One of Stanislaus County’s Best Buy stores is closing. Here’s why, when it will shut down
Best Buy plans to close one of its two Stanislaus County stores just before the holiday rush starts.
The national home electronics and media retailer will close its store in the Riverbank Crossroads shopping center after 13 years in the location. The company moved into the 30,000-square-foot space in 2008, a few years after the shopping complex at the corner of Oakdale and Claribel roads opened.
Best Buy’s last day will be Oct. 29, according to company spokeswoman Olivia Bruce.
“We will not be renewing the lease on our Riverbank store and have no plans for other stores in the area in the near future,” Bruce said in a written statement about the closure. “While these are never easy decisions, this aligns with our regular and ongoing review process of stores as leases come up for renewal.”
The Riverbank Best Buy was the second location for the electronics seller in Stanislaus County. The first, off Sisk Road in Modesto, opened in 1999.
Last month, Best Buy corporate leadership announced additional layoffs across the national chain, on top of the 5,000 full-time layoffs it made last year.
Will Bettencourt, leasing representative for Browman Development Co. — which manages and operates Crossroads — said the closure comes despite reports the Riverbank location was profitable for the company. He said the electronics chain appears to be closing its smaller model stores, like the Riverbank site, while keeping its nearby larger ones open like the 45,000-square-foot Modesto site.
“It’s a bit of a bummer,” Bettencourt said. “Obviously we don’t like to see tenants close profitable stores.”
But he said Browman already is looking for a new tenant for the space, which sits between Petco and Sally Beauty. He said the company has fielded some interest and hopes to have a new contract signed by the end of the year.
The Best Buy vacancy will be one of the only openings in the otherwise full retail center. Crossroads finished work on its final undeveloped pad this year, when the new standalone El Pollo Loco opened across from Red Robin. The shopping center also recently saw the opening of a new Poke Bowl location.
One of its final other open spots, part of the Westamerica Bank, is expected to open by the end of next year as Nick the Greek. The chain of Bay Area-based Mediterranean restaurants will open its first Stanislaus County location at the site.
Even if a new tenant signs up for the Best Buy space right away, Bettencourt said not to expect a quick opening. He said it will take time to replace such a major tenant, and construction projects continue to be slowed by supply chain issues.
“Nothing these days is a guarantee. My guess is a new tenant wouldn’t open until middle of next year,” Bettencourt said. “That’s best case, because everything just takes a little bit longer than it used to.”
