One of the three Sam’s Club locations in Alaska set to close this week is on track to become a new location of warehouse-store competitor Costco.

Representatives of Kirkland, Wash.-based Costco visited Fairbanks last week to assess the possibility of taking over the College Road store, according to a Monday statement from Fairbanks North Star Borough Mayor Karl Kassel’s office.

“Costco representatives met with Mayor Kassel and the borough’s Community Planning Department and they have entered into an agreement to occupy the former Sam’s Club facility,” borough officials wrote. “Costco emphasized that they are in the early stages of evaluating the property however they were optimistic that they could conduct due diligence on the property in order to receive the necessary approvals quickly.”

No specific timeframe for the location reopening as a Costco was mentioned.

Mario Omoss, Costco’s senior vice-president for the northwest U.S., said in the borough statement that the company is “excited with the prospect of coming to Fairbanks and will be working with the City and Borough to hopefully make that happen as soon as possible.”

Although two Walmart-owned Sam’s Clubs in Anchorage are among 63 of the company’s roughly 660 stores nationwide set to close Jan. 26, Fairbanks has been particularly hard-hit by the looming absence in its retail scene due to the absence of a local Costco.

The Alaska stores abruptly closed for a day on Jan. 11, reopening for a final two weeks in business with a series of storewide discounts.

The borough said the Fairbanks Sam’s Club occupies a 161,000-foot building, on a 12.4-acre property.

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