A new shopping center on Maui anchored by a Target store is slated to open in March 2015.

Real estate development firm Property Development Centers announced today that it has reached an agreement to buy 24 acres of land from major Maui landowner Alexander & Baldwin Inc. for the project in Kahului.

The Star-Advertiser reported details of the Target-anchored plan last June as leasing efforts and land sale negotiations were under way.

The 275,000-square-foot complex called Puunene Shopping Center is designed to provide space for roughly 20 retailers and restaurants. The developer has not announced tenants other than Target.