Leisure Investment Properties Group Brokers the Sale of Skeleton Key Marina Located in Hudson, Florida

by / Tuesday, 07 July 2015 / Published in Marina Blog

Aerial 1 site press releaseThe Marina Division of the Leisure Investment Properties Group of Group of Marcus & Millichap Real Estate Investment Services (NYSE: MMI), the nation’s largest real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Skeleton Key Marina, an 110-slip marina located in Hudson, Florida. The asset sold for $1,350,000.

Dan Grovatt, a marina specialist of the Leisure Investment Properties Group, had the exclusive listing to market the property on behalf of the seller. The buyer, a private investor, was secured and represented by Dan Grovatt and National Marina Director Matt Putnam. Steven Ekovich, First Vice President and National Managing Director of the firm’s Leisure Investment Properties Group stated, “Dan Grovatt, lead listing agent, launched a direct marketing campaign resulting in an executed contract and five offers within 30 days. As Skeleton Key was previously listed by another brokerage, Grovatt’s main focus was to utilize the Leisure Investment Properties Group’s extensive database of qualified investors both local and out of area. Through target marketing to the Leisure Investment Properties Group database, Grovatt located a Maryland business owner looking to build his investment portfolio. Grovatt was instrumental in educating and consulting the buyer about the marina industry, as the buyer had no previous marina experience.”

Grovatt stated, Skeleton Key is a classic example that marinas make a lot of sense to today’s real estate investors if the value can be articulated effectively. Ultimately, it was our access to qualified capital and unique ability to articulate the real value of the property that got the deal done. The competitive environment we created combined with our packaging and industry expertise, allowed us to net our client 50% more than what he had previously thought possible.

Skeleton Key is a full service marina located in Hudson, Florida offering wet & day rack storage options, fuel dock, boat rentals, boat report and a ship’s store. The marina offers direct Gulf of Mexico access and has been a fixture of the local community for decades after becoming Pasco County’s first full service marina over 30 years ago. The buyer plans to continue operating the facility as a full service marina.

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