Shad Khan's company will purchase the Seahorse Inn and the Lemon Bar in Neptune Beach.
announced Friday morning that they are selling the property to Iguana Investments, LLC, a special property entity formed by the Jacksonville Jaguar’s owner.
Conversations between Khan and the Neptune Beach property owners Kathy Cole and her children Will and Emma began in March to express their desire to sell the properties to a “party with the appropriate financial resources and commitment to ensuring a promising future for the popular Beaches Town Center destination,” according to the news release.“This is a bittersweet day for our family.
“I have great faith in the future of Jacksonville, from downtown to the beaches and all the neighborhoods in between,” Khan said. “I’ve always appreciated the unique vibe of the Beaches Town Center community and it means a lot to me to play a small role in the community’s continued growth, just as we are with the development of Jacksonville’s downtown riverfront.
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