MAUI, HAWAII — Lowe’s has acquired an 11-acre site at Maui Business Park II in Kahului for $18.7 million. The property is situated in Maui’s retail and industrial core near Kahului Airport.
Lowe’s plans to build a 167,000-square-foot store on the site. The new property will be 16 percent larger than its current store in Kahului, which is leased from a third party.
Maui Business Park is anchored by Maui’s first Target store. Recent buyers within the park include the County of Maui, Servco Pacific, American Savings Bank, Pacific Pipe and Shelton Holdings (BMW). Maui Business Park I is home to Walmart, Home Depot, Costco, Sports Authority, Office Max, Kmart and Pier1 Imports.
The seller was A&B Properties, the real estate subsidiary of Alexander & Baldwin.