FOLEY, AL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of The Grove Mobile Home Community (top left photo) , a 112-acre manufactured home community property located in Foley, AL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.
The asset commanded a sales price of $3,342,458.
Dan Mulkey and Jon Harrison, vice president investments in the firm’s Tampa and San Diego offices, along with Edwin Greenhalgh, investment specialist in Marcus & Millichap’s Alabama office, had the exclusive listing to market the property on behalf of the seller, an Alabama-based limited liability company.
The buyer, a private investor, was secured and represented by Dan Mulkey. Matthew Fitzgerald, Broker, assisted in closing this transaction.
“The buyers, a Florida family, have a lot of experience in marketing and filling new senior communities and feel confident they can continue the work started by the seller” says Mulkey.
The first phase (165 lots) is developed and operational. Amenities include a clubhouse, shuffleboard, library, pool and spa, RV and boat storage, walking/jogging path and a lush tree-lined 4.5 acre lake.
Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
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