Trade Only Today brings word that Westrec Marinas, one of the largest owner operators of marinas and marine-related businesses, nailed a deal to manage two marinas on the west coast of Florida.
Interestingly enough, Westrec’s vice president for development Jim Frye stated these contracts show a new industry trend.
“We’re seeing more investor interest in marinas,” Frye reported. “There’s a ton of equity in the market, and some of it is getting placed in marina properties.” He explained that investors are beginning to regard marinas as long-term investments these days, with the land holding the value but the marina giving the land the attraction in the first place.
“There’s a trend toward this boutique investment in marina space that is good for the overall health of the marinas,” Frye says.
Interesting, no? Interesting yes! Read more by visiting Trade Only Today’s full article here.
Photo credited to Trade Only Today