SANDY -- It sounds like a perfect fit for a large retail store: a building the size of three football fields with ample parking and easy access from I-15.
But the Sandy Incredible Universe building, a former showplace for shiny new appliances and whiz-bang home electronics, is finishing its second year without a tenant.The consumer electronics giant opened to great fanfare in November 1995, but it and the 16 other Incredible Universe stores run by Tandy Corp. lost $90 million in 1996. The Texas-based company decided to focus on its 7,000-plus Radio Shack stores, closing all of its Incredible Universes, including the Sandy store in spring 1997.
Since then, Tandy has rid itself of 16 of the enormous buildings. But not the Sandy location.
Ron Trumbla, senior manager for Tandy public relations, said he could not comment on why it has taken so long to sell the Sandy store.
"Right now we're in negotiations with several parties, but until we actually have a signed agreement, we can't make an announcement," Trumbla said. "When we made all of those early announcements of our plans, we had hoped to move as quickly as we could. But we can't always move as quickly as we'd like to."
Richard Coles, sales associate with Salt Lake commercial real estate brokerage firm CB Richard Ellis, said the building's 11100 Automall Drive location rates an "A-plus," since it is next to I-15 and just south of the 10600 South exit.
John D. Hiskey, Sandy's economic development coordinator, said Utah Department of Transportation plans to build another I-15 interchange at 11400 South by 2002 should make the location even more attractive.
And Coles said the size of the building should draw attention from large retailers.
"There are a few in the valley that have looked at it, looked at the exposure, looked at what the pricing is on it and have at this point elected to look at other sites," he said. "That's not to say they wouldn't come back to the (Incredible Universe) site."
Coles said the sale is complicated because the land on which the building sits was leased, not owned, by Tandy.
"That makes it a little difficult, but it is feasible to sell the building under the land lease and still make it a profitable situation for an investor," he said. "If an investor bought the building, it could be divided into four locations for different types of tenants with excellent freeway exposure . . . and they could belong to a group of elite tenants that are locating in that 106th South shopping area."
Coles said there may be six to eight retailers -- probably home improvement, furniture or large electronics stores -- that could take on the entire building, and another 30 retailers that could use the space if the building was divided into four sections.
Many of those possible tenants already have locations in the area, and they may be leary of the land lease, he said. But he remains confident that the building will find a tenant soon.
"We're noticing that the retailers nationally and internationally are eyeing Salt Lake," Coles said. "If they haven't already, they're getting close to moving in. And tenants that are already here are looking for in-fill locations to expand.
"That just gives you that feeling that somebody that needs a large facility and wants to be in an A-plus location will settle on a location like that."
Hiskey said he also is confident that a new tenant in the Incredible Universe building will add to Sandy's growth as a business center.
"The trend is definitely positive for this area," he said.