News & Press|Press Release
PORT 32 Purchases Tampa Harbour Yacht Club
Press Release | August 6, 2018
PORT 32, (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, FL and consists of approximately 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 located 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 and national builders have already committed to the development of over 30 acres within the district. The marina is strategically positioned to serve as a gateway to Tampa Bay and the Gulf.
Joe Miller, PORT 32’s managing principal, stated “PORT 32 considers Tampa Harbour to be among the top marina facilities in the Southeast and, in particular, on the West coast of Florida. We plan to enhance what is already an excellent facility. New management has been put in place, and 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 Ft. 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 will be renamed PORT 32 Tampa. The three other Florida marinas in PORT 32’s portfolio are also being renamed. These will be PORT 32 Palm Beach Gardens, PORT 32 Fort Lauderdale, and PORT 32 Tierra Verde.
Miller further stated “Tampa Harbour, much like our other three recent Florida acquisitions, represented an outstanding opportunity for our company and investors. We take a very focused and disciplined approach when it comes to acquisitions and growth of our portfolio, and Tampa Harbour met all our criteria. The marina is large, well built, and maximizes use of the site. All of our recent acquisitions are modern facilities, or will be after redevelopment, which 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. And 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 will be managed by PORT 32 Management out of Charleston.