š¢ Big News: Costco is Coming to Otsego, Minnesota!
Exciting changes are on the horizon for Otsego and the surrounding communities! After much anticipation, it’s official — Costco will soon be opening a brand-new location right here in Otsego, bringing with it convenience, job opportunities, and increased interest in our local real estate market.
If you drove by the field last week (4/21/2025), you seen that the graders and diggers have arrived!
š Where It’s Happening
The new Costco will be located at the northwest corner of 60th Street Northeast (County Road 137) and MacIver Avenue Northeast, conveniently close to Interstate 94 and near the Albertville Premium Outlets. The development will cover a 25-acre site and is set to become a major retail anchor for the area.
š¬ What to Expect
Plans for the site include:
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A 164,000-square-foot warehouse store
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A members-only gas station with 16 pumps (32 fueling dispensers), with room for future expansion
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Two additional commercial lots (1.3 and 1.75 acres) earmarked for future development opportunities
This project is expected to elevate the retail landscape in Otsego and provide a fresh draw for both residents and businesses.
š Project Timeline
Construction began ~April 21st, 2025 with a grand opening anticipated by fall 2026. This is a LONG build! This timeline is dependent on road improvements along 60th Street Northeast, which Wright County has already slated for upgrades — a move that will support the increased traffic and infrastructure needs the new Costco will bring.
ā Official Approvals
The Otsego City Council gave the final green light for the project in July 2024, approving the final plat, site and building plans, and a conditional use permit. The only remaining step is the execution of a standard development contract, marking the final formality before construction officially begins.
š¼ Economic Impact
This exciting development is poised to generate a significant economic boost for Otsego and the surrounding area, creating 150 to 200 full- and part-time jobs and driving increased sales tax revenue for the city. Additionally, the planned road improvements and accompanying commercial developments promise to enhance livability and access for local residents.
š Thinking of Making a Move?
I have lived in this area where Costco is being built since 1999, I have proudly sold multiple homes in and around Otsego for Top $, always connecting our neighbors with 'the right buyer'. Over the past 25 years, I’ve seen firsthand how projects like this can elevate neighborhood desirability and property values, and I have many calling right now, asking what's available around this area to purchase.
If you’ve been considering a move — or if you’re curious what your home could command in today’s market — I’d be happy to connect with you Today. There are eager buyers willing to pay top dollar for the right property in Otsego and the surrounding communities.
While some are not so excited about a large big-box Retailer in the area, obstructing their current view or for other reason, many are into location, location, location, and looking to move closer to the new Costco.
Let’s find your next chapter together.
Zane Petersen - Certified LPS, CLHMS, PMP
Real Estate Specialist | Otsego, STMA, West Metro Minneapolis
Area Resident Since 1999
763.843.2905 | [email protected]
