Property is at 412 and 422 N. First St. next to the Jacksonville Beach Pier.
The proposed SpringHill Suites by Marriott hotel is a step closer to development along the Jacksonville Beach oceanfront.
Jax Pier Lodging Group LLC bought the 0.99-acre property Tuesday at 412 and 422 N. First St. next to the Jacksonville Beach Pier.
Chattanooga, Tennessee-based hotel developer Hiren Desai, manager of the Jax Pier Lodging Group, paid $6 million for the property that comprises The Pier Cantina & Sandbar restaurant and surface parking.
The seller was 412 Boardwalk Inc. and 422 Boardwalk Inc., led by Chris and Elias Hionides, the family-founded and owned full-service real estate brokerage, development and management company based in Atlantic Beach.
Jax Pier Lodging Group plans a five-story, 138,564-square-foot hotel with up to 2,000 square feet of commercial space that was approved by the Jacksonville Beach City Council.
Desai also is the CEO of 3H Group Inc., which partners with hotel brands like Marriott, Hilton, IHG and Choice.
Key Jacksonville LLC of Miami issued a $6 million mortgage to Jax Pier Lodging Group.
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