Walgreen Co., the nation's largest-selling drugstore chain, is moving forward with plans to open a store at Pearl Kai Shopping Center.

The store could open next year at the earliest, said Walgreen Co. spokesman Michael Polzin. Walgreens has signed a lease for the site, and the project is going through the permitting process, he said.

The planned store will take the place of the old Tower Records as well as the existing Pearl Kai Hair Styling and Club Festival, both of which will relocate within the shopping complex, said Pearl Kai Shopping Center property manager Garrett Littman.

The project involves demolishing those structures to make way for a new, free-standing Walgreens store, which will feature a drive-through pharmacy window.

Polzin said the Pearl Kai store is planned at 14,800 square feet, a typical size for new Walgreens stores. The store will have about 25 to 30 employees, most of them full-time, he said.

Walgreens hasn't yet set hours for the Pearl Kai store, although the company is considering operating the store on a 24-hour basis, according to a final environmental assessment on the project.

The environmental assessment listed an estimated construction cost of about $1.1 million.

Polzin said Walgreens doesn't release specific costs on projects, but that total costs for a new store, including the land, building, inventory and fixtures, typically amounts to a $3 million to $5 million investment.

Littman said Walgreens will likely attract more customers to Pearl Kai and said the project will result in a net gain of 15 parking stalls. He noted stalls are also available in the center's lower parking area and in an "overflow" back lot on Lipoa Place. He also said discussions are under way to acquire another overflow lot nearby.

There will be a dedicated lane for Walgreens' drive-through pharmacy window, Littman said.

Illinois-based Walgreens, which is in the middle of an aggressive expansion nationwide, has said it plans to eventually operate 25 to 30 stores in Hawai'i.

The company opened its first store at the old Tower Records location on Ke'eaumoku Street in November and expects to open stores at a former Star Market location in Kane'ohe and at the former Kam Bowl in Kalihi this year.

Walgreens also hopes to open a store in Lahaina by the end of the year, Polzin said.

Reach Lynda Arakawa at larakawa@honoluluadvertiser.com.