Two prominent marinas known as Pennell Marina and Freedom Marina as well as some additional assembled land has been sold to new ownership Deerfield Development Resources, LLC & Marina First, LLC
William (Billy) A. Cunningham III of Park View Realty represented the buyer Deerfield Development Resources, LLC & Marina First, LLC. which is owned and led by Partridge Equity Group. William A. Cunningham III also represented the sellers as well which were the Pennell family (Pennell Marina) and Tod Littlejohn (Freedom Marina).
The two marinas are located just off Hillsboro Blvd near Dixie Highway. Both Marinas are on the Hillsboro River bordering Boca Raton, FL. Pennell Marina which was started in 1963 by Jack Pennell and now ran by his sons Mike Pennell and Dave Pennell is going to be converted to a large multifamily community and the boats currently at Pennell Marina are going to be consolidated at Freedom marina in a new indoor dry slip marina building that will be constructed. Freedom marina before the new ownership was operated for the past 20 years by Todd Littlejohn and his wife Jennifer Littlejohn. William A. Cunningham III and Bill Morris brought in Kimley-Horn and Caulfield & Wheeler to do the engineering and brought in Kaufman and Lynn to do the construction.
There are plans to put in a boardwalk that will connect both the apartment complex and the marina that will be storing the boats. The city is incredibly happy with the process and is supporting the change. This project will have a great impact to the surrounding area. There are also talks that William A. Cunningham III has also secured a $22,500,000 dollar equity raise for the project from some equity sources.
About Park View Realty
Park View Realty is a boutique real estate brokerage located in Delray Beach, Florida and offering a unique combination of commercial and residential brokerage as well as development services.
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Instagram : @billycunningham561
William A. Cunningham III
Park View Realty
Office Line: 561.856.7982
Email: [email protected]
SOURCE: Park View Realty
