The family-founded firm bought a one-acre parcel in Stuart Commerce Park for $124,000 or $2.85 per sf and plans to break ground in January on a 12,000-sf, $725,000 plant that will accommodate boat lengths up to 75 feet. Construction will take about six months.
Whiticar will continue to keep its seven-building core operations at its two-acre headquarters site at 3636 Old St. Lucie Road in Stuart, 120 miles north of Downtown Miami. That location can handle the repair and renovation of 40 boats at one time.
The company's boats take two to three years to build. Seven workers have been added to the 50-person staff. Another eight are expected to be hired next year. Whiticar's 1999 sales totaled $4 million.
"We will never really be a big company," company principal Jim Dragseth says in a published statement, "but we have a really nice niche." Dragseth and cousin John Whiticar own the firm.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
