SRS Negotiates $50.3M Sale of Life Sciences Property in Honolulu
HONOLULU — SRS Real Estate Partners has arranged the leasehold ownership sale of a single-tenant life sciences property located at 93-193 Aiea Heights Drive in Honolulu. iStar, a REIT based in New York City, sold the asset to a private investor for $50.3 million. John Redfield of SRS’ National Net Lease Group represented the buyer and seller in the deal.
Built in 1975 and renovated in 2016, the four-story, 81,596-square-foot property sites on 2.7 acres. Clinical Labs of Hawaii occupies the property on a long-term, triple-net lease whereby the buyer acquired the leasehold interest subject to a long-term ground lease.