Northmarq’s Baltimore office brokers sale of 159-lot manufactured housing community in southern Pennsylvania
BALTIMORE (Nov. 9, 2023) — Northmarq’s Baltimore office has arranged the sale of Big Spring Terrace, a 159-lot manufactured housing community located at 14 Big Spring Terrace in the borough of Newville in southern Pennsylvania. Situated in Cumberland County, the locality is 36 miles west of Harrisburg. The property sale was closed by Associate Anthony Pino and Senior Vice President Ari Azarbarzin, who represented the seller, Carlisle, Pennsylvania-based Big Spring Properties.
“The Mid-Atlantic through the Northeast region provides excellent opportunities for investment in the manufactured housing space,” said Pino. “We’re confident that Big Spring Terrace’s new owners will serve as excellent stewards for the community – and will build upon the legacy of the previous owners.”
The sale price and the identity of the buyer were not disclosed. Pennsylvania has the largest inventory of manufactured housing units in the Northeast. The current occupancy rate in the state is 93.7%. Set on 94 acres in a scenic environment, the all-ages community was built in 1975 and offers spacious sites, off-street parking and wide streets, as well as community activities, extra vehicle storage and an on-site office and manager.
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