LAKELAND, FL, September 13, 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 Townsley Estates, a 5.2-acre manufactured home community in Lakeland, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,425,000.
Dan Mulkey, vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Dan Mulkey.
Situated in Lakeland, Florida between Tampa and Orlando along Interstate 4, this small senior community offers its residents quiet living while placing them close to a major mall, hospitals, shopping and transportation. The manager’s home is a two-bedroom, stick build dwelling with a pool. Because of its close proximity to Tampa, Orlando and the crossroads of two of Florida’s most heavily traveled highways, Interstate 4 and U.S. Highway 27, Lakeland has become a high growth area boasting heavy commerce and housing development.
“After purchasing the community in 2008 the seller has done a very nice job of upgrading and filling the park,” says Mulkey. “As a Canadian citizen he intends to reinvest his sale proceeds into Canadian real estate.”
“The buyer, a California resident, is venturing into Florida real estate for the first time with intentions of investing in more manufactured housing in the immediate future,” concluded Mulkey.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing 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 8,700 transactions in 2015 with a value of approximately $37.8 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