The new owner of the Safeway-anchored Kauai Village Shopping Center has hired Honolulu-based Commercial Consultants Inc. to handle leasing at the center and has plans to remodel the buildings’ exteriors.
News
Indoor trampoline park to open on Maui after leasing space
Ultimate Air Maui will be the fourth location for the Jonesboro, Arkansas, company, which has other locations in Jonesboro; Cape Girardeau, Missouri; and Stillwater, Oklahoma. AJ Cordero of Honolulu-based Commercial Consultants Inc. represented Ultimate Air in the transaction.
Keauhou Lane commercial space includes ‘eclectic’ mix of local businesses
At least five food-related tenants have signed leases for space there, including Uncle Bo’s restaurant; Real, a Gastropub; Hibachi; Tea Time and HICraft Kitchen, according to Brooks Borror, principal broker of Commercial Consultants Inc., which handled the leasing for developer Gerding Edlen.
“We really wanted local eclectic businesses,” Borror said. “National quick-service restaurants weren’t really the target.”
Ulta Beauty, Starbucks, Fork & Salad among tenants joining Target on Maui
Honolulu-based Commercial Consultants Inc. is handling the leasing for the 263,781-square-foot center at the Maui Business Park in Kahului owned by TRC, formerly known as Terramar Retail Centers, which also owns Laulani Village in Ewa Beach on Oahu and Hokulei Village in Lihue on Kauai.
Domino’s pizza opening first Kauai store at new shopping center
Domino’s pizza is opening what will be its first location on Kauai, at the Safeway-anchored Hokulei Village in Lihue.
Domino’s (NYSE: DPZ) signed a lease for a 4,000-square-foot space at the 124,000-square-foot shopping center, according to Brooks Borror of Commercial Consultants Inc., which is handling leasing for the shopping center. According to the Domino’s website, the company currently has no locations on Kauai.
4 new businesses coming to Hokulei Village in Puhi
LIHUE — Four new businesses, three restaurants and a retail store are coming to Hokulei Village shopping center, said Melissa McFerrin-Warrack, Hokulei Village local property manager.
Verde Restaurant could be opening as early as next month, McFerrin-Warrack said Thursday at the Verizon Kauai Chamber of Commerce Business After Hours at the Hokulei Village.
Kristen Yanagawa, more recently at Tapa’s in The Shops at Kukuiula, will be the executive chef at the Hokulei location, said Jessica Kerber of Verde Restaurant.
RadioShack to close another Hawaii store as part of bankruptcy issues
Brooks Borror, principal broker for Honolulu-based Commercial Consultants Inc., which mostly does deals at neighborhood shopping centers where most of the RadioShack shops are located, has told PBN that about 72,000 square feet of retail space would become available on the market in Hawaii if the plan to close stores moves ahead. The figure is based the average size of a store at about 3,000 square feet…
Fitness studio moving to new Keauhou Lane Shops in Kakaako
Sweat + Soul, owned by Melissa Rota, will join Down To Earth, which will anchor the Keauhou Lane Shops. PBN first reported about the local organic grocery store chain’s lease at the shops. The fitness studio is leasing 1,926 square feet at Keauhou Lane Shops, according to Commercial Consultants Inc., which is handling leasing for the shops.
Developer plans to sell prime land for shopping center development
“The trend to own versus rent began with big-box users such as Safeway, Foodland and Longs Drugs, amongst others, who opted to buy their own land and to build their own buildings,” Brooks Borror, managing partner of Honolulu-based Commercial Consultants Inc., which is marketing the sale of the property, told PBN. “Such occurred because of escalating shopping center rents and common area maintenance costs.”
Borror said that traditionally, retailers had to settle for a land parcel sizes that were too large or too small for their optimal building footprint.
“Typically, retailers would prefer being a part of an integrated mixed-use retail shopping center,” he said. “Sales volumes achieved in shopping centers are usually considerably higher than stand-alone operations.”
Borror said that numerous local, regional and national retailers have expressed an interest in buying smaller parcels that are “right-sized” for their use. Thus far, the company has signed letters of intent from a national fast-food restaurant chain, a national car rental company and a car-wash company for the smaller parcels. Another development possibility for the parcel could involve a hotel.
Nick Paulic, managing partner of Commercial Consultants, said that based upon the number of buyers in the initial round of marketing that there may be more than one phase of the project.
