Colliers International Negotiates $42.3M Sale of Flagship Walgreens in Honolulu

HONOLULU — Colliers International has arranged the $42.3 million sale of a flagship Walgreens store located across from Ala Moana Center in Honolulu.

The single-tenant, net-leased property was sold by an entity affiliated with Salem Partners and Argosy Real Estate Partners. Tom Lagos of Colliers International spearheaded negotiations on behalf of the buyer, a Los Angeles-based Korean investment fund. The transaction was structured as a reverse 1031 exchange, which required the buyer to park a grocery-anchored property located in California with an Exchange Accommodation Titleholder (EAT). This enabled the buyer to purchase the Walgreens site now, and complete the sale of the grocery-anchored center — Hacienda Plaza — at a later date.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties