With Hawaiian acquisition, Benderson Development now in 41 states

Benderson Development now has a presence in 41 states. The east Manatee County-based real estate company and landlord has purchased a Home Depot property in Honolulu, Hawaii. Financial terms of the deal were not disclosed.

The store spans 130,000 square feet and comes with an adjoining two-story parking structure with more than 600 spots. Across the parking lot is Costco, the company's top-volume store in the U.S., according to a statement. The Port of Honolulu is also nearby.

“Expanding into Hawaii is an exciting milestone for our company,” Benderson Development Managing Director Randy Benderson says in the statement. “We’ve built our business by recognizing strong real estate opportunities and taking a very long-term approach to ownership. This acquisition reflects that strategy and opens the door to new opportunities in the Aloha State.”

The Honolulu Home Depot is located at 421 Alakawa St. on the island of Oahu. According to Honolulu property records, the 9-acre property sold for $42 million in 2019 and is leased by Home Depot. Records have not been updated to reflect the latest sale.

Acquisition of the Honolulu Home Depot site comes a couple of months after Benderson spent nearly $37 million buying retail properties across Sarasota, Pinellas and Lee counties, including a $9.5 million Lowe’s in Estero.

Founded in 1949, Benderson Development has more than 1,000 properties in its portfolio, encompassing more than 58 million square feet across 41 states. In addition to its Manatee County headquarters, the company has offices in Rochester and Buffalo, New York.