Costco buys $20M office building near HQ

Seattle Costco has purchased an office building less than a mile from its Issaquah, Wash., headquarters for $20.3 million, according to The Seattle Times.

The company bought the building from Dayhu Investments of Vancouver, B.C., which had owned the building since it opened in 1992.

Costco has leased space in the three-story, 96,000-sq.-ft. building since 2001, when it also acquired an option to buy it.

Costco CEO Jim Sinegal said that while the company has no immediate expansion plans, it expects to need more office space in the next five to 10 years, and bought the building to accommodate that growth, the report said.