A buyer with ties to cannabis company Verano Holdings has purchased the former Burger King building in Fernandina Beach.
1940 Fernandina Beach LLC of Miami Beach bought the property at 1940 S. Eighth St. on Feb. 26 for $2.05 million.
Miami-based Power House Marina Inc. sold the property. It was represented by Austin Kay, vice president at NAI Hallmark.
1940 Fernandina Beach LLC is managed by George P. Archos, the founder, chairman and chief executive officer of Verano. Archos also is involved in other businesses.
Verano Holdings is a publicly traded, multistate cannabis company that operates the MUV and Zen Leaf marijuana dispensary brands.
The building is 3,629 square feet on 0.94 acre, according to Nassau County property appraiser records. It was constructed in 2020.
The Burger King closed in early 2024.
“We continue to see larger, older quick service restaurant prototypes transition to alternative uses, including medical and professional services,” Kay said in a news release.
“This property offered strong visibility, established parking, and a functional interior layout that can be efficiently adapted for consultation rooms, treatment areas, and reception space. As newer QSR prototypes prioritize drive-thru capacity with limited indoor seating, we were able to identify a buyer who recognized the value and flexibility of this well-located asset.”
The property last sold in December 2022 for $2.48 million.