The former Costco Wholesale store in Salt Lake has been considered for use by prospective businesses ranging from warehouse users to such big-box retailers as Home Depot and Lowe's. Now Target is looking at the site.

The 131,000-square-foot building has generally gone unused since Costco closed its store there four years ago.

Costco showed that it could convert the largely industrial neighborhood into a vibrant retail spot when it opened in 1988. The 120,000-square-foot store was Costco's first in Hawai'i.

But since Costco closed the store in 2002 in a move to maximize sales with a bigger store and gas station in Iwilei, its former warehouse at Bougainville Industrial Park has been vacant.

Local development company The MacNaughton Group controls the site, part of which is on land leased from Kamehameha Schools. Jeff Arce, MacNaughton Group chief financial officer, said the company has had discussions with several prospective tenants that he declined to identify.

However, one person familiar with Target's efforts since the company in January confirmed it was actively searching for Hawai'i store sites said no deal had been reached, and that Target is exploring many potential locations, including a proposed shopping mall called Kona Commons scheduled to open in 2008 north of Kailua, Kona.

Target has said it will not confirm tentative store locations.

Local commercial real estate broker Steve Sofos, who is not involved in Target's examination of the Salt Lake site, said the property could suit the giant discount chain.

"They could easily move in there and be fine," he said. "That would be great. It would breathe new life into that whole area, because it's been dead since Costco vacated."

Reach Andrew Gomes at agomes@honoluluadvertiser.com.