Home Commercial Costco Buys Redmond Plot for $16MM

Costco Buys Redmond Plot for $16MM

Costco Warehouse, Redmond

Costco Wholesale has been reported as the buyer of a 15.4-acre plot of land in southeast Redmond, just south of Union Hill Road. The area also houses other retail giants such as Whole Foods and Target, among others.

The purchased parcel is located on the corner of NE 76th St and NE 188th Ave among a mix of industrial and retail properties. The plot was initially approved for a warehouse by the Redmond city council in 2009, but the purchase was not completed until last week. The report states that people familiar with the transaction had indicated the new property would be ready in the second half of 2016.

Costco has reportedly confirmed the purchase but neither the city council nor the company have released any further detail about the deal or further plans for the land.