South Bay Land Deal Collapses Amid Coronavirus Crisis: Report

GILROY, CA — A South Bay land deal worth over $100 million that included Gilroy Foods & Flavors has fallen through as a result of the economic impact of the coronavirus crisis, The San Jose Mercury News reports.

Mesirow Financial had to back out of the deal amid market uncertainty amid the coronavirus crisis, the report said.

The Chicago-based firm had agreed to buy six separate parcels totaling 174 acres in the area at and around the Gilroy Foods site on State Route 152 for $110.3 million, according to the report.

Mesirow had struck a deal with Olam West Coast, a Fresno-based company in December of last year included a revenue-sharing agreement from the agricultural facility.

Read more in The San Jose Mercury News