Off The Hook Yachts Acquires Waterfront Hub in Maryland
AI-powered marine marketplace Off The Hook YS Inc. recently acquired a waterfront property on the Chesapeake Bay, one of the most active boating corridors in the United States. The acquisition will serve as the company’s new Mid-Atlantic operational hub in a high-density marine market while expanding capabilities for inventory reconditioning, storage, financing and asset recovery.
“The Piney Narrows location in Kent Island, Maryland, gives us exactly what we need to scale our Mid-Atlantic operations,” said Jason Ruegg, Founder of Off The Hook Yachts, in a news release. “With direct water access, high visibility and the ability to store and manage a significant amount of inventory on our own property, this facility dramatically improves efficiency while positioning us for long-term growth.”
Increased Storage for Off The Hook Yachts
A major component of the acquisition is the site’s extensive storage capacity, according to the company. The property can accommodate up to 150 boats, allowing Off the Hook to house a large portion of its regional inventory on site. Previously, the company relied on third-party storage at an average cost of approximately $500 per boat per month, a recurring expense that will now be largely eliminated through ownership of the property.
“Bringing inventory together in one place allows us to inspect, prepare and position boats for resale more efficiently, giving customers access to ready-to-go pre-owned boats and yachts faster than through the traditional brokerage process,” Ruegg added in the release. “Importantly, our proprietary technology platform allows us to match real buyer demand with inventory across the country in real time. We’re not constrained by local supply. We can source inventory off-market, position it where demand is strongest, and turn it faster—this facility is another key node in that network.”
Additional Growth Opportunities
The property offers significant strategic advantages for Off the Hook’s growing operations, according to the company. Located along a high-traffic waterfront corridor on the Chesapeake Bay, the site provides immediate water access and integrated infrastructure for vessel launch, retrieval and servicing, including proximity to a public boat ramp and haul-out facilities.
The property also includes four office buildings that will support multiple divisions within the Off the Hook ecosystem, including brokerage, logistics and Azure Funding, the company’s in-house marine finance platform, enabling customers to access financing and related services directly on site.
Off the Hook plans to staff the facility with 15–20 yacht brokers focused on sourcing inventory, managing brokerage and consignment listings, and facilitating transactions, according to the company. The site will also serve as a regional logistics center, supporting efficient inventory movement and transaction execution.
“This acquisition gives us control of critical infrastructure in a highly active boating market, which is difficult to replicate and increasingly valuable as we scale,” said Brian John, CEO of Off The Hook Yachts, in the release. “With this facility, we expect to drive a meaningful increase in annual transaction volume while realizing additional cost savings, driven by expanded strategic facility ownership and broader operating efficiencies.”
The Piney Narrows facility is expected to begin operating as Off the Hook’s primary Maryland hub in the coming months.
