The recently redeveloped, former Costco Wholesale Corp. building on north Division Street has sold to a private investment group in California for $10.2 million.

The 86,500-square-foot building, located at 7619 N. Division, was part of a $15 million redevelopment project started last year by San Pedro, California-based Rich Development Enterprises LLC. 

The development company sold the building to Beverly Hills, California-based AVG Spokane Home LLC in late December.

A representative of AVG couldn’t be reached immediately for comment.

Plano, Texas-based At Home Stores LLC, a big-box chain that specializes in home décor products, signed a long-term lease to occupy the space last year. It opened in mid-April following a $1.3 million interior and façade remodel.

Lewisville, Texas-based Parkway C&A LP was the contractor on the remodel, and Pkwy Architects LLC, also based in Lewisville, was the architect.

Bill Asher, Jeff Lefko, and Ed Hanley, of Corona Del Mar, California-based Hanley Investment Group Real Estate Advisors, and Mark Thiel, of San Diego-based Marcus & Millichap, handled the sale of the At Home building.

At Home Stores currently operates 212 stores in 39 states and reported total annual revenue of $1.2 billion in 2018.

Separately at the site, Lehi, Utah-based commercial real estate investment firm The Cirrus Group currently is renovating the west side of the former Costco building into a new self-storage facility.

The space was originally about 47,000 square feet, James Thomson, managing director of The Cirrus Group says, and as part of the renovation a mezzanine level was added, bringing the total square footage to 95,100. 

It will have about 69,000 square feet of rentable space, says Thomson. That translates to just under 700 storage units that will range in size from 25 to 300 square feet, he says.

The climate-controlled facility will have state-of-the-art security equipment and key-pad entry, he adds.

The metal exterior of the building will be replaced and repainted.

Improvements of the storage facility space are expected to be completed in mid- to late March, Thomson says.

He adds that he expects the first floor to be open to clients at that time, but a delay in elevator permits has pushed the timeline for the second-floor opening to May.

Parkway Construction and Pkwy Architects are also the design-build team working on the $3.9 million renovation project, which will convert the space into an Extra Space Storage facility.

Salt Lake City-based Extra Space Storage Inc. is a national self-storage company that operates over 1,850 locations in 35 states, according to its website.

Cirrus purchased its portion of building under the Spokane Division FSSH LLC company for $2.2 million last summer, according to Spokane County Assessor’s Office records.

The Cirrus property wasn’t included in the sale to AVG.