Costco Wholesale Buys $55 Million Fort Myers Site for Next-Generation Store

MT Newswires Live05-13

Costco Wholesale (COST) said Wednesday that it has acquired a 55-acre development site in Fort Myers, Florida, in a deal valued at about $55 million.

The site sits at the intersection of Colonial Boulevard and Plantation Road, with additional frontage along Metro Parkway, Costco said. The property traded at roughly $23 per square foot, according to the company.

Costco said it picked the location after reviewing multiple sites. The company cited strong infrastructure, high visibility and heavy traffic-over 100,000 vehicles daily-as key factors.

The layout will support a next-generation store, it said. Costco plans include multiple entry and exit points, better traffic flow, and expanded fuel capacity.

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