$15.2 Million Buys Michigan Manufactured Home Community

Jonathan McClellan

DETROIT, MI – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 400-site all-age manufactured home community in Eastern Michigan.

The $15,221,788 sales price equates to $37,865 per space.

            Jonathon McClellan, vice president investments, and Kyle Baskin, associate vice president investments, both in Marcus & Millichap’s Cleveland office, represented the seller, a private investment group based in Arizona.

The buyer is Kingsley Management Corp. Steven Chaben, senior vice president in the firm’s Detroit office, is Marcus & Millichap’s broker of record in Michigan.

            The 88.2-acre community features concrete streets, mature trees, and a creek. All homes have lap siding and shingled roofs.

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

Gina Relva

Public Relations Manager

(925) 953-1716