A fence was installed at the Fry’s Electronics property on Northgate Boulevard in January 2021./ NatomasBuzz.com Photo
BY BRANDY TUZON BOYD
THE NATOMAS BUZZ | @natomasbuzz
A Southern California-based commercial real estate company has plans for the former Fry’s Electronics store site in Natomas, according to Mayor Pro Tem Angelique Ashby.
Ashby announced that Cruzan Co. has plans to purchase the 10-acre site located at 4100 Northgate Boulevard during the 16th annual State of Natomas last week.
Ashby said plans are to redevelop the site with industrial tech and “lots of jobs.”
Formed in 2002, Cruzan is a real estate development and investment firm which focuses on office and industrial properties, according to the company’s profile on Linkedin. It has reportedly acquired and developed projects totaling nearly $1 billion in asset value.
The company’s portfolio includes several properties throughout Southern California as well as one in Portland, Ore. and several in Beaverton, Ore., according to the company’s website.
Ashby said Cruzan plans to replace the vacant Fry’s Electronics store with a project similar to a commercial industrial development proposed for Duckhorn Drive in Natomas.
Cruzan’s plans are to use the existing building and construct a second building on the property, Ashby said. Sources tell The Natomas Buzz the project would total more than 260,000 square feet.
Telephone messages and emails sent to Cruzan representatives were not returned at press time.
After months of dwindling stock on its shelves and a temporary closure following looting in June 2020, the Fry’s location in Natomas appeared permanently closed in December when signage was removed from the building. Two months later, on Feb. 24, Fry’s Electronics announced it would shutter all of its locations permanently “as a result of changes in the retail industry and the challenges posed by the COVID-19 pandemic.”
Fry’s was founded in 1985 in Sunnyvale, California as a one-stop-shopping option for the hi-tech professional. The Natomas location previously operated as an Incredible Universe store until it was sold to Fry’s in 1997 for $7 million, according to real estate records.
The 4100 Northgate Boulevard property is not currently listed for sale. It is valued at nearly $12.5 million, according to Sacramento County property tax records.
Signage at the Fry’s Electronics store in Natomas was recently removed. / NatomasBuzz.com photo
[…] The project is very similar to one proposed a year ago by Southern California-based commercial real estate company Cruzan Co. […]