Colliers property advisors has announced the sale of two marina properties – Glen Cove Marina in Vallejo, California and Skinner’s Marina in Tuckerton, New Jersey.
The assets were purchased in two unrelated and separate transactions as personal investments for two buyers. The purchase prices are undisclosed.
“These transactions reflect the continued demand for well-located marina assets across the country,” said Andrew Cantor, senior vice president of Colliers.
“Buyers are attracted to the stable income potential and unique waterfront locations that marinas provide.”
Glen Cove Marina, located in Vallejo, encompasses 17 acres and includes 222 wet slips, along with an events facility.
Reliable recurring revenue
Positioned along the Carquinez Strait, the marina benefits from a location that easily accesses the San Francisco Bay, as well as the Sacramento Delta.
The property was purchased as part of a 1031 exchange which lets investors defer capital gains tax on the sale of one investment property by reinvesting the proceeds into a like-kind of property.
Skinner’s Marina, located in Tuckerton, spans approximately 7.15 acres and features more than 80 wet slips, approximately 150 boats on land storage and 16 RV spaces.
The marina offers direct access to the Jersey Shore waterways, supporting both recreational boaters and seasonal visitors.
“Marinas continue to demonstrate their investment strength due to limited supply, combined with a reliable recurring revenue profile,” said Dan Grovatt, senior vice president of Colliers.
“These assets are both well positioned to deliver long-term value and stable growth for years to come.”
