Bass Pro Shops sells 11 Cabela’s stores for $324.3m
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Eleven Cabela’s locations have been acquired for $324.3 million in a joint venture deal led by San Francisco real estate investment firm, Sansome Pacific.
Cabela’s, which was purchased by Bass Pro Shops in 2017 for $5.5 billion, will continue to operate the stores under the sale-leaseback deal.
The 11-property portfolio spans 1.6 million square feet, although the specific locations have not yet been disclosed. The deal was brokered by B+E Real Estate, which says it is the largest transaction ever brokered by a digital sales platform.
The merger of Cabela’s with Bass Pro Shops, together with the latter’s boating division, White River Marine, brought together three of the nation’s leading outdoor brands. The combined portfolio at the time totalled 184 stores in the US and Canada.