Oregon developer to buy "old" Costco - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Oregon developer to buy "old" Costco

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UNION GAP, Wash. -- The old Costco building located on Washington Ave. has a buyer.

Fred Bruning, CEO of CenterCal Properties told KNDO he has signed the Purchasing Agreement with Costco for the building located at 1400 E. Washington Ave in Union Gap.

Bruning who also owns the Valley Mall says he plans to lease the Costco property to two major retail stores.

Although, he wouldn't tell us who they are, he does say the stores would open in early 2012. Right now, Bruning says they are just waiting to hear back on the Letter of Intent with Costco.

The two stores would create about 200 jobs in the area.

Bruning says he plans to tear down the current structure and rebuild for the new retail stores.

In the meantime, Bruning says he expects to close on the purchase of the sale by March or April.

And other development updates, Bruning says the new Kohl's in Union Gap is expected to have its "soft opening" sometime in early March.