Jacksonville-based Ash Properties, through Beach South One LLC, paid $6 million for the oceanfront Joe’s Crab Shack property in Jacksonville Beach.
WJCT News partner the Jacksonville Daily Record reports that Elaine Ashourian, a principal of Ash Properties, said Monday the group bought the operating restaurant as an investment.
“They have a land lease on it,” she said. Ash Properties will determine “down the line what we’ll do.”
An expanded version of this story is at JaxDailyRecord.com.