Sports Basement Plans Delayed But Still On Track

Sports Basement hasn’t forgotten Sacramento.

The retailer that committed $4.5 million for the former Bank of America Building at 730 I St. last November with plans to open a store there is still proceeding. It just takes a while.

As you may recall, the Business Journal reported in early November that Sports Basement was the sole bidder for the three-story, 70,000-square-foot building that Sacramento County had been trying to unload for years.

Four months of inspections and other due diligence were to follow, so the retailer could determine if it wanted to pump an additional $5 million into creating a store there.

Leaders with the city of Sacramento were excited about the new activity and sales-tax revenue that would be generated by a Sports Basement store.

“Sports Basement is moving forward,” said Ken Turton, the real estate broker who handled the Sports Basement deal.

The San Francisco sporting goods company expects to close escrow on the building this year and open the store next year, he said.

Sports Basement had given the county a $150,000 non-refundable deposit for the building, and had agreed to close escrow before July 13.

Now the retailer proposes to put down an extra $50,000 in non-refundable money in order to extend escrow to Nov. 9, according to a county staff report. Sports Basement will use that additional time for planning, permitting and securing financing for the building purchase.

The request for the extension goes to the Sacramento County Board of Supervisors on Tuesday.