CBRE Arranges Two Marina Sales in the Florida Keys

22 Dec 2021

Faro Blanco Marina

CBRE has arranged the sale of two marina properties in the Florida Keys. Julie Berry and Sheila Roux with CBRE represented the sellers in the transactions.

“An upward trend in tourism and yachting in the Keys has attracted extraordinary investor interest in marinas, resulting in aggressive offers. As yachts spend more time in the Keys, demand is increasing for larger slip properties, which are in short supply,” said Ms. Berry, a Senior Vice President with CBRE.

She added, “Our competitive process helped achieve the best results and highest value for our clients, with short inspection periods and quick closings. For Faro Blanco, it was important to find a group who would enhance the marina and operate it commensurate to the owners of the contiguous hotel and resort. Caloosa Cove required a buyer who had the vision to enhance the multiple assets.”

Faro Blanco Marina is a 78-slip marina property located at 1996 Overseas Highway in Marathon, Fla. The newly updated marina is situated along Marathon’s bayside behind the Faro Blanco Resort. The marina features 10.45 acres of upland and submerged land. It accommodates vessels up to 140 feet with room for expansion. Additional amenities include a ship’s store, fuel dock and pump-out service. The marina was sold separately from the resort however patrons of the marina also have access to most Faro Blanco Resort amenities. The seller was EOS Investors, LLC.

Caloosa Cove Resort Marina is a 15-acre oceanfront marina resort property with multiple assets located at 73501 Overseas Highway in Islamorada, Fla. The property includes a 120-slip marina with lifts and a hurricane rated dry stack barn; Safari Oceanfront Bar & Grill; general store with roadside fuel pumps, apartments, a marine store; and a five-acre parcel. The recently constructed marina also offers diesel and non-ethanol gasoline fuel pumps. The seller was Cove Village Properties, LLC.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.