Continuum Company acquired Shuckers Waterfront Bar & Grill and Best Western On The Bay Inn & Marina in North Bay Village. Jesta Group sold the 2.31-acre site for $75 million. An acquisition and pre-construction development loan was secured for $67.5 million from  Longline Financial.

The property is adjacent to the company’s latest waterfront development in North Bay Village, Continuum Club & Residences, thereby expanding its North Bay Village waterfront footprint to 4.5 acres.  Continuum’s Ian Bruce Eichner added, “We saw a substantially undervalued oceanfront development opportunity, and then transformed the neighborhood into one of the most coveted places to live.”

The on-site restaurant and hotel will remain open and fully operational until the company completes its redevelopment plans.

North Bay Village is primed for redevelopment following its 2020 rezoning.  The development consists of over 3,000 new residential units and 1 million square feet of commercial and retail space.