Avalon Group, a real estate development, consulting, and sales company, has acquired the former Walmart property located at King and Bethel streets in Downtown Honolulu. The property was sold for $38.25 million and includes 87,000 square feet of store space and 454 parking stalls.

This is Avalon Group’s latest acquisition in Downtown Honolulu. The developer is also working on Modea, a 352-unit residential conversion of the Davies Pacific Center.

The prominent location at the corner of King and Bethel Streets positions the property in the heart of Downtown Honolulu, providing easy access to major business districts and government centers. The area is undergoing a renaissance, with new residential projects, restaurants, and retail stores, revitalizing the neighborhood for residents, workers, and visitors.