The Sails Marina Now Under Same Ownership As Hyatt Regency Pier Sixty-Six
JULY 13, 2017 - SUN SENTINEL An entity tied to Orlando-based Tavistock Development Co. has acquired the 8.48-acre property known as The Sails Hotel Marina & Shops in Fort Lauderdale, a company spokeswoman confirmed Thursday.
The property at 2040 SE 17th St. and adjacent parcels, including The Sails Marina at 2150 SE 17 St. were purchased in a $24 million deal recorded Wednesday in Broward County.
Property deeds show the buyer as Sails Ventures LLC, and the sellers of the land and building as JDM Harbor Heights LLC and ONAP 17th St. Marina LLC, respectively.
The Sails parcels last sold for $12 million in May 2013, according to county property records.
Tavistock’s acquisition of The Sails comes seven months after it bought the neighboring Hyatt Regency Pier 66 hotel, marina and parking lot in a $165 million transaction in December.
“This was yet another one-of-a-kind moment to acquire a unique property in Fort Lauderdale along Southeast 17th Street and the Intracoastal waterway – a rare opportunity we didn’t want to pass up,” said Jim Zboril, Tavistock’s president, in a statement. “While we 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 and 127-slip marina property at 2301 SE 17th St. marked Tavistock’s foray into South Florida’s hospitality and marine sectors.
With the addition of The Sails, Tavistock now owns 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 run Nov. 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 JDM Harbor Heights.
The Fort Lauderdale marina’s concrete docks can house boats from 30 feet to 500 feet in length, according to its website. The site also offers about 3 acres of open space to host events such as 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.