McKinney's Growth Has Attracted Costco

Costco Wholesale Club has closed on the purchased of 15.5 acres in McKinney's Headington Heights area and plans to build a store. The company is in the process of submitting plans for the parcel on the northeast corner of Hardin Blvd. and W. University Drive, or U.S. 380, said Dave Messner, senior vice president of real estate at Costco. Messner said there's no opening date yet, adding, "We're still working on the building permits." The land has an appraised value of $4.56 million, according to county records. It can take six months or more to build a store so the earliest it can open is next year. The store will be Costco's 11th in Dallas-Fort Worth. Costco, which is headquartered near Seattle, so far hasn't felt the retail industry's weakness fueled by online shopping and too many stores. Costco's same-store sales are leading the pack with a 6.2 percent increase in July. It's fiscal year ends this month and it has reported a 3.8 percent same-store sales increase through its 11 months. Frisco and McKinney ranked second and third on the U.S. Census Bureau's list of fastest-growing cities. Between 2015 and 2016, Frisco's population grew 6.2 percent and McKinney was up 5.9 percent. McKinney's added more residents and still has lots of undeveloped land.Costco is part of 120 acres in development along four corners. Costco has strategically located its stores to fan out across the Dallas-Fort Worth area. Its 10 stores in North Texas located in Duncanville, Fort Worth, Arlington, Southlake, Lewisville, West and East Plano, Frisco and Rockwall.The new Costco is about two miles west of the Sam's Club in McKinney.Costco's most recent store opening was its first inside the Dallas city limits where Sam's Club has five stores. Costco took its time finding a place inside Dallas. It wanted to be on N. Central Expressway and opened in May at 8055 Churchill Way.Sam's Club, which has 22 stores in Dallas-Fort Worth, recently lost a fight to build a sixth store inside Dallas just north of downtown near Cityplace.  Continue reading...