August 7, 2020
Costco Wholesale acquired a 1.5-acre site adjacent to its corporate headquarters in Issaquah from Pickering Property LLC for $6.4 million for a future HQ expansion. The Pickering Place property was a former Barnes & Noble store at 1530 11th Ave. N.W. and sits across the landscaped lake from Costco’s 529,000-square-foot corporate campus facility.
The company indicated it won’t immediately raze the existing building and plans to use it for additional corporate capacity. Last December, Costco acquired a nearby 3.5-acre movie theater property at 1490 N.W. 11th Ave. that’s also planned for future corporate expansion needs.
Costco has a separate 1.2-million-square-foot expansion underway (pictured). It encompasses a nine-story, 620,000-square-foot office building, slated to deliver in spring 2022, as well as 10-story parking structure. The additions will allow the retailer to consolidate employees at its corporate campus from several nearby leased locations.
The COVID-19 pandemic continues to drive solid growth for Costco, which reported June sales were up more than 11%.
For comments, questions or concerns, please contact Dennis Kaiser