Lakeland Apartment Property Trades for $18M
Marcus & Millichap has brokered the $17.5 million sale of Griffin Park, a 178-unit apartment property in Lakeland. Shawn Rupp, Casey Babb and Luis Baez in Marcus & Millichap’s Tampa office represented the buyer, a private investor, in the transaction. The seller was not disclosed.
Located at 1013 Griffin Rd., the property was built in the 1970s and was recently renovated in 2015. Amenities include cornhole courts, a community courtyard, fitness center, playground and pool.
“Of the eight transactions our team has closed since the onset of the pandemic lockdowns, this was the most challenging yet,” said Babb. “All parties to the transaction worked tirelessly to get it done. Our team will work with the buyer to implement strategic renovations to take advantage of this incredible location and its high concentration of industrial distribution and warehousing jobs, which are in high demand now and in the future.”
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