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Finance History|4401 Fourth Avenue South — A Warehouse With No Frills and a Membership Card
· 1983-9
Unreviewed contributionBy kevin · · Report an issue
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Finance History|4401 Fourth Avenue South — A Warehouse With No Frills and a Membership Card
kevin
9/15/1983
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People treat Costco as an Issaquah campus that later joined the Nasdaq-100.
The first warehouse opened on this industrial street.
On 15 September 1983 James Sinegal and Jeffrey Brotman opened Costco at 4401 Fourth Avenue South in Seattle.
The building had been erected for Western Marine Supply.
A newspaper advertisement the day before promised a 100,000-square-foot cash-and-carry warehouse with concrete floors and open ceilings.
Members paid an annual fee of 25 to 35 dollars in 1983.
The warehouse stocked a few thousand items at 8 to 9 percent over wholesale and did not advertise.
Price Club in San Diego had opened the warehouse-club format on 12 July 1976.
Costco merged with Price Club in 1993.
The first Seattle warehouse served as offices until 1987.
The 1983 building was demolished after a replacement warehouse opened on the adjacent lot in 2005.
The address stayed 4401 Fourth Avenue South.
The mechanism is membership plus a short list of goods, sold from a shed that refuses fixtures.
Photo: brewbooks, CC BY-SA 2.0, via Wikimedia Commons.
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