TARPON SPRINGS, FLA., July 22, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of a 15.37 acre mobile home community in Tarpon Springs, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $6,400,000.
Dan Mulkey, vice president investments, in Marcus & Millichap’s Tampa office, represented the seller, a local private investor and the owner of multiple mobile home and RV communities in the area. The buyer, Shamrock Tarponaire LLC, was also secured by Dan Mulkey. Shamrock is a well-known, Arizona based investment company experienced in the purchase and operation of mobile home communities.
The park is an age restricted, lakefront community with over 135 sites located on US Highway 19 along Lake Tarpon, a 2,500 acre freshwater lake and the largest in Pinellas County. This community consists of both single and double wide homes, and has a clubhouse, shuffleboard courts and boat docks on-site. Additionally, the park is within close proximity to shopping and medical facilities, as well as the popular Greek community of Tarpon Springs, which is famous for some of the finest Greek restaurants, markets and bakeries in the country.
“This site, having generous lake frontage, provides the buyer an opportunity to upgrade many of the homes on site, as well as back-fill vacant sites adding worth to the asset, and by doing so the value of this community will be greatly enhanced,” says Mulkey.
# # #
About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com