Lakewood Village Mobile Home Park has a new owner
Jim Lustumbo is retiring after owning the site since 1986
Photos by Ginny Kropf: The sale of Lakewood Village Mobile Home Park to a Los Angeles-based investment firm was announced Tuesday.
MEDINA – A change in ownership was announced at Lakewood Village Mobile Home Park this week.
Jim Lustumbo, who has owned the park since 1986, has decided to retire and sold the park to Pinnacle Investment Firm from Los Angeles. The sale was effective Tuesday.
Lisa Villareal, one of three members of Pinnacle Investment Firm, spent several days in Medina, getting familiar with the park and orienting personnel on running the site.
Lois Austin will remain as onsite park manager, while Danny Dunn will continue to do maintenance.
“You are going to see a smooth transition,” Villareal told a handful of residents who attended a meeting Tuesday at the park.
Pinnacle Investment Firm owns mobile home parks in Texas, Missouri and Alabama, but this is their first 55-plus park, Villareal said.
“Things seem to be running smoothly here, and we want to keep it that way,” she said. “We don’t want to change management style.”
In a letter to all park residents, the new company said they were extremely excited to get going and look forward to providing exceptional management, including prompt maintenance service, as well as maintaining a safe and enjoyable place to live.
Jim Lustumbo discusses the sale of Lakewood Village Mobile Home Park in Medina with Lisa Villareal with Pinnacle Investment Firm of Los Angeles, who took over as new owners as of Sept. 1.
Lakewood Village was developed by Barbara Waters and her sister, the late Marcia Tuohey, in 1970. They eventually sold it to Frank Pavia, who was Jim Lustumbo’s uncle. The Lustumbos lived in Rochester, and when Jim inherited the park from his uncle, he and his wife Margaret moved to Medina and have run the park ever since.
Jim Lustumbo poses with Lisa Villareal from Pinnacle Investment Firm after announcing the sale of the park to the Los Angeles-based company.
Jim said he loves the park, but health conditions have convinced him it was time to retire.
“I’ve had two heart attacks, the last one in January,” he said. “What I’ve loved most is the people.”
He and Margaret will continue to live in the park and operate the storage buildings. They have bought a new camper and plan to spend much of their time camping.
“That’s something I’ve always wanted to do, but haven’t had the time,” Jim said.
Since taking over the park, the Lustumbos have added nearly 30 new mobile units and developed the area on the north side of the lake.
Lakewood Village now has 150 residents, Jim said.
