Columbia ownership group buys St. Armands location

The owners of the Columbia Restaurant on St. Armands Key earlier this month fulfilled a long-running goal of buying the building it has occupied since 1959.

Columbia Restaurant Group closed on the sale of the building at 411 St. Armands Circle from St. Armands Circle Investments Ltd. for $18,250,000 on June 3. The deal includes the restaurant space, in addition to adjoining space occupied by Cha Cha Coconuts and second-floor space that is occupied by other businesses.

It previously sold in 1994 for $3,850,000.

In a statement, Columbia Restaurant Group said since opening in Sarasota, the Columbia operated under an initial 50-year lease, extended for 25 years  before it came to a close. The current lease would have expired in 2035.

The Columbia had an opportunity to buy the property in 1960 for $240,000, but lacked the capital, the statement said.

“Now we control our own destiny,” said Richard Gonzmart, fourth-generation “caretaker” and an owner of the Columbia. ““We can further improve the kitchen and other areas of the restaurant – including the rear of the building, which we want to be as welcoming as the front.”

Casey Gonzmart, a fourth-generation Columbia owner and also a former general manager at the location starting in 1971, celebrated the purchase.

“Our restaurant has been a mainstay on St. Armands Circle for 60 years,” he said. “The strength, vitality, business diversity and future growth opportunities in Sarasota are without equal. This confirms our families’ commitment to this wonderful community for future generations.”

The St. Armands location is the second oldest in the Columbia chain, following behind the Ybor City location, which has operated almost 115 years. Other locations include: St. Augustine, Clearwater Beach’s Sand Key and Celebration. Smaller Columbia cafes are in operation in Tampa International Airport and Tampa’s History Center.