- Nov. 4, 2019
-- Colliers International's Leisure Property Advisors team has brokered the sale of Dozier's Regatta Point Marina, located at the mouth of Broad Creek near the intersection of the Rappahannock River and Chesapeake Bay in Deltaville, Virginia, 70 miles east of Richmond.
The property was purchased by first-time marina owners Don Pringle and Sandy Bouvier, a husband-and-
wife duo from Connecticut. The purchase price was not disclosed.
Andrew Cantor, Dan Grovatt and Matt Putnam of Colliers International's Leisure Property Advisors team represented both the buyer and the seller, the Dozier family. This was the third and final marina to be sold by the Doziers following the passing of patriarch Jack Dozier. The family is well-known in the marina industry, with long-standing ties to the Deltaville area.
"The Dozier family was looking for a buyer who would be a steward to the asset that has been in their family for many years," said Dan Grovatt, director for Colliers International's Leisure Property Advisors. "We had a number of offers, but it was Don and Sandy that gave the family confidence that their legacy would live-on through their vision for the property."
Located at 137 Neptune Lane, Dozier's Regatta Point Marina sits on 8.7 acres and is home to a clubhouse, swimming pool and bathhouse, 85 wet slips and 1,000 linear feet of side-tie dockage for boats up to 120 feet. Plans are currently underway to add a short-term rental cottage to the property, as well as additional amenities for seasonal clientele and visitors. The owners are also interested in using the clubhouse for weddings, private events and corporate functions.
"Being that Don and Sandy are first-time marina owners, there were a number of nuances that we helped them through during the process," said Andrew Cantor, founding partner and managing director for Colliers International's Leisure Property Advisors. "That being said, this is a great opportunity for a first-time buyer. It's an excellent facility that is focused almost exclusively on storage and attracts a number of high-quality clients and high-end boats."
Pringle and Bouvier plan to relocate to Virginia later this year. They will continue in their current careers in IT and healthcare, respectively, and manage the business side of the marina alongside the current marina manager. The marina will retain the Dozier's Regatta Point Marina name for the time being, but will transition to Regatta Point Yachting Center in the coming years.