The 73-lot Whitehouse Cove manufactured-home community at 105 Rens Road in Poquoson recently sold for $7.75 million, the commercial real estate firm marketing the property announced.
Robert Brown & Associates developed the Whitehouse Cove community after acquiring the 14.8-acre property at the end of Rens Road for $6.8 million. The sale does not include the adjacent Surf Rider restaurant and the 156 wet-slip Whitehouse Cove Marina, said Brad Brown, the firm's vice president and development director.
Arizona-based Shamrock Holdings LLC, owned by Pat O'Malley, bought the community from Whitehouse Cove LLC, the real estate firm Marcus & Millichap announced Friday.
The success of Whitehouse Cove helped attract a buyer interested in investing in signature properties, Brown said. The community leases the lots to residents who own custom manufactured homes built to community standards.
Robert Brown & Associates also focuses more on retail shopping centers than residential properties, Brown added. The firm has the Farm Fresh-anchored Poquoson Shopping Center in its portfolio, for instance.
Whitehouse Cove, the redevelopment of the old Poquoson Marina site, opened in 2012 in a revised plan after the developer hit roadblocks in getting approval for condos. In 2006, Robert Brown & Associates pitched building condos, carriage homes and townhouses in place of a mobile home park that had been at the site.
Daily Press archives contributed to this report. Bozick can be reached by phone at 757-247-4741. Sign up for a free weekday business news email at TidewaterBiz.com.