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| James Vestal |
PLANT CITY, FL, July 14, 2014 – 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
Rainbow Rock Mobile Home Park, a manufactured homes community located in
Plant City, Florida, according to Richard D. Matricaria, regional manager of
the firm’s Tampa office. The asset sold for $1,280,000.
James Vestal, an associate in Marcus &
Millichap’s Tampa office, had the exclusive listing to market the property on
behalf of the Wisconsin-based seller, a limited liability company. Vestal also procured the buyer of the
property, a private investor from Washington.
Rainbow Rock MHP was built in 1954 and is located at 1150
Fletcher Lane in Plant City, Florida.
The property is situated on approximately 10.1 acres of land and is
comprised of 20 one-bedroom/one-bathroom apartments, 21 RV spaces and 46 mobile
homes.
“The sale of Rainbow
Rock is a great indicator that investments in secondary and tertiary markets
are in very high demand in Tampa Bay,” said Vestal. “Due to the extensive Marcus & Millichap network and
unbeatable platform, we were able to find the right buyer which culminated in
the successful closing of this transaction”
For a complete copy
of the company’s news release, please contact:
Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700
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