A downtown Sarasota building that housed Florida Cancer Specialists & Research Institute for more than two decades has changed hands and is slated for redevelopment as a multitenant medical office property.

The approximately 19,500-square-foot facility at 1970 Golf Street sold for $8.43 million. Sarasota County property records identify the buyers as Abdelrahman and Sara Ayyad of Edgewater, Maryland. Abdelrahman Ayyad is CEO of Maryland-based Regency Furniture.

The transaction closed July 1. The seller was 1970 Golf LLC, an entity owned by Sarasota entrepreneur Jesse Biter.

Built in 2002, the two-story property was designed for medical use and includes an attached two-level parking garage. Its location at Golf Street and Washington Boulevard places it near downtown Sarasota and less than two miles from Sarasota Memorial Hospital.

The new ownership plans to divide the former single-user facility into spaces for multiple healthcare practices. Renovations are expected to begin during the fourth quarter of 2026.

Marketing materials indicate that the building already contains substantial clinical infrastructure, including exam rooms, infusion areas, imaging and laboratory space, a surgical suite, physician offices and patient reception areas. Proposed configurations could accommodate tenants seeking approximately 4,500 square feet, an entire floor or the full building.

Florida Cancer Specialists recently moved its downtown practice to the Milman-Kover Cancer Pavilion on Sarasota Memorial Health Care System’s campus. The oncology group occupies about 60,000 square feet on the fourth and fifth floors of the pavilion at 1941 Waldemere Street—more than three times the size of its former location. The expanded practice includes 27 exam rooms and 80 infusion chairs.

Cameron Wilson and Steve Horn of Ian Black Real Estate represented the seller in the Golf Street transaction. Matthew Cook of Exit King Realty represented the buyer.

The planned conversion will return the property to the Sarasota leasing market at a time when a growing downtown population is generating additional demand for conveniently located outpatient healthcare services. Its existing medical improvements and dedicated parking could also reduce the time and construction expense required by incoming practices.

Sources: Tampa Bay Business Journal, Business Observer, Florida Cancer Specialists