Atlantic Marina Holdings purchases Fort Lauderdale Boatyard and Marina
Atlantic Marina Holdings, LLC, a Charleston, S.C. based marina owner, developer and operator, has purchased Fort Lauderdale Boatyard and Marina at 1915 SW 21st Avenue in Fort Lauderdale (formerly Jackson Marine) through an affiliate. Atlantic Marina Holdings, which most recently purchased PGA Marina in Palm Beach Gardens, Fla., intends to completely redevelop the site into a modern wet and dry slip marina village with dry slips up to 55 feet, wet slips up to 120’, and an onsite community of boating vendors and dealers. The site consists of 10 acres and is located on the New River where it crosses under I-95. When completed the project is expected to be one of Florida’s largest marinas and working waterfronts.
“We are focused on acquiring unique class A marina sites in affluent, dense markets along Florida’s east and west coasts. We have long been interested in the Fort Lauderdale market and this acquisition represents an opportunity to develop a state of the art project in a location, which is readily accessible to a trade area population [that] exceeds 3 million,” said Atlantic Marina Holdings Principal Joe Miller. “The New River provides an attractive boating venue, and the interstate location gives us exposure to 260,000 cars per day and will make it very easy for Broward County boaters to quickly get to our facility. We believe boaters would rather spend time traveling down the New River than stuck in traffic in their cars. We also want to provide a more affordable alternative to the existing marinas in the area. Fort Lauderdale has always been on our radar, and we are certainly pleased to be investing in an area which has often been referred to as the ‘boating capital of the world.’”
Atlantic Marina Holdings is committed to preserving marinas and working waterfront locations in Florida in a commercial sector, which continues to see similar facilities redeveloped into high density residential or hospitality uses. American Bank of Texas provided project financing. Dunston Powell of Carolina Commercial in Charleston, S.C, represented the buyer.
