Cole Realty acts as agent to acquire Corral RV Park in Tomball

Cole Realty recently announced they acted as the agent for Corral RVP LLC to acquire Corral RV Park in Tomball. Cole Realty & Management will provide management and leasing services for the property.

Cole Realty Partners of The Woodlands assembled a group of investors and obtained a Commercial Mortgage-Backed Securities (CMBS) loan to purchase the property, which carried an asking price of $9,750,000.00. Bill Cole and Morgan Cole of Cole Realty represented the purchaser and Lance Langenhoven of The Commercial Professionals represented the seller in the transaction.

Corral RV Park located at 1402 S. Cherry Street in Tomball is an RV Park with 210 spaces offering competitive long-term rates. Pull- through spaces are 60 up to 100 feet long and 40 up to 80 feet wide. Property services include WIFI, cable television, ATM, commercial laundry units, showers, recreation halls, RV parts store, and mini-storage on site. The park is also close to area attractions in Tomball, Spring and The Woodlands.

According to Ibis World, “the campgrounds and RV parks industry has experienced steady growth. The industry is primarily driven by travel-related trends, as trips to campgrounds and RV parks are viewed as cost-efficient alternatives to traditional vacations. Over the last five years, industry revenue growth was supported by a rebound in recreational vehicle sales, an increasing baby boomer population and rising levels of per capita disposable income. Over the next five years, revenue is expected to rise, as oil and gas prices are expected to remain low. Improvements in the broader economy, as well as an aging population, are expected to continue to support industry revenue growth.

About Cole Realty Partners

Cole Realty specializes in identifying unique investment opportunities and developing and maintaining investor relations. Quality, performance and value are the principals used to evaluate each potential transaction.
Bill Cole formed Cole Commercial Realty in 1995 His clients include The Conroe Independent School District, Vintage Sports cards, First National Bank, Dresser Industries, Cornerstone Mortgage, Saxon Drilling, The Goose’s Acre Restaurant, Oxbow Corporation, State Representative Rob Eissler, Texas Orthopedic and Sports Medicine, and Life Chek Drug.

Bill is a resident of The Woodlands, and is an active member of The Woodlands Rotary, The Woodlands Chamber of Commerce, and The Woodlands United Methodist Church.

Since 1993, Morgan Cole has lived and worked in The Woodlands. After graduating from The Woodlands High School he went on to Texas State University in San Marcos, TX, and in 2008 he began his commercial real estate career. He is a licensed real estate broker as well as a Certified Commercial Investment Member (CCIM) and a Certified Property Manager (CPM), primarily specializing in the acquisition and management of investment properties. His expertise in investment brokerage, property analysis, identifying unique investment opportunities, negotiating contracts, and providing hands-on professional management services are all skills that Morgan’s clients benefit from.

Morgan has represented a broad range of clients from private investors to public corporations, in a wide variety of transactions including office leases, commercial land and building sales, and the acquisition of numerous investment properties. He is focused on growing the family real estate brokerage firm through hiring new agents, marketing the company, continuing to be involved in community events, and working with his base of active real estate investors. In addition to his experience in sale and lease transactions, he and his team currently manage a large portfolio of investment properties for their clients.

For more information, visit www.colerealty.com or call 281-249-9024.