Costco Wholesale Corp. has purchased a prime parcel in Katy in a deal that cements the far west Houston region as a hub for distribution centers.
Houston-based Hines has called off its plans to develop the Pintail Crossing business park in Katy and has sold the land to Costco, according to property records. Hines had planned to develop a 2.1-million-square-foot business park on the site, which is between the Amazon and Igloo distribution centers.
Hines said Monday that it sold the 150-acre site at the northwest corner of Interstate 10 and Igloo Road to an undisclosed user. The company said the buyer will develop and own a large-format distribution center serving Katy and the surrounding area.
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