New Costco to break ground in Lynnwood, WA

July 17, 2014 - PRLog -- DALLAS – Cypress Equities announced today the groundbreaking date of a 150,000-square-foot Costco. On Wednesday, July 2nd, a golden shovel ceremony will be held on the 15.5-acre-lot, located at 3001 184th Street SW in Lynnwood, Wash. The site is located directly across the street from Aldwerwood Mall. This will be the fourth Costco in the greater Seattle metropolitan area.

“Cypress is pleased to be a part of bringing a new Costco location to the area,” stated Chris Maguire, CEO of Cypress Equities. “There is a large demand for an additional store. We are eager to make that a reality for the Lynnwood community.”

In 2006, voters in the Edmonds School District approved a Capital Construction Bond. The funding included the rebuilding of Lynnwood High School in a different location, making the “Lynnwood Place” property available for ground lease. By law, any dollars generated from the lease of the property will go towards future capital construction needs across the district. The Edmonds School District serves 19,000 students from the communities of Brier, Edmonds, Lynnwood, Mountlake Terrace, Woodway and unincorporated portions of south Snohomish County.

“On behalf of the Edmonds School District, we are excited about this groundbreaking for the partnerships and long-term prosperity it brings to our schools and community,” said Superintendent Nick Brossoit.

“The groundbreaking for Lynnwood Place is an exciting day for Lynnwood. This mixed-use development is the result of a successful collaboration between the City, Edmonds School District, Cypress Equities, and Costco. Lynnwood Place is a positive contribution to Lynnwood that offers community residents and visitors a great deal more! ” Mayor Nicola Smith, City of Lynnwood.

About Cypress Equities

Cypress Equities* (Cypress) was founded in 1995 and has since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the U.S. Historically, Cypress has developed and acquired more than

17 million square feet and currently is developing and managing a portfolio of more than 8.5 million square feet of retail, office, residential and automotive real estate. Today, there are five Cypress Equities offices throughout the U.S., including Dallas (headquarters), New York, San Francisco, Atlanta and Fort Lauderdale. Visit www.cypressequities.com for more information.