Foreclosures Continue To Surge

The Sacramento Bee reports California foreclosures last quarter numbered 63,061 -- the most in any one quarter since 1988 when records started being kept.

California Closin'

The California Home Furnishings store on Del Paso Road is closing its doors to retail and will only sell wholesale. Owners of the Natomas store are selling everything as a result.

The end result? Some good deals and another empty building. 'Nuff said.

Another One Bites The Dust

The Promenade shopping center just can't hold onto 'em...

First, it was L&L Hawaiian BBQ, then it was Johnny Rockets and now the Starbucks is slated to go according to an article in the Sacramento Business Journal.

As much as we love coffee, we have to admit having -- what, SEVEN? -- Starbucks within the immediate area is a bit much. So we're not surprised at least one Natomas store is on the chopping block.

Developers take note: The neighborhood can only support so many coffee shops -- chain or otherwise. Something to keep in mind.

A full list of closures can be found here.

Because Some Things Just Bear Repeating

sacrealstats.blogspot.com

Coming out of the Natomas Landing meeting yesterday afternoon, some NATOMAS BUZZ readers asked us what we thought about the proposed project.

Last time THE BUZZ posted an item on the Natomas Landing proposal was back in February.

At the time we referred our readers to a blog about Sacramento real estate statistics and specifically to a photo log (scroll down to see all the pictures) of empty commercial and retail space located throughout the Natomas area.

Since February several businesses in the neighborhood have closed -- adding to the amount of available square footage in our area. And with the state of the economy now -- think Linens N Things, BORDERS and Starbucks -- it's anyone's guess what will still be open this time next year.

When Doug Ose was asked yesterday whether any "letters of intent" had been received from retailers interested in the Natomas Landing site, the answer was "no." While we understand the drive to get a project in the works before the flood-related building moratorium goes into effect, we don't think it's necessary.

THE BUZZ and family moved to Natomas in 2001. In less than a month, we'll have lived here almost seven years in the same single-story house. When we moved in, we did our grocery shopping at Bel Air on West El Camino. We preferred driving to Target on Riverside rather than down the street to Walmart. The Costco on Exposition was the closest warehouse store.

Look at the neighborhood now! Not only do we have three major grocery stores to choose from, there is a Sam's Club, a Target and numerous family-owned eateries! Sure, it would be great to have a Trader Joe's down the street, but to date the grocery chain has no plans to build in our area...

So what do we honestly think about the Natomas Landing project? And building retail on the neighboring Tsakopoulos property?

In the words of one NATOMAS BUZZ reader, "We can survive with what retail (and retail space) we have now. So let's take a deep breath and reevaluate after the moratorium."

It's Happened: Curtains Close On Anna's

Our fears have been realized:A sign on the door reads "Officially Closed."

On that same note: Don't miss out on the liquidation sale at Linens N Things.

It's Hard To Be Hip

THE BUZZ just learned that one of our fave Natomas-owned and operated businesses -- Sunshine's Hip Baby children's clothing boutique -- closed its shop next door to Jack's Urban Eats last weekend.

But Sunshine herself says loyal shoppers should not fret. Hip Baby still operates as an online store and, better yet, offers free shipping to its customers!

The List Keeps Getting Longer

More casualties of the local economy...

Lollicup
Butterfly Life
Natomas Pure Water

Want a complete recap of all the North Natomas business corpses? Click on the "economy" tag below.

Lost In Space

A reader reports to THE BUZZ the Johnny Rockets restaurant in the Promenade, located across the street from Target, is: gone, gone, gone.

Are Curtains Closing On Anna's?

Anna's Linens (on Northgate) ads were 30% off everything in the store, then a week later 50% and now 70%...

Aloha, Oy

"Love; greetings, farewell; from such a pain you should never know."

More than one reliable source has told THE BUZZ that one of our favorite restaurants -- L&L Hawaiian Barbecue in the Natomas Town Center shopping center (think, Safeway)-- has closed.

We're told: "There is a big fat eviction sign on the door!"

With the previous closures of the L&L in the Promenade at Gateway Sacramento and Ohana Hawaiian Barbecue in Natomas Marketplace, only one Hawaiian-style eatery remains in North Natomas.

That's the L&L Hawaiian Barbecue joint on Northgate, for those of you keeping track.

Which Do You Want First?

OK, I've got some good news and some bad news...

