IPG Commercial announces that Costco Wholesale Corporation has purchased 15 acres of industrial land in SLC located at 380 South and 5700 West. The land is directly east of their current distribution facility. Michael Jeppesen, SIOR, CCIM, LEED AP, principal broker of IPG Commercial, and Rick Dames with Cresa Partners (St Louis Mo), represented the buyer and John Greer, SIOR CCIM of Internet Properties represented the seller.
Costco Wholesale Corporation is a multinational corporation which operates a chain of membership-only warehouse clubs. Costco is ranked as the second largest retailer in the world and ranked #15 on the Fortune 500 rankings of the largest US corporations by total revenue. Costco Wholesale Corporation plans to use this land, which is adjacent to their Utah distribution facility, for expansion purposes.