Costco opens first Manhattan store
Posted By John Gillie on November 12, 2009 at 7:37 am
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After years of searching for a suitable and affordable site, Issaquah-based Costco Wholesale Corp. today opens its first Manhattan store.
The 110,000-square-foot store on site of a former wire factory in East Harlem is expected to be one of the chain's highest grossing stores.
Costco had looked for a site for a Manhattan outlet for years. It had considered the East Harlem site before, but balked because the rent was too high. The chain reconsidered after Home Depot backed out of its commitment to the developer and rents fell 30 percent after the recession hit.
The store will have fewer parking spots than the typical Costco. Many customers are expected to take the subway or cabs to the store. The shopping center where the store is located also contains a Target and a Marshalls store.
Costco, which has stores in Queens, Staten Island and Brooklyn, continues to look for a site for another Manhattan Costco. The company had talked with skyscraper developers about using their basement or first floor spaces, but some of those projects have been deferred because of the financial crisis.







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