NewQuest Properties has successfully sold a 20-acre tract in the Grand at Aliana in Richmond to Costco Wholesale Corp. This transaction has paved the way for immediate construction on the third phase of development, with Costco as its anchor tenant.
The renowned retailer is set to open its newest membership warehouse this summer, making it their third location in Fort Bend County and 39th overall in Texas. The new warehouse will be situated within close proximity to NewQuest’s existing warehouses located just six and ten miles away from the Grand at Aliana. This project marks an exciting start for NewQuest’s expansion plans for their mixed-use development which spans over 400,000 square feet along one mile of frontage on Grand Parkway/TX99.
Since 2018, NewQuest has been diligently developing the sprawling 80-acre site that is now known as The Grand at Aliana. Their upcoming phase includes a diverse mix of offerings such as multifamily units, medical facilities and freestanding restaurants alongside an additional retail space spanning over 20,000 square feet.
The newly acquired property by Costco will be adjacent to another proposed multifamily development by NewQuest; separated only by an interior road within The Grand at Aliana community.
