Tobin Real Estate Closes on 5.08-Acre Grassy Key Site in Marathon

June 14, 2022

Hollywood, FL – June 14, 2022 – Tobin Real Estate announced that their listing, formerly the Florida Keys historic JoJo’s Restaurant located at mile marker 59 on Grassy Key in the City of Marathon, has closed.  The seller was represented by Louie Granteed, Senior Vice President of Real Estate with Tobin Real Estate, and was acquired by SeaGlass Cove, a joint venture between Ironwood Venture Group & Constellation Group. The development is expected to break ground in October of 2022.  

The seller, led by Tobin’s President & COO Jason L. Tobin, was JoJo’s of the Florida Keys, a subsidiary of Tobin, Inc. who acquired the 5.08-acre site located at 59720 Overseas Highway in Marathon, FL.  Tobin secured all the 14 Market Rate Home entitlements on the property based on an in-depth analysis of the historical uses and buildings on the property.  Many were destroyed at various points in its history due to hurricanes.  The net result was the ability to develop a 14-unit community of single-family homes on the Atlantic Oceanfront, that were permit-ready and all of which were additionally approved to serve as vacation rentals and overnight stays. 

According to Tobin, “We acquired JoJo’s because it had incredible bones.  The 5-acre site overlooked the Atlantic Ocean and Duck Key which is a very desirable view for any future homeowner.  Securing all of our approvals was an arduous task, but always achievable thanks to a steadfast partnership with the City of Marathon.  We were delighted to be a part of visualizing the potential for this prime Florida Keys real estate.”