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Lauderdale boatyard and marina listed for sale

Lauderdale boatyard and marina listed for sale
Almost 30 potential buyers are exploring a bid for the 11.3-acre property
February 28, 2016 12:15PM

The Fort Lauderdale Boatyard and Marina

A 64-year-old Fort Lauderdale Boatyard and Marina has been listed for sale.
The  boatyard and marina, formerly known as Jackson Marine, is located in Fort Lauderdale along the South fork of the New River and is visible from an arched section of northbound Interstate 95.
Based on two appraisals in recent months, the 11.3-acre property has an estimated value of $18 million.
In the last 11 months, the boatyard and marina switched from one exclusive commercial tenant, National Liquidators, to a roster of 80 commercial tenants, boosting net operating income by almost 65 percent.
The property is “ideal for redevelopment,” Kelly Ruff, general manager of the Fort Lauderdale Boatyard and Marina, said in a press release. It has a ” long rectangular shape” that allows for “more than a few possible ideas for redevelopment strategy and planning.”
Ruff also said almost 30 potential buyers, including foreign entities, have registered and have begun a pre-bid due diligence process: “Surprisingly, the strongest interested buyers are not the domestic industry leaders. We’ve had a handful of qualified international purchase inquiries.”

Source: The Real Deal

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