Storage company to add facility in Pearl City

By Andrew Gomes
Advertiser Staff Writer

Storage facility developer Public Storage Inc. is adding to its Hawai'i operations with a sixth facility on O'ahu.

The storage facility giant, based in Glendale, Calif., earlier this year paid $4.4 million to acquire two acres of land in Pearl City from Home Depot, which was not using the property adjacent to its home-improvement store.

Home Depot broker John Dooling said Public Storage was considered an ideal user for the site because it is not a high-traffic business.

Representatives of Public Storage could not be reached. Dooling said he understood the company plans to build a three-story, 100,000-square-foot facility.

Home Depot originally tried to lease the property to electronics retailer Best Buy, but that deal fell apart last year. Home Depot acquired the site as part of nearly 14 acres it bought in May 2000, but needed only about 12 acres for its store and parking.

"It was surplus property from the beginning," Dooling said. "It was just a matter of finding the right purchaser."

Reach Andrew Gomes at 525-8065 or agomes@honoluluadvertiser.com.