(Oroville) Coldwell Banker Commercial DuFour Realty has announced the sale of the 580 acre Kanaka Hydro Electric Power Plant property east of Oroville. The stunning tract of land along the Sucker Run Creek watershed near Feather Falls, was purchased by an investor for an undisclosed amount of money.
The property is leased to the STS Corporation, which operates a 1.3 megawatt power plant on the site under the management of Northbrook Energy, LLC. STS is a subsidiary of Energy Investors Fund, which has a portfolio of independent power and utility assets worth over $15 billion.
The purchase marks the end of an era for the Spight family under the leadership of patriarch Richard "Dick" Spight, the former owner who developed the land and the Kanaka Hyrdo project in the 1980's.
The listing and sale were handled by Mike Donnelly of Coldwell Banker Commercial DuFour Realty, who used unique web based video technology to help educate potential buyers about the extraordinary features of the offering. The buyer was represented by David Black of Table Mountain Realty. Angie Mastelotto of Mid Valley Title in Oroville handled the Escrow.