Area marina sold to North Palm Beach-based group

BRADENTON — Bradenton Boat Club, a marina and boat storage facility with storage for over 350 boats, has sold to North Palm Beach-based marina owner and operator Southern Marinas.

Terms of the deal were not disclosed. The seller was Cortez BBC LLC and Classic Boats LLC, according to a press release.

The seller chose Southern Marinas because of the company’s vision for the property and their long-term view of the marina industry, the statement adds.

Colliers International’s Leisure Property Advisors team of Director Dan Grovatt and Managing Directors Matthew Putnam and Andrew Cantor acted as transaction brokers and represented both the buyer and seller in the sale.

“Marinas continue to be highly sought-after investments because of the high yields they produce,” says Grovatt in the statement. “Bradenton Boat Club produces significant storage revenues due to its size and location. The Sarasota-Bradenton area has shown significant growth in the past few years, helping it become one of the Gulf Coast’s most popular boating locations.”