Pinellas County Approves Yacht Manufacturing Facility at St. Pete - Clearwater Airport
MarineMax to develop a $38 million yacht manufacturing facility
A portion of the St. Pete-Clearwater International Airport will be leased to MarineMax for the construction of a $38 million yacht manufacturing facility. Marine Max has proposed a 132,000 SF yacht manufacturing, launch and dock facility and a 400-space parking garage. The development would be on 9.5 acres of waterside land located west of the airport just off Bayside Bridge. The land will be leased for 50 years at 60 cents per SF coming to a total of around $248,987 per year.
A request for negotiation for the property was announced last November (2021) and MarineMax was the only company to reply to the request. MarineMax expects to staff 300 employees, and along with clients and other potential uses the parking garage will be needed. The company estimates the facility will generate $75 million annually in boat sales.
The county request did not specify if the land had to be used for airport purposes only that it should advance one or more of Pinellas County’s development goals like creating jobs and increasing the tax base. The deal went before County Commission on Tuesday, December 13th. It was approved and now the Federal Aviation administration will have to approve the project as it is within close proximity to the airport.
Source information: Tampa Bay Times
For more information regarding the Clearwater area market, please contact:
Mike Cliggitt, MAI, MRICS, CCIM
813.405.1705 - Direct Line
SHARE CONTENT
Michael R. Cliggitt Individual Professional Memberships:
