Costco Acquires 55-Acre Site in Fort Myers, Marking One of Southwest Florida's Largest and Highest-Value Land Sales

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FORT MYERS, Fla., May 13, 2026 /PRNewswire/ -- Costco Wholesale has acquired a 55-acre development site at the signalized intersection of Colonial Boulevard and Plantation Road, with additional frontage along Metro Parkway—marking one of the largest and highest-value land sales in Southwest Florida history. The transaction was brokered by Chuck Mayhugh and Chase Mayhugh of Mayhugh Commercial Advisors, who represented the seller. The property traded at approximately $23 psf which translates to a overall purchase price of $55 million, setting a record on a per-acre basis for a tract exceeding 25 acres in the region. Why Costco Chose This Fort Myers SiteCostco selected this location after evaluating multiple sites across the Fort Myers market, ultimately choosing it for its superior infrastructure, high visibility, and ability to support a modern, high-efficiency retail layout. The site offers: Combined traffic counts exceed 100,000 vehicles per day, providing the scale and accessibility required for a high-volume retail destination. "Costco's site selection process is extremely thorough, and infrastructure was the defining factor here," said Chuck Mayhugh. "This property offered the roadway network, access, and scale needed to support their long-term vision. It stood out clearly against competing sites." Unlike older, more congested locations, the new development will feature: "This site allows Costco to build a next-generation store designed around efficiency and safety," said Chase Mayhugh. "The ability to control access from Colonial, Plantation, and Metro Parkway creates a significantly better customer experience and operational flow." A Strategic Deal Structure That Drove ValueWhile Costco initially sought a smaller footprint of approximately 25 to 30 acres, the seller required the full 55-acre parcel to be sold as a single transaction, declining multiple offers from developers and retail strip centers. This approach ensured: "We had strong interest from multiple groups looking to break the property up," added Chuck Mayhugh. "But selling it as one site allowed for a much more strategic outcome and ultimately attracted a world-class buyer like Costco." Regional Impact: A Catalyst for Growth in Southwest FloridaThis transaction represents more than a land sale, it signals continued inst...

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