Walmart has acknowledged plans to open a store in the former Macy’s store in downtown Honolulu.

The world’s largest retailer said today that it will open an 80,000-square-foot store next year, after remodeling the two-story retail space on King Street between Fort Street Mall and Bethel Street.

“We’re pleased to continue the retailing tradition at this prime business location in Honolulu’s downtown urban core,” Rey Armijo, Walmart’s Hawaii market manager said in a written statement. “We also look forward to serving the downtown community’s businesses, residents and tourists and helping save them money so they can live better.”

Walmart purchased the building and its connected parking structure from an affiliate of Lexington Realty Trust.

The Star-Advertiser reported last week that Lexington had received a building permit recently for what appeared to be a Walmart store.

But Lexington and Walmart representatives declined to confirm or comment on the plan previously.