Suntex Marina Investors, LLC (Suntex), the premier owner and operator of best in-class marina properties, announced it has acquired Prime Marina Miami. Located in the heart of Coconut Grove, adjacent to city hall and local businesses, the property serves a strong and affluent boating market south of downtown Miami. Effective immediately, Suntex will return the site to its previous name, Bayshore Landing.
The purchase of the property’s recently renewed 70-year lease from Prime Marina Group includes 111 slips able to accommodate vessels up to 130-feet. In addition to the full-service marina, the purchase includes 30,000 square feet of retail space and 15,000 square feet of restaurant space that is 100% occupied. Tenants include famous Monty’s Raw Bar and Restaurant, Sushi Maki and Starbucks as well as a number of marine-related business including yachts, brokerage firms and charter companies. The fully secured and patrolled property offers pump out and fuel services, 24/7 access, lighted parking and a valet service.
“Suntex is actively growing and seeking acquisitions that align with our core objectives to be the premier marina operator in the US,” said David Filler, Head of Suntex Investments, Florida. “Biscayne Bay and the surrounding neighborhoods like Coconut Grove represent one of the greatest boating communities in the world; we are pleased to add this property to our portfolio. We look forward to greatly enhancing the boating experience for everyone to enjoy.”
As part of Suntex’s continuing commitment to making significant operational and financial investments in properties throughout South Florida, initial plans for the site include conversion to year-round fuel operations, an enhanced waterfront experience, expanded menu options and greatly improved customer service.
The Suntex portfolio of marinas is located in California, Florida, Georgia, Iowa, Kentucky, Maryland, New Jersey, Oklahoma, Texas, Tennessee and Virginia.