Marina Sold: Kinship Marina – Ventura, California

Overview

The Simply Marinas team managed the transaction as a confidential offering and identified multiple competitive buyers for Kinship Marina Ventura, CA, a full service marina with commercial upland tenants.

The Sellers set the stage for a profitable, world-class marina expansion project, securing entitled marina and upland redevelopment and expansion plans.

Listed in partnership with Eric Leon, Broker of Record - Virtual Realty Group Inc., CA Licence#: 01412095

Highlights

EXISTING MARINA HIGHLIGHTS
- Experienced operating partner
- Situated at the mouth of the harbor, the redevelopment project is in a commercially vibrant, highly desirable location for tenants and transients
- Multiple 3rd-party commercial sub-tenants providing reliable rental income

The Opportunity

PROPOSED MARINA REDEVELOPMENT/EXPANSION - HIGHLIGHTS
- Orientation change of marina slips
- Expansion from 30 slips to over 100 slips
- Slip design to accommodate large vessels and catamarans
- Upgrade to state-of-the-art slip features, i.e. pump-out, 50-amp shore power, eMarine fast chargers, metered water and electricity
- Addition of water taxi landing and personal watercraft access
- Feasibility of adding mixed use development for additional retail and office space on the large upland parcel

Location

Right of Ownership: Ventura Port District Leasehold

The marina is located on the northeast shoreline of Ventura Harbor, a protected harbor, directly across the harbor inlet. Ventura harbor, adjacent to the mouth of the Santa Clara River, is owned and managed by the Ventura Port District, an Independent Special District within the City of Ventura. The marina’s Master Lease boundaries encompass an approximately 7-acre real estate parcel owned by the Ventura Port District.

Ventura Harbor has been developed into a vibrant commercial area that is easily accessible from highway 101. Restaurants, groceries, a 4-star hotel, an 18-hole golf course, retail boutiques, and art galleries are all within walking and short driving distance of Kinship Marina. Sections of the harbor incorporate a beautiful waterfront walking promenade. The Harbor is considered the gateway to Channel Islands National Park, referred to as “The American Galapagos”, which can be seen in the distance from the marina property. Incredible inland views of the Transverse mountain range can also be seen from the marina.

The city of Ventura, a beautiful California coastal community located between Los Angeles and Santa Barbara, is considered one of America's most desirable places to live. The area offers ideal year-round climate, access to world class housing, amenities, shopping, and most importantly unimpeded access to the Pacific Ocean and renowned, protected outdoor recreational areas.