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ISSAQUAH, WA-Costco Wholesale Corp. has acquired the Seattle Public Schools Logistics Center for $12 million, giving the retailer several acres of property to expand its parking lot for the adjoining Costco warehouse store.

While Costco plans to immediately expand its parking lot (part of which it already leases from the Seattle School District), it has not determined what to do with the remainder of the Logistics site, which is located at 4141 4th Ave. South. The Seattle School District will move out of the property’s one-story, 118,000-sf warehouse at the end of this year. Costco will be able to further expand it parking lot or expand the store’s facilities.

Costco has been in negotiations with the district since 1999. At that time, a community group, the Manufacturing Industrial Council, opposed the deal, as it would use industrial land for a parking lot. However, a city hearing examiner ruled the district could do as it wanted with that property.

The Seattle School District plans to consolidate its offices at the Stanford Building, part of its new $43.2 million headquarters site. In addition to 189,000-sf of office space, the 359,000-sf, 12-acre facility includes a meeting hall, repair shops, warehouse space and a central kitchen.

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