A subsidiary of Safeway Inc. plans to build a $50 million shopping center on an 11-acre site in Kapolei near the Honolulu Star-Advertiser printing plant and across the street from the Kapolei Commons shopping center.
The Honolulu Star-Avertiser reports that Property Development Centers, the real estate development arm of Pleasanton, Calif.-based Safeway (NYSE: SWY), plans to complete work on 117,000 square-foot Parkway Shops Kapolei, which will have between 20 and 25 tenants, next year. The newspaper reports Safeway, which has a store nearby in Kapolei, has yet to determine if it will have a store in the new shopping center.
Property Development Centers is currently building a Safeway-anchored shopping center on a 20-acre site in Ewa Beach called Laulani Village, as well as a new Safeway-anchored shopping center on Kauai called Hokulei Village.
The Safeway subsidiary also developed a Safeway-anchored shopping center on Kapahulu Avenue in Honolulu, near Waikiki, which it recently sold to Atlanta-based Invesco.