MARCUS & MILLICHAP FACILITATES RECORD PRICE PER SPACE FOR A MOBILE HOME PARK IN LAS VEGAS
Press Release
FOR IMMEDIATE RELEASE
David K. Rogers
(909) 605-1800
ONTARIO, Calif., January 31st, 2006 - Marcus & Millichap Real Estate Investment Brokerage Company, the nation's largest real estate investment brokerage firm, recently announced the sale of Cypress Gardens Mobile Home Park located in Las Vegas, Nevada. Setting a record price per space for a mobile home park in Las Vegas, the park totaling 131 spaces, commanded a sales price of $8 million with a 7.06 percent capitalization rate. David Rogers, Senior Director NMHCG, of Marcus & Millichap's Ontario office represented both buyer and seller.
Cypress Gardens Mobile Home Park, located just minutes from the Las Vegas Strip, has a pool, clubhouse, laundry facility, and playground. Built in 1988, the park sits on 12.42 acres and has a 97 percent occupancy rate.
With 38 offices and more than 800 investment professionals nationwide, Encino, Calif.-based Marcus & Millichap is the largest commercial real estate brokerage in the nation focusing exclusively on real estate investments. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry's most comprehensive research and analysis capabilities, state-of-the-art technology and established relationships with the largest pool of qualified investors nationally.
DAVID K. ROGERS SENIOR ASSOCIATE / SENIOR DIRECTOR N.M.H.C.G. DIRECT PHONE (909) 292-2325 CELL PHONE (562) 879-0367 MAIN FAX (909) 605-1832 DIRECT FAX (909) 331-3902 E-FAX (909) 937-8079
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