National Marina Group Awarded Exclusive Listing to Sell Westshore Yacht Club Marina
TAMPA, FL July 7th, 2011 – The National Marina Division of the Leisure Investment Properties 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, has been retained to exclusively market for sale the Westshore Yacht Club Marina, according to Steve Ekovich, Managing Partner.
The Westshore Yacht Club opportunity – located on eastern side of Tampa Bay in South Tampa, FL – includes 140 wet slips with both floating and stationary piers and offers a new investor the opportunity to add up to 97 more slips. Matthew Putnam, associate and lead agent on the deal, stated as the focal point of a gated community that has significant development yet to come, both single family and multi-family luxury dwellings, “the marina provides an investor significant upside through leasing up existing slips to provide significant cash-flow”.
According to Mr. Putnam, “Westshore Yacht Club is a fantastic community that, while not immune from the downturn in the housing market, is already on the road to recovery, with new construction already beginning again. With a nationally recognized, luxury homebuilder in WCI Communities actively marketing real estate for sale in the community, capitalizing on the activity in the community provides real upside for a marina operator to lease up the facility to a significant cash-flow position. Additionally, the 140 existing slips are set up to be sold as individual condo units, providing the ultimate exit strategy for an investor.”
Westshore Yacht Club is listed for $5,250,000. To obtain more information on this property or other properties, please contact Matthew Putnam, Leisure Investment Properties Group 813-387-4847, or visit www.leisurepropertiesgroup.com.
The National Golf & Resort Properties Group has sold 59 golf courses over the past 45 months; including well-known brands such as TPC and Ritz-Carlton, and properties recognized as “Best in State” and “America’s 100 Greatest Golf Courses”.
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Leisure Investment Properties Group: Founded in 2009, National Golf & Resort Properties Group has become the renowned industry leader in golf course sales nationwide. The group has sold 59 courses, within the last few years, as well as underwritten $1 billion in golf assets. The National Golf & Resort Properties Group successes are unprecedented in the golf course industry. Our management team has over 25 years’ experience in both golf and commercial real estate and 20 years PGA professional management experience. For more information please visit: www.lesiurepropertiesgroup.com.
About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com