Planet Fitness expanding to Hawaii
Planet Fitness Inc. (NYSE: PLNT), which has more than 1,000 locations in the U.S., Canada and Dominican Republic, markets itself as a “judgement-free zone” that targets novice gym users. It is one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S. by number of members and locations.
The company will take up about 22,000-square-feet of space at the Puunene Shopping Center, which also will include Petco, Verizon, Supercuts, Maui Tacos and Massage Envy locations, Honolulu-based Commercial Consultants Inc., which represents the owner of the shopping center, told PBN.
Experts on how malls can thrive
Experts tell Pacific Business News that the constant evolution of the retail environment will require older malls to keep up with new shopping paradigms, especially with the emergence of the millennial generation and online shopping.
Massage Envy looking to expand to urban Honolulu
It is opening a new 2,100-square-foot spa at the Foodland Farms-anchored Aina Haina Shopping Center in East Oahu in May and is in the process of signing a lease on Maui, which would be its first Neighbor Island location.
Brooks Borror, principal broker for Honolulu-based Commercial Consultants Inc., which represents Massage Envy in its lease deals, told PBN that the company is interested in opening another location in the Ward Avenue/Kapiolani Boulevard area that would range between 2,200 square feet and 2,800 square feet.
The company currently does not have a presence in urban Honolulu, as well as in East Oahu, so Borror said both locations would fill voids for this type of use in these areas.
Massage Envy opening 4th Hawaii location; eyeing Maui
Founded in 2009, Massage Envy has more than 1,000 spa locations in the nation, making it one of the largest systems of franchised massage clinics in the industry, according to its website.
Honolulu-based Commercial Consultants Inc. represents Massage Envy in its real estate deals in Hawaii.
Organic food grocery store chain expanding to Kakaako
Down to Earth will be surrounded by outdoor seating on the pedestrian plaza in the middle of the project as well as on the perimeter along Keawe and Pohukaina streets, according to Commercial Consultants Inc., the leasing company for the project.
New 10-acre shopping center coming to Big Island
This will be the largest Malama Market in the state. The existing store closed for about three months in early 2015 due to the direction of lava flow from the Kilauea volcano and will be located to Puna Kai partly due to its higher elevation.
Other possible tenants at the shopping center could include a drug store, a theater and a medical facility as well as restaurants and retailers.
Honolulu-based Commercial Consultants Inc. is handling leasing for Puna Kai with Jon McElvaney, the local agent for CCI, doing on-site leasing of the center.
Two retailers opening at Kailua Shopping Center
Brooks Borror, managing director for Honolulu-based Commercial Consultants Inc., which represents AT&T in its real estate deals across the state, told PBN that AT&T is opening in the former GameStop space and GNC is moving into the former Bead It! space.
AT&T recently opened its second location in Hilo on the Big Island and has signed a lease to open at the Waialae Shopping Center in Kaimuki in East Oahu that is being redeveloped by Finance Factors.
Hawaii brewery up for sale
“It needs someone who has a sales and marketing background, who is familiar with the beverage industry,” DeMare told PBN. “In the last three years, we have built it up, but it needs to move into a different phase. We need the expertise that we don’t have.”
DeMare has enlisted Jon McElvaney of Commercial Consultants Inc. to market the sale.
“There has been tremendous response immediately after listing the [brewery], and the response continues to grow,” McElvaney told PBN. “The brewery produces, packages and distributes nine very popular local beers to hotels, restaurants, bars and grocery stores throughout the Hawaiian Islands.”
Mexican restaurant, mattress store opening at Kauai shopping center
“Sleep Train is in the initial stage of opening an additional location in Kauai,” Shauna Nuckles, spokeswoman for Sleep Train told PBN. “The first store will remain open. At this time, we don’t have details on an open date for the new store.”
Honolulu-based Commercial Consultants Inc. handles leasing for Hokulei Village. When reached by PBN, the firm said it wasn’t sure when Verde or Sleep Train will be opening there.
Tenants at the shopping center include Jack in the Box, American Savings Bank, Chevron, Petco, Subway, Supercuts, Panda Express, Verizon and Uncle’s Shaved Ice.
Another grocery coming to Honolulu’s Kakaako neighborhood
The planned grocery store will be surrounded by outdoor seating on the pedestrian paseo in the middle of the project, as well as on the outside perimeter of the project along Keawe and Pohukaina streets, according to Commercial Consultants Inc., the leasing company for the project.
“The leasing activity at the project has been brisk, and the project will provide many stores and services that are not currently available in Kakaako,” Brooks Borror, managing director of Commercial Consultants, told PBN.
