REBusinessOnline

Cushman & Wakefield Chaney Brooks Brokers Sale of 56,250 SF Commercial Property in Honolulu

HONOLULU — Honolulu-based Cushman & Wakefield Chaney Brooks has arranged the sale of 1659 and 1673 Kapiolani Boulevard in Honolulu. Evershine acquired the two-parcel asset from a multi-seller group, including Seiju Co. Ltd., Maruito USA and TYA LLC, for an undisclosed price. Combined, the properties feature 56,250 square feet of commercial space. The assets are situated in the Kapiolani-Ala Moana corridor, which is transforming into a transit-oriented live, work and play district near …

Acquisitions, Hawaii, Office, Retail, Western

Garn Development Co. Acquires Land Parcel for Hotel Development in Kapolei, Hawaii

KAPOLEI, HAWAII — Garn Development Co. has purchased a 2.6-acre land parcel on Manawai Street in Kapolei on the island of Oahu for an undisclosed price. Garn Development plans to construct a limited-service hotel on the site, which is located within the 40-acre Leihano development. An affiliate of Kisco Senior Living is master developer for Leihano, a mixed-use development situated in the urban core of Kapolei. Slated to open in fall 2019, the four-story, extended-stay hotel will …

Acquisitions, Development, Hawaii, Hospitality, Western

Highridge Costa Cos., Coastal Rim Properties Break Ground on $130M Mixed-Use Seniors Housing Project in Hawaii

KAPOLEI, HAWAII — Gardena, Calif.-based Highridge Costa Cos., in partnership with Honolulu-based Coastal Rim Properties, has broken ground on Kulana Hale, a mixed-use and affordable seniors housing project in Kapolei, near Honolulu. Designed by SVA Architects, Hawaiian Dredging Construction Co. is building the property. Located at 1020 Wakea St., the $130 million project consists of three components — two 13-story towers and a single-story commercial space — to be built in three …

Development, Hawaii, Mixed-Use, Multifamily, Seniors Housing, Top Stories, Western

Hilton Grand Vacations to Develop 32-Story Resort in Honolulu’s Waikiki

HONOLULU — Hilton Grand Vacations Inc. (NYSE: HGV) has purchased a one-acre site in Honolulu’s Waikiki neighborhood with plans to develop a 32-story timeshare resort. The site currently houses King’s Village shopping center, Hale Waikiki Hotel and Prince Edward Apartments. Construction is slated to begin in the second quarter of 2019, with project completion in the first quarter of 2022. The property will include 191 timeshare apartment units, comprised of studios, one-, two- and …

Development, Hawaii, Hospitality, Top Stories, Western

Hunt Capital Partners, UHC Close $39M in Financing for Affordable Housing Development in Hawaii

KIHEI, HAWAII — Hunt Capital Partners, in partnership with Urban Housing Communities (UHC), has closed $26 million in federal low-income housing tax credit (LIHTC) equity and $12.9 million in Hawaii state tax credit equity financing for the construction of Kaiwahine Village in Kihei. This is the fourth partnership in Hawaii for Hunt Capital Partners and UHC. Located on the island of Maui, Kaiwahine Village will feature 118 affordable housing units for families earning up to 30, 40 and 60 …

Development, Hawaii, Loans, Multifamily, Western

CoastWood Capital Signs Four New Tenants to 150,000-Square-Foot Outlets of Maui

LAHAINA, HAWAII — CoastWood Capital Group LLC has signed four new tenants to The Outlets of Maui, a 150,000-square-foot, open-air shopping center in Lahaina. Waikiki Brewing Co. will open at the center, joining restaurant tenants such as Ruth's Chris Steak House and PI Artisan Pizza. The 3,940-square-foot brewpub will open this fall. Other tenants that will join the Outlets of Maui include: Kate Spade, which will open a 3,250-square-foot store this fall; Le Creuset, scheduled to open a …

Hawaii, Leasing Activity, Restaurant, Retail, Western

Alexander & Baldwin Acquires Three Shopping Centers in Hawaii for $254M

HONOLULU — Honolulu-based Alexander & Baldwin (NYSE: ALEX) has acquired three shopping centers located in Hawaii. Terramar Retail Centers LLC sold the properties for $254 million. The buyer also assumed $62 million in mortgage debt in the transaction. Acquisitions include Laulani Village, Hokulei Village and Pu`unene Shopping Center. Laulani Village is a 175,000-square-foot, community retail center located in Ewa Beach on the island of Oahu. Safeway, Ross Dress for Less, Petco and …

Hawaii, Retail, Top Stories, Western

Hyatt to Sell Three-Property Hotel Portfolio for $1B

CHICAGO — Hyatt Hotels Corp. (NYSE: H) has agreed to sell a three-property hotel portfolio to Host Hotels & Resorts Inc. (NYSE: HST) for approximately $1 billion. The transaction includes the Andaz Maui at Wailea Resort in Wailea, Hawaii, the Grand Hyatt San Francisco and the Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Fla. Hyatt will continue to manage the three hotels under long-term management agreements. The transaction is expected to close at the end of …

California, Florida, Hawaii, Hospitality, Illinois, Midwest, Southeast, Top Stories, Western

Jersey Mike’s Opens Restaurant on Military Base in Hawaii

OAHU, HAWAII — Jersey Mike’s Subs opened its first restaurant on a military base, with a new location at Schofield Barracks in Oahu. The company plans to open restaurants at two other military installations in 2018. The 490-square-foot sub shop, located in the Army & Air Force Exchange Service food court, is staffed almost entirely by local residents connected to service members at the installation. The Schofield Barracks location is the 54th Jersey Mike’s restaurant for …

Hawaii, Restaurant, Retail, Western

JV to Break Ground on Next Phase of 750,000 SF Shopping Center in Hawaii

KAPOLEI, HAWAII — DeBartolo Development, in partnership with OPTrust and the Department of Hawaiian Home Lands (DHHL), will break ground this month on the next phase of Ka Makana Ali’i, a more than 750,000-square-foot shopping center in Kapolei. Dubbed The Grove, the 109,000-square-foot phase will be home to healthy lifestyle retailers, restaurants and services, including Foodland Farms, Hawai’i Pacific Health and PetSmart. The Grove will be located adjacent to 24 Hour Fitness. The …

Hawaii, Retail, Western
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