Kital-Pico LLC and its development partner, LCOR Public/Private Inc., were granted approval from the Los Angeles Planning Commission to build Pico Plaza, a 440,000-square-foot mixed-use development located at 4550 West Pico Blvd. It will be anchored by a stacked Costco-Home Depot structure.
The 12-acre property is the former site of a Sears store (that was recently operated as a Builder's Discount Store and garden center) and a vacant building formerly occupied by Builders Emporium. Pico Plaza is expected to create 750-1,000 direct and permanent jobs, and 2,000-2,500 indirect jobs.
In noontime trading, Costco's stock price was off 29 cents from Friday's close at $36.02. The stock's 52-week price range is $25.93 on the low end and $59 on the high end.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
