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REDMOND,WA-Costco Wholesale Corp. has sold the 26-acre property on which it had intended to house its corporate headquarters and a retail outlet. Buyers Home Depot Inc. and Fred Meyer each paid $10 million for the local parcel.

Fred Meyer, a Portland, OR-based arm of The Kroger Co. of Cincinnati, plans to construct a two-level, 140,000-sf store. The Atlanta-based Home Depot hopes to build a 135,100-sf building, which includes a 20,000-sf garden center.

The property stands at the end of Highway 520, along Northeast 76th Street. Both companies intend to break ground this fall and open in the spring of next year.

The Issaquah-based Costco (Nasdaq:COST) today also released its earnings report for the month of June. The company reported net sales of $3.49 billion for the five weeks ended July 8, an increase of 12% from $3.11 billion in the same five-week period of the prior fiscal year.

On a comparable warehouse basis, that is warehouses open at least a year, sales increased 5%.Costco currently has 363 warehouse locations. The company plans to open four additional new warehouses, including two relocations of existing warehouses to larger and better-located facilities, prior to the end of its 2001 fiscal year on Sept. 2 and an additional 22 to 24 new warehouses, including two to three relocations, prior to the end of the calendar year 2001.

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