Costco eyes Gwinnett site for new store - Atlanta Business Chronicle (2024)

In the future, Gwinnett shoppers may be able to buy tennis balls in bulk at the former site of a now-demolished venue used for the 1996 Summer Olympics.

Costco Wholesale Corp. (Nasdaq: COST) is eyeing the former Stone Mountain Tennis Center near U.S. 78 as a location for a new store, according to a real estate source familiar with the potential deal. If that happens, the rest of the 26-acre site at Bermuda Road and West Park Place Boulevard could be reserved for other uses, such as apartments or standalone restaurants, according to the source.

Gwinnett County demolished the tennis center in 2018. The venue, once comprised of 15 courts with 7,500 seats, had fallen into disuse and neglect. Costly structural issues stood in the way of rehabilitating it. Local officials are negotiating with Fuqua Development — an Atlanta-based firm led by Jeff Fuqua — to reimagine the vacant lot.

Gwinnett's Southern Gateway

Gwinnett acquired the property through a land swap with Stone Mountain Memorial Association Board of Directors in 2016. After completing the demolition of the complex, local officials reviewed proposals from several developers interested in creating a mixed-use project to serve as a "southern gateway" into Gwinnett.

Gwinnett tapped Fuqua to spearhead redevelopment efforts in late 2020. The longtime Atlanta developer is known for creating suburban-style retail centers with ample parking. More recently, he has focused his attention on mixed-use projects, such as The Battery in Cobb County and Exchange @ Gwinnett near Buford.

In 2020, Fuqua shared preliminary ideas to fill the site with a grocery store, luxury apartments and 30,000 square feet of retail into the plan. He compared his vision to Peachtree Corners' Town Center, the de facto downtown area of the city with shops, restaurants and townhomes centered around a large greenspace.

Fuqua declined to provide comment on the latest status of the project. Gwinnett officials are unable to share details related to pending real estate and land deals, according to a county spokesperson.

Some community members aren't pleased with the potential for Costco to claim a portion of the site. A warehouse and surface parking lot wouldn't be the highest and best use of the county-owned property, said Vipul Patel, president of Exceptional Hospitality, which owns several hotels in the area.

Patel, who lives in nearby Lilburn, has watched businesses close to the site shut down. A high-end, walkable project similar to Avalon in Alpharetta could be as a catalyst for revitalizing the area, he said. He hopes to see recreational space, local restaurants and shops, housing and offices incorporated into the plan.

The surrounding area consists of low-rise commercial and industrial buildings, including a 650,000-square-foot Amazon fulfillment center with thousands of workers. The redevelopment site offers views of Stone Mountain Park. It's close to Mountain Park, a small residential community mostly comprised of single-family homes.

Costco's presence in Atlanta

Costco has rapidly expanded in Georgia. The membership-only brand — known for selling large quantities of items — operates 16 stores across the state. The company already has two stores in Gwinnett County, one nearGwinnett Place Mall and the other near Mall of Georgia. It recently opened a new warehouse in Oconee County near Athens.

Costco declined to provide comment about the potential for a new Gwinnett store. It's against the company's policy to comment on future warehouses or construction until it's ready to share details about a new location, according to an emailed statement from a spokesperson.

While online shopping and other consumer habits push brick-and-mortar retailers to explore new ways for attracting shoppers, grocery stores tend to perform relatively well. As one developer told Atlanta Business Chronicle in 2022: "People need to eat... You can't eat on the Internet."

Publix and Lidl are a few of the other brands working on adding new stores to Atlanta and similar Southeastern markets. Industry experts say grocers are attracted to the region for its population and job growth, supply of land and far-reaching suburbs and exurbs.

Costco is the third-largest global retailer, right behind Walmart and Amazon. In the second quarter of fiscal year 2023, the Washington-based company reported total revenues of $55.3 billion. Net sales and membership fees grew year-over-year by 6.5% and 6.2%, respectively.

