Much of the 5 acres Costco bought is a parking lot. (Mike Platania photo)
Costco has struck a sizable deal on West Broad Street – one that would translate to over 8.6 million orders of its famous $1.50 hot dog and soda combo.
The Washington-based chain of wholesale clubs earlier this month purchased 5 acres and a pair of buildings next to its Henrico store at 9650 W. Broad St. for $13 million, county records show.
The deal included the 26,000-square-foot building at 9750 W. Broad St. that’s occupied by Consumer Opinion Center, an Altria-funded tobacco research office, and a vacant 18,000-square-foot building at 9700 W. Broad St.
Combined with its nearly 130,000-square-foot warehouse on 12 acres next door, Costco now controls 17 contiguous acres and around 174,000 square feet of retail space along that stretch of the county.
However, it’s unclear how the company plans to use the newly acquired real estate. A Costco spokesperson declined to comment for this story, and no plans have been filed with Henrico for the sites.
Florida-based NNN Reit was the seller in the deal, which closed Oct. 10. Henrico County most recently assessed the two parcels at a combined $5.7 million.
Costco has owned and operated its lone Henrico location since 1991. Its only other Richmond-area location is on Mall Drive near Chesterfield Towne Center, which it opened in 2011 after relocating the store from Hull Street Road. Costco, which is publicly traded, has 861 locations globally.
Much of the 5 acres Costco bought is a parking lot. (Mike Platania photo)
Costco has struck a sizable deal on West Broad Street – one that would translate to over 8.6 million orders of its famous $1.50 hot dog and soda combo.
The Washington-based chain of wholesale clubs earlier this month purchased 5 acres and a pair of buildings next to its Henrico store at 9650 W. Broad St. for $13 million, county records show.
The deal included the 26,000-square-foot building at 9750 W. Broad St. that’s occupied by Consumer Opinion Center, an Altria-funded tobacco research office, and a vacant 18,000-square-foot building at 9700 W. Broad St.
Combined with its nearly 130,000-square-foot warehouse on 12 acres next door, Costco now controls 17 contiguous acres and around 174,000 square feet of retail space along that stretch of the county.
However, it’s unclear how the company plans to use the newly acquired real estate. A Costco spokesperson declined to comment for this story, and no plans have been filed with Henrico for the sites.
Florida-based NNN Reit was the seller in the deal, which closed Oct. 10. Henrico County most recently assessed the two parcels at a combined $5.7 million.
Costco has owned and operated its lone Henrico location since 1991. Its only other Richmond-area location is on Mall Drive near Chesterfield Towne Center, which it opened in 2011 after relocating the store from Hull Street Road. Costco, which is publicly traded, has 861 locations globally.
Hopefully they move their gas pump operation over there. It definitely needs a better flowing and defined space!
There was a story years ago that WalMart controlled the properties surrounding that Costco to inhibit its size and ability to add fuel sales. The main building seems smaller than the one in Chesterfield.
The Costco in Midlothian has been there longer than that, it just was previously on Hull Street.
The Springfield/Broad location started as a Price Club, which didn’t merge with Costco until 1993, and wasn’t rebranded as a Costco until years later.
Costco opened off Westmoreland in Richmond in 1984. The hull street store opened in 1991 or so, they then moved to mall dr.
Incomplete information in this article at best.
My guess is that they will move the tire center for sure so that they can easily expand the existing store. If they choose to move the gas pumps that’s a far bigger cost. It was a great move on Costco’s part since the existing store is bursting at the seams and is super profitable.
By the way. The “original” location on Westmoreland was a Price Club that merged with Costco and then relocated to its present location. It preceded the Hull Street location.
This is an excellent decision on Costco’s part. I avoid that location due to it’s tight parking, etc and drive to the newer location in Chesterfield. Let’s watch how this land purchase impacts the parking/gas space.
An employee told me they are moving the gas pumps to the back of the building.