New Haven Marinas has acquired Scipio Creek Marina in Apalachicola, Florida, in its first entry into the state. The latest acquisition marks the company’s ninth marina across six states, with the property offering boat storage, dockage, marine services and hospitality businesses.
New Haven Marinas specialises in acquiring and operating marina properties across the US, spanning Oklahoma, Illinois, Tennessee, Kentucky and Missouri. Its new Florida property sits on the state’s Forgotten Coast, along Scipio Creek, where it has deep-water access to the Gulf Intracoastal Waterway, Apalachicola Bay, the Apalachicola River System and the Gulf of Mexico.
The company said the marina’s location and growth potential were the reasons for the acquisition, as Florida is one of the country’s most important boating markets and Apalachicola has established boating, fishing and tourism activity.
Scipio Creek Marina has a diversified revenue base across 108 dry storage units, 30 outdoor boat racks and 20 wet slips, alongside fuel, marine supplies, repair and haul-out services and transient dockage. The property also has three short-term lodging rentals, Half Shell Dockside Restaurant & Bar, which New Haven Marinas said is a major contributor to the business, and Buoy Brewing Company, the first brewery in the company’s portfolio.
Marina Brokerage Advisors represented New Haven Marinas in the acquisition. Financial terms of the transaction were not disclosed. Kyle Peterson, vice president at Marina Brokerage Advisors, commented: “Scipio Creek is the kind of asset buyers are hunting for right now, a protected dry storage operation that is paired with an incredible restaurant.”
New Haven Marinas plans to improve the property and add wet slips, while continuing to develop its storage and dockage, marine services, restaurant, brewery and lodging operations. The existing teams at the marina and its businesses will remain unchanged following the acquisition.
In its announcement, New Haven Marinas described its approach to marina investments as combining “attractive real estate fundamentals, exceptional locations, durable demand and meaningful opportunities to create value.” The company added: “Scipio Creek Marina embodies that philosophy. As our first Florida property, it represents an exciting new chapter for New Haven Marinas while demonstrating the continued momentum and diversification of our growing national platform.”
