A local investment group with ties to PGA golfer Greg Norman acquired the Main Plaza/Hollywood 20 complex in downtown Sarasota for $18.1 million, with the aim of reviving the aging office and retail center.
The entrepreneurs behind the group, Jesse Biter, Eric Baird and David Chessler, say they have no set plans for the property. The deal closed Nov. 12.
“That side of Main Street has really struggled,” Chessler said, in an interview with the Business Observer. “We want to do something special there. We want it to be magnificent for the community.”
Redeveloping Main Plaza could be a daunting task. In addition to a lack of surrounding new development, Main Plaza has lost tenants of late, and the 30-year-old complex is showing signs of age.