News

Costco Beefs Up Land Holdings Near Atlanta Airport

Costco
Bisnow/Jarred Schenke
Shopping In The Era Of The Coronavirus.

Wholesale retail behemoth Costco has bought up land near Hartsfield-Jackson Atlanta International Airport as consumer spending shifts more toward discount retailers.

Costco paid $40M last month for 33 acres along Roosevelt Highway, straddling the cities of Union City and South Fulton near its distribution center at 4250 South Fulton Parkway, the Atlanta Business Chronicle reported. TPA Group, which had amassed the acreage over the past few years, sold the property to Costco.

The big-box retailer, which sells grocery and household goods in bulk at discount, is pushing up the number of new stores it opens each year from 23 to 30 within the next decade, including geographical expansion with new stores in Canada, Taiwan, Japan and Australia, Costco Chief Financial Officer Richard Galanti said during a May earnings call.

Costco is being pushed by the same tailwinds helping other discount retailers’ performance over the past year. More than 60% of consumers were hunting for bargains this year, with 57.9% switching to cheaper food and grocery brands, according to a GlobalData consumer poll reported by CoStar.

That shift in consumer sentiment is propelling the expansion of other discount retailers, including Five Below, Dollar Tree, Family Dollar and Dollar General, which opened more than 1,000 stores this year so far.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

1375 Peachtree: A Bespoke Design Redefining The Midtown Atlanta Workspace

Furniture Outlet The Dump Is Getting Dumped In Atlanta

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Thor Equities Plans $1B Data Center In North Georgia: The Atlanta Deal Sheet

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

Solar Projects In Georgia Meet Local Backlash As Data Centers Drive Demand For Power

EXCLUSIVE: Georgia-Pacific Scraps Conversion Plans For Its Atlanta HQ

Passco Sells Buckhead Apartment Complex: The Atlanta Deal Sheet

Baby Boomers Help Push Atlanta Medical Space Rents Above Traditional Office

Related Cos. Sells Alpharetta Apartments For More Than $100M

National Park Service Considers Transferring Yosemite Land To Developer

Appliance Parts Supplier Takes Over 500K SF In Pendergrass: The Atlanta Deal Sheet