Weekly Real Estate News
The commercial real estate brokerage Marcus & Millichap (NYSE: MMI) announced the $12.8 million the sale of Cape Fear Village, a 183-lot mobile home property located in Fayetteville, North Carolina.
Cape Fear Village opened in 2000 and spans 45.8 acres. The community is 92% occupied and includes 167 rented park-owned homes, 13 vacant park-owned homes, two tenant-owned homes and one vacant lot.
“We are pleased to announce the closing of Cape Fear Village,” said Glenn Esterson, senior vice president of investments at Marcus & Millichap. “We sourced multiple offers and ultimately closed this transaction with a cash buyer in a short time frame despite numerous challenges associated with this deal. We thank the sellers for this opportunity to assist them in disposing of this park and congratulate the new owners on a job well done.”