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Costco eyes Gwinnett site for new store - Atlanta Business Chronicle (2024)


Where is Costco opening new stores in 2024 in the USA near? ›

Where is Costco opening new stores in 2024?
  • Loomis, California – May.
  • North Port, Florida – June.
  • Mt. Juliet, Tennessee- June.
  • Jiangning, China – June.
  • Riverbank, California – June.
  • Richmond, Texas – June.
Apr 3, 2024

Where is the new Costco in Georgia? ›

Stockbridge, Georgia

On Nov. 16, Stockbridge, Georgia celebrated the opening of a new Costco warehouse. Costco members may find the storefront at 1816 Jonesboro Rd, Suite 43 in McDonough, Georgia. Daily shopping hours are Monday through Sunday from 9 a.m. to 5 p.m.

Is Costco coming to Stone Mountain? ›

The old Stone Mountain Tennis Center is set to become a retail shopping center with the expectation of attracting Costco, Whataburger and more than 200 apartments.

Did Costco pay $40 million for Fulton property near airport? ›

Costco Wholesale Corp. (Nasdaq: COST) could be preparing for a major project after buying land close to Hartsfield-Jackson Atlanta International Airport. The big-box grocer paid $40 million for roughly 33 acres along Roosevelt Highway on the border of Union City and South Fulton, according to county property deeds.

How many Costcos are opening in 2024? ›

14, Costco CFO Richard Galanti announced that the company plans to open 33 locations during the 2024 fiscal year. That's notably higher than the 23 warehouses that Costco opened in 2023. Costco currently operates 871 warehouses worldwide, so the planned openings should push its total over the 900 mark.

What is the Costco plan for 2024? ›

UNITED STATES & CHINA - Recent reports have revealed an ambitious expansion plan brewing for club chain Costco. The company plans to open 31 new locations in the next year, bringing 24 new locations to the United States.

Where are the proposed new Costco locations in 2024? ›

According to the company's website, a branch in Loomis, California will open in May. Four more stores will open in the month of June in different states: North Port, Florida; Mt. Juliet, Tennessee; Riverbank, California; and Richmond, Texas. Don't know which Costco is closest to you?

Who owns Costco? ›

Costco is mainly owned by institutional investors, who own over 70% of shares. The largest shareholders in December 2023 were: The Vanguard Group (9.10%) BlackRock (6.90%)

How many Costcos are in Georgia? ›

Number of Costco Stores by State
StateNumber of Stores
48 more rows
Sep 8, 2023

Why is Stone Mountain so popular? ›

Stone Mountain Park is known for its natural park areas surrounding a mountain with a bas-relief rock carving on its side. The walk-up trail is a challenging, yet family-friendly experience that you can do at your leisure.

Why was Stone Mountain closed? ›

The park then closed temporarily in August 2020, and the Georgia National Guard was deployed due to a planned White supremacy rally. Stone Mountain Action Coalition's website states that the August 2020 closure diverted the protesting groups to Stone Mountain Village and forced some businesses to temporarily close.

How much does it cost to get into Stone Mountain? ›

$20.00. Vehicle entry to Stone Mountain Park requires a valid parking permit which can be purchased here or at one of the entrance gates. The daily parking fee is $20.00 per vehicle.

Who makes the most money at Costco? ›

Some of the highest wages a worker can make at Costco are in the job titles Registered Pharmacist ($136,000), and title Full Stack Software Engineer ($133,750) which are the highest paying jobs at Costco.

Where does Costco make the most money? ›

Costco makes some of its profits from its merchandise, but the bulk of its profits come from membership dues. Only members can shop at Costco. The membership business model allows Costco to undersell the competition by offering products in bulk at lower prices to ensure customer loyalty.

How much does one Costco store make in a day? ›

Key Costco Statistics. Costco's total annual revenue in 2021 was $195.929 billion. The daily revenue for one Costco store is around $530,000.

What store did Costco merge with? ›

Over the next decade, both Price Club and Costco Wholesale continued to innovate and grow, and in 1993, the two mega-retailers merged, creating a gifted leadership team that soon made Costco the world's most successful warehouse club.

Is there a Costco store in Shreveport, Louisiana? ›

Costco operates in 40 states and several countries, but not in Louisiana, Mississippi or Arkansas. After scaling back on openings in recent years, Costco plans to open 20 new stores in the next fiscal year, according to the company's website.

Is Costco coming to Weatherford, TX in 2024? ›

Costco Wholesale is adding a new location in Weatherford, with completion expected by early 2025.


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