Suntex Assumes Control of Las Olas Marina
Marina properties owner and operator Suntex Marina Investors, LLC announced today that it has taken occupancy of the Las Olas Marina in Fort Lauderdale, Fla. Suntex will now commence its plans to develop the marina and transform it into a world-class marine facility.
Las Olas Marina is a centerpiece of the Fort Lauderdale International Boat Show, and Suntex said it looks forward to Las Olas Marina becoming a showcase element of the Boat Show once redeveloped. The transition of ownership and operation commenced on Friday, October 1, 2021. The redevelopment project will begin the first quarter of 2022.
“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,” said 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 May 3, 2018. The City Commission gave final site plan approval on July 9, 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 marina will include 68 boat slips capable of handling vessels up to 250-feet and two buildings – a 15,000-square-foot, two-story high-end restaurant with spacious outdoor seating and a 31,000-square-foot, three-story 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 substantial crew amenities.