Nautical Ventures Group has taken over operations of Anglers Marina in Dania Beach via a lease with the option to buy, and will rebrand the entity as Nautical Ventures Marine Center.
The dealership is planning construction at the 10-acre site, including a new 200-unit dry stack, a 15,000-square-foot showroom, a ship’s store, and a waterfront restaurant with tiki bar, marketing director Frank Ferraro told Trade Only Today.
There are two Anglers marinas in Dania Beach; this one is located at 4470 Anglers Ave.
Construction of a new 5,000-square-foot boat sales and watersports showroom, which will include a second level for corporate offices, marina restaurants and ships store, is targeted for completion in 18 months, Ferraro said.
“The first phase is cleanup and removal of debris, derelict boats and accounts,” Ferraro told Trade Only Today. “We have a waiting list of customers from other marinas in the area that are closing due to airport development, and we expect all wet docks and dry slots will be filled by Nov. 1.”
There are also plans to update a six-bay, solar-powered service building over the next two months, and improve infrastructure for 120 wet slips that will also serve as the future home of Nautical Ventures Boat Club. A newly-constructed custom houseboat is docked onsite to serve as an interim sales, brokerage and boat club office.
Phase two will be to relocate service operations from the current location at 50 S. Bryan Rd. to the new site within 60 days. Resurfacing and landscaping at the new location will also occur during that timeframe.
Nautical Ventures plans to buy the operation in five years, Ferraro said, and will take over revenue in September.
“It was originally for sale, but then it turned into lease option, and an option to buy for an undisclosed price in five years,” said Ferraro. “The current owner does not want to own this marina, and it needs a lot of repair. It needs a full facelift over the next five years, and then we’ll buy it at a prearranged price negotiated now. Anything spent annually in rent goes to purchase price.”
The company is looking at the possibility of acquiring additional marinas and dealership locations in a few key areas if the opportunities arise, Ferraro said.