Circuit City stores in the 1970s-1990s, the company accumulated a surplus of unused real estate with a presence in nearly every major market in the country. Although a typical retail location is approximately 30,000 square feet (2700 m2), the company had numerous freestanding and in-line locations ranging from 2,000 to 50,000 square feet (180 to 4500 m2), and had surplus office, service and distribution locations scattered across the country. During Circuit City's 2005 fiscal year (March 1, 2004 through February 28, 2005), the company disposed of approximately 1.2 million square feet (108,000 m2) of vacant retail space. In January 2007, Circuit City's vice president for real estate announced plans to open 200–300 stores in the next two years, a large increase from the current trend of 10–12 stores a year. Due to the economic conditions the company faced, they did not reach that goal. Many of these stores, however, did open in 2008 and operated for only a few weeks before closing. Some were built and never opened and upon the company's declaration of bankruptcy, it was discovered that large expenditures were due to paying leases on buildings that were not even opened to the public. In January 2010, the main Circuit City headquarters building was put up for sale. The five-story office building, "Deep Run I", had been appraised at $46.2 million. New York–based Lexington Property Trust defaulted on a $17 million commercial mortgage and the lender foreclosed on the property. The asking price was set at $11 million. The former headquarters was sold in September 2010, for $3 million to DRCC Properties, LLC. They also bought the of land that the building sits on for $2.75 million. See also A Tale of Two Cities: The Circuit City Story Best Buy CompUSA The Good Guys! Tweeter References External links Circuit City Official Website Circuit City @Amazon.com Storefront Circuit City Stores, Inc. History at FundingUniverse Circuit City 1949 establishments in Virginia 2009 disestablishments in Virginia American companies established in 1949 American companies disestablished in 2009 Companies based in New York City Companies formerly listed on the New York Stock Exchange Companies that filed for Chapter 11 bankruptcy in 2008 Companies that have filed for Chapter 7 bankruptcy Consumer electronics retailers in the United States Defunct retail companies of the United States Internet properties established in 2018 Online retailers of the United States Re-established companies Retail companies established in 1949 Retail