Investment Overview

The Groves Mobile Home Community is a 61-site property located in Burkburnett, Texas. The space mix is comprised of 52 park-owned mobile home rentals, three single-family homes, six mobile home lot rents, and 18 storage units. They operate on city water and sewer which is billed back to the resident along with trash. Both electric and gas are billed directly to the resident. Approximately 8 miles south of the property is the Sheppard Air Force Base (AFB). It is the largest training base and most diversified in Air Education and Training Command. Over 60,000 Airmen and personnel from other military branches are trained at Sheppard AFB each year. As of 2023, this base is home to a total of 6,402 direct employees, of which 1,967 are active-duty military, national guard and/or reserve. This base also has nearly 3,500 military retirees accessing the installation, camp facilities and resources. The Texas Comptroller of Public Accounts estimates the population directly affiliated with the Sheppard Air Force Base contributed at least $3.2 billion to the Texas economy in 2023. Some of the recent developments in the area include: • October 2024: Amazon breaks ground on new $20 million facility in Wichita Falls. They expect to create 150 new jobs. • June 2024: DataNovaX, a build-to-suit data center provider, announced its first campus, a $1 billion Pioneer Park project in Wichita Falls. Phase 1 of the $1 billion investment property is expected to go live in December.