The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Nov 16, 2016
Lee Meekcoms, managing partner of Clearwater, Florida-based Parkbridge Capital Group, a real estate investment advisor, assisted a California-based company in its first Florida acquisition.
The 464-lot Whisper Creek RV Resort in LaBelle, Florida was purchased for $11,750,000. The buyer, Granite Whisper Creek, LLC, followed Meekcoms’ direction into this popular sector of the real estate investment market. The Seller was Whisper Creek, Inc., a private owner with the property as its sole asset.
“This investment for the Whisper Creek property was a significant opportunity,” Meekcoms says. “The resort is a high quality, desirable property, inland from Ft. Myers, in an area that is poised for substantial growth. The investor’s plan for the property is to maximize its cash flow while enhancing value by adding popular 'park-model' homes (resort cottages) in the park."
Meekcoms has acted as an advisor in RV resorts and mobile home parks containing more than 11,500 lots in Florida. Whisper Creek is one of many that have sold this year. Carefree Communities’ 35 property Florida portfolio of RV resorts and mobile home parks sold to Sun Communities earlier this year, for $1.68 billion.
Meekcoms says that these properties provide an affordable living environment to the tenants, while providing strong cash flows and growth of capital to the investor. The demand for these types of properties in the Sunshine State is nearly endless, Meekcoms says. He cites, as an example, a group of four parks that may find their way into the portfolio in the next several months. Significant investor interest in mobile home parks and RV parks continues to thrive into the foreseeable future.