Winnipesaukee Marina for Sale?
 

There is a Marina for sale on Winni listed for sale for $5.75 Million. Does anyone know which Marina it is?

Thanks
Tank

Where did you see it listed?

Melvin Village?
 

It is definitely not Glendale Marina because there are no wet slips, all valet.

The only Marina that I can think of with only 40 slips on 7 acres, family owned may be Melvin Village Marina?

What about Ambrose Cove Marina??...

Here is another listing
 

http://www.landandfarm.com/property/...Marina-402571/

Ambrose Cove do not have a website? I have no clue how many slips they have.

The view showed on the web site screams Melvin Village to me... But I would be surprise if it was for sale. Unless the next generation is just not interested in the business.

Does Ambrose cove have Rentals? That is indicated on the Webpage.... Boat rentals and gas dock

Meredith Marina?
 

Melvin Village has over 60 slips, rule that marina out.

I'm thinking Meredith Marina?

From the description my guess is Trexler's.

Yes Ambrose Cove has rentals and a gas dock. My guess would be around 40 in water slips as well...

I think Trexlers has more than 40 in water slips don't they??

Trexlers has no water slips... the Yacht club is completely separate from the marina.....

Not Lanes End
 

Lanes End does not have a ship store, but is family owned

Ahh, didn't know that...

Could it be Y-Landing?

I know it is not Melvin Marina. Matt has taken over the business from his father.

Sounds like Thurston's to me....

Yup, could be...

Glendale was also listed for far less and does not have 7 acres of land. Many of the marinas have offsite storage facilities that could add to make 7 acres.

The loopnet listing shows 703 n Main Street Laconia, but according to the map that address does not look to be waterfront. The broker in mass has an address of 703 Main Street but obviously not Laconia.

Does the description meet any of the Laconia marinas? I don't know how many slips lakeport or paugus bay have.

lakeport landing has about 150 slips. I know Paugus Bay marina is young, maybe 15 years old.

I'm thinking Meredith marina, how many slips there?

Thurston's website says they were established in 1972, the description mentioned that the marina had been in business for over 60 years. Might rule Thurstons out?

Ah, good detective work, you're probably right, or maybe they're trying to throw us off the trail?

I was going to inquire, but the terms are cash, and I only have 5.7 million lying around!:laugh::rolleye2:

How about Channel Marina?

If you look at Thurston's website- it was bought by the Thurston family in 1972, but was an operating marina since the early 50's. They also state 7 acres of land across the tracks. Thats my bet.

thurstons does not have 40 wet slips i believe and i believe hey werer selling some and have as condo slips, i cannot really count 40 slips unless includes the three or so around the gas dock itself. but it does seem like them, I really hope not

I heard last year that Trexlers was for sale, might even be a post on the forum about it. I know Quay side has the wet slips but I wonder if it is a subsidiary of the Marina or maybe the family owns both independently and would sell as a package. I do know its owned by the Trexler family, I have dealt with Scott Trexler many times. Not too sure about the rentals though. There is a gas dock and I know the family owns up the hill behind the Marina, maybe 7 acres..


My money is on trexlers...
HCG

I'm with diz. My wife tells me it was Hennon's before it was the Y Landing so that would explain the 60 years in business.

Unrelated, most likely, but word is that Downings has been sold.

Should be interesting to see what the plans are for that site.

I don't think that Y-Landing has 7 acres of land.

I think it is Thurstons because of the nabor next door :laugh:
We all no who that is :D

Ambrose
 

I'm sticking with Ambrose Cove...They fit the description perfectly.

Not Ambrose
 

I asked them today and they said its not them.
And they also didn't know of any marinas for sale.

Is there a Marina that has not been mentioned yet?
 

How about Lanes End????

You may want to ask again... ;)

There are far more then 40 slips at QuaySide... Which once again rules out Trexlers... Top that off with the fact that I still seem them making improvements around the property..... Make it unlikely to believe that Scott Trexler is thinking of selling.

What about any of the places in Alton? Gillan or Minge Cove? The first shot appears to be taken looking out of Alton Bay from Rt. 11 beyond Sandy Point...

I believe those are just generic pictures of the lake and boats on it taken in past years. Look at how close all those boats are in one picture, it almost looks like a poker run or some sort of gathering.
And given the none disclosure agreement whoever is selling it doesn't want anyone to know where it is or who it is.
Might be able to connect the dots by searching the details of marina's around the lake. 250 racks, 40 slips, gas docks those details should narrow it down.
7 acres of land really isn't a whole lot if you figure the size of a rack storage facility, shop, store and showroom.

Looking at description some items say 40+ as oppposed to 40 so it may not be exact figures in listing.

Channell Marine would be a Candidate !!

If I recall, they went out on the market a few years back.

Could it be . . .
 

Fay's?

I notice no one has guessed Fay's but Fay's seems to match the description. I thought I heard a couple years ago that the current owner was an older woman. I don't know much else about who in the family is involved but I've had only very positive experiences with them.

I also think very highly of Melvin Village Marina. I would be bummed if Matt was selling. Is his father still alive? He's excellent and he has a great service team. One of the most customer focused people I've met in a while.

