Work will get underway soon on a site for the Dayton-area’s first Costco store after Oberer Realty closed a deal Monday to make Costco the anchor tenant in its Cornerstone development. The development in Centerville, just off I-675, has been around for five years, but most tenants for the site are still in negotiations and haven’t been announced.
George Oberer, Oberer Companies CEO, says even though Cornerstone is just beginning to fill up, he’s not worried about keeping the development occupied.
“Cornerstone is always going to be a highly desirable location because of its proximity to good interstate and road systems, but also utilities….which is why Costco located here,” he says.
He hopes Costco will draw a set of other national businesses including hotels, restaurants and other retailers to Centerville.
The wholesale retail club is known for its low prices as well as for above-average pay for front-line employees, and it is predicting it will bring in 200 new jobs. Costco paid $6.3 million for the land and its share of the new infrastructure going in at the site, and Oberer says the company believes its customers will come from as far as 30 miles away to the Centerville location. Currently the closest Costco is in Columbus, over 80 miles away.
The 148,000 square-foot warehouse is expected to open in November 2014.