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The Honolulu Advertiser
Posted on: Friday, May 15, 2009

24 Hour Fitness expanding


By Andrew Gomes
Advertiser Staff Writer

Hawaii news photo - The Honolulu Advertiser

While a tenant has been found for its Pearl City site, CompUSA's former store in Kaka'ako, shown here, remains empty.

RICHARD AMBO | The Honolulu Advertiser

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A fitness club plans to move into one of Hawai'i's two former Comp-USA stores on O'ahu, while the other has drawn interest from a number of potential tenants including a film studio and a supermarket.

24 Hour Fitness has leased the former CompUSA store at Pearl Highlands Center in Pearl City with plans to open the chain's ninth club in the state by the end of this year.

The other former CompUSA store in Kaka'ako has received much interest from prospective tenants, but no deal has been reached with landowner Kamehameha Schools.

CompUSA closed its stores in early 2008 after the Dallas-based electronics retailer liquidated the last of what had been more than 225 stores nationwide following financial difficulties.

CompUSA opened the store at Pearl Highlands in 2005, after relocating from Waikele Center. 24 Hour Fitness plans to convert the store into a gym that will be one of the company's biggest in Hawai'i, with two levels and about 45,000 square feet.

Wendy Yellin, a 24 Hour Fitness spokeswoman, said the planned club will have the latest in exercise equipment and feature a pool, sauna, spa, full-size basketball court, dedicated cycling room and other amenities.

24 Hour Fitness has another gym not far away near Pearlridge Center, though Yellin said she wasn't immediately sure whether that location will stay open or be closed. The new club will be the first built by the company in Hawai'i in about eight years.

In Kaka'ako, CompUSA developed its store in 1998 on land leased from Kamehameha Schools. The private trust has marketed the 40,000-square-foot store on 3.3 acres of land for lease since last year. According to leasing agent Colliers Monroe Friedlander, the site is available for a seven-year term.

Colliers in a report said a variety of prospective tenants have expressed strong interest in the property, including a film studio and a supermarket.

Kekoa Paulsen, a Kamehameha Schools spokes- man, would not discuss the timing of a possible lease agreement or how it would fit into plans for redeveloping the surrounding area.

The trust is seeking state approval for a master plan to redevelop 29 acres in the area into a largely residential community with up to seven high-rise towers, including one slated for the block occupied by the old CompUSA store.

Construction on the master-plan project, dubbed Kaiaulu 'o Kaka- 'ako, or Kaka'ako Community, could begin as soon as late 2010 and start in the area of the CompUSA site and two blocks immediately mauka.

Paulsen said the trust's objective is to bring the best use — or mix of uses — to the property that advances the vision set forth in its master plan.