It’s Not Gonna Happen…

Natomas residents looking forward to a Sonic in the neighborhood are going to have to look elsewhere for the drive-in’s popular burgers…

The Sac Biz Journal this morning is reporting that KOBRA, the developer of the defunct Sonic and TGI Friday’s construction site in Natomas, has filed for Chapter 11 protection and abandoned 16 developments, including the one in Natomas, off Truxel and North Freeway.

While it’s not a surprise to THE BUZZ, who previously reported the stalled construction, it’s still a real bummer to hear this news. Not only is Natomas racking up empty store fronts, but now the list of unfinished construction projects is getting longer, too.

An excerpt:

Some of the properties Kobra will abandon already have been placed with court-appointed receiverships at the request of lenders, such as the 76,000-square-foot second phase of the Laguna Creek Shopping Center on Bruceville Road, and Placer Corporate Center, an unfinished, 88,000-square-foot project at Sunset Boulevard and Highway 65. Construction was halted last winter at the Placer site, which consists of 10 buildings that lack roofs, windows and doors.
Other properties the company plans to abandon to lenders include 144 acres in Roseville, Natomas, Rocklin, the 63-acre Loomis Marketplace project, 68 acres of residential development land in Newcastle and Auburn, an unfinished TGI Friday’s restaurant in Lincoln and other potential restaurant sites. The outstanding loan balance of those properties is $78 million.


  1. Is it possible for the City of Sacramento to condemn the property and tear down what little work has been done?

    More than an eyesore, it will encourage vandalism.

  2. Bummer, I was looking forward to having a Sonic that was closer.

  3. I stopped waiting for that Sonic to open 2 years ago. That corner near Target is such an eyesore! Can they at least take down the “Coming Soon” signs?

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