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Aerospace Manufacturer Divests Cameron Park Headquarters
Marcus & Millichap finalized the sale of Snowline Engineering’s headquarters, a 33,183-square-foot industrial property located at 4261 Business Dr. in Cameron Park. The asset sold for $5,350,000.
“My clients owned both the real estate and the business, Snowline Engineering, an aerospace and defense manufacturer,” said Mark Hefner, SVP of investments in Marcus & Millichap’s Sacramento office. “We succeeded in executing their strategic plan: to monetize this real estate at a strong price, while securing a long-term leaseback on the headquarters upon favorable, but market-based terms.”
Hefner marketed the property on behalf of the seller, Reynolds Family Trust. David Campbell, senior managing director with Marcus & Millichap Capital Corporation, advised both the buyer and seller.
“Through our competitive bidding process and platform, we secured eight bona fide offers,” Hefner added. “The successful bidder, Can-Windoor Hardware USA LLC, is Canadian and made this their first U.S. CRE acquisition.”
- ◦Sale/Acquisition