He also said that, of the 7,500 units already existing, entitled or under construction in Kakaako, about 4,500 are located within a five-minute walk of the project.
Hawaii commercial real estate firms weigh in on the market
Looking back on the past year, what surprised you the most about Hawaii’s real estate activity in 2015?
There were no surprises.
— Joel LaPinta, Kennedy Wilson
How little $1 million buys in Hawaii — a one-bedroom condo or a fixer upper in Aina Haina.
— Steve Sombrero, NAI ChaneyBrooks
Its velocity.
— Brooks Borror, Commercial Consultants Inc.
Kamehameha Schools’ $90M mixed-use Kakaako project starting construction
A key part of the project will be the pedestrian paseo that will connect Keauhou Lane and Keauhou Place residential lobbies, the various restaurant and retail establishments and the Honolulu Authority for Rapid Transportation’s new civic center station.
Hawaii Architecture designed the project, while Hawaiian Dredging Construction Co. is the general contractor.
Commercial Consultants Inc. is handling leasing for the 32,000-square-feet of retail that is included in the project.
The Team Lally Real Estate Show with Brooks Borror and Nick Paulic of CCI Hawaii
The Team Lally Show with Adrienne Lally and Attilio Leoanrdi. We have Gabe Amey of Hawaii VA Loans for the VA Tip of the Week and Brooks Borror and Nick Paulic of CCI Hawaii to talk about Commercial Real Estate and current projects they are working on. Join us for an hour to learn more about real estate! – at KHVH News Radio
West Oahu retail center sold to Oregon investor for undisclosed amount
…Brooks Borror, principal broker for Honolulu-based Commercial Consultants Inc., told PBN that the deal closed in last month, and that it co-listed the property with Faris Lee Investments, the seller of the center, which is located across from the Kapolei Shopping Center.
CCI successfully re-tenanted the 9,555-square-feet of vacancy left by the Social Security Administration when the agency left the center in 2013.
The $8 million Social Security Administration building is part of the three-acre Kapolei Pacific Center near the Kapolei Regional Park, which was developed by Avalon Development Co. The Social Security Administration occupies the entire building as it meets its growing need for space.
Nick Paulic, a partner at CCI, told PBN that the new additions to the Halekuai Center include Anytime Fitness, The Barbershops, Aloha Subs, Amita Holistic Day Spa, Yogaloft Hawaii, MyCafe Hawaii and the Kapolei Salon.
“Leasing activity has remained strong over the last 12 months leaving only two spaces remaining of approximately 1,600-square-feet each,” he said.
A&B subsidiary eyeing land under Honolulu’s Manoa Marketplace
The shopping center, which opened in 1983, includes other such tenants as First Hawaiian Bank, Tokoname Restaurant, McDonald’s, Grylt, Subway and GNC.
A spokeswoman for A&B told PBN in an email that the company doesn’t comment on transactions it may or may not be pursuing.
Honolulu-based Commercial Consultants Inc., which handles leasing at the Manoa Marketplace, through its principal broker, Brooks Borror, declined comment.
Korean Restaurant Sikdorak Picks Windward Oahu for Second Location
The owner of the Korean restaurant Sikdorak plans to open a second location at the Times Supermarkets-anchored Kaneohe Shopping Center in Windward Oahu, the brokers representing the landlord confirmed to PBN.
The new 2,500-square-foot Sikdorak II restaurant, which will be located in the former Pet’s Discount space, is expected to open in the fourth quarter of this year.
Jon Bynes and Nick Paulic of Honolulu-based Commercial Consultants Inc. represented the landlord in the lease transaction, while Kwan Kuh represented Sikdorak owner Patrick Choi.
The original restaurant is located in the Samsung Plaza on Keeaumoku Street across from Walmart. It is open for lunch and dinner, lets customers cook their own food, and offers an all-you-can-eat, all-day special.
Earlier this year, the Kaneohe Shopping Center, which is located at 45-934 Kamehameha Highway between Keaahala and Paleka roads, added a CrossFit gym to its tenant mix. Its other tenants include Quiznos, Orange Tree Yogurt and H&R Block.
Massage Envy opening third Hawaii location, eyeing fourth spa
Founded in 2009, Massage Envy has more than 1,000 spa locations in the nation, making it one of the largest systems of franchised massage clinics in the industry, according to its website.
Honolulu-based Commercial Consultants Inc. represents Massage Envy in its real estate deals in Hawaii.
