COSTCO Business Center Metro Vancouver

[Changing City]

Originally Posted by jollyburger

I guess we'll see if that development permit shows up that Lexus mentioned but with Beedie buying it I'm still betting on general warehouse space.

I think a Costco Business warehouse would fit within an industrial / warehouse definition in many municipalities. Beedie have built-to-suit for Tesla, Amazon and for Abcellera, so it's possible that Costco would also be a good fit within their portfolio. Concord Pacific still owns the Downtown store, so Costco don't invariably own their premises.

[jollyburger]

Do they own it?

Pacific Place Holdings Ltd., since amalgamated with Concord Pacific Group Inc. (CPGI), entered into a purchase agreement on October 25, 2001, with Costco Wholesale Canada Ltd. to sell a portion of the CPGI site located between the Georgia Street and Dunsmuir Street viaducts, adjacent to GM Place. CPGI agreed to sell an airspace parcel to Costco and pursuant to a development agreement to build a 147,000 square foot retail store on the site. The total value of the deal remains confidential. CPGI intends to develop four or five towers above the store containing approximately one thousand strata lots and more than 850,000 buildable square feet. CPGI must obtain rezoning and development approval prior to proceeding with these developments

.

https://www.lexpert.ca/big-deals/concord...e-agreement-with-costco-wholesale/345301

They lease under 20 of their 100+ Canadian properties but not sure how many of those leases are on older warehouses

https://www.sec.gov/Archives/edgar/data/909832/000090983224000049/cost-20240901.htm

[Changing City]

Originally Posted by jollyburger

Do they own it?

Concord's website implies they own it. If owing the warehouse was critical to the development, It's possible that Beedie would have a similar arrangement with Costco to sell on completion.

[jollyburger]

There's an Ontario developer that has been doing some Costco anchored developments recently so I guess it improves the chances.

https://www.ricegroup.ca/portfolio

EDIT: Someone leaked a building plan with a proposed Costco in Halifax (third party developer) yesterday

https://www.saltwire.com/nova-scotia/hal...x/costco-halifax-rumors-middle-sackville

[jollyburger]

They're auctioning off all the racking inside the Lowe's so I guess something is happening with the building.

https://www.ableauctions.ca/auction?aAuctionId=9cf12c0a-93e4-4aff-8d0b-6e5640aa8062

Any New West development applications should show up on this page

https://www.newwestcity.ca/planning-buil...n-the-go/articles/4947.php?status=active

[rickvug]

I also have confirmation that the Queensborough Lowes location will become a Costco Business Centre. No additional details beyond that (ie. on land ownership or if the warehouse will be reused as is).

[hollywoodnorth]

Originally Posted by jollyburger

There's an Ontario developer that has been doing some Costco anchored developments recently so I guess it improves the chances.

https://www.ricegroup.ca/portfolio

EDIT: Someone leaked a building plan with a proposed Costco in Halifax (third party developer) yesterday

https://www.saltwire.com/nova-scotia/hal...x/costco-halifax-rumors-middle-sackville

looks like the Victoria Store may get expanded as well >>

https://www.westerninvestor.com/british-...on-to-buy-staples-langford-site-10123178

Costco spends $14M to buy Staples Langford site
Costco Wholesale Canada Ltd.’s plans for the Staples site next to its Langford store have not been announced.


and looks like Thunder Bay is finally getting a store >> https://www.tbnewswatch.com/local-news/zoning-amendment-request-fuels-costco-speculation-10334335



anyone have any updates on the proposed South Surrey store? seems to be slow going ....?

[hollywoodnorth]

and for people to better understand the size of store/site size needed/ratio of parking .... also of NOTE is this was a new build. they didnt convert another store like was the case in Montreal/Southern Ontario.....

here is the Edmonton Costco Business Centre
10310 186 St NW, Edmonton, AB T5S 0P3

>> https://maps.app.goo.gl/uXcgUrkKtggGHCsh7


ALSO of interest in New Westminster is >>

The store has 117,000 square feet of retail space as well as a 30,000 squarefoot gardening centre, but store manager Ramona Paul said she expects helpful and knowledgeable employees will be what attracts customers to the store.

https://www.newwestrecord.ca/local-business/video-first-lowes-in-bc-opens-in-queensborough-2951431

[hollywoodnorth]

Current Business Centre Locations in Canada:
Montreal x 2
Ottawa
Edmonton
Toronto
St Catherine's

Locations they have in the pipeline:
Winnipeg (conversion of old store once the new one U/C opens)
Calgary
Vancouver (New West)

[hollywoodnorth]

also of note to the New West location is that Anthem owes the Value Village property next door at 1135 Tanaka >> https://anthemproperties.com/property/queensborough/

[jollyburger]

Originally Posted by hollywoodnorth

also of note to the New West location is that Anthem owes the Value Village property next door at 1135 Tanaka >> https://anthemproperties.com/property/queensborough/

I think it's co-owned? The leasing brochure has Beedie on it as well.

