A Marinas For Sale Marketplace

Featured Articles

Marina Market Review 2011

MarinaSales – September 7th, 2011
2011 has been an interesting year to say the least for the marina business. We were optimistic at the beginning of the year that we'd see an uptick in transactions as the world regained some sense of normalcy. MarinaSales saw an increase in buyers and quality properties coming to market but buyers were cautious and not in a hurry to complete transactions. We continue to see a tale of two markets. The Northeast remains strong with few if any bank defaults and a shortage of quality properties for sale given the volume of buyers. The Southeastern U.S. is a completely different story with numerous assets available and a growing overhang of bank owned properties. Pricing in the Southeast remains challenging with too many sellers holding onto values based on Dockominium models or headier times. In the past few months we've noticed an increasing amount of bank owned/controlled properties and attribute it to the banks finally owning up to the fact that they have a problem. We don't see this trend abating anytime soon and in fact, we think more and more properties will be taken into receivership or foreclosed on as banks accept that they can only sweep problem loans under the carpet for so long.

Our newest member of the MarinaSales team, Peter Meyer, is heading up Texas and the Gulf Coast region. Peter resides in Houston, Texas where he has had an active career in commercial real estate. With a business background and degree, he understands the current market trends, investment strategies and what to look for in making a property work for buyers and sellers. In meeting with marina owners, Peter reports that Texas and neighboring States still hold great investment potential and many owners are actively expanding their operations.

Despite the challenging environment, we assisted in the sale of Edgartown Marine on Martha's Vineyard, managed to bring a few interesting properties to market and advised some of our banking contacts with their new properties.

New Listing
Salisbury, MA Marina
Prime Mamaroneck River located facility, directly facing Newburyport. 100 wet slips and 6 acres of upland area. Absentee owner for 35 years has invested heavily in capital improvements and maintenance but this sleepy facility is ready for active hands on management to take it to its full potential. Attractive owner financing available for qualified buyers.

New Listing
Gordonville, TX - Cedar Bayou Marina
Strong Financials. Cedar Bayou is located on Lake Texoma and includes 80 acres of land, 40 of which are waterfront. The marina consists of 215 wet slips, ranging from 18'- 60' in length. The marina has had a strong summer season and management projects record earnings for this year.

Advisory
MarinaSales assisted clients George and Sheryl Roth Rogers with their recent acquisition of Edgartown Marine on Martha's Vineyard. Edgartown Marine operates a full service year round boat yard, and is one of the largest indoor and outdoor boat storage facilities on Martha's Vineyard. The Rogers have some exciting plans to grow their new business. MarinaSales provided advisory services in conjunction with the transaction and potential future growth opportunities. You can follow their progress on their newly launched website http://www.edgartownmarine.com/

Advisory
MarinaSales was retained by a large regional bank that had recently foreclosed on a significant marina in the Southeast. Within 48 hours of initial contact MarinaSales arranged conference calls with several reputable managers and a new management company was on site within 2 weeks to stabilize and reposition the asset. We look forward to bringing this property to market in the Fall.

Advisory
MarinaSales and strategic partner Tranzon Auction Properties were engaged by a large regional bank to facilitate a foreclosure auction of a Marine Service/Storage Property located in Oquossoc, Maine. The successful auction was conducted on July 19.

_________
Jed Harris
Marc Anton