Marcus & Millichap Brokers 126-Space Mobile Home Park

9/26/19

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Clear Creek Rentals Ltd Mobile Home Park, a 126-space manufactured home community located in Killeen, Texas.

Robert Denninger, first vice president investments in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, a private investor.

“With an eye constantly towards making the deal as beneficial as possible for all parties, he maintained professionalism and integrity in every situation,” said the buyer of Clear Creek Rentals.

Clear Creek Rentals LTD Mobile Home Community was a unique park that is located in such close proximity to the Fort Hood Military Base that the park-owned model made more sense than the lot rent model. Denninger was able to communicate this to several receptive national buyers, and ultimately a buying group out of Dallas executed flawlessly and are now thrilled to move forward with the asset.

“I was pleasantly surprised at the demand for this park-owned park and ultimately closed the deal substantially higher than the original list price,” said Denninger.

Clear Creek Rentals Ltd Mobile Home Park is located at 6000 South Clear Creek Road in Killeen, Texas.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.