Major Retailer Invests in Downtown
The recent announcement by Sports Basement to enter the Downtown Sacramento market is a huge win for Downtown and a direct result of the work done by the Downtown Sacramento Partnership business recruitment program.
The Sports Basement, a Bay Area retailer, closed ecrow on 730 I Street on September 9. The 70,000 square foot building, which is currently vacant, will be home to company’s first store in Sacramento. When it opens next fall, the Sports Basement will rank behind Macy’s as the second largest retailer in the downtown district. The company is projected to create 70 construction jobs, 80 permanent jobs, and an estimated $800,000 in annual sales tax revenue for the City.
The sale of this underutilized property is a major win for Downtown and a direct result of DSP’s retail recruitment efforts over the past four years. In 2010, Turton Commercial engaged DSP to provide market research and a retail analysis to entice the company to locate Downtown. The Sports Basement originally placed a bid on the building at 730 I Street in 2011. But due to an aggressive expansion schedule, they needed to rescind their Sacramento offer with the intent to revisit the market. Recognizing the potential economic impact of this deal, DSP continued to pursue the retailer and worked behind the scenes to connect The Sports Basement with the City and County to consider a new offer.
Since 2011 73 new businesses have been recruited or assisted in opening their business downtown.
“This has been a long time coming and a sign of the positive momentum we are seeing downtown,” said DSP Executive Director Michael Ault. “We have been aggressively selling the value of investing in the urban core and companies like The Sports Basement are recognizing the opportunities in our market. We commend the leadership demonstrated by the City and County of Sacramento in making this deal happen.”
About The Sports Basement: The Sports Basement is a sporting-goods retailer with five locations in the San Francisco Bay Area. The company takes pride in selling the best brands at basement prices. Their stores are a are like a second home to local athletes and groups who use our space daily for club meetings, to host potlucks, to start a workout from our front doors, or to pick up some tips at a speaker series event.