Belknap County
 

I just noticed one of the listings says "Belknap County" as the location.

If that's intentional, it would rule out many of the marina's mentioned. It would leave us with everything from Meredith to Alton and south.

Not Y-Landing
 

It has an on-site residence above the store and the house next door too. Web description says no on site residence.

Seemed unlikely anyway.

Not likely it is Fay's. Family owned, Fay, 3rd generation and not by a woman. They have way more wet slips than the 40+ noted in the listing and 2 ships stores. Dry rack storage at water and over at Meadowbrook. They also have a separate Sales building on Rt 11. I have my boat there and have heard no rumors of it being for sale either.

Channel really seems to fit the description. I know they have a the rack storage building out front at their main building and another 2 or 3 buildings out back on the other side of the tracks. Could be.

so doesn't thurstons unfortunatley for me

Need non disclosure
 

I called the listing agent and he won't say which marina it is without signing a non-disclosure agreement, sounds pretty weird.


I still think it is Thurston's

\
why would you think that Is wierd? Thats S.O.P.

:D

And it states this right on the ad as well.
FYI Nothing weird about it, it happens all the time in big industry when hiring for high position jobs.

Ambrose Cove Marina seems to fit the description the best. They have @ 20 acres of land that is broken-up into 16 lots. They could split off 7 acres very easily.

Go to the Moultonborough, NH GIS Mapping site and type in A C Marina LLC for "Find Owner" and you will get 16 lots that they own: http://www.caigisonline.com/moultonboroughnh/

I don't know of any other Marina on Lake Winni that has 7 acres.

Ambrose cove is not located in Belknap County and one of the listings does say Belknap County. Checking the Laconia Assessors records it shows that Channel marine has 2 parcels totaling 6 acres and that Thurstons has 2 parcels totaling 7 acres. Just an FYI.

I don't believe Ambrose cove has the above mentioned features...Seems like we can rule them out...

Businesses for sale
 

If a business is ongoing, most owners prefer to be discrete in order not to upset current employees and customers.

Thanks for the info.

I guess I ruled out Thurston's because they haven't been in business for over 60 years. Then again I guess I should have ruled out Ambrose Cove because they aren't in Belknap county.

Ah the suspense. :eek::eek:
But if it doesn't sell we may never know which one it was.:cool:

Could it be Parker Marine in Alton?

No on Parker Marine
 

No fuel. No showroom. has 223 slips, wouldn't list 40+. Has 10 acres..why list for 7 acres only.

BroadHopper
I fully agree that it was left without a name for that reason. Imagine if the name got out and it didn't sell by next summer how many people may not purchase products or services based on the fact that its for sale. I can see the postings now about things like bad gas as they are trying to run the tanks down, services paid for and shoddy work being done as they are selling. I think that's gets the point across but curiosity kills the cat and could hurt a business. This is all IMO and I'm sure some/most won't agree but I think we all want business in the lakes region to survive and should help when we can.

Why not promote it
 

Anyone involved in the business knows what is going on. I would never buy a business when I don't know what will happen with the employees and customers. So the buyer will never allow you to "keep it from the customers".

No, I still am of the mind that this is very odd and not normal. If you want to sell something the more people know about it the better. You would be promoting this to other marinas in the area, even to those employees and customers who might be so happy with their treatment they might be interesting in buying. I see no "gain" in not promoting the name.

This is actually incredibly normal. When I see an add like this one, the first thing that come to my mind is actually, what is forcing the sale. The current marina owners could be in serious financial trouble, that is making it hard to keep the Marina going. If something like that got out, the hit to the Marina's business could / would make it unmarketable for sale. AS people would fear that if a buyer can't be found the marina will be closed.

When you buy almost anything, part of the value is the people who sold it. I would be very leary about buying a boat, renting a slip, storing a boat or even getting service from a marina that was obviously for sale.

Who knows who the new owners will be, could be that clown that I hate from that other marina. Will he honor agreements I have with the current owner? Why risk it, just go somewhere else.

Lot's of reasons for a business for sale to keep that fact secret. No reason not to, anyone with the money and skill to buy a multi-million dollar business, can very easily get the information.

This is extremely common. As others have said, you don't want to disrupt the current operation, and as this thread is evidence, a lot of gossip and speculation can be caused about 'why' the business is for sale.

This is not the kind of sale that is just going to go to some casual buyer who says ' I think I'll buy a marina', so there is little value in the word of mouth aspect.

The new owner will want to know
 

All I am saying is, if I was going to buy a business I would certainly want to know, even if it is a best guess as to what will happen with the employees and customers. You are not going to go into it blind. I new owner will not "take the word" of the old owner that all his customers will stay. As the new owner I would want to reach out to my customers to find out what they like or don't like and to assure them that things will not change or will get better, simply to gauge how many will stay. If someone has to sell because they are in financial trouble then I don't think the customer is going to worry that new blood and money are coming in to fix things up. In almost all cases customers don't leave upon news of selling, they will wait to see what the new organization will bring.

