For Immediate Release
13 August 2018, Charleston, South Carolina: PORT 32 Marinas—formerly Atlantic Marina Holdings—a Charleston, South Carolina based marina owner, developer and operator, has purchased Tampa Harbour Yacht Club. The marina is located at 5200 West Tyson Ave in Tampa, Florida and consists of 720 dry slips, staging slips, 25 leasable wet slips, a fuel dock, transient dock, pool, Hula Bay (an on-site restaurant/bar), and commercial space, including a boat dealer/service center, known as Family Boating Center.
Tampa Harbour services greater Tampa and Hillsborough County. The property is in the heart of the newly designed Westshore Marina District. Upon completion, the Marina District and adjacent parcels are anticipated to include 1,500 luxury residential units. National builders have already committed to the development of over 30 acres within the District. The marina is strategically positioned as a gateway to Tampa Bay and the Gulf of Mexico.
Joe Miller, PORT 32’s managing principal, states, “PORT 32 considers Tampa Harbour to be among the top marina facilities in the Southeast, particularly on the West coast of Florida. We plan to enhance what is already an excellent facility. New management has been put in place. We expect to make a number of improvements to the project, with our primary goal being to maximize our customers’ experience.”
Tampa Harbour is the fourth marina property purchased by PORT 32 in Florida in the last three years. Previous acquisitions include PGA Marina in Palm Beach Gardens, Fort Lauderdale Boatyard and Marina in Fort Lauderdale, and nearby Tierra Verde Marina Resort in Tierra Verde, Florida. Both PGA Marina and Fort Lauderdale Boatyard and Marina are total redevelopments which are slated for completion in 2019. When completed, with the addition of Tierra Verde and Tampa Harbour, PORT 32 will operate approximately 2,600 slips in Florida and 3,600 slips in total.
Tampa Harbour is being renamed PORT 32 Tampa. The three other Florida marinas in PORT 32’s portfolio are also being renamed. These are PORT 32 Palm Beach Gardens, PORT 32 Fort Lauderdale, and PORT 32 Tierra Verde.
Miller further says, “Tampa Harbour, much like our other three recent Florida acquisitions, represents an outstanding opportunity for our company and investors. We take an exceptionally focused and disciplined approach when it comes to acquisitions and the growth of our portfolio. Tampa Harbour meets all our criteria. The marina is large, well built, and maximizes use of the site. All our recent acquisitions are modern facilities, being further enhanced with redevelopment, and are well positioned to accommodate today’s larger and more complex vessels. By comparison, much of the existing dry stack marina market is becoming functionally obsolete as boat designs change and grow longer, wider and taller. Tampa Harbour is also dominant in its trade area, being one of few drystacks on the east side of Tampa Bay. We believe this trade area to exceed a population of 1,000,000. Finally, Tampa is booming at present and the Westshore Marina District is a perfect location from which to capitalize on this dynamic market.” PORT 32 was represented by Dunston Powell of Carolina Commercial during the purchase of this property. Financing was provided by Chris Daniel and First United Bank. PORT 32 Tampa is managed by PORT 32 Management out of Charleston.
For more information on PORT 32 Tampa, please visit www.PORT32Tampa.com. For more information on the PORT 32 brand and its portfolio holdings, please visit www.PORT32Marinas.com.
About PORT 32
PORT 32, headquartered in Charleston, SC, is an industry leader in the acquisition, development, re-development, and operation of both dry and wet slip marinas. Since its inception, PORT 32 has acquired, re-developed and managed a portfolio of over $250 million in marina assets. PORT 32 has expertise in all areas of the marina industry and is dedicated to providing unparalleled value and customer service on all its projects. PORT 32 will continue to pursue strategic acquisitions, focusing on quality real estate, affluent trade areas, dense markets, and facilities positioned to serve the needs of today’s modern boat owner.