By Wendy Osher
A new shopping center planned for development in central Maui has identified retail giant Target as its anchor tenant.
The planned Puunene Shopping Center is projected to generate an estimated 250 construction jobs and bring up to 300 jobs to the area when it is fully occupied, according to an announcement today by Property Development Centers.
The real estate subsidiary of Safeway Inc., announced today that it has reached an agreement to acquire 24.45 acres from Alexander & Baldwin, Inc. for the planned development of the Puunene Shopping Center at the Mokulele Highway/Hookele Street intersection in Kahului.
According to the announcement, PDC will in turn sell an 11.88 acre portion of the site to Target, Inc., which will serve as the center’s anchor retailer.
In addition to projections for jobs in the area, the center will add approximately 275,000 square feet of retail space to Kahului, and will include an estimated 1,425 parking stalls, officials said.
In addition to Target, plans also include potential leases for a mix of national and local companies including mid-box retailers, specialty shops, restaurants and businesses, according to a news release.
“We have been receiving positive interest from potential tenants who see the benefits of the center’s convenient location in central Maui,” said Wendell F. Brooks III, senior vice president for CBRE. CBRE is reportedly handling the leasing and property acquisition on behalf of PDC.
The projected opening date for the center is March 2015, but the Pacific Business News is reporting that the opening could come as early as 2014. Authorities have since provided clarification that the March 2015 date is an accurate projection.
In a press release, David Zylstra, chief operating officer of Property Development Centers said, “This new retail center in the heart of Kahului’s retail district, is part of our ongoing commitment to provide new lifestyle shopping options for the Hawaii community.”