At Graybill, Lansche & Vinzani, LLC, we are proud to be recognized as one of the leading law firms in marina related transactions. Our team represents developers, owners, and investors in the acquisition, development, financing, leasing, operation, and sale of a wide range of waterfront properties – including wet slip facilities, dry stack storage, resort condominiums, mixed-use marinas, and destination waterfront communities across the United States and the Caribbean.
A significant and growing part of our practice is dedicated to advising clients in the formation, governance, and operation of boat clubs within marina communities. These clubs have become increasingly popular as a flexible, modern alternative to individual boat ownership, and we assist clients with structuring these entities, drafting usage agreements, and compliance with maritime, tax, and real estate laws.
Marinas Are Evolving
The marina industry is undergoing significant transformations. Traditionally operated as small, family-owned businesses, marinas are increasingly becoming part of larger hospitality-oriented platforms often backed by private equity investors. This evolution is driven by several key factors:
Investment Interest
Marinas have emerged as a compelling asset class for institutional and private investors. In part, this is due to favorable IRS treatment of slip and storage income as real estate rent — qualifying such income for REIT structures – and the stable cash flows marinas can produce.
Succession Planning Challenges
Many marinas are owned by individuals or families nearing retirement age. Without clear succession plans, these properties are often sold or merged into larger marina networks, creating opportunities for strategic acquisitions and portfolio consolidation.
Diversification of Services
Modern marinas are evolving into full-service activity hubs. From dry stack storage and boat clubs to dining, entertainment, and lodging, marinas are increasingly designed as comprehensive waterfront destinations.
Limited Supply and High Barriers to Entry
Environmental regulations, zoning restrictions, and community opposition have made new marina construction increasingly difficult. As a result, existing marinas are becoming more valuable and competitive in the market.
Industry Resilience
Boating has proven durable through economic fluctuations, with strong demand from retiring baby boomers and a younger generation of consumers seeking experiential recreation.
Regulatory & Submerged Land Lease Expertise
We routinely assist marina owners and developers in navigating complex regulatory frameworks to secure submerged land leases and sovereign land rights essential to marina operations. These leases – often issued by state or local authorities — are critical for lawful use of underwater lands where docks, piers, and slips are constructed. Our team helps clients navigate this process in an industry where regulatory scrutiny is high and long-term submerged land rights are essential to both financing and marina operations.
Recent Projects
- Marina counsel in a $5.65 billion marina portfolio acquisition – one of the largest in U.S. history – involving 138 marina properties across the United States and Puerto Rico.
- Acquisition and redevelopment of a 450+ wet slip and dry stack marina.
- Modification of Yacht Club documents for the redevelopment of an internationally known resort property.
- Due diligence and transactional support for a Caribbean-based mixed-use resort.
- Acquisition, redevelopment, and condominium sale of a 225-slip marina on the South Carolina coast.
Project Examples
- Shem Creek Marina
- The Harborage
- Ashley Marina
- Skull Creek Marina
- Port 32 Palm Beach Gardens
- Lighthouse Point Marina