Arlen Realty and Development Corporation, a predecessor of CBL & Associates Properties, announced Sarasota Square Mall in 1976.

[4] Other early tenants in the mall included Camelot Music, Kinney Shoes, and Morrison's Cafeteria.

[5] Sears built a store at Sarasota Square on the additional anchor space on the north side, which opened on October 24, 1979.

[6] J. Byrons closed in 1985, and its space was converted into the Trellis Garden Food Court which opened in March 1986.

An expansion from the food court east began construction in 1986 which included a fourth anchor, Parisian, which was the store's second location outside its home state of Alabama.

[3] Along with the rest of the Burdines chain, the Sarasota Square store was renamed Burdines-Macy's on January 30, 2004, as the brands were merged by their parent company.

[19] In August 2020, the mall's noteholder, U.S. Bank National Association, notified Unibail-Rodamco-Westfield of proceeding with foreclosure action.

[20][21] The Florida Department of Health (FDOH) utilized the mall as a county-operated COVID-19 vaccination clinic from January to June 2021.

The current owner of the mall, Torburn Partners, proposed in May 2023 to redevelop the site by demolishing the majority of the mall except for the JCPenney and Costco anchor stores and planning 1,200 apartments on the site with build-out expected within five to seven years.