Colliers arranges sale of marina in Grand Prairie, Texas, to Suntex Marinas

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Suntex Marina Investors, LLC, based in Dallas, Texas, has purchased Lynn Creek Marina in Grand Prairie, Texas, for an undisclosed price.

The marina is located on 60 acres of waterfront property along Joe Pool Lake, at 5700 Lake Ridge Parkway. Joe Pool Lake is a 7,500-acre flood control lake built and operated by the Army Corp of Engineers and a popular destination for boating, camping, picnicking and fishing.

Lynn Creek Marina features 528 wet slips, 116 dry stalls, a 14-acre driving range and a full-service restaurant, which had been managed by the marina’s ownership.

Matt Putnam, Andrew Cantor and Dan Grovatt of Colliers’ Leisure Property Advisors team represented the seller, Lynn Creek Marina, LTD, in the transaction.

“Suntex, which is headquartered only 40 miles from this property, saw the opportunity to build on the long-term success Lynn Creek Marina has had in this fast-growing submarket of the Dallas-Fort Worth metroplex,” said Matt Putnam, Managing Director, Leisure Property Advisors, Colliers. “The buyer also recognized the value of the existing profit centers, like the in-house boat club and restaurant, which fit well with Suntex’s business model.”

Joe Pool Lake is located between Dallas and Fort Worth, just south of Interstate 20. The area is experiencing significant growth, including in the cities of Grand Prairie and Arlington.

“The size of the property, scale of the operation and a location surrounded by an excellent, growing demographic speaks to current trends in the marina space almost to the letter,” Putnam said. “This is exactly the type of property smart marina operators and investors are looking for right now.”

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.