TORRANCE, CA—Costco has purchased 23 acres ofland in Torrance from the Rockefeller Group todevelop an expanded area retail store. Thewholesale retailer plans to build a 164,000-square-foot building onthe site with a fueling station and a car wash. The sale price forthe land is undisclosed.

“The sellers were not marketing the entire site for sale, butwere approached by Costco. There was considerable interest fromdevelopers for portions of the entire site, as well interest fromindustrial users, office users and medical groups,” ToddTaugner, a principal at the Klabin Co.,tells GlobeSt.com. “The site is zoned industrial, but had anenvironmental impact report completed, which entitled the entiresite for medical office development.” Taugnerrepresented the Rockefeller Group in the transaction, whileSteve McArthur, VP of Northwest AtlanticPartners, represented Costco.

Costco plans to break ground on the property in early 2015 withdelivery scheduled for fourth quarter of 2015. The site is locatedat 2740 Lomita Blvd. and is adjacent to an existing store to thesouth. This expanded store development is part of Costco'sexpansion plans, according to Taugner. Last month, Costco alsobought acquired 17 acres of land in New Jersey for $9.4million with plans to build a 156,000-square-foot store that willinclude a liquor store, pharmacy and optical services section.