Vista Trailer Park, RV Resort Change Hands for the First Time

Marcus & Millichap closed the sale of Melrose Trailer Park and Olive Avenue RV Resort in Vista. The total purchase price is $20.35 million.

“Melrose Trailer Park and Olive Avenue RV Resort have been owned by our clients for several generations and this is the first time the properties have ever traded hands,” said Dustin B. Wilmer, first VP investments in Marcus & Millichap’s San Diego Del Mar office. “These adjacent parks were 98% occupied with strong collections at the time of the sale. The opportunity to own high-quality parks totaling 150 sites with near 100% occupancy in San Diego generated multiple offers through our company’s platform and team process.”

Wilmer and Douglas Danny, senior managing director investments with Marcus & Millichap, represented the sellers, Melrose Trailer Park Inc., and procured the buyer, Pacific Current Partners. “The new owner has many years of experience operating recreational vehicle and manufactured housing communities throughout California,” Wilmer added.

Don’t miss Connect Retail West happening next week on Wednesday, Nov. 6 in Los Angeles! Join the leading names and major industry players from ICSC, Caruso, Anderson Real Estate, Primestor, and more there. Be sure to register in advance; registration pricing increases on event day!