Off The Hook YS has acquired a waterfront property on Chesapeake Bay, US to serve as its new Mid-Atlantic operational hub.
The facility will expand Off The Hook’s capabilities for inventory reconditioning, storage, financing and asset recovery. The company is a buyer and seller of used boats across North America.
“The Piney Narrows location in Kent Island, Maryland, gives us exactly what we need to scale our Mid-Atlantic operations,” said Jason Ruegg, founder of Off The Hook Yachts. “With direct water access, high visibility, and the ability to store and manage a significant amount of inventory on our own property, this facility dramatically improves efficiency while positioning us for long-term growth.”
A major component of the acquisition is the site’s storage capacity, with the property able to accommodate up to 150 boats, allowing Off the Hook to house a large portion of its regional inventory on site.
This facility dramatically improves efficiency while positioning us for long-term growth.
Jason Ruegg
Previously, the company relied on third-party storage at an average cost of approximately $500 per boat per month, a recurring expense that will now be largely eliminated through ownership of the property.
“Bringing inventory together in one place allows us to inspect, prepare, and position boats for resale more efficiently, giving customers access to ready-to-go pre-owned boats and yachts faster than through the traditional brokerage process,” Ruegg added.
“Importantly, our proprietary technology platform allows us to match real buyer demand with inventory across the country in real time.
“We’re not constrained by local supply. We can source inventory off-market, position it where demand is strongest and turn it faster-this facility is another key node in that network.”
Facilitating transactions
The site provides immediate water access and integrated infrastructure for vessel launch, retrieval and servicing, including proximity to a public boat ramp and haul-out facilities.
The property includes four office buildings that will support multiple divisions within the company, including brokerage, logistics and Azure Funding, the company’s in-house marine finance platform.
Off the Hook plans to staff the facility with between 15-20 yacht brokers who will source inventory, manage brokerage and consignment listings and facilitate transactions.
The site will also serve as a regional logistics centre, supporting efficient inventory movement and transaction execution.
Operating efficiencies
“This acquisition gives us control of critical infrastructure in a highly active boating market, which is difficult to replicate and increasingly valuable as we scale,” said Brian John, chief executive officer of Off The Hook Yachts.
“With this facility, we expect to drive a meaningful increase in annual transaction volume while realizing additional cost savings, driven by expanded strategic facility ownership and broader operating efficiencies.”
The Piney Narrows facility is expected to begin operating as Off the Hook’s primary Maryland hub in the coming months.
