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Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), owner of Nautical Ventures, one of Florida's leading marine dealership networks, today announced a further strategic consolidation of Nautical Ventures' operations to enhance efficiency and focus resources across its statewide retail and service footprint.
Following the recent sale of the property at 300 U.S. Highway 1 in North Palm Beach, Florida, Nautical Ventures has now completed the sale of its neighboring property at 139 Shore Court, while simultaneously securing a long-term lease with the buyer to continue operating the same address as a full dealership and service center. The location will continue to offer the same wide brand selection Nautical Ventures has been known for - including Axopar, Beneteau, Fairline, Brabus, Wellcraft, Edgewater, Starcraft, and more. Together, these transactions form part of Vision Marine's broader plan to streamline real estate holdings and optimize capital allocation across its retail network.
The sale of the two properties generated approximately US $3.9 million in net proceeds for Vision Marine, which will be reinvested directly into Nautical Ventures' operations and used to reduce floor plan financing, supporting continued growth, enhancing dealership performance, and strengthening customer experience. The consolidation is also expected to deliver an estimated US $0.8 million reduction in annual operating expenses. Combined with the previously announced sale of 300 U.S. Highway 1, Vision Marine anticipates aggregate annual savings of approximately US $1.6 million resulting from these strategic operational moves.
The streamlining effort reinforces Nautical Ventures' position as a customer-driven retail leader, representing many of the industry's most recognized boat brands and marine products. By focusing on high-impact retail sites and operational efficiency, Nautical Ventures continues to deliver premium products and after-sales service to boaters throughout Florida's Gulf and Atlantic coasts.
This initiative supports Vision Marine's broader strategy of building a scalable, performance-oriented marine platform that combines strong retail operations with the commercialization of its proprietary high-voltage E-Motion™ propulsion technology.
Posted In: VMAR
