The plans to open the region’s first Costco in Lowell have hit a snag, it appears.
According to a report in Talk Business published Friday, the company’s deal to purchase land in Lowell for their first Northwest Arkansas location has fallen through.
The warehouse store chain had initially planned to open in Lowell at the southwest corner of Concord Street and Pleasant Grove Road, the Northwest Arkansas Democrat-Gazette first reported.
Hank Kelley, CEO of Kelley Commercial Partners and broker on the deal, confirmed to Talk Business that the contract on the land for the deal has been terminated.
Fayetteville businessman Lyndy Lindsey, who controls the LLC that owns the property in Lowell where the store would have been located, predicted that the company will still end up in Lowell eventually.
“They terminated the land contract but said they’ll be back in the picture in Lowell in a year for a store,” Lindsey reportedly told Talk Business. “Who knows; they may end up at the same location.”