2 Of Largest Chesapeake Bay Marinas Up For Sale

ANNAPOLIS, MD - From Colliers International: Two of the largest resort-style marinas on the eastern shore of the Chesapeake Bay have been listed for sale – Mears Point Marina in Grasonville, Maryland and Mears Great Oak Landing Marina in Chestertown, Maryland. The marinas, which are both significant boating destinations in Maryland, are being sold by Meisel & Cohen Properties, Maryland-based family-owned real estate development and management firm.

The Mears Point Marina also includes a fully permitted, shovel-ready multifamily apartment development site for 211 units. The marinas are not priced and are accepting market bid offers on each property individually or as a package.

Both marinas are being listed by Andrew Cantor and Matt Putnam, Managing Directors; and Dan Grovatt, Director, with Colliers International’s Leisure Property Advisors team, as well as Will Mathews, Senior VP/Principal; and Clay Ellis, associate, with Colliers’ Multifamily Advisory Group. The Leisure Property Advisors team runs the national marina practice group for Colliers and focuses on the sale of marinas, resorts and leisure properties nationwide.

Mears Point Marina, one of Maryland’s largest facilities, is located on Kent Narrows near Kent Island, and has easy access to Chester River and Eastern Bay. The Marina sits on 41 acres and has 500 open, covered and lift slips. Awarded “Best of the Bay” honors by Chesapeake Bay Magazine for several years, Mears Point Marina has many on-site attractions and restaurant tenants such as Red Eye’s Dock Bar, The View Restaurant, Annie’s Paramount Steak and Seafood House, and Captain’s Cabana pool bar. Also included in the sale is a shovel-ready opportunity to develop 211 waterfront multifamily apartment units.

“Mears Point is one of the nation’s most desirable multifamily development opportunities boasting waterfront views, marina access, and popular restaurants. This is truly an eat, boat, live atmosphere,” said Colliers’ Mathews.

Mears Great Oak Landing Marina is a weekend destination spot with 350 boat slips. The marina sits on 74 acres, a portion of which spans Fairlee Creek, and has an attached hotel lodge with 28 rooms. It includes a range of resort-style amenities such as a private beach, pool, six-hole executive golf course and the popular JellyFish Joel’s Beach Bar, which is a perennial “Best of the Bay” winner for best Dockside Bar on the Chesapeake Bay.

“This is a rare investment opportunity because marina assets of this size and quality are rarely available for sale,” said Colliers’ Grovatt. “The timing of the sale shows that the Maryland boating and marina market is strong and has rebounded strongly from the great recession.”

Mears Great Oak Landing Marina is located at 22170 Great Oak Landing Rd. in Chestertown, Maryland, and Mears Point Marina is located at 428 Kent Narrows Way N. in Grasonville, Maryland.

For more information on Mears Point, visit http://florida.colliers.com/mears-point and for more information on Mears Great Oak Landing, visithttp://florida.colliers.com/great-oak-landing.

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