Costco buys 150 acres formerly slated for Hines business park

Issaquah, Washington-based Costco Wholesale Corp. (Nasdaq: COST) has purchased land in Katy from Katy Partners Ltd., according to Waller County records.

The land previously was slated for Pintail Crossing Business Park, which Houston-based Hines was planning to develop in partnership with Katy Partners. Hines announced in a Dec. 17 press release that the companies sold the 150-acre site to an undisclosed buyer.

The buyer plans to use the land to develop and own a large-format distribution center,…