Bella Terra officials aim to bring the first Costco warehouse to Huntington Beach: Development plans were submitted to the city this morning for the new 154,000-square-foot store, which is slated to replace the former Mervyns at the open-air retail center.
The new location is expected to generate $1.2 million in annual revenue for the city, as well as create more than 200 full and part-time jobs.
The news comes on the heels of Bella Terra's announcement late last year that it plans to open a Whole Foods Market at the former home of Circuit City this fall – and it's a significant move for the center.
"(Costco) replaces a large vacant space that was challenging to re-lease given the current economic climate and retrenchment in the retail industry," says Lindsay Parton, president of DJM Development Partners, an affiliate of DJM Capital Partners, which assembled the Bella Terra district. "It is rare in this environment to fill such large blocks of space at all, let alone with premier retailers such as Whole Foods and Costco."
Costco officials selected the site at the 800,000-square-foot destination after an in-depth study of its shopping patterns and market, adds Parton.
"There are almost 40,000 Costco members residing in Huntington Beach. With the Bella Terra location we will keep those customers shopping in the city and attract additional shoppers from the surrounding area."
The store will be situated on the northwest portion of the property near the land set aside for the planned Village at Bella Terra, a mixed-use residential, retail and entertainment development. Costco will offer a full-format store with bakery items, hot dogs and a gas station.
Once plans are reviewed and approved, construction is expected to take about a year.
"Costco is a premier destination retailer that will enhance the shopping options at Bella Terra," finishes Parton.
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