During the downturn, The Kern Company ended up gaining possession of an RV park and flea market in Jacksonville, FL. The original plan had been to buy the land, redevelop it as a shopping center and sell, but at the time, no one was buying land. This left us stuck with declining businesses on the land that seemed doomed. Rather than giving up on this project, we took it on, full force. In the span of 10 years, we were able to turn the business around from a $150,000 NOI to a $700,000 NOI. Just this past year, 2016, the RV Park sold to Sun Communities.
We are looking for new properties for this very use and are planning to acquire up to 10 in the next year. Our funding is assembled and we are willing to work with an existing park or a ground-up development. If you believe that your property would be the perfect space for an RV Park, we would love to hear from you.