Tuesday, October 6, 2015

Marcus & Millichap Arranges $915,000 Sale of Grove Mobile Home Park in Lutz, FL

Dan Mulkey

LUTZ, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Grove Mobile Home Park, a 34-unit manufactured home community in Lutz, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $915,000.

Dan Mulkey, vice president investments, and Daniel Hurd, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller.  The buyer was secured and represented by Hurd and Mulkey. 

Grove Mobile Home Park is a well occupied, 34-unit community nestled back in a quiet residential area of northern Hillsborough County. The community, which was built in 1966, sits on 7.76 acres and has a mix of single and double wide homes. 

There are several major thoroughfares, including Interstate 4, Interstate 275 and the Veterans Expressway, located within a few miles of the park making travel throughout the Tampa Bay area very convenient.

“Our strategic marketing campaign allowed us to generate multiple offers on the property throughout the listing period, which ultimately resulted in a sale to a local group of investors,” says Hurd. “The buyers see significant opportunity to add value by filling and renting the vacant lot, while raising rental rates to market.”

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Vice President/Regional Manager, Tampa

(813) 387-4700

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