The old Sacramento Army Depot, once home to the largest computer manufacturer in America and now an industrial park, has been sold.
The city of Sacramento sold the property to U.S. National Leasing of Sacramento for about $9 million, said Assistant City Manager John Dangberg. The price was based on a formula created in 1994, when the city acquired the south Sacramento depot from the federal government after the Army left, he said.
For several years, the city leased the property to Packard Bell Electronics, which enjoyed a brief reign as the nation’s largest computer manufacturer. The assembly plant was considered the nation’s largest PC factory.
Packard Bell imploded in 1999, however, and the city transferred the lease to U.S. National. The firm, an affiliate of Fischer Properties of Seattle, turned the property into a business park known as Depot Park.
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Dangberg said the 76 buildings are occupied by more than 100 tenants. An estimated 2,000 employees work at the park, he said.
“There’s window companies, tech companies, startup companies,” Dangberg said. Three state agencies have offices on the premises, too.
Dangberg said the city had been leasing the property to U.S. National for $1 a year, allowing the company to plow an estimated $50 million into revamping the buildings. The city decided it was time to get out.
“We achieved our economic development goals at the site,” he said. “We’re going to reinvest that ($9 million) in other things for the city of Sacramento.”
Call The Bee’s Dale Kasler, (916) 321-1066. Follow him on Twitter @dakasler.