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| One of 11 Cabela locations in $324 Million Sale-Leaseback Deal |
NEW YORK, NY – B+E, the first brokerage and technology platform for net lease real estate, announced that it has brokered a sale-leaseback transaction for 11 Cabela’s locations for $324,335,000.
“Leveraging the largest dataset in net lease real estate, B+E delivered multiple, qualified buyers for Cabela’s to choose from,” said Camille Renshaw, CEO of B+E. “We are very excited to have closed what we believe is the largest commercial real estate sale ever brokered by a digital platform.”
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| Camille Renshaw |
The buyer is a Sansome Pacific joint venture, and the seller is Bass Pro Shops, which merged with Cabela’s in 2017. The sale-leaseback term is 25 years.
B+E uses artificial intelligence combined with senior people to track the most active buyers in the real-time, net lease market, much as stock and bond software tracks institutional investors. The algorithm evaluates a buyer’s past purchases, as well as current acquisition criteria and dollars raised that must be allocated within a given year.
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| Scott Scurich |
Co-founders Camille Renshaw and Scott Scurich were previously traditional net lease real estate brokers then later joined Ten-X, a Google Capital company. They launched B+E in 2017, and past experiences from both street brokerage and CRETech have influenced the technology that B+E continues to develop.
About Cabela’s/ Bass Pro Shops
Bass Pro Shops is North America’s premier outdoor and conservation company. Founded in 1972, when avid young angler Johnny Morris began selling tackle out of his father’s liquor store in Springfield, Missouri, today the company provides customers with unmatched offerings spanning premier destination retail, outdoor equipment manufacturing, world-class resort destinations, and more.
In 2017, Bass Pro Shops acquired Cabela’s to create a “best-of-the-best” experience with superior products, dynamic locations and outstanding customer service.
Bass Pro Shops also operates White River Marine Group, offering an unsurpassed collection of industry-leading boat brands, and Big Cedar Lodge, America’s Premier Wilderness Resort.
Under the visionary conservation leadership of Johnny Morris, Bass Pro Shops is a national leader in protecting habitat and introducing families to the outdoors and has been named by Forbes as “one of America’s Best Employers.”
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| John L. "Johnny" Morris and mentor, father John A. Morris |
Bass Pro Shops also operates White River Marine Group, offering an unsurpassed collection of industry-leading boat brands, and Big Cedar Lodge, America’s Premier Wilderness Resort.
Under the visionary conservation leadership of Johnny Morris, Bass Pro Shops is a national leader in protecting habitat and introducing families to the outdoors and has been named by Forbes as “one of America’s Best Employers.”
Contact:
John Vita
John Steven Vita Communications
847/853-8283
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