Summary
A 20-year ground lease with Costco is the first step toward a store at the old Sears site, projected to bring $2 million a year in sales tax and 300 jobs. Costco still must pass environmental review and entitlements.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Discussed at 1 meeting in the last 60 days; most recently Sep 8, 2026.
Impact analysis
About $100,000/year rent once a store opens, plus a projected $2 million+ in annual sales tax.
City taxpayers through new sales tax revenue and shoppers gaining a local Costco.
Some questioned the below-market rent and the three-year rent-free period.
Mentions & discussions (4)
Planning Commission Meeting — September 8, 2026
The 83-acre mall has been an economic anchor, but changing retail trends raise questions about its future. Commissioners want a broader long-term vision for the site, not just project-by-project decisions.
Council Meeting (Closed Session 4:30 PM) — August 12, 2026
A 20-year ground lease with Costco is the first step toward a store at the old Sears site, projected to bring $2 million a year in sales tax and 300 jobs. Costco still must pass environmental review and entitlements.
After many years, and false starts, Escondido finally gets its own Costco
After many years, and false starts, Escondido finally gets its own Costco Escondido Times-Advocate
Escondido agrees on lease for new, regional ag-tech hub
Escondido agrees on lease for new, regional ag-tech hub The Coast News Group
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