Go Outdoors has expanded its marina portfolio through the acquisition of Constitution Marina in Charlestown, Massachusetts. Colliers brokered the sale for the marina’s longtime owner, Bosport Docking, at an undisclosed price.
Founded in the 1960s, Constitution Marina has remained under the same ownership for more than six decades. It has approximately 275 wet slips across 1,500ft (457 metres) of dock space, serving seasonal and transient boaters through overnight stays, yacht charters and dockside accommodation.
The marina sits on Boston Harbor next to the USS Constitution, close to the North End, TD Garden, North Station and downtown Boston. Its location also provides access to Logan Airport, Encore Boston Harbor, restaurants and other attractions across the city.
Shawn Macking, marinas division president at Go Outdoors, said: “Constitution Marina is an exceptional addition to our growing portfolio. It combines a great location, a strong operating history and a well-established customer base in one of the country’s most attractive boating markets. We’re excited about the opportunity to support the marina’s continued success and invest in its long-term future.”
Bosport Docking decided to sell the property as its owners prepared to retire and wanted a buyer that would maintain the marina’s established operations, according to Colliers. Andrew Cantor, Matt Putnam and Dan Grovatt represented the company in the sale, which attracted 10 bids through a call-for-offers process.
Colliers said the buyer needed sufficient marina experience and financial strength to secure approval for the lease assumption, and added that strong buyer interest reflected demand for well-located marinas near major population centres and destinations.
Ryan Campbell, vice president of acquisitions at Go Outdoors, commented: “Constitution Marina stood out as a rare opportunity to acquire a high-quality marina in an irreplaceable location. The strength of the Boston market, the marina’s established operating history and the long-term fundamentals of the property made it a compelling fit for our investment strategy.”
Go Outdoors now owns 16 marinas representing around 6,300 slips across the US, alongside four RV resort parks owned jointly with Monarch Alternative Capital. The company plans to maintain the marina’s focus on customer service, boating access and community, and explore opportunities to improve the property and overall customer experience.
