East West Realty, Inc.

Hawaii’s Legacy Land Conservation Program helping secure 752 acres

The Hawaii Department of Land and Natural Resources’ Legacy Land Conservation Program is giving part of the money that will be used to purchase more than 750 acres of land deemed to have significant natural resources. The Legacy Land Conservation Program will give $3.3 million to acquire lands that are valued for archeological, cultural and natural resources. Each dollar from the state will be matched... [Read more...]

Castle & Cooke sells prime site with long term lease to Home Depot

Texas company buys prime site from Castle & Cooke Castle & Cooke Hawaii quietly sