A marine construction firm and family-owned restaurant group have partnered to acquire a marina in St. James City on Pine Island in Lee County.
The buyers are WB Williamson Bros. Marine and Phelan Family Brands. The entities, according to a statement, acquired Wallace Bait Marina. Financial terms of the deal weren’t disclosed. “This strategic move marks an exciting development for both organizations, as they come together to carry forward the legacy of Wallace Bait,” according to a statement from both WB Williamson Bros. and Phelan Family Brands.
Wallace Bait Marina, the release states, will soon be relocating just down the street to the St. James City Marina, where the Island Crab Company Retail Market is located. “This relocation is a significant step in preserving the historical and cultural significance of the Wallace land, which has played a vital role in the community for generations,” the release states.
The companies in the joint statement say “in the coming years, the new owners will reveal their intentions for the land, ensuring that it continues to be a place of significance and purpose for the community.”
WB Williamson Bros. has recently acquired two other marinas in the area, according to a story in the Pine Island Eagle newspaper. Part of the reason for the purchase was to get more storage space.
WB Williamson Bros Marine specializes in new construction of docks and seawalls, dock repair, seawall repairl, and custom Tiki huts. Bonita Springs-based Phelan Family Brands operates eight brands and more than a dozen restaurants in Southwest Florida, including Pinchers Crab Shack, Texas Tony’s Rib & Brewhouse and Deep Lagoon Seafood.