A New Anchor in Industry
San Gabriel Valley Tribune - February 21, 2002
INDUSTRY -- A new Fry's Electronics is expected to generate millions
of dollars in tax revenue and serve as the anchor for a major 25-acre
commercial retail development near the intersection of the Pomona (60)
and San Gabriel River (605) freeways in Industry.
Fry's quietly opened for business on Wednesday at 13401 Crossroads
Parkway North in Industry as workers made final touches to the store's
facade and potential hires filled out applications.
The store anticipates generating $100 million in sales, which would
bring $1 million in sales tax revenue to the city, Industry Manufacturers
Council Executive Director Don Sachs said.
Industry receives about $25 million in sales tax annually from businesses
in the city.
Fry's will be a large sales tax generator, but more importantly it will
serve as an anchor to bring in other commercial uses, Industry City Manager
Phil Iriarte said.
The 144,000-square-foot store is the first piece of a 25-acre retail
section of the 110-acre Crossroads Business Park owned by Majestic Realty
Co. and billionaire developer Edward Roski Jr.
The business park also contains Majestic's corporate offices.
Roski, whose company built Staples Center, also is a minority owner of
the Los Angeles Lakers and Los Angeles Kings.
Fry's uses about half of the 25-acre lot, and Majestic also plans to
bring a gas station and a fast-food restaurant on the property, Majestic
Vice President of Development Rex Hoover said.
Majestic also owns an 11.5-acre parcel on the other side of Crossroads
Parkway and plans to bring in a retail store similar to Fry's, he said.
Fry's draws people from a greater distance, more like a regional mall
than other retailers like Home Depot or Wal-Mart, Hoover said.
The building is also a new prototype, the first in Southern California,
with a new building and themed interiors and exteriors, Hoover said. Other
Southern California Fry's stores were converted from existing buildings.
"Retailers are about the same size as their competitors," Hoover said.
"Here, Fry's is roughly three times the size of its next largest competitor."
The store has an industrial theme outside with gears towering over the
entrance and inside on display designs and a ceiling mural.
Fry's has 20 stores spread throughout California, Arizona, Oregon and
Texas, including the Industry location. The new store will have 250 to 275
employees, including many local hires and others transferred within the
company, said Manuel Valerio, Fry's community relations manager.
The new store appears to be a mixed blessing of sorts for its residential
neighbors.
Hacienda Heights Improvement Association President Michael Hughes said
Fry's is very well- known for competitive pricing on electronics, which
he's excited about.
"But we don't need the traffic," he said. "That whole area is a mess
now and this is going to compound it."
Rodney Tanaka
Staff Writer |
