Marcus & Millichap Inc.
10/18/2021 | Press release | Archived content
Marcus & Millichap Arranges the Sale of a 41 Acre Manufactured Home Community, RV Park and Storage Property
COOS BAY, OR, October 18, 2021 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Alder Acres, a 41 acre manufactured home community, RV park and storage facility located in Coos Bay, OR. According to Joel Deis, regional manager of the firm's Portland and Seattle offices, the asset sold for $11,000,000.
Rand Hoffman, Tyson Cross, and Anja Jauregui investment specialists in Marcus & Millichap's Portland office, had the exclusive listing to market the property on behalf of the seller. The buyer was a very experienced mobile home community investment company that owns more than 150 parks and was specifically looking to scale their RV footprint in Coos Bay, OR and were intrigued by the additional storage capabilities at this property.
Alder Acres is located at 1800 S 28th Ct in Coos Bay, OR. The property features a 50-space 55+ age restricted mobile home community and 88 space all-ages RV park. In addition, there are 315 long-term boat, RV and vehicle storage spaces with a mix of covered and uncovered sites situated on 10 acres. The property was owned by the sellers for nearly 20 years during which time they greatly expanded the RV park and developed the 10-acres of storage. With this sale, our client intends to purchase four mobile home communities in three cities. Once their 1031-tax deferred exchanges are completed, our client will have more than doubled their mobile home sites and more than tripled their acreage in Oregon and Northern California.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.