Sale Closes on Parcel for Future Puʻunēnē Shopping Center, TargetNovember 8, 2013, 4:32 PM HST · Updated November 11, 1:45 PM 0 Comments
By Wendy Osher
The sale has closed on more than 24 acres of land in Kahului that is identified for development of the Puʻunēnē Shopping Center, and Maui’s first Target store, the developers announced.
California-based Property Development Centers today announced it has purchased the parcel from Alexander & Baldwin, Inc., with plans to sell nearly 12-acres for the development of Target, which will serve as the new shopping center’s anchor tenant.
In an earlier announcement, representatives with PDC said the planned Puʻunēnē 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.
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, they said.
According to the PDC announcement, construction will commence immediately on the parcel which is located at the corner of the Mokulele Highway and Hoʻokele Street in Kahului, with opening projected for March 2015.
“With this shopping center, Maui residents will have a variety of retail options to choose from, all conveniently located in the heart of Kahului,” said David Zylstra, chief operating officer of Property Development Centers in a press release statement.
“We are thrilled that PDC will be putting this parcel, with its ideal location, to good use, providing new retail options to the Maui community,” said Christopher J. Benjamin, A&B, Inc., president and chief operating officer in the joint announcement.
“This investment by PDC, with its strong track record of successful retail centers in Hawaii, confirms that Maui’s retail sector is strong and growing, to serve the needs of residents and visitors,” said Benjamin.
In addition to Target, the center will also offer shop space, pad and restaurant space, and mid box opportunities, the developers said.
Officials with Jones Lang LaSalle, the easing and property acquisition company for the project, report that they have already received requests from potential clients.