Bad news first:

A source tells THE BUZZ the Quiznos restaurant in the Natomas Marketplace has c-l-o-s-e-d for business. Seems like just last week a sign spinner was standing at the shopping center's entrance advertising their sandwiches.

Could Subway's $5 deal taken a toll on the franchise? Did the promise of a La Bou just down the street scare them out of business? Or was there just not enough sandwich eaters in North Natomas to support two Quiznos (there's another one in the Safeway shopping center) locations so close together?

On a positive note:

THE BUZZ has been told by a reliable source that a Mathnasium franchise is set to open in the Park Place shopping center sometime in July.

Mathnasium -- a math tutoring and learning center -- is slated for the spot formerly occupied by Cingular Wireless. Currently, the franchise has locations in Fair Oaks, Folsom and Roseville.

This Record Doesn't Spin Anymore

Not So Hot, Dawg...

According to a BUZZ reader, it looks like Hot Dog Music near Safeway has closed.

"I happened to walk by it on Friday during their normal business hours and the door was locked with no one inside," writes in Paul Johnson. "Posted on the door is a notice of abandonment from Lewis (the property owners). All the CDs on the shelves are gone and very little of the counter stock is left."

Hot Dog Music was a relatively brand-new record to the neighborhood. Most recently, it was voted one of KCRA Channel 3's top 5 record stores.

Hot Dog Music prior to its closure.

Linens N Things To Close

A reader alerted us to this article in today's Sacramento Business Journal that concerns another North Natomas retailer:

"Home furnishings retailer Linens 'N Things filed for Chapter 11 bankruptcy protection Friday and said it will close 120 underperforming stores as part of its restructuring, including its store in North Natomas and 26 other California locations."

La Bou Is Coming!

Update: It's official... the La Bou banner now hangs where the Arena Grill & Waffle House sign used to be posted!

So THAT'S the kind of remodeling they're doing over at the Arena Grill & Waffle House.

As previously reported on THE BUZZ, the popular breakfast and lunch spot had closed for business a few weeks back with only a explanation being a sign on the door that the eatery was being "remodeled."

Earlier today, we spied workers taking down the restaurant's marquee and more than one reader has written in that a sign on the door says "La Bou coming soon."

Upgrade!

Another Natomas Builder Files For Bankruptcy

Kimball Hill Home projects in the Sacramento Region.

Yet another builder with ties to Natomas has filed for bankruptcy protection, according to the Sacramento Business Journal and Sacramento Bee Business Section.

Seen In The Neighborhood: Foreclosures Soar

The Sacramento Bee is reporting Sacramento-area foreclosures set a new record during the first quarter of 2008.

It comes as no surprise that loan defaults have neared 10,000 during the months of January, February and March from Amador to Yuba counties.

One doesn't have to look far in our own neighborhood to see evidence of this trend.

Foreclosure Workshop Set For Regency Park

Councilmember Ray Tretheway, the Sacramento Housing and Redevelopment Agency and the Sacramento Regional Partners in Homeownership will host a foreclosure and mortgage default prevention workshop 6:30 to 8:30 p.m. at Regency Park Elementary School on Wednesday, April 23.

Representatives from local and national banks and lending institutions, along with home loan and credit counselors will provide one-on-one advice and crucial information on preventing mortgage defaults and foreclosures. For more information, call 264-1500.

Disappearing Like Hot Dogs At A Rivercats Game...

Update: A sign on the door says the restaurant is "Closed for Remodeling." No visible remodeling is taking place...

It looks like Arena Grill & Waffle House on Truxel has closed despite being a favorite breakfast and lunch spot for Natomas-area residents.

You might recall the Inderkum Cafe previously occupied the same spot.

Husband and wife team Quan Tran and Huong Nguyen took over the restaurant in 2005-06 and changed the eatery's format to compete with other area dining spots.

Sadly, another local business bites the dust.

Aloha Means Hello... And Good-bye

Word came to THE BUZZ yesterday that Ohana Hawaiian BBQ in the Natomas Marketplace shopping center has closed.

That 's the second Hawaiian-style eatery in the area to shut down within the last year (an L & L restaurant near Center Court closed a few months back).

Mahalo for giving it a shot here in Natomas -- the Ohana will miss you!

Mahalo = Thank you
Ohana = Family

One Picture Is Worth A Thousand Words

Kinda says it all, doesn't it?