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The Honolulu Advertiser
Posted on: Wednesday, May 23, 2001

Home Depot giving up on 'superblock' deal

 •  Home Depot still seeks site in midtown

By Andrew Gomes
Advertiser Staff Writer

An early-stage deal has fallen apart for Home Depot to purchase the "Ke'eaumoku superblock" across from Ala Moana Center.

The nation's largest home-improvement retailer made a run at acquiring the site after the breakup of a long-negotiated purchase by Wal-Mart Stores Inc., which had hoped to build Wal-Mart and Sam's Club stores one on top of the other.

Home Depot spokesman Chuck Sifuentes said yesterday that after further study of development options, the nonbinding purchase agreement signed a few weeks ago wasn't going to work for the company.

Sifuentes would not discuss specifics, but said "it's a deal right now that makes no sense to us." Sifuentes added that the retailer remains interested in the property should terms change.

A representative of the "superblock" owner, the Wichman Family Trust, declined comment.