Simply Marinas Brokers Sale of Key Colony Beach Marina

Simply Marinas represented the buyer for the sale of Key Colony Beach Marina in the Florida Keys. The buyer was the former owner of Garrison Bight Marina, which was sold to Suntex in February. Simply Marina reports that the buyer purchased the marina as a 1031 Exchange where one investment is swapped for another.

The marina has 17 slips that can accommodate boats up to 80-feet and a 265-foot concrete seawall that offers additional covered dockage for charter boats and the marina’s fuel dock. The north end of the marina includes 225-feet of dockage, a boat ramp, and 225 feet of undeveloped property that has been used for parking. An upland building houses a ship’s store and offices. The docks in this area were previously used for a boat rental business.

The property is grandfathered to build a 3,000 square foot restaurant building with two apartments.