JACKSONVILLE BEACH, Fla. – A planned sale of Casa Marina Hotel & Restaurant in Jacksonville Beach to real estate development firm Corner Lot has fallen through, according to News4JAX partners at the Jacksonville Daily Record.
According to the JDR, Elias Hionides of the Petra real estate, which owns the popular hotel and the 0.9-acre property across the street, said on Monday that the hotel was no longer for sale. However, he gave no reason for the deal not closing.
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“The deal fell apart as sometimes deals do. It is disappointing because a lot of work went into it,” he said.
In June, Jacksonville-based firm Corner Lot announced its plans to redevelop the century-old Casa Marina Hotel, in addition to building either a retail and residential space or a hotel across the street.
“Our goal is to preserve its legacy while enhancing the surrounding area in a way that reflects the energy, character, and potential of Jacksonville Beach. I’d also like to thank the Hionides family for seeing eye to eye with us in making this vision one step closer to reality,” Corner Lot said in a news release when the plans were announced.
But on Monday, Corner Lot issued a news release announcing that the deal was off.
“While the team remains deeply committed to investing in vibrant, community-centered projects across Northeast Florida, the Casa Marina site will not move forward at this time,” Corner Lot said in the release.
Hionides said Petra now intends to refurbish the hotel starting in the first quarter of 2026. The interior design is being developed.
He also said renovation and rebranding details will come early next year.