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 Flat Rock Road RV Park, a 101-site RV Park located in Azle, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Robert Denninger, an investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Denninger.
“We closed at the originally negotiated price determined before Texas Covid-19 lockdown, with the first buyer to go under contract,” stated Denninger.
“Robert sold an RV park for me a little over a year ago, so I knew what it was like to work with him. What I didn’t have any experience in was trying to get a park to the closing table in the middle of an international pandemic! Robert brought an out-of-state buyer who had closed with him before who kept all of their promises throughout the transaction. If I were to say I didn’t have moments watching the news where I became very concerned about this deal getting done I’d be lying. Thank you again Robert for another great selling experience,” commented the seller.
The buyer expressed, “I bought a park through Robert a little over a year ago in the DFW area and was excited when he rolled out Flat Rock Road RV Park. He knew how we operate within a transaction and helped us with understanding the park and was instrumental in giving us access to local vendors and the property manager. There’s no question that Covid-19 gave us some early scares, but Robert provided frequent updates. We believe in the RV Park asset class and we believe in the Texas marketplace. I am counting on Robert to bring our team more deals!”
Flat Rock Road RV Park is located at 101 Mundi Lane in Azle, Texas.
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 9,726 transactions in 2019 with a value of approximately $50 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.
