Sarasota's Temple Beth Sholom Exploring Strategic Alternatives for its Excess Land

Ian Black Real Estate engaged to explore options to monetize 6 to 7 acres of the 10-acre property
By: Ian Black Real Estate
SARASOTA, Fla. - Jan. 8, 2024 - PRLog -- Temple Beth Sholom, a full-service egalitarian congregation dedicated to promoting intellectual and spiritual guidance to the Jewish community of Sarasota and surrounding areas, is exploring strategic alternatives for its excess land at 1050 S. Tuttle Ave., approximately 1 mile south of Fruitville Road.

The organization currently owns 10 acres at this location, which includes the Temple's sanctuary, event spaces and offices at the north end of the property. In addition, the organization owns two other buildings on the property that total approximately 50,000 square feet, both of which are currently leased and operated as schools.

The thriving congregation will maintain use and ownership of the sanctuary/event space building, and leadership has engaged commercial real estate firm Ian Black Real Estate to explore alternatives for the 6 to 7 acres of land south of the sanctuary.

"Our congregation is as committed as ever to serving our strong, vibrant community from this location, and to continuing to provide outstanding religious, educational and cultural experiences," said Al Treidel, President of Temple Beth Sholom. "With a large part of this property underutilized, it's time to consider opportunities for a use that's compatible with our Temple that would also help support the future of our congregation."

"Temple Beth Sholom has been a landlord for many years," said Ian Black, CCIM, partner at Ian Black Real Estate. "The Temple's leadership has decided to evaluate options for its excess property that will provide it with the resources to focus on serving Sarasota's Jewish community and its stakeholders rather than continuing to lease and maintain the two buildings and allowing the excess land to sit unused."

Currently, the property is zoned MCI, which is intended to permit institutional uses of a medical charitable, philanthropic, altruistic, religious or social character, as well as assisted living facilities, nursing homes and residential treatment facilities.

"This property is located at the highly desirable intersection of Tuttle Avenue and Bahia Vista Street, surrounded by residential and commercial development, offering easy access to Fruitville Road, Interstate 75 and downtown Sarasota," Black said. "And, of course, if the right opportunity comes along, a rezone, such as for multifamily use, may be a viable option."

"Since the Temple's operations will be ongoing at our current location, it is important that we make use of this surplus land in a manner that is compatible with our mission and aligns with our community's values," said Treidel. "Our goal is to generate the highest value without impacting the operations of the Temple."

Ian Black Real Estate
Source:Ian Black Real Estate
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Industry:Real Estate
Location:Sarasota - Florida - United States
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