By Joshua Burd
Costco has set its sights on Paramus, eyeing a site on Route 17 South where it would revitalize a property once home to Stop & Shop and Kmart.
Brokers with NIA National Realty highlighted the proposal last week, having arranged the 2021 sale of the parcel to Agus Holdings. They noted that the vacant retail complex houses 160,000 square feet that also included a bank and a dollar store, adding that the owner originally aimed to repurpose the structures with new tenants but paused the plan when Costco showed interest.
Paramus Mayor Chris DiPiazza wrote on Facebook late last month that the global warehouse retailer had submitted an application to the borough’s planning board. If approved, the store could open at 859 Route 17 South by spring 2026, according to NorthJersey.com.
“The pending redevelopment of this site by a prominent national retailer is another example of the strength and resiliency of the Paramus retail market, bolstered by the recent opening of the new Valley Hospital and buoyed by low vacancy rates along routes 17 and 4,” said NIA National Realty’s Roger Gross, who brokered the 2021 sale alongside Gregory Panayoti.
Costco’s plan calls for maintaining the footprint of the property, DiPiazza told NorthJersey.com, adding that the application does not include any gas stations. According to the report, Stop & Shop closed the Route 17 store in January 2022 after the supermarket chain reviewed the operating performance of its locations.
