New York City — The Feil Organization has facilitated a new 148,000-square-foot lease with Costco Wholesale Corporation in New Orleans, which will mark the retail giant’s first venture into the state of Louisiana.
New York City — The Feil Organization has facilitated a new 148,000-square-foot lease with Costco Wholesale Corporation in New Orleans, which will mark the retail giant’s first venture into the state of Louisiana.
Slated to open in spring 2013, Costco will be located at the busy intersection of South Carrollton Avenue and Interstate 10 in the Carrollton area of New Orleans. The big box retailer will be built on 11 acres on the site of the former Carrollton Shopping Center near Xavier University. Costco will join CVS, Firestone, Family Dollar, and Subway at the site, now named Carrollton Plaza Shopping Center.
“We are very excited about helping to bring Costco to New Orleans and contributing to the area’s revitalization,” says Jeffrey Feil, CEO of The Feil Organization. “This lease represents a giant step forward for the existing and future retail establishments in New Orleans and will further boost confidence in the local market since Hurricane Katrina in 2005. We are proud to play a part in bringing new retail, new job creation, and new sales tax dollars to the people of New Orleans.”
The largest membership warehouse club to date, Costco was the sixth largest retailer in the United States as of July 2011 and the seventh largest retailer in the world. The first company to grow from zero to $3 billion in sales in less than 6 years, Costco focuses on selling products at low prices, usually at very high volume.
Carrollton Plaza Shopping Center is owned, managed and leased by The Feil Organization, a private, established commercial real estate firm headquartered in Manhattan. Feil owns and operates a nationwide portfolio of over 26 million square feet of retail and commercial space, and over 5,000 residential rental units. The Feil Organization owns several properties in the New Orleans area, including the 1,100,000-square-foot Lakeside Mall, the Gatehouse Apartments, and The Galleria.