The former Lulu’s Waterfront Grille in Ponte Vedra Beach sold Nov. 21 for $4.2 million.
The waterfront restaurant, which closed in 2021, is at 301 N. Roscoe Blvd. along the Intracoastal Waterway.
The seller is Cliff Moore through TQ Corp. Both are based in Ponte Vedra Beach.
The buyer is Alex Cranberg of Cranberg Holdings, through Shark Tooth Dining LLC. Both are based in Ponte Vedra Beach.
Cranberg is the CEO of Aspect Energy, according to the company website.
The 6,286-square-foot restaurant, built in 1971, is on 1.34 acres.
Lulu’s closed in December 2021. At that time, its website stated it would be reopening. It did not. The website is still active, but appears to not have been updated since 2022.
Lulu’s had a rustic fish camp feel with outdoor dining on its deck. Customers could arrive by boat or by car.
The owners of V Pizza were negotiating to purchase and open its first steakhouse concept at that location. However, negotiations fell through, according to Paul Scott, owner of V Pizza. They are building 14 Prime at 7519 Gate Parkway.
TQ Corp. bought the property for $600,000 in 2001.