Joe’s Crab Shack Location Sells for $4 Million – CoStar Group

Joe’s Crab Shack Location Sells for $4 Million – CoStar Group.

From CoStar:
Banyan Tree Asset Management acquired the 6,911-square-foot retail building at 151st Street South in Jacksonville Beach, FL for $4 million, or $579/SF.

The property is currently home to Joe’s Crab Shack, a national seafood chain signed to a six-year NNN lease. Included in the sale was a 90-space surface parking lot, a rarity for the Jacksonville Beach area.

About Ernie Saltmarsh

Ernie works for Colliers International in the Northeast Florida Investment Services Group. The team includes Robert Selton, Scott Rogers, Ernie Saltmarsh and Adrienne Miller. Ernie works with buyers who are looking to invest in commercial real estate and sellers who are looking to dispose of investment assets. Ernie's background in research, marketing and finance provide the vital skills necessary to serve his clients.

Posted on April 4, 2014, in Single Tenant Net Leased (STNL), Transactions and tagged , , , . Bookmark the permalink. Leave a comment.

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