City Council

5. GROUND LEASE BETWEEN THE CITY OF ESCONDIDO AND COSTCO WHOLESALE CORPORATION Request City Council adopt Resolution No. 2026-139, authorizing the Mayor and/or Authorized Officers to execute a lease agreement and related documents for a lease term of twenty years with seven, five- year options for Costco Wholesale Corporation (“Costco”). The property is Parcel 1 of the 8 distinct parcels comprising the North County Mall site at 272 East Via Rancho Parkway, Escondido. The property is currently leased to Transform Operating Stores LLC (“Transformco”) as successor-in-interest to Sears, Roebuck and Co. (“Sears”). Staff Recommendation: Approval (City Manager’s Office: Christopher McKinney, Deputy City Manager) Presenter: Christopher McKinney, Deputy City Manager a) Resolution No. 2026-139