A historic Florida boatyard and marina property, formerly known as Jackson Marine, has been listed for sale.
Located on the south fork of The New River in Fort Lauderdale, and according to the business, at the heart of the best Lauderdale boatyard activity, the 11.2-acre site is now know as Fort Lauderdale Boatyard and Marina (FLBAM).
Kelly Ruff, general manager of FLBAM described the site as being “ideal for redevelopment”. She said, “The shape of most boatyards and marinas can easily determine a fixed vision, but the wrong rectangular shape of FLBAM’s waterfront property offers more than a few possible ideas for redevelopment strategy and planning.
“Last April 2015, we changed the business model on the property and the immediate demand created an extraordinary response from the marina industry marketplace: Over the last 11-month, FLBAM switched from one exclusive commercial tenant (National Liquidators), to nearly 80 commercial tenants and marine contractor partnerships, increasing the monthly net operating income by nearly 65%.”
According to a recent press release, the estimated value of the marine property has been set at around $18 million after two valuations from Walter Duke and Partners.
Ruff continued, "During the past few weeks, since the property was publicly listed for sale, nearly 30 interested buyers have registered and started the arduous due diligence process for a possible boatyard and marina purchase. Surprisingly, the strongest interested buyers are not the domestic industry leaders; we've had a handful of qualified international purchase inquiries. This trend in the industry - dealing with international companies - legitimises the potential for long-term business development."
For more information on the property, contact Kelly Ruff.