Off the Hook Yachts today announced the acquisition of a waterfront property on Kent Island, Md. The Chesapeake Bay location will serve as the company’s new Mid-Atlantic operational hub while expanding capabilities for inventory reconditioning, storage, financing and asset recovery.
“The Piney Narrows location in Kent Island, Md., gives us exactly what we need to scale our Mid-Atlantic operations,” Off the Hook founder Jason Ruegg said in a statement. “With direct water access, high visibility, and the ability to store and manage a significant amount of inventory on our own property, this facility dramatically improves efficiency while positioning us for long-term growth.”
The property can accommodate up to 150 boats, allowing Off the Hook to house a large portion of its regional inventory on-site. Previously, it relied on third-party storage at an average cost of approximately $500 per boat per month, a recurring expense that will now be largely eliminated, the statement said.
“This acquisition gives us control of critical infrastructure in a highly active boating market, which is difficult to replicate and increasingly valuable as we scale,” Off the Hook CEO Brian John added. “With this facility, we expect to drive a meaningful increase in annual transaction volume while realizing additional cost savings, driven by expanded strategic facility ownership and broader operating efficiencies.”
