Safeway said today it has completed purchase of the land for its Hokulei Village shopping complex between Lihue and Puhi and is going forward with development of a new Safeway Lifestyle store and surrounding retailers. Sale of the property — a 22.8-acre commercial-zoned parcel at the corner of Kaumualii Highway and Nuhou Street owned by Grove Farm — was finalized last week.
Now Safeway needs to secure a couple of more tenants and according to the news release in today's Honolulu Advertiser, they are currently talking to fourteen potential tenants. If you look at the aerial overview below, you will see planned Hokulei Village on the left of the image. There are also a number of commercial lots for sale in what is known as Kukui Grove West. Despite the pricing correction that is happening in the residential market of Kauai, the commercial market is still strong because there is very little commercial space on this entire island.
It will be great to have another large supermarket in Lihue in addition to Star Market and Big Save. And then of course, there's Costco, whose prices are amazing but their selection is sometimes limited.
Read the article in today's Honolulu Advertiser, detailing Safeway's commitment to Hawaii and Kauai. Here's to the hopes that they are able to follow through in today's economic climate.
Ron Margolis, RA, CDPE, ABR Hawaii Life Real Estate Services 808.346.7095 email: firstname.lastname@example.org