Oilman Alex Cranberg, a prominent conservative voice and school choice philanthropist, has purchased the former site of Lulu’s Restaurant in Ponte Vedra Beach according to a report.
An LLC controlled by Cranberg, who owns a home on Ponte Vedra Blvd., spoke at a July symposium alongside Vice President-elect J.D. Vance and entrepreneur Vivek Ramaswamy, bought 301 N. Roscoe Blvd. for $4.1 million, according to the Jacksonville Daily Record.
The 1.34-acre parcel, which sits along the Intracoastal Waterway, was the former site of Lulu’s Restaurant, which shuttered in 2021. The site has been unoccupied since then.
Cranberg’s precise plans for the property are unclear, but the Nov. 22 purchase was made through Shark Tooth Dining LLC, suggesting a culinary future.
An aerial view of the former site of Lulu’s Restaurant. (St. Johns County Appraiser)
A native Texan with an MBA from Stanford, Cranberg leads Aspect Holdings, LLC, a petroleum company, and has served on the University of Texas System Board of Regents.
A vocal proponent of school choice, Cranberg founded the Alliance for Choice in Education, which has funded more than $100 million in scholarships for kids from low-income areas to enroll in private schools.
Cranberg was also part of a joint venture that purchased One Ocean Resort & Spa in Atlantic Beach in June for $48.62 million.
Cranberg serves as chairman at Aspect Holdings, and his wife, Cathy Cranberg holds the chief executive officer position.
