Marcus & Millichap announced on Tuesday, May 7, the sale of three mobile home parks located near Fayetteville, North Carolina.
“This was a heavy value-add MHC three park portfolio with 151 lots, 128 park owned homes and 61 tenants located in the southeast I-95 corridor in North Carolina,” said Glenn Esterson, senior vice president investments in a press release. “We procured multiple offers and ultimately closed with no re-trading and ahead of schedule. We would like to thank the seller and buyer for a job well done.”
Esterson, Kyle Baskin, Jonathon McClellan, Connor Outcalt and Michael DiCillo, investment specialists in Marcus & Millichap’s Charlotte Uptown and Cleveland offices, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The portfolio includes Pine Log at 4645 Pine Log Road in Lumberton, Pinewood Estates at 18 Mcadam Road in Elizabethtown and White Sands MHP at 3623 Locklear Street in Fayetteville.
In total, the properties encompass 151 sites within a 35-mile radius of each other. The parks are situated on a combined 147.39 acres with some units constructed in 2019 or later.
Marcus & Millichap is a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services.
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