Vision Marine Technologies Inc. (NASDAQ:VMAR) shares made some headway Friday. The pioneering marine technology company today announced the sale of the property on which a Nautical Ventures dealership is located at 300 U.S. Highway 1 in North Palm Beach, Florida. The Company intends to consolidate operations from this dealership into its neighbouring water sports showroom at 139 Shore Court, enhancing operational efficiency while continuing to serve customers in Florida - the largest recreational boating market in the United States - through its Nautical Ventures retail network.
When Vision Marine acquired Nautical Ventures in June 2025, it also obtained rights to acquire properties owned by Nautical Ventures' related parties as well as the right to receive the net proceeds from any subsequent sale of those properties to third parties.
Following repayment of the mortgage associated with the property, Vision Marine received approximately US$2 million in net proceeds, which were applied to reduce the Company's outstanding floor-plan financing. The transaction reflects Vision Marine's strategy to optimize its dealership footprint while unlocking real-estate equity and improving liquidity.
"We continue to streamline operations at Nautical Ventures," said Alexandre Mongeon, Co-Founder and CEO of Vision Marine. "By combining our neighbouring locations in North Palm Beach, we expect to realize annual savings of up to US$0.8 million without materially impacting sales.
VMAR shares took on four cents, or 2.5%, to $1.63.
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