LAKELAND, Fla., April 1, 2019 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Melody Acres, a 36-unit manufactured homes community in Lakeland, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $1,000,000.
Dan Mulkey, an investment specialist in Marcus & Millichap’s Tampa office, handled this transaction between the seller, an out-of-state LLC, and a local Tampa buyer. The buyer, a private investor, was also secured and represented by Dan Mulkey.
Melody Acres is located at 5270 New Tampa Highway in Lakeland, Fla. The 36-unit property has private water and sewer lines and redevelopment potential.
“This was a great play for the buyer who recently purchased the mobile home park abutting Melody Acres. The buyer is well versed in turn around investments and Melody is certainly that. The end result will produce a two-park combined community of about 135 units,” said Mulkey.
About Marcus & Millichap (NYSE: MMI)
With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap 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.