The Sails is sold
Marinas are key sites for Fort Lauderdale International Boat Show
Buyer of empty lot is close: Owners also have Pier 66 across the street.
An entity tied to Orlando-based Tavistock Development Co. has acquired the 8.48-acre property known as The SailsHotelMarina& Shops in Fort Lauderdale, a company spokeswoman confirmed Thursday.
The property at 2040 SE17th St. and adjacent parcels, including The SailsMarina at 2150 SE17th St ., were purchased in a $24 million deal recorded Wednesday in Broward County.
Property deeds showthe buyer as Sails Ventures LLC, and the sellers of the land and building as JDMHarborHeights LLC and ONAP17th St. Marina LLC, respectively.
The Sails parcels last sold for $12 million inMay 2013, according to county property records.
Tavistock’s acquisition of The Sails comes sevenmonths after it bought the neighboringHyatt Regency Pier 66 hotel, marina and parking lot in a $165 million transaction in December.
“Thiswas yet another one-of-akind moment to acquire a unique property in Fort Lauderdale along Southeast 17 th Street and the Intra coastal Water way—a rare opportunitywe didn’twant top ass up ,” said Jim Zboril, Tavistock’s president, in a statement. “Whilewe do not have any immediate plans for the Sails property, we knew it presented interesting opportunities to potentially align with our development at Pier 66.”
The purchase of the 384-room Hyatt Regency hotel and127-slip marina property at 2301SE17th St. marked Tavistock’s foray into South Florida’s hospitality and marine sectors.
With the addition of The Sails, Tavistock nowowns two marina sites that are among the seven city locations that host the annual Fort Lauderdale International Boat Show. This year’s 58th edition will runNov. 1-5.
The Sails offers 2,500 linear feet of dockage and can accommodate a range of boat sizes, said Derek Dettman of Dettman Properties in Fort Lauderdale, who co-brokered the transaction on behalf of the land owner, JDMHarborHeights.
The Fort Lauderdale marina’s concrete docks can house boats from 30 feet to 500 feet in length, according to itswebsite. The site also offers about 3 acres of open space to host events and parking for the Fort Lauderdale boat show.
Tavistock sees more room for growth in South Florida and looks forward to its continued investment in the market, Zboril said.
Staff researcher Barbara Hijek contributed to this report. asatchell@sunsentinel.com, 954-356-4209 or Twitter@TheSatchreport