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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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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.