Aerial view of the Costco store development site at Foothill Ranch Towne Centre in Lake Forest.
Costco has announced plans to open its 14th store in Orange County, at the Foothill Ranch Towne Centre in Lake Forest. The new location will replace a demolished movie theater and feature 160,811 square feet of retail space, surpassing the typical Costco size. The store is expected to generate significant sales tax revenue for the city, with projections of annual sales exceeding $250 million. While the new store will face competition from nearby retailers, it will serve the Lake Forest community and surrounding areas effectively.
The development will include additional features, such as a tire center, although initial proposals included plans for a gas station and rooftop parking. Recent updates suggest that the finalized design will be a one-story building with traditional ground-level parking and no gas station. The new store is expected to generate substantial sales tax revenue for the city, with annual sales projected to exceed $250 million.
Jonathan Volzke, the city’s spokesperson, welcomed the new Costco location, highlighting the positive impact it could have on the Lake Forest community. The shopping center is strategically located at the northern part of Lake Forest, just north of the 241 toll road, nestled between Bake and Alton parkways.
Costco will face competition from established retailers, including Walmart and Target stores nearby. The nearest current Costco is approximately 6 miles away in Irvine, indicating that the new store will serve residents of Lake Forest and surrounding areas such as Rancho Santa Margarita, Saddleback foothills, Mission Viejo, and Irvine.
In addition to the upcoming Lake Forest store, Costco operates several other locations across Orange County, including stores in Laguna Niguel, Tustin, Cypress, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, La Habra, San Juan Capistrano, and Yorba Linda. The company also has a business-focused store in Westminster.
Costco’s growth plan is not limited to Orange County; the company has announced plans to open six new locations internationally in March 2025, including two in California. One of these new locations in Southern Los Angeles will be part of a high-rise project featuring 800 apartments.
Recently, Costco has also made headlines regarding its membership policies. The company has raised membership prices and expanded its membership base, which now totals 77.4 million paid memberships, with nearly half being executive memberships. Membership fee revenue rose by 7.6% in the first quarter of the company’s 2025 fiscal year, reflecting the growing interest among consumers.
To enhance the shopping experience for members, Costco has begun utilizing scanners for membership verification, streamlining the process for entry into its locations. In a significant shift, Costco has also announced it will discontinue the sale of books in most of its stores following the holiday shopping season, indicating a potential pivot in product offerings.
This new Costco store in Lake Forest represents a notable development in the region, driving both retail expansion and potential economic benefits for the local community through increased sales tax revenue.
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