Historic Lauderdale Boatyard and Marina selling out for redevelopment
FORT LAUDERDALE – The historic 64-year-old boatyard and marina property, formerly known as Jackson Marine, located on the South fork of the New River has been listed for sale. “The 11.3-acre footprint is ideal for redevelopment,” said Kelly Ruff, General Manager, Fort Lauderdale Boatyard and Marina (FLBAM).
FLBAM is located in the heart of the best Lauderdale boatyard activity and a half-mile from Lauderdale Marine Center. “Last April 2015, we changed the business model on the property and the immediate demand created an extraordinary response from the marina industry marketplace,” said Ruff. “Over the past 11 months, FLBAM switched from one exclusive commercial tenant to nearly 80 commercial tenants and marine contractor partnerships, increasing the monthly net operating income by nearly 65 percent.
Ruff explained: “During the past few weeks, since the property was publicly listed for sale, nearly 30 interested buyers have registered and started the arduous due diligence process for a possible boatyard and marina purchase. Surprisingly, the strongest interested buyers are not the domestic industry leaders. We’ve had a handful of qualified international purchase inquiries. This trend in the industry — dealing with international companies — legitimizes the potential for long-term business development.”
“It’s an exciting time for the Southeast Florida marina industry, because there is a lot of new business for everyone after a long reorganization for the industry,” said Ruff. “During the historic 64-year history of this 11.3-acre property there have been many reincarnations and business models that have both failed and succeeded on this waterfront footprint. The property is succeeding again – and so, it’s the right time to sell.”