Colorado-based Ultimate Electronics has signed a lease to enter the Tucson market moving into the former Circuit City store at 4380 N. Oracle Road, just south of Tucson Mall.

The privately-owned Colorado-based retailer has been in business for more than 40 years and has 32 locations in nine states, including six stores in the Phoenix area.

Company officials have not announced when they anticipate opening the Tucson location.

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Ultimate Electronics says its provides a comprehensive selection of name brand consumer electronics with an emphasis on innovation and technology. But it also says that every day it shops its major competitors, including Best Buy and Wal-Mart, and then adjusts its prices so consumers always get the lowest price.

The location has been empty since Circuit City liquidated and closed all of its stores in March. Before it closed, Circuit City was operating under Chapter 11 bankruptcy protection and initially had hoped to keep the Tucson locations open, though it had closed all of its Phoenix locations as underperforming.