Thursday, February 8, 2018

What will happen to the Division St. Costco after Costco moves? Here is the answer...

By now most of us know that the Costco store at 7619 N. Division is relocating soon to a new construction store at 12020 N. Newport Hwy. That store is already under construction and will be 30,000 square feet larger then the current one. But, since construction on the Newport Hwy store only started recently we don't expect the store move for a few months yet. So, even though Costco will continue to be open for business in the N. Division site for awhile yet there are already several rumors floating around about who will replace that building.


The number one rumor is that Fred Meyer will open a store there as they closed their store nearby on Francis a few years back. And, while they still could, Fred Meyer has not signed on to the building as of this point, so that rumor seems to be false.


In fact, the North Division Costco actually recently appeared as for lease by NAI Black. And, interestingly enough it's listed as a re-development project. The marketing files just show draft site plans so nothing is set in stone but by this it appears the building and property will likely be used for something other then a traditional big box store like it is today. This doesn't mean it won't remain retail, but a mega retailer seems unlikely ( not impossible though ).


The marketing files go on to say that the development could be ready for occupancy as soon as early 2019. The front parking area, where the fuel station is today appears to be planned to re-done with a couple of pad sites ( maybe restaurants ) and a small 7000 sq foot +/- in-line strip mall. The main building has a couple of options, one being left in it's whole 133,000 square foot state and leased as " flex space " meaning just about any kind of tenant, including offices, warehouse or really anything.


The second option would have the main building being divided up, likely into 3 separate units, but still used as flex space. Either way nothing is leased just yet, so nothing is for sure coming there as of right now. And who, if anyone, is looking into opening there is a secret. It will however be interesting to see what happens as the building is in one of Spokane's busiest corridors so it should fill quickly after Costco leaves.


Keep watching Inland Northwest Business Watch as we'll keep watching for news on the Division St. Costco as well as the new Costco coming soon to Newport Hwy.


If you own a business and are interested in leasing space at the N. Division Costco building, here is some more information including who to contact-
https://www.commercialmls.com/Media/PDF/photos/pdf/fl/594064_1.pdf


* This site is not affiliated with NAI Black or any CRE brokers.

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