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Last Updated ( Thursday, 26 April 2012 14:17 )
DATE_FORMAT_LC2=Thursday,April 26 2012 12:00:00 am EDT   
Building Begins on $315 Million Mall

TAUBMANWEBUniversity Town Center will open in 2014.SARASOTA, Fla.  — Taubman Centers will soon begin construction of University Town Center, an 880,000 square-foot mall anchored by Saks Fifth Avenue, Macy's, Dillard's and a fourth department store that has not been finalized. Taubman and Sarasota-based Benderson Development are developing the enclosed mall, which will open in fall of 2014. Taubman and Benderson will each own 50 percent of the property. Taubman will be responsible for the development, management and leasing.

The $315 million mall is expected to fill in some retail gaps on the west coast of Florida. More than half of the 115 stores will be new to the market, and the Saks will be twice the size of the existing Sarasota store.

"This represents the perfect addition to the Gulf Coast's finest retail corridor," said Randy Benderson, president of Benderson Development. "This extraordinary investment in southwest Florida's future will exceed anyone's expectations."

 

 

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