A New England group has acquired downtown Sarasota’s Ringling Square for $11.5 million.
Ringling Square is a five-story office and retail building with an adjacent five-story parking garage, built in 2005. Including the garage, Ringling Square totals 124,527 square feet, for a sales price that breaks down to $92 per square foot.
That figure is below replacement cost — it would cost significantly more than $90 per square foot to build the same building today.
Dennis Dahm, a commercial broker… …read more