In April, 1992, G&S contracted an 18 acre parcel of land located on Nicolls Road in Holbrook, New York. The property was zoned industrial. Our project team immediately began working with the Town of Islip to create a mutually beneficial use for the parcel. In May 1992, G&S received approval from the Planning Board to proceed with a retail use consisting of a wholesale club and restaurant. After continued collaboration, the application went before the Town Board on August 6th and on October 13, 1992 we received final site plan approval to proceed with the development.

The Price Club (now Costco Wholesale) opened a facility on Nicolls Road on August 14, 1993 with initial sales volume exceeding $90 million. In 1999, G&S applied to rezone a 3-acre out-parcel and acquired permits to build and lease what is now a 28,000 sq. ft. Circuit City store.

Price Club and Circuit City created 500 temporary jobs during their construction periods plus 260 permanent full-time and part-time retail positions. The development of these projects had two major tax impacts for the community. First, Costco generates significantly higher real estate taxes than did the underdeveloped industrial land. In addition, its mature sales volume of approximately $180 million annually generates $12 million in sales tax dollars each year. G&S subsequently sold the wholesale club to the tenant and the Circuit City store to an investor.