Local developer Christine Camp says her Avalon Development company is the new owner of the former Walmart building in downtown Honolulu.
Camp tells HPR the company just closed on a $38 million deal to purchase the facility.
She says Avalon will soon unveil plans for a combination of commercial, residential and recreation space. The property currently includes 87,000 square feet of store space and 454 parking stalls.
Walmart closed the store in April 2023, about 10 years after buying the building for nearly $29 million.
The closure of another grocery store and pharmacy marked a loss in an area trying to draw more families and working professionals.
Developers like Douglas Emmett and Avalon have completed or are in the process of converting office towers into residential buildings — a lasting effect of the work-from-home movement during the pandemic.
In early 2023, Avalon said it also purchased Davies Pacific Center, a 1970s-era building that many powerhouse law firms and businesses called home. The developer has been turning 17 floors into residential condos for sale.
