Costco Looks for Distribution Space in Houston, Texas
HOUSTON, TX - The Lone Star State might be gaining a major addition to its wholesaler lineup. Washington-based Costco is reportedly looking for land to accommodate up to a one-million-square-foot distribution space in the west and northwest Houston area. Costco’s development could be accommodated on about 80 acres.
A 150-acre land parcel that is transforming into an industrial park that is focused on distribution tenants by Houston-based Hines is currently up for consideration. The land, known as Pintail Crossing Business Park, is located at the northwest corner of Interstate 10 and Igloo Road and is nestled between Seattle-based Amazon’s one million-square-foot distribution center and Igloo Product Corp.’s headquarters and distribution center, according to the Houston Business Journal.
On behalf of Hines, Boyd Commercial leases the park, but both companies didn’t provide a comment, the news source explains. Further, Costco, the Greater Houston Partnership, and the Katy Economic Development Council also declined to comment. GHP and Katy EDC assist with long-term hiring when companies look for deals of this magnitude.
Even though the company beat estimates, as we previously reported, its stock faltered when news of potentially slowing e-commerce growth hit with its fourth quarter fiscal results.
Appraised at $46.8 million, Costco’s Houston-area retail locations include Katy, Humble North Gessner, and, soon, Cypress. Will the addition of a major distribution space increase the wholesaler’s stance in the south? AndNowUKnow will keep you updated!