MarineMax now operating from Oldsmar headquarters

MarineMax has moved its headquarters out of Clearwater without a formal announcement.

The nation’s largest recreational boat and yacht dealer now operates from a 40,000-square-foot space in Oldsmar. The new corporate office is part of the environmentally resilient Neilsen Media Research campus at 502 Brooker Creek Blvd.

In a recent LinkedIn post, Matt Coticchio, president of Orlando-based Interstruct Design + Build, said his company built the new headquarters. He also noted construction concluded in 2024.

“Thanks to the dream team of Dana Clark and Millette Schmidt from ASD|Sky Architects, our friends at Kimley-Horn and project manager Arnaldo Abreu of Relofant, MarineMax’s HQ is the diamond of the sprawling Nielsen Business complex,” Coticchio wrote.

MarineMax declined to comment.

The publicly traded company’s regulatory filings began showing a new address in late August 2024. However, MarineMax did not formally announce the move in previous or subsequent press releases.

Interstruct has a local office in Tampa and retrofitted MarineMax’s new headquarters in two phases. The first encompassed 30,000 square feet in Building A and the second consisted of 10,000 square feet in Building C.

Coticchio told the Catalyst that a pedestrian bridge connects the nautical-themed Class A office space. He said the project featured “high-end finishes, millwork, technology and beautiful conference spaces.”

Matt Coticchio, president of Interstruct Design + Build, called MarineMax’s new conference spaces “beautiful.” Photo: LinkedIn.

MarineMax’s previous headquarters was at 2600 McCormick Dr. in Clearwater. Coticchio is unsure why the company moved and could not say how much the project cost. However, he noted Interstruct’s local office completes $35 million to $40 million worth of tenant interior improvements annually.

Nielsen opened its Oldsmar campus in September 2003, on 39 acres surrounded by the Brooker Creek Preserve. “We’ve done a few projects in there now, so they’re obviously trying to lease the buildings,” Coticchio said.

The facility’s first phase, totaling 475,000 square feet, cost $71.5 million over 20 years ago. Five interconnected buildings feature training rooms, conference spaces, a 330-seat cafeteria, a 100,000-square-foot data center and a “central plant” with a 25,000-square-foot computer room.

A storm-hardened facility

According to Nielsen, phase one structures can withstand a Category 5 hurricane with 155 mph winds and a 25-foot storm surge. Mechanical and electrical systems are “fully redundant” and can operate without outside utilities for 72 hours.

“The campus has a dual underground utility loop to assure that NMR will never lose power, air conditioning, or communications due to unforeseen conditions,” Nielsen said when announcing the project.

The development’s second phase included a four-story, 140,000-square-foot office building. “I would assume they have all those redundancies,” Coticchio said of the various facilities.

The $26.5 million (in 2005) project included a 600-space parking garage and added 80,000 square feet to phase one facilities. That brought the complex to nearly 700,000 square feet. “I don’t know how long they (Nielsen) have been out of that building, but much of the campus is vacant,” Coticchio said.

Intrerstruct has completed multiple projects at the Nielsen Media Research campus. Photo: LinkedIn.

Hurricane season aftermath

MarineMax began retrofitting its new headquarters before Hurricanes Helene and Milton decimated the area in the fall of 2024. However, the unprecedented storm season took a toll on the rapidly expanding company.

In its Oct. 31 earnings report, MarineMax wrote that in-store sales decreased by 5% due to Helene. CEO Brett McGill noted Milton substantially damaged the Sarasota location.

“As previously disclosed, the effects of Hurricane Helene significantly impacted our fourth-quarter results, causing damage and disruption to a number of our locations along the west coast of Florida. Hurricane Milton has exacerbated the damage,” McGill said in a prepared statement. “From an operational perspective, we performed well in light of what has proven to be one of the more challenging years for our industry.

“As part of our long-term improvement plan, we implemented further strategic cost-cutting actions during the fourth quarter, including consolidating certain retail locations. Expense reduction remains a focus in fiscal 2025, with the goal of driving improved operating leverage.”

MarineMax has continued expanding – despite the storm-induced headwinds. Company officials announced Jan. 31 that they signed a definitive agreement to acquire Marathon-based Shelter Bay Marina.

The marina provides unrestricted ocean access from the Florida Keys. Shelter Bay can house over 175 boats and offers comprehensive service and retail facilities.

“The acquisition of Shelter Bay aligns seamlessly with our strategy of acquiring higher-margin businesses that complement other parts of our business and create valuable synergies,” McGill said.

MarineMax, now based in Oldsmar, operates from over 120 global locations. Those include more than 70 dealerships and 65 marinas and storage facilities.