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Costco Unloads 26 Acres for $20 Mil

REDMOND, WA-Home Depot and Fred Meyer have snatched up the land, located at the end of Highway 520. The joint purchase was split equally. Nearly 300,000-sf of retail is planned.

By Gina Binole | Updated on July 12, 2001

REDMOND,WA-Costco Wholesale Corp. has sold the 26-acre property on which it had intended to house its corporate headquarters and a retail outlet. Buyers Home Depot Inc. and Fred Meyer each paid $10 million for the local parcel.

Fred Meyer, a Portland, OR-based arm of The Kroger Co. of Cincinnati, plans to construct a two-level, 140,000-sf store. The Atlanta-based Home Depot hopes to build a 135,100-sf building, which includes a 20,000-sf garden center.

The property stands at the end of Highway 520, along Northeast 76th Street. Both companies intend to break ground this fall and open in the spring of next year.

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