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 three mobile home parks located in the Durham-Hillsborough area of the Raleigh MSA. The portfolio sold for an undisclosed price, and the properties included are as follows:
- 203 Duke Forest Park Lane in Durham, North Carolina
- 100 Carolantic Road in Hillsborough, North Carolina
- 1708 Highwoods Loop in Hillsborough, North Carolina
Glenn Esterson, senior vice president investments in the firm’s Charlotte Uptown office, arranged the off-market deal to an all-cash buyer. The deal closed ahead of its scheduled closing date.
“This was a well-executed, off-market sale with a motivated seller and capable cash buyer,” says Esterson. “It was a pleasure to work with both of them, and we look forward to working with them again.”
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.