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Sacramento Business Journal
Amazon finds its growth groove again in Sacramento area
After a year of retrenching and reflection following the ebb of its pandemic growth, Amazon appears to be growing again.<\p> Amazon.com Inc. CEO Andy Jassy said in May during the company's annual shareholders meeting that Amazon would be using its cash hoard to invest in its cloud services and retail, rather than paying dividends.<\p>
Sky River Casino officially announces hotel plans. See the details.
Sky River Casino is planning on breaking ground on a new hotel next year. <\p> The Wilton Rancheria and Boyd Gaming Corp. unveiled the next phase of their expansion plans for the casino Friday. Plans include constructing a 1,600-stall parking garage, adding 400 new slot machines, and building a 300-room hotel and event center. <\p>
This Arden property doubled in value in seven years. Here's how.
Seven years after it last sold, an apartment property more than half a century old has seen its value double with a new sale.<\p> Records show M. Designs Investments, based in Palo Alto, recently closed escrow on the 105-unit, single-story property called Parkwood Square Apartments in Arden-Arcade.<\p>
Area's one remaining Red Lobster restaurant may close
Red Lobster, the seafood restaurant chain that filed for bankruptcy earlier this spring, plans to close dozens more restaurants unless it can renegotiate leases with landlords — and the list of threatened shutdowns includes its one remaining location in the Sacramento area.<\p> The first round of closings, announced when Red Lobster filed for Chapter 11 bankruptcy protection in May, included a local site on Howe Avenue in Arden-Arcade. That restaurant has closed, and its equipment was sold in an online auction last month. <\p>
There are more details on the Vrame embezzlement case
A release by the California Attorney General's office provides more details about the sentence for developer Chris Vrame, who pleaded guilty earlier this week in Sacramento County Superior Court to two counts of embezzlement.<\p> According to the release, Vrame's sentence includes 364 days in jail and $30,000 in fines, in addition to two years of felony probation.<\p>
Bain Capital to pay $5.6 billion to take Folsom tech company private
Folsom-based education software company PowerSchool Holdings Inc. has agreed to be acquired by Bain Capital LP in a deal that values the company at $5.6 billion.<\p> PowerSchool (NYSE: PWSC) shareholders will get $22.80 per share at the close of the proposed transaction, expected in the second half of the year.<\p>
5 things: Big pickleball tournament underway in Roseville
Welcome to Friday, loyal readers. It's National Donut Day. Here are your local business headlines.<\p> Want more local business headlines? Sign up for our morning and afternoon newsletters to get Sacramento business news delivered straight to your inbox.<\p>
A new benefit is available to Calling All Dreamers participants
A collaboration between Anthem Properties and the Downtown Sacramento Partnership will provide past participants in the Calling All Dreamers business competition with unique perks to help them open up shop in the city's core.<\p> Real estate developer Anthem Properties completed the Envoy project at the corner of J and 11th streets last year. The seven-story building features 153 apartments and approximately 10,000 square feet of ground floor-retail space. <\p>
How this company wants to change the recycling center model
At a lease signed for a location in Fair Oaks, a Sacramento-based company wants to redefine the feel of recycling centers.<\p> California RVM Solutions is debuting its first reverse vending machine in a nearly 5,000-square-foot building that used to be a Chase Bank branch at 4802 San Juan Ave.<\p>
Arden Fair is changing up its management and leasing team
Arden Fair is changing, with two large anchor spaces vacant and ownership working behind the scenes to reenvision the mall. A new management team could help in that effort.<\p> Management and leasing at the mall is currently being overseen by real estate investment trust Macerich, one of the largest owners and operators of shopping centers across the U.S. The owners of Arden Fair are replacing the current management company with Dallas-based Centennial, which effective June 17 will provide services such as property management, leasing, marketing and accounting for the property.<\p>
Longtime executive leader at VSP Vision steps down
Kate Renwick-Espinosa has left VSP Vision, after a three-decade career with the Rancho Cordova vision care company. <\p> Renwick-Espinosa, who had served as president of VSP’s insurance arm VSP Vision Care since 2015, confirmed her departure in a LinkedIn post Thursday. <\p>
Pocket area shopping center attempting to evict Shari's restaurant
The landlord of a Pocket-area shopping center is attempting to evict one of its restaurants, alleging the tenant has failed to pay rental obligations for the past several months.<\p> Shari's, a family-style diner chain, operates at 960 Florin Road in Sacramento's Lake Crest Village shopping center. The Oregon-based restaurant chain has more than 70 locations listed on its website, with the majority in the Pacific Northwest. The diner offers breakfast, lunch and dinner items, which it describes as Northwest comfort food, as well as a variety of pies.<\p>
How Sacramento County plans to speed up project reviews
Sacramento County is working to speed up approvals of infill and housing projects, with a slew of measures approved earlier this week as part of a new county ordinance.<\p> Some of the measures will take effect by late summer, while others will take until late 2025 to go into effect, said county Planning Director Todd Smith.<\p>
Here's how an embezzlement case for a developer was resolved
Three years after being charged with misspending funds in a real estate investment, developer Chris Vrame has pleaded guilty to two counts of embezzlement.<\p> Vrame, co-founder at Sierra Holdings LLC, received a sentence of probation and home detention as a condition of pleading guilt, said his defense attorney, William J. Portanova.<\p>
5 things: Here's when Dunkin' could open store near Placerville
Welcome to Thursday, loyal readers. After recently closing its remaining Sacramento-area locations, Rubio's Restaurants Inc. has filed for Chapter 11 bankruptcy as a step toward selling the business.<\p> Here's what else you need to know today.<\p>
Political consultant who 'ran Placer County' dies at 66
Aldo Pineschi Jr. was one of the most powerful people in Placer County — but you probably wouldn't know it, according to his friends and colleagues.<\p> Former Roseville Mayor Carol Garcia remembers Pineschi wearing a baseball cap and sitting inconspicuously in the City Council chambers. An outside observer might never guess that Pineschi was an influential political consultant — and, in Garcia's words, a man who "ran Placer County."<\p>
The National Observer: Sign of reversal seen amid loan delinquencies
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today we've got stories on a decline in asking prices in the housing market, a shift in consumer-spending habits and changes coming to Cracker Barrel restaurants. But first, we go inside the numbers on still-rising delinquencies among loans backed by commercial real estate.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
This co-housing project is ready to open in West Sac
Outside Anne Geraghty's future home in West Sacramento, the common space is big enough for her to put out a chair or two and greet visitors, but also just far enough from the stairs and elevator that she's got a bit of privacy.<\p> As one of the founders for the co-housing project called Washington Commons, that scenario is by design: a natural way to commune with neighbors, with the ability to still do your own thing.<\p>
Elk Grove startup is in Berlin telecom incubator
Elk Grove startup Tiami Networks is in the Deutsche Telekom AG Hubraum technology incubator program in Berlin, where it's set for a demonstration day in August.<\p> Incorporated as Tiami LLC, it launched in 2022 and it is working on multiple avenues of signal-processing technology, but for the Hubraum competition, it is in a Wi-Fi Sensing cohort.<\p>
Here's how much homelessness has declined in Sacramento County
There has been a drop in the number of people experiencing homelessness in Sacramento County over the last two years, new data show. <\p> On Wednesday morning, homeless services nonprofit Sacramento Steps Forward released the results of its latest Point-In-Time Count, a census of the county’s homeless population taken in January. <\p>
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