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  • Marc Stiles, Puget Sound Business Journal

Site of Regal Cinnebarre Now Owned by Costco

Costco Wholesale isn't done growing its Issaquah headquarters.

The company last week paid $10 million for an approximately 3.5-acre Pickering Place property, public records show. The property is where a Regal Cinebarre operates at 1490 NW 11th Ave., next to Costco's expanding headquarters.

"We want to have room to continue to grow here over time," said Costco CFO Richard Galanti.

The seller was Mountlake Terrace-based Eastside Theatre Group LLC. Public documents list Douglas and Gordon Henrikson as the LLC's governors.

Regal still has a lease for the property, according to Costco Senior Vice President of Real Estate Dave Messner. He declined to say how much time remains on the lease, but said development of the property "will be an ongoing effort over several years."

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