KAPOLEI, HAWAII – A partnership between Angelo Gordon & Co. and Metric Holdings has acquired Kapolei Trade Center, a 221,000-square-foot industrial center, for $35 million. The property is located at 2045 Lauwiliwili Street inside the Kapolei Business Park in Kapolei.
The center includes 17 detached industrial buildings on 11.8 acres. It was built in 2008.
Kapolei’s seller, iStar Financial, initially acted as the project’s lender, taking control of the center in 2010. It was stabilized before iStar’s decision to sell the asset. The center’s listing agents are Guy Kidder and Scott Mitchell of Colliers International.
The partnership, called AG-Metric KTC Holdings, has previously acquired the former Hawaii Raceway, now known as Malakole Industrial Park.