Press Releases
Marcus & Millichap Brokers $8.065M Sale of Manufactured Housing Portfolio in Morganton, North Carolina
February 26, 2026
MORGANTON, N.C., Feb. 26, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a three-property manufactured housing portfolio in Morganton, North Carolina. The portfolio sold for $8.065 million, equating to approximately $67,500 per lot and representing one of the highest prices per pad recorded in Morganton.
“This was a multi-park transaction with three smaller parks, but through persistent collaboration between buyer and seller, we were able to bring the portfolio to a successful close,” said Glenn Esterson, senior managing director investments in Marcus & Millichap’s Charlotte Uptown office. “The transaction reflects continued investor demand for well-located, scalable manufactured housing assets and the importance of having long-term relationships on both sides of the deal. I am very grateful for the opportunity to work again with both the buyer and seller and congratulate them both for a job very well done.”
Esterson represented the out-of-state seller and procured the local private buyer in the off-market transaction.
The portfolio comprises three manufactured housing communities totaling 120 lots in Morganton. The properties are located in close proximity to one another and were approximately 90% occupied at the time of sale. The communities feature a mix of public and private water and sewer systems and consist primarily of older-vintage homes.
“This was a multi-park transaction with three smaller parks, but through persistent collaboration between buyer and seller, we were able to bring the portfolio to a successful close,” said Glenn Esterson, senior managing director investments in Marcus & Millichap’s Charlotte Uptown office. “The transaction reflects continued investor demand for well-located, scalable manufactured housing assets and the importance of having long-term relationships on both sides of the deal. I am very grateful for the opportunity to work again with both the buyer and seller and congratulate them both for a job very well done.”
Esterson represented the out-of-state seller and procured the local private buyer in the off-market transaction.
The portfolio comprises three manufactured housing communities totaling 120 lots in Morganton. The properties are located in close proximity to one another and were approximately 90% occupied at the time of sale. The communities feature a mix of public and private water and sewer systems and consist primarily of older-vintage homes.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
