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Costco On Phoenix Metro Buying Spree
Costco Wholesale Corp. has bought two parcels for $35 million to build Costco Business Centers. The Phoenix Business Journal reports that one of the properties, in Chandler, was 18.65 acres for $15.7 million. The company also plans a new concept store at Alma School and Pecos Road. Unlike traditional Costco Warehouses, Costco Business Center locations offer products in bulk for small businesses but are open to all Costco members.
A Costco Business Center is already up and going near Indian School Road and Grand Avenue. The company currently operates 26 Costco Business Center stores in 14 states across the country.
In February, Costco bought $10 million worth of vacant land in Tolleson to build a new distribution center. Currently, there are 20 traditional Costco warehouse store locations in the Phoenix metro area.
- ◦Sale/Acquisition
