Costco Acquires 20 Acres for New Richmond, Texas, Warehouse
ISSAQUAH, WA - Costco is expanding its foothold in Texas’ Houston region, having reportedly acquired 20 acres for a 154,648-square-foot store.
"Costco joining the Grand at Aliana validates the strength of the market and rounds out our traffic-generating anchors to further protect the long-term value of the overall project for future and existing occupants," Austin Alvis, President of NewQuest Properties—the developer at the head of the sale—shared, according to Houston Business Journal.
Slated to open in summer 2024, the new location will be a part of The Grand at Aliana, a burgeoning area where NewQuest Residential completed site work for a $62 million, 294-unit apartment complex across an interior road from Costco that will be ready in June 2025. Aside from the prime residential shopping base, the warehouse will also be near the southeast corner of the intersection of West Airport Boulevard and the Grand Parkway/State Highway 99 when it joins the 2,000-acre master-planned community.
This marks the banner’s third membership warehouse in Fort Bend County: Where will we next see Costco’s strategic expansion take hold?
AndNowUKnow will continue to report on this and other key players on the buy-side.
