NAI DESCO Completes 27.34-Acre Land Sale for New Costco Development in Lake St. Louis
ST. LOUIS, MO (August 2026) — NAI DESCO announced the successful closing of a 27.34-acre land sale for the development of a new Costco Wholesale location in Lake St. Louis, Missouri.
NAI DESCO broker Jeffrey Sanders represented seller MRNF, Inc. in the transaction, which closed July 6, 2026.
Located along Lake St. Louis Boulevard near Hawk Ridge Circle and Interstate 64, the property will accommodate a nearly 200,000-square-foot Costco facility. Plans include a traditional Costco warehouse as well as a Market Delivery Operations component designed to support local delivery of larger merchandise.
The closing represents the culmination of a long-term assignment for Sanders, who first met with a member of the ownership family in February 2019 regarding the property. The site was part of a larger 177-acre tract acquired by the seller in 1994. Costco submitted a letter of intent for the property in November 2024.
“This transaction was really about patience, trust and guiding our client through a very complex process,” Sanders said. “The ownership family is based in Bangkok, Thailand, so building that relationship from halfway around the world took time. It was extremely rewarding to help them navigate all of the hurdles and ultimately bring a project of this significance to closing.”
The transaction involved substantial infrastructure requirements associated with the development. Planned improvements to Lake St. Louis Boulevard include additional lanes, two signalized intersections and new roadway access. The process required engineering design, permanent and temporary construction easements and negotiations related to the improvements.
The road improvements are expected to progress alongside construction of the Costco development and must be completed before the store can open.
The site’s proximity to Interstate 64, combined with continued population growth in Lake St. Louis and surrounding St. Charles County communities, helped make the property attractive for the project.
“The impact goes well beyond the Costco site itself,” Sanders added. “A retailer of this scale can be a catalyst for commercial activity. We’re already seeing properties that sat vacant for years being purchased or placed under contract as businesses anticipate the additional traffic and growth this project will bring.”
The new Costco is planned as the sixth Costco location in the St. Louis region.
Broker Contact
Jeffrey Sanders
NAI DESCO
314.994.2325
jsanders@naidesco.com
About NAI DESCO
NAI DESCO is a St. Louis-based commercial real estate firm specializing in brokerage, property management, and investment advisory services across Missouri and Central and Southern Illinois. Since 2000, the firm has built its reputation on delivering results, earning client trust, and maintaining long-term relationships across office, industrial, retail, medical, and investment properties.
As a member of NAI Global, NAI DESCO combines deep local market expertise with the reach of a worldwide network of more than 325 offices and 5,800 professionals, completing over $20 billion in transactions annually.
Frequently Asked Questions
Who represented the seller in the Lake St. Louis Costco land sale?
NAI DESCO broker Jeffrey Sanders represented seller MRNF, Inc. in the 27.34-acre land transaction.
Where will the new Costco in Lake St. Louis be located?
The new Costco is planned along Lake St. Louis Boulevard near Hawk Ridge Circle and Interstate 64 in Lake St. Louis, Missouri.
How large is the Lake St. Louis Costco development?
The land sale included 27.34 acres. Current plans call for a nearly 200,000-square-foot Costco facility that includes a traditional warehouse and a Market Delivery Operations component supporting local delivery of larger merchandise.
When did the Costco land sale close?
The transaction closed July 6, 2026.
What road improvements are planned for the Costco development?
Planned improvements to Lake St. Louis Boulevard include additional lanes, two signalized intersections and new roadway access. The infrastructure improvements are expected to proceed alongside construction of the Costco development.
Why was Lake St. Louis selected for the new Costco?
The site offers convenient access to Interstate 64 and serves the growing population of Lake St. Louis and surrounding St. Charles County communities.
What impact could the new Costco have on surrounding commercial development?
The project is expected to serve as a major retail anchor for the area. NAI DESCO is already seeing increased activity on nearby commercially zoned properties as businesses anticipate additional traffic and continued growth in the corridor.
Download the official press release (PDF) for a printable version of this announcement.