Real estate corporation with a passion to enhance and diversify portfolio through wise investments, with strategic business partners in an ever-changing market.
Oceanside Resorts, Inc. is a closely-held entrepreneurial real estate firm that owns and/or manages over a million square feet of signature hotel, commercial and retail properties primarily located along the Atlantic seaboard. Since its founding in Miami Beach in 1987, Oceanside has grown to become a major investor in many prominent properties throughout the Eastern United States.
Oceanside was founded to own and operate the Holiday Inn South Beach Resort, a 355-key hotel located directly along the Atlantic Ocean in famed South Beach. Under the direction of Claire Callen, who joined Oceanside as its president in 1998, the Holiday Inn South Beach Resort became one of the most profitable Miami hotels in terms of revenue per available rooms (RevPar). In 2000, the hotel received the prestigious Modernization Award from Holiday Inn for its innovation, multi-million dollar renovation.
In 2004, Oceanside sold the Holiday Inn South Beach Resort and began to diversify its holdings. However, Oceanside has maintained a significant interest in the lodging sector. Purchased in 2007, Oceanside owns and operates the 222-key Sheraton Charlotte Airport Hotel in Charlotte, North Carolina. Oceanside also operates the 218-key Holiday Inn Miami International Airport in Miami, Florida.
Oceanside began diversifying into the office sector with the purchase of the 300,000 square foot Bank of America Place property in Charleston, South Carolina. Since 2004, Oceanside has solely owned or invested in an additional 1.5 million square feet of Class A office space located along the East Coast. Typical acquisition targets are core, signature assets with a market-leading position in their respective locations.
Exemplifying this strategy is Oceanside’s 2006 investment participation in the 36-story, State Street building in Boston, Massachusetts. This, 1,050,000 square foot net-leased property was built in 2003 and occupies a prominent position in the city’s skyline. Other significant acquisitions include the 14-story Bank of America Plaza in Columbia, South Carolina and the MeadWestvaco regional headquarters in North Charleston, South Carolina. The most recent purchase is a 4-story office building in the center of Asheville, North Carolina.
Retail has always been a part of Oceanside’s portfolio. The Holiday Inn South Beach Resort contained over 30,000 square feet of retail tenants including CVS, Enterprise Rent-A-Car and Outback Steakhouse. Likewise the Fairwind Hotel contained approximately 15,000 square feet of prime retail including a nearly 9,000 square foot destination restaurant.
In Savannah, Georgia, Oceanside owns over 21,000 square feet of retail property and manages an additional 127,000 square feet of retail along historic River Street. Many of Oceanside’s commercial office buildings, such as Charleston Bank of America Place and the State Street Building also contain retail components.