Leisure Investment Properties Brokers Sale of Black Oak Marina

Steven Ekovich, executive managing director of the Leisure Investment Properties Group, in association with New England Commercial Brokerage Inc., announced the sale of Black Oak Marina located on Cherokee Lake in Tennessee. Brett Murphy and Jeff Spilman, both vice presidents of investments, were the marina advisors for the transaction.

Black Oak Marina, just outside of Knoxville, features 236 wet slips, a fuel dock, ship’s store, rental boats, and on-site restaurant, Off the Hook Bar & Grille.

The sellers consistently invested back into the marina through expansion and various upgrades and the buyer plans to continue to enhance the property to provide exceptional boating experiences.

“Black Oak is an excellent marina and offered several advantages for investors, including 100% occupancy, strong cash flows, and a desirable location on the lake. These were a few of the characterisits the investment community recognized, and we are pleased with the results of the process,” Murphy said. Black Oak was only on the market for 35 days before it generated nine competitive offers from qualified buyers. Murphy credits Leisure Investment Properties Group’s process and broad network for the quick sale.