Costco Makes Plans for Camarillo Store
Costco is planning to develop a 160,000-square-foot store with a free-standing gas station at the west end of the Camarillo Town Center, south side of the 101 Freeway, and west of Home Depot near Springville Drive.
Costco representatives conducted detailed demographic studies and concluded that from a strategic standpoint, Camarillo presents an outstanding opportunity for the retailer to gain new members.
Neighboring cities of Oxnard, Simi Valley, and Westlake have Costco stores. Through a leakage analysis, which calculates the loss of potential revenue caused by residents leaving Camarillo to make purchases, it was found that Costco is an ideal business for Camarillo. In the last 12 months, an estimated 36,650 Camarillo residents visited the Oxnard store with 386,740 total visits, while 12,000 residents visited the Westlake store with 89,500 total visits and 6,000 residents visited the Simi store with 32,800 visits.
“Recapturing this leakage out of the community will bolster the City’s already strong sales tax revenues, and this development is estimated to quickly become one of the top ten sales tax generators for the City,” shared City Manager Greg Ramirez.
If all goes as expected, Costco anticipates opening its doors in mid-to-late 2024.