This Wholesale Store Is Expanding In MoCo

SILVER SPRING, MD — The Viva White Oak development has clinched a new win: landing Costco.

The wholesale store announced in a Monday release that it would serve as the first official anchor of the 280-acre, mixed-use district.

Baltimore-based developer MCB Real Estate is behind the Viva White Oak project.

“VIVA White Oak is positioned to become the region’s premier retail destination, anchored by brands that move markets,” said MCB Principal Drew Gorman.

“This announcement shows that national retailers and regional anchors, and high performing restaurants know the value of this location and that this project is a smart investment for long-term value.”

Costco's partnership with the development will mark the store brand's third location within Montgomery County, with locations already established in the Gaithersburg and Wheaton areas.

The Viva White Oak development is adjacent to the headquarters of the U.S. Food and Drug Administration and the Adventist HealthCare White Oak Medical Center.

The announcement comes after the long-planned development received unanimous backing from the Montgomery County Council for its first tax increment financing agreement with MCB Real Estate.

The resolution allows the developer to use future property tax revenues to fund the construction.

While the development remains in its early stages, a full buildout of the project is not expected until 2043.

MCB Real Estate estimates the project will generate $62 million in annual revenues for the county, of which $33 million will come in its first phase.