Naples broker, investors buy Royal Yacht Services land

BUYER: Naples Boat Yard LLC (principal: George Atkinson), Naples
SELLER: Walnut & Vine Properties II LLC
PROPERTY: 2775, 2815 and 2781 Bayview Drive, Naples
PRICE: $1 million
PREVIOUS PRICE: $2 million, April 2005 and $1.08 million, June 2005
LAW FIRM ON DEED: Zimmerman Kiser & Sutcliffe PA, Orlando

PLANS, DESCRIPTION: An investor group led by George Atkinson, a real estate broker with CRE Consultants, purchased the former Royal Yacht Services property for $1 million.

The 1.2-acre property features a marina docking facility with a travel lift, an office building and a service barn. The new owners plan to demolish the barn and redevelop a replacement building, according to Atkinson.

The property is one of only three deep-water service marinas in the Naples area capable of servicing yachts up to 60 feet long.

“We felt it was a very well-priced deal,” Atkinson says. “It is very well situated and there aren't too many [marinas] out there. A lot of them have been sold and converted into mixed use or residential. There will be 18 wet slips here when we're done.”

The facility was renamed the Naples Boat Yard.

Dave Wallace of CRE Consultants and Atkinson brokered the transaction.