As others have said this is very common practice. Once you sign the confidentiality agreement, the information from the seller will be given to you. I do understand your point that your would like to speak to your potential customers, but anyone willing to purchase this type of business usually has the experience (or access to people who have the experience) to be able to understand the customer base.

Also, you certainly can negotiate what you will or will not do in your purchase agreement with respect to these issues.

Only point is, this is so common in this type of commercial transaction it really doesn't raise any specific "red flags" that you need to worry about. You will be able to get more information as you proceed to negotiate the purchase terms.

Unfortunately Steve, there are no guarantee's in life. The old owner would be foolish to promise his customers would stay as he has no control over the customers or what the new owner will do. Advertising the sale of a business like this could spook many customers causing problems for sales and service alike. People don't like change, especially change they have little control over. I would think once a confidentiality agreement is signed the old owner would open all his records to the prospective buyer. Then it is up the buyer to determine whether the risks are worth it or not. Employees generally want to be treated fairly and whether they stay or not is usually up to how the new owner treats them.

All that being said, this method for selling a business is pretty common place.

I was at Riveredge Marina on Squam Lake when Skip sold out...There was never any talk about it even being for sale so it was a shock for all of us. He had always written us a letter every winter in February telling us how the winter was going, not once did he mention the marina was for sale. The year he sold, right before ice out we got another letter from him saying he sold and he would be gone before we would all arrive in the spring. He explained the plans the new owner had and what they were going to do. His son and daughter stayed on for the first year or so then eventually all the help would leave. Ernie is the only one left as far as I know from the original staff when I was there.
<!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" LatentStyleCount="156"> </w:LatentStyles> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> <![endif]-->

@Steveo

You wouldn't be buying it blind. The non-disclosure doesn'ty mean the propective buyer can't get the details, they just can't share them.

It can take years for a large property to be matched up with a suitable buyer. Keeping the marina's market status discreet allows the business to be operated with less disruption. Not only cutomers but suppliers as well can get skittish. If the operator has a notable drop in revenue it will effect the closing price.

Until the business changes hands the owners have the right to keep the details private so just be patient.

To put your minds to rest.....
 

Heard today that Downing's (Alton Bay) has been sold to N.H. Fish and Game. Who'd a thunk it? Guess we'll know before long. Now let me see......
what will they do with it?

I can't imagine the state paid $5.0MM+ for a marina in this environment. Maybe it could happen in Chicago but not in Alton.

Downings doesn't fit the description at all... Not even close. May be unrelated.

that's four buyers for Downings...
 

I heard that Downings was sold....buyer: Parker Marine.

Mentioned it to a friend and asked if had heard this...yes and no...Downing's sold but not to Parker's...to Irwin Marine in Alton.

So then I heard, and do not believe, that it was sold to the Marine Patrol...

and now Fish and Game. Interesting to say the least...there are two parcels at Downing's...one .52 acre with the building appraised at 463K. the other .31 acre appraised at 237K.

time will tell.

No transfer of ownership for Downings Landing (Downing Brothers are the owners of record) has been recorded at the Belknap Regisitry of Deeds. Could be under contract though.
I could believe that Irwin's would buy it as it would give them a location to display and sell boats from.

They have done that in the past.
 

Irwin-Alton had a slip at Downing's for a few years, the one to the left side of the gas dock as you approach the dock from NW. They had it so you could dock there and then Irwin would come down and haul the boat up to their shop. They also used to have a few boats for sale in the lot on the side across from Parkers.

As a side note to add to the mystery, Matt Fassett, our local photographer, has had a shop at the landing for several years, and know seems to be operating out of the Williams Building on rte 11.

This solves the Downing mystery at least:

http://www.unionleader.com/article/2...WS06/121119539

I don't think the two transactions are related. Just look at the prices. The mystery marina was listed at $5.75 million and the state transaction went for $1.0 million.

They are clearly not the same, I was dispelling the theories in this thread about the plan for Downings.

Marina For Sale
 

Trexler's Marina in Moultonboro fits that description too.

Welcome to the forum
 

http://i52.tinypic.com/vsn94z.jpg Cobalt21BR, I just noticed that you are fairly new to posting on the forum and glad you have joined us. Have fun and enjoy the Winni Forum while making many new friends.:)

http://i54.tinypic.com/2e56yqf.gif

Could it be Melvin Village Marina?

I'll settle it here and now.....Who cares... :D

DPG, thanks for you insight your very helpful. Nice to have a forum where people can ask questions no matter how dumb they seem to you.

It's been 14 months since this thread started and 11 months since its most recent posting. I don't recall any marina transactions, so I can only assume the owner changed his/her mind.

Anyone hear anything on the subject in 2013?

Glendale
 

The only Marina That I know of on the lake that changed hands in the last 14 months is Glendale...

Dan

I just checked the link in the third post of this thread; it still works and goes to an active listing and it appears it has not sold yet. The asking price has been reduced from $5.75 million to $5.68 million. Apparently that part of the real estate market hasn't rebounded yet.

Have heard that Roberts Cove Marina is being sold or has been sold to Irwins. Could this be one and the same?
I highly doubt Melvin Village Marina sells anytime in the next 15 years...

Or perhaps the asset is overpriced?