The boating industry is seeing more growth nationally than at any time since 2007, causing the demand for marina real estate to take off. As a result, marina owners are finding they need to upgrade their properties to accommodate growing demand and larger boats, which in turn makes marinas more marketable.
Marker 1 Marina in Dunedin, for example, added 220 inside racks and a 44,000-pound forklift for boats up to 45 feet. The owner replaced a smaller 1960s-built barn and outdated outside racks.
This renovation trend shows no signs of letting up as boats keep getting bigger.
– Matt Putnam, Colliers International Leisure Property Advisors