Colliers has announced the recent sales of Glen Cove Marina in Vallejo, California, and Skinner’s Marina in Tuckerton, New Jersey. Completed in separate transactions, the properties were acquired by two different buyers as personal investments. Purchase prices were not disclosed, with the Leisure Property Advisors team representing the sellers in both deals.
Glen Cove Marina is located along the Carquinez Strait, with access to the San Francisco Bay and the Sacramento Delta. Purchased as part of a 1031 exchange, the property spans 17 acres and provides 222 wet slips as well as an events facility.
Skinner’s Marina offers direct access to the Jersey Shore waterways and covers approximately 7.15 acres. The marina includes more than 80 wet slips, storage capacity for around 150 vessels on land and 16 RV spaces.
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Colliers is a global diversified professional services and investment management company operating across commercial real estate, engineering and investment management. Leisure Property Advisors, a specialised team within Colliers, advised on both transactions, with Matt Putnam, Andrew Cantor and Dan Grovatt representing the sellers.
Cantor, senior vice president of Colliers, stated: “These transactions reflect the continued demand for well-located marina assets across the country. Buyers are attracted to the stable income potential and unique waterfront locations that marinas provide.”
Grovatt, senior vice president of Colliers, commented: “Marinas continue to demonstrate their investment strength due to limited supply, combined with a reliable recurring revenue profile. These assets are both well positioned to deliver long-term value and stable growth for years to come.”
Images from Colliers.
