A design graphic shows the Menifee Valley Business Park that will include a Costco distribution center.
Plans that have been in discussion for months came closer to reality this week when real estate development company BGRE announced it has sold approximately 115 acres of the Menifee Valley Business Park property to Costco for construction of a distribution center.
The Menifee Valley Business Park, a site with five large buildings being constructed west of Heritage High School and south of Highway 74, is planned as the premier industrial and logistics business park in Menifee. The City of Menifee approved the project’s site plan in July. The site was owned by a Brookfield real estate fund and developed and managed by the BGRE company on its behalf, a BGRE press release stated.
As part of the first phase of the site’s development, the Costco plant will be a 1.26 million-square-foot distribution logistics facility. It will include dry and cold-storage distribution space, office and support facilities, extensive truck-loading infrastructure, and associated site improvements.
“Menifee is a strong example of our ability to create value by taking a complex land opportunity through entitlement, infrastructure and site-plan approval and delivering a site that is ready for a world-class user,” said Rohan A’Beckett, Senior Vice President of Development for BGRE. “We are pleased to have worked closely with the City of Menifee and our partners to position this property for its next phase of development and long-term economic activity.”
“This project represents a significant investment in Menifee and reinforces our city’s growing role as a center for business and economic development in Southwest Riverside County,” said Kayla Charters, Economic Development Director for the City of Menifee. “We are pleased to welcome Costco’s investment, which brings great mortgage-paying jobs closer to home for our residents, and we appreciate BGRE’s work to deliver a fully entitled and infrastructure-ready site that can support new economic activity and employment opportunities for our community.”
The 115-acre portion of the business park is planned to be developed in two phases. It is scheduled to include approximately 784,600 square feet of dry distribution space, 270,000 square feet of cold distribution space, and 15,000 square feet of office space, along with supporting refrigeration, electrical and operational facilities. Current plans also contemplate 452 dock doors, more than 1,200 truck-trailer stalls, and approximately 500 passenger-vehicle parking spaces.
Plans for a Costco store on Haun Road south of Countryside Marketplace are still preliminary.
For more information on the Menifee Valley Business Park, visit https://menifeevalleybp.com/
