Suntex Acquires Hurricane Marina
Suntex Marina Investors, LLC (Suntex) announced the acquisition of Hurricane Marina, located on Center Hill Lake in Silver Point, Tennessee. With the change in ownership, Hurricane Marina received a new 25-year lease with the United States Army Corps of Engineers and also extended the lease of the existing restaurant tenant, Blue Water Grille.
Hurricane Marina lies on a natural, protected harbor approximately 70 miles east of Nashville, and consists of 600 wet slips (48 of which were built in 2015), 40 personal watercraft slips and 25 enclosed boathouse slips. The slip composition can accommodate boats and houseboats ranging from 20 feet to over 100 feet.
The property’s amenities include a boat rental fleet of 11 boats (six newly purchased), security services, bathrooms, shower and laundry facilities, three fuel pumps and a pump-out station. The property boasts a 6,600 square-foot restaurant building a fully-stocked ship store and a patioed common area for parties and live entertainment. A courtesy golf cart shuttle service provides customers with easy access to the docks from the parking lot.
“We are very excited about this acquisition,” said Ron TenEyck, senior vice president of operations, Suntex Marinas. “Hurricane Marina is a beautiful location and has a great deal of potential for development. By investing in the facility, we are looking forward to enhancing the services and overall customer experience offered to visitors of Center Hill Lake.”
Center Hill lake consists of 19,000 surface acres of water and 415 miles of forested shoreline.The surrounding area is rural in nature, yet has been successful in attracting a more affluent community of boaters looking for a place to enjoy weekend getaways. Hurricane Marina’s location in the deeper waters of the southern end of the lake has made it an extremely popular location for the houseboat market.The entirety of the property lies on a 107-acre (69 acres submerged) lease with the United States Army Corps of Engineers.
The Suntex portfolio of 46 marinas are located in California, Florida, Georgia, Iowa, Kentucky, Maryland, Massachusetts, New Jersey, Oklahoma, Texas, Tennessee and Virginia.
