charlotte, North Carolina.

Founded in 1949, Benderson Development is one of the nation’s largest privately held real estate companies with more than 800 properties totaling over 48 million square feet in 40 states.