Oct. 02--Campbell Soup Co. has found a buyer for its shuttered plant in south Sacramento, although the deal hasn't been completed and the prospective buyer's identity isn't known.
The 700-employee plant, a blue-collar mainstay of the Franklin Boulevard neighborhood for decades, closed this summer after Campbell shifted production to plants in other states.
Voit Real Estate Services first reported, in a quarterly report on market conditions, that the 1.6 million square foot facility is in escrow. The report was confirmed by Sacramento County Supervisor Jimmie Yee, whose district includes the plant, and Barbara Hayes, executive director of the Sacramento Area Commerce and Trade Organization. Yee said the prospective buyer was continuing to work through a pre-sale inspection.
Campbell wouldn't confirm the report. "The process is ongoing and confidential," said company spokeswoman Carla Burigatto. "We've always said we intended to sell that property."
Hayes said: "It will be nice when there is resolution as to the ownership. Then we can really look ahead to marketing and putting people in there."
Garrick Brown, who follows the area market for Cassidy Turley real estate, said the site could be subdivided among multiple users. The modern buildings remain ideal for food processing, while some of the other facilities could be used for warehouse and distribution.
Brown said demand for distribution space is mushrooming as retailers follow the lead set by Amazon.com, which is building warehouses throughout the country to shrink delivery times.