Answering A Doctor’s Desperate Call
Dear Pamela,
A great big APPLAUSE to Mr. Brooks Borror of Commercial Consultants Inc. My friend and I went to Manoa Safeway to purchase a cake and lei for a birthday party for our Child & Family Service health maintenance group (kupuna exercise group).
I must have lost my wallet somewhere between the cashier and the car. I discovered my loss as soon as we reached Manoa Gardens Social Hall. Needless to say, I was devastated, not so much for cash (which is important to an 89-year-old on fixed income), but for all the cards and IDs.
This was immediately reported to Manoa Safeway, my banks and the police. Much to my surprise, my wallet was delivered to my home that same day by Mr. Borror. He was kind enough to take the time after work to deliver it.
PBN’s Retail Roundtable: Relationships are key to winning in retail
Yeager was among eight authorities on the retail industry who gathered at PBN last month to talk story about one of Hawaii’s hottest business sectors. They talked about the need to be “vertical,” to understand and adapt to the changing demographics of the visitor industry, and to speak up against bad public policy. They discussed the impact of having hundreds of thousands of square feet of new retail space coming online within the next few years on Oahu alone.
Pacific Business News Retail Roundtable
PBN’s Retail Roundtable: Relationships are key to winning in retail
Mar 13, 2015, 12:00am HST
Tina Yuen PBN
Back row, from left, Dave Erdman, Pac Rim Marketing; Sam Shenkus, Royal Hawaiian Center; Randy Yeager, Honolulu Cookie Company; Bobbie Lau, Howard Hughes Corp.; Josh Feldman of Tori Richard and Sheri Sakamoto, Retail Merchants of Hawaii. Front row, Brooks Borror, CCI Hawaii and Kent Untermann, Pictures Plus. – Staff Pacific Business News
“Retail, in my view, is a very simple business,” says industry veteran Randy Yeager.
“It’s having a good product, presenting it well, and providing good service,” he says. “If you do that, there’s a market here and always will be.” Yeager was among eight authorities on the retail industry who gathered at PBN last month to talk story about one of Hawaii’s hottest business sectors. They talked about the need to be “vertical,” to understand and adapt to the changing demographics of the visitor industry, and to speak up against bad public policy. They discussed the impact of having hundreds of thousands of square feet of new retail space coming online within the next few years on Oahu alone. And they talked about relationships. Smart retailers are using a combination of social media, e-commerce and bricks and mortar to build long-term relationships with customers from throughout the world, they said. And, while retailing may not be as simple as Yeager suggests, many are finding that it can be very rewarding if done correctly.
________________________________________
Brooks Borror
Managing Director, Commercial Consultants Inc.
How property managers stay competitive
Essentially, when we go in to meet with a landlord of a shopping center, he wants to hear about our company and what we do different in property management. The first thing we do is a complete physical assessment of the property, and we try to identify where there might be any issues, including a need for an ADA study…
CrossFit Gym opens at Times Supermarket-anchored Kaneohe Shopping Center
- Duane Shimogawa
- Reporter- Pacific Business News
A CrossFit gym is opening at the Times Supermarket-anchored Kaneohe Shopping Center in Windward Oahu next month, a co-owner told PBN.
“We’re working on building out the space,” Sandy Johnson, co-owner of CrossFit K-Block, told PBN. “[The space] has been vacant for a while.”
Nick Paulic, partner of Honolulu-based Commercial Consultants, which is representing the tenant, told PBN that the 54,000-square-foot strip center recently signed a lease with CrossFit K-Block, which is owned by Johnson and Kalei Whittle, for the 3,316-square-foot space at the center.
“This addition to the center will fulfill a definite void in Kaneohe and will be a complementary use which will serve the market,” Paulic told PBN in an email.
The CrossFit program, which has gained popularity in Hawaii with several locations across the state, utilizes non-conventional exercising methods, without treadmills, stationary weight machines or mirrors.
Instead it has pull-up bars, barbells, kettlebells and wide-open spaces for squatting, running, jumping, lifting or throwing.
All CrossFit locations in Hawaii are separately owned and operated but affiliated with the brand.
Located at 45-934 Kamehameha Highway between Keaahala and Paleka roads, the shopping center’s other tenants include Quiznos, Orange Tree Yogurt and H&R Block.
Commercial Real Estate Transactions- CCI Ranks 12th in State
Ranked by Price.
THE LIST has ranked Commercial Consustants, Inc 12th in the State of Hawaii.
Ranked by Price, Transactions closed by Jan. 1, 2013 – Dec. 31, 2013.
CCI closed the Kihei Shopping Center on September 27, 2103 priced at $7,231,000.
Details
Location:
Kihei Shopping Center
1215 S. Kihei Road
Maui, HI 96753
Listing Agent:
Brooks R. Borror
brooks@cci-hawaii.com
Commercial Real Estate Firms- CCI Ranks 14th in State
CONGRATULATIONS TO COMMERCIAL CONSULTANTS, INC!
Ranked by PBN Score Matrix, THE LIST has ranked Commercial ConsuLtants, Inc 14th in the State of Hawaii in 2013.
Total Transactions:
75
Total Dollar Volume Lease/Sale:
$40,930,201
Total Square Feet Lease/Sale:
123,600
Total Acres Vacant Lease/Sale:
0
Agents:
Brooks R. Borror, Principal broker
brooks@cci-hawaii.com
Nick Paulic, Partner
nick@cci-hawaii.com
West Oahu retail center goes on the market during uptick in leasing activity
A West Oahu retail center that suffered a blow when a major tenant moved to its own facility nearby, but has since recovered, is on the market, the firm handling its leasing told PBN.
Brooks Borror, managing director of Honolulu-based Commercial Consultants Inc., said leasing activity has been so strong that the owner, California-based Faris Lee Investments, decided to put the 29,255-square-foot Halekuai Center in Kapolei up for sale.
Kapolei center seeks new anchor tenant
Article sourced by Duane Shimogawa Reporter- Pacific Business News
The Halekuai Center in Kapolei is looking for a major tenant to replace the U.S. Social Security Administration, which is preparing to move from its 9,555-square-foot second-floor space to its own 13,500-square-foot building nearby.
Commercial Consultants Inc. is the leasing firm for the 29,255-square-foot mixed-use center, which is located across Farrington Highway from the Kapolei Shopping Center.
Tenants include Papa John’s Pizza, Starbucks, Jamba Juice, Tiffany’s Nails, Chevron USA Inc. and Dental Perfections Inc.
The Honolulu-based commercial real estate firm said that Halekuai’s landlord is looking to fill the space within the next 60 days and is offering a “generous tenant-improvement allowance and free rent to a qualified tenant.”
The entire 9,555 square feet of space is available or it can be broken up into 1,500-square-foot increments.
“It’s good for a medical office [as an] anchor tenant,” Commercial Consultants Managing Director Brooks Borror told PBN.
Meanwhile, the $8 million Social Security Administration building, part of the three-acre Kapolei Pacific Center near the Kapolei Regional Park, is scheduled to be finished by the end of July, according to Steven Kothenbeutel, senior project manager for Avalon Development Co. LLC. Kapolei 60 LLC, a subsidiary of Avalon Development, owns the property.
The Social Security Administration will occupy the entire building as it meets its growing need for space, he said.
The Kapolei Pacific Center already is home to the 13,600-square-foot Cole Academy, a learning center for young children, and a future retail or office development.
“We’re looking at possible services that may work in tandem with the [Social Security Administration],” Kothenbeutel said. “It could be medical — we’re still in the planning phases.”
Central Pacific Bank to open at Manoa Marketplace
The 140,000-square-foot Manoa Marketplace, which is anchored by Safeway and Longs Drugs, also saw several new tenants open up recently, including GNC, Supercuts and Serino’s Manoa Pizza, said Brooks Borror, managing director for Commercial Consultants Inc.
“They join the other new tenants who have opened in the center in the past year, which include Tokoname Restaurant, Territorial Savings Bank, Baby Awareness and Globeteck,” he said.
Kihei Shopping Center Sold
Article sourced by mrea_CC of Maui Real Estate Advisors LLC on Wed, 10/09/2013 – 18:21
Kihei Shopping Center sold; ‘no big changes’
Ownership of the Kihei Shopping Center changed hands in a deal made last month, but there are “no big changes” planned for the 15 shops that currently inhabit the complex, brokers for the deal said Monday.
The shopping center is home to Amigo’s Restaurant, Rent-A-Center, Maui Brick Oven Pizza and a number of other stores. The center’s anchor store, Longs Drugs Store, and land owned by Longs Drugs Store and parent company CVS Caremark Corp. are not included in the sale.
“Everything will really stay the same. There are no big changes planned,” said Joseph Leonardo, a broker representing Kihei Maui Associates LLC, a group of Mainland investors who bought the center. “The owners bought it for a long-term hold . . . which just means as like a long-term investment. They view Maui as a very prosperous place. They’re not going to be selling it (Kihei Shopping Center) any time soon.”
The sale price for the shopping center was $7,231,000 for approximately 17,897 square feet in a deal finalized Sept. 27, according to a statement released by Joseph C. Leonardo & Co. on Monday. The group of associates is listed as incorporated in Florida, but reports a Missouri mailing address, according to state Department of Commerce and Consumer Affairs data.
For the past eight years, the center was owned by an affiliate of Kimco Realty, one of the largest real estate investment trusts in North America. But the corporation, headquartered in New York, is refocusing its efforts on other locations, according to a broker who represented it in the deal.
“They (Kimco Realty) are repositioning their portfolio and focusing their efforts more on the Mainland,” said Brooks Borror, managing director at Commercial Consultants Inc. “This is the last remaining asset they owned here in Hawaii.”
The shopping center had been on the market for about 60 days, Borror said, and there were several interested buyers. Kihei Maui Associates was chosen because “they had a reputation of being good buyers,” he said.
But for Frauke Woods, the owner of one of the center’s oldest establishments, it is also important that the new buyer put in face time.
“Kimco is an enormous company. They own properties all over the world,” said Woods, owner of Great Styles & Cuts. “This (Kihei Maui Associates) is a smaller group. It would be nice if they would take their vacation here, and we could have a chance to say hello in person and have a personal rather than long-distance relationship.”
Great Styles & Cuts was one of the original stores when the shopping center opened in 1991, though it operated as a Fantastic Sams back then. Woods said that the new owner, Kihei Maui Associates, is the third owner of the complex.
“It’s kind of a lively center because of Longs and all the restaurants that draw not just tourists but also locals,” Woods said. “There are also a lot of time-share and condo owners who are surprisingly loyal. They come every year since we opened. It’s a good place to form friendships.”
The new owners are open to the idea of maintaining if not a personal, then at least a “good” relationship with shop owners, according to Leonardo.
“They (Kihei Maui Associates) look forward to having a good long-term relationship with the tenants,” Leonardo said.
The UPS Store, Prudential Real Estate Office, Lighthaus Camera, OPI Nails & Spa, Sushi Paradise, Lotus Heart, Boss Frogs, Birkenstock Shoes, Antonio’s Restaurant, Snow Factory Maui and Maui’s Quality Dry Cleaning are other shops in the center.
Article First Published October 8, 2013, By Eileen Chao, Staff Writer, The Maui News, www.MauiNews.com.
Mainland investor buys Maui’s Kihei Shopping Center
Leonardo represented the buyer, whom he declined to name, in the sale. Honolulu-based Commercial Consultants Inc. represented seller Kimco Realty, which owns and operates North America’s largest portfolio of neighborhood and community shopping centers.
Brooks Borror, managing director of Commercial Consultants, previously told PBN that Kimco Realty was looking to exit the Hawaii market and focus on its Mainland properties.
Scoops: Who’s moving, buying, opening, changing, winning
Honolulu-based Commercial Consultants Inc. is marketing the fee-simple, 17,897-square-foot Kihei Shopping Center on Maui for Kimco.
The center at 1215 S. Kihei Road is home to Longs Drugs, Rent-A-Center, Birkenstock, Boss Frogs, Maui Brick Oven Pizza and Maui Dry Cleaners.
“Tenancy is stable and we signed five of the last 14 tenants in the last year,” said Brooks Borror, managing director for Commercial Consultants. “There’s only one vacancy [left].”
Kapolei center seeks new anchor tenant
Commercial Consultants Inc. is the leasing firm for the 29,255-square-foot mixed-use center, which is located across Farrington Highway from the Kapolei Shopping Center.
Tenants include Papa John’s Pizza, Starbucks, Jamba Juice, Tiffany’s Nails, Chevron USA Inc. and Dental Perfections Inc.
The Honolulu-based commercial real estate firm said that Halekuai’s landlord is looking to fill the space within the next 60 days and is offering a “generous tenant-improvement allowance and free rent to a qualified tenant.”
Shidler Group sells Kona business center
The Shidler Group has sold its only Neighbor Island property, the Gold Coast Business Center in Kailua-Kona, to a San Francisco-based real estate investment firm.
Fowler Property Acquisitions bought the 104,988-square-foot property, which consists of eight buildings, for $8.5 million, the Honolulu-based Shidler Group said Tuesday. Brooks Borror, formerly of Grubb & Ellis/CBI Inc., served as the broker for the transaction.