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Just another failed store with many many more to follow. Once a powerhouse in the industry (1990s-2008) and now just another sad retailer failing like many others. I predict 30-40 stores closing 2022 if not a few more.
Published 12:02 p.m. ET Dec. 22, 2021Updated 12:06 p.m. ET Dec. 22, 2021
Staples is closing its downtown Sarasota store just a few months after the building was sold.
The office supplies retailer is closing its 1900 Fruitville Road location Jan. 7, according to a sign posted in the store window. The 18,120-square-foot property was sold in May to Connecticut-based Belpointe for $4.65 million.
In case you missed it:This downtown Sarasota retail building has sold for $4.65 million
Belpointe is the same company that owns five acres of Sarasota's Main Plaza, located directly south of the existing Staples building. The company purchased the Main Plaza property in 2019 for $20 million and is currently redeveloping it into apartments and retail space.
It's unclear what Belpointe plans to do with the Staples building once it becomes vacant but more recent plans for Main Plaza's redevelopment have included a mixture of housing, retail, and restaurants, with a possible grocery store.
Based in Massachusetts, Staples struggled for years following the Great Recession because of changing retail trends. In April, the company announced the widespread launch of Staples Connect, a new retail concept designed to serve changing workplace trends.
New Staples Connect stores include co-working spaces, printing and shipping services, and more.
The company has two other Sarasota locations, at 5429 University Parkway and 8199 S. Tamiami Trail.