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Alexander & Baldwin will be building a new shopping center in the Maui Business Park, which will be anchored by a Safeway grocery store and gas station, the company announced Thursday.
The 94,000-square-foot Ho'okele Shopping Center will be located on the Paia side of the Hookele Street-Hana Highway intersection, A&B said. The center is on the opposite end of Hookele Street from Target and the Puunene Shopping Center.
Safeway inked a lease with A&B on Wednesday for the grocery store and fuel station on 57,400 square feet. There will be other yretailers and a drive-through restaurant, the A&B announcement said.
On Thursday, A&B spokesman Darren Pai said the lease terms with Safeway were not being released. He also said, "We have not yet finalized the estimated construction cost for the new shopping center."
Construction is expected to begin in the first quarter of 2018 and to be completed by the second quarter of 2019, the announcement said. A&B will hold the shopping center as part of its commercial real estate portfolio.
"Whether it's picking up groceries or filling up their tanks on the drive home, Safeway at Ho'okele Shopping Center will offer convenience and value for the residents of Central and Upcountry Maui," said Lance Parker, A&B Properties president. "We are excited to welcome Safeway as the centerpiece of this new project."
Maui appears to have a lot of empty commercial spaces, including at the Maui Mall; the Maui Lani Shopping Center, which includes a Safeway as its centerpiece; the Maui Marketplace, which has lost anchor tenants Lowe's and Sports Authority; and the Puunene Shopping Center with Target just down the street.
"I think we feel good about this project," Pai said. "Safeway is a strong anchor tenant that can attract other tenants.
"We feel very strongly this is going to be a successful project."
A&B will be presenting its 2016 report to investors on Tuesday.
Attempts to reach Safeway officials late Thursday afternoon were unsuccessful. There currently are four Safeway grocery stores on Maui, in Lahaina, Kihei and Central Maui.
* Lee Imada can be reached at leeimada@mauinews.com.