Hoping to take advantage of a hot real estate market, the nonprofit Lancaster County Health and Welfare Foundation has decided to sell its Manheim Township campus and dissolve itself.
The foundation was set up to manage the offices, which are leased to local nonprofits, some of which are also the foundation’s owners.
“The owner-agencies would like to get out of the business of managing a property, particularly while the market is strong for a sale,” said Maureen Maley, president of the foundation.
The owners are United Way of Lancaster County, Boy Scouts of America, family services agency Pressley Ridge and Mental Health America of Lancaster County. Each plans to use sale proceeds to advance their individual missions, officials said.
The 1960s-era building is fully occupied with 11 tenants, all nonprofits. In addition to the owners, tenants include the Arc of Lancaster County and Compass Mark, an addiction treatment center.
Some of the existing tenants may consider staying under new ownership, according to the listing. The property is being marketed for office, medical, professional and educational uses. It’s a few minutes from Lancaster, the city’s Amtrak station and Route 30.
The property currently generates about $120,000 per year in rental income after operating expenses, according to the brochure. That number could be higher under a new owner as current rental rates are below market rates to support the nonprofit renters.