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One of State's Largest RV Parks Drives $9.4-Mil Sale

CASA GRANDE, AZ-Fiesta Grande RV Resort is the seventh park in the state for buyer Diversified Investments of Bethesda, MD. The price hinged upon the spot, with 581 spaces drawing $7.5 million and 186 raking in about $1.9 million for the LP seller.

By D.J. Burrough | Updated on October 25, 2001

CASA GRANDE, AZ-One of the state’s largest RV parks has changed hands in a $9.4-million transaction between a Bethesda, MD-based buyer and the LP owner for the past seven years.

Diversified Investments, headed by CEO Barry Hasse spent $7.5 million for the 581-space first phase of Fiesta Grande RV Resort and about $1.9 million for the 186-space second phase. The first phase’s sale price was based on the income per space, says Jon Harrison, a broker in the Tucson office of Marcus & Millichap, who represented the seller, Fiesta Grande LP, headed by Joe O’Neal. The second phase, bringing roughly $10,000 per space, is just two years old and has fewer permanent occupants.

The Casa Grande park is the seventh RV park in Arizona for Diversified Investments, which owns more than 20 in the Sunbelt. Casa Grande is located about 30 miles south of Phoenix. Fiesta Grande RV Resort is situated at 1511 E. Florence Blvd., the town’s main street. The park is in the business district and just a few blocks from Wal-Mart.

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