[hollywoodnorth]

Originally Posted by jollyburger

I think it's co-owned? The leasing brochure has Beedie on it as well.

ah yes I see that now >>

Queensborough is a 40-acre industrial site located in New Westminster, BC.

Acquired and developed in partnership with Beedie, the property is subdivided into three lots, one of which is the site of the first Lowe’s Home Improvement Warehouse in BC, which opened in 2011. The other two lots include multi-tenant industrial/warehouse facilities. The property offers great exposure to Highway 91A and is nestled in between the Starlight Casino, Walmart and other significant retail stores.

[hollywoodnorth]

also apparently SOME Business Centres do have Gas Stations >>

https://www.chandlernews.com/santan/busi...a1cc7ae-da95-11ef-bf25-1b50b9674a1a.html

It will be the second Costco Business Center in the Valley if approved by the City Council. It was unanimously recommended for approval by Chandler’s Planning & Zoning Commission at the Jan. 15 meeting.

Costco plans to build a 15-pump gas station along with the Business Center on the 18.65 acres and any Costco member could use the gas station or shop at the business center.

[bluefox]

Originally Posted by rickvug

I also have confirmation that the Queensborough Lowes location will become a Costco Business Centre. No additional details beyond that (ie. on land ownership or if the warehouse will be reused as is).

Can't have a Costco location without a nightmare parking lot and inadequate road design, so this site makes perfect sense

[rickvug]

Daily Hive article on the Queensborough Costco Business Centre: https://dailyhive.com/vancouver/costco-business-centre-vancouver-new-westminster-location-approved. It is official now with some FOI drawings in the article. Interesting that there isn't anything depicted on the rezoned lot across the street. The rezoning request made it sound related to consolidation with the Lowes site (ie. matching zoning). I wonder if it is unrelated or perhaps a sign of either additional parking or a gas station.

As far as traffic goes the article makes it sound like the number of shoppers is about 1/4 of a typical Costco.

[NewfBC]

Originally Posted by rickvug

Daily Hive article on the Queensborough Costco Business Centre: https://dailyhive.com/vancouver/costco-business-centre-vancouver-new-westminster-location-approved. It is official now with some FOI drawings in the article. Interesting that there isn't anything depicted on the rezoned lot across the street. The rezoning request made it sound related to consolidation with the Lowes site (ie. matching zoning). I wonder if it is unrelated or perhaps a sign of either additional parking or a gas station.

As far as traffic goes the article makes it sound like the number of shoppers is about 1/4 of a typical Costco.

This is correct.. the majority of shoppers are Business Membership members.. the store is open until 6pm daily.

Instead of TVs at the front (there are no TVs or most other electronics sold at a Business Centre), you'll find commercial deep fryers and huge mixers!

Ron.

[Tvisforme]

Originally Posted by NewfBC

This is correct.. the majority of shoppers are Business Membership members.. the store is open until 6pm daily.

Instead of TVs at the front (there are no TVs or most other electronics sold at a Business Centre), you'll find commercial deep fryers and huge mixers!

Ron.

Are the prices the same for identical items in regular and business stores?

[NewfBC]

Originally Posted by Tvisforme

Are the prices the same for identical items in regular and business stores?

Yes.

There's a website specific to Business Centre stores.. will give you an idea what they carry.

https://www.costcobusinesscentre.ca/

Ron.

[hollywoodnorth]

Originally Posted by rickvug

Daily Hive article on the Queensborough Costco Business Centre: https://dailyhive.com/vancouver/costco-business-centre-vancouver-new-westminster-location-approved. It is official now with some FOI drawings in the article. Interesting that there isn't anything depicted on the rezoned lot across the street. The rezoning request made it sound related to consolidation with the Lowes site (ie. matching zoning). I wonder if it is unrelated or perhaps a sign of either additional parking or a gas station.

As far as traffic goes the article makes it sound like the number of shoppers is about 1/4 of a typical Costco.

awesome thanks for the link!

this is AMAZING news! yes!!!

[WarrenC12]

Would love to see a massive L2 EV charging deployment here. Free for members of course.