Suntex takes over Ft Lauderdale’s Las Olas Marina
Suntex Marina Investors, owner and operator of marina properties, has officially taken occupancy of the Las Olas Marina in Fort Lauderdale, Florida. The site is going to be redeveloped “into a world-class marine facility” with work commencing in 2022.
According to Suntex, Las Olas Marina is a centerpiece of the Fort Lauderdale International Boat Show, and the redeveloped marina will become a showcase element of the Boat Show once redeveloped. The transition of ownership and operation commenced on 1st October 2021, and the redevelopment project will begin in the first quarter of 2022.
The marina will include 68 boat slips capable of handling vessels up to 250ft and two buildings – a 15,000-square-foot, two-storey high-end restaurant with outdoor seating and a 31,000-square-foot, three-storey marine services building containing a casual restaurant, dockmaster’s office, ship store, offices, and a captains and crew Lounge with a rooftop gym, swimming pool, a chef’s kitchen, recreational spaces, and crew amenities.
“Everyone at Suntex is extremely excited to have achieved all the pre-requisite milestones and we look forward to working with the City of Fort Lauderdale to deliver an iconic and world-class facility,” says David Filler, Investments Partner – Florida & Southeast Regions. “We are thankful for all the support we received from constituents, the City of Fort Lauderdale and city commissioners in completing this process and embracing the vision of what this facility will provide to the city, county and marine industry.”
Suntex’s initial bid was selected by the city in 2016 and the lease was signed on 3 May 2018. The city commission gave final site plan approval on 9 July 2019. Suntex will own and operate the Las Olas Marina for 50 years in partnership with the City of Fort Lauderdale. This multi-million-dollar project is in addition to the $70 million redevelopment the City of Fort Lauderdale has already invested to create waterfront and beach access, public parks, and new parking facilities.
The Suntex portfolio includes marinas located in California, Florida, Georgia, Iowa, Kentucky, Maryland, New Jersey, Oklahoma, Texas, Tennessee and Virginia.
