The West Villages, FL— Main Street Ranchlands, LLLP, the commercial developers in West Villages, and The Sembler Company formed a joint venture to develop the Marketplace at Coastamar in West Villages. This is the first commercial opportunity in the rapidly growing master-planned community in south Sarasota County. The name “Coastamar” was selected for its reflection of the coastal feel in the community that is just minutes from beaches.
The first phase will include a grocery-anchored experience with 60,000 to 80,000 square feet of retail and commercial space. Coastamar will be home to about 600,000 square feet of non-residential space—including retail, restaurants and entertainment. There are 3 million square feet planned for commercial experiences in West Villages.
“Sembler is the ideal partner for us. We like their vision and energy and the team approach they take,” said Martin Black, general manager of West Villages. “We are creating a destination that will be a showcase for all of the west coast of Florida. This will be an economic driver as well as provide valuable and vital services that contribute to the lifestyle here.”
The planning and permitting is underway for the property located on the west side of U.S. 41, north of the SCF-Venice campus. The partnership will break ground within the next 12 months and will open in late 2017.
“This is exactly the kind of opportunity we look for—it’s innovative, attractive and will be part of a welcoming community, “ stated Josh Beyer, P.E., senior vice president of development at The Sembler Company. “We are dedicated to this market and see many strategic advantages here and look forward to our mutual success.”
The Sembler Company is celebrating over 50 years of creating retail real estate value. Sembler provides a full array of retail real estate services, including development and redevelopment, acquisition, property and asset management, leasing and other related services throughout the southeastern United States and Puerto Rico. Sembler has developed more than 325 projects totaling 27 million square feet and currently leases and manages over 11 million square feet. For more information, please visit www.sembler.com
About West Villages
The 10,000 acres that comprise the West Villages (www.MyWestVillages.com) are located adjacent to the US Highway 41 corridor in South Sarasota County between the urban centers of the City of Venice and the City of North Port. The community is being developed by a partnership that includes Mattamy Homes (www.MattamyHomes.com), the largest privately owned home builder in North America, and Vanguard Land, one of the region’s premier and well-respected land developers.