LAKELAND, FL, January 8, 2016 – 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 Oak Meadows Mobile Home Park, a 9.8-acre manufactured homes community in Lakeland, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $1,125,000.
Dan Mulkey, vice president investments in Marcus & Millichap’s Tampa office, represented both parties in this transaction. The seller was an limited liability company from the state of Washington and the buyer was a Lakeland-based limited liability company.
Oak Meadows Mobile Home Park is located at 8535 Mathews Road in Lakeland, Florida. “The community consists of 52 sites that are predominantly home rentals,” says Mulkey. “The buyer is a very experienced operator that intends to upgrade the existing rentals homes and backfill the vacant sites, which will provide an excellent return on investment.”
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About Marcus & Millichap (NYSE: MMI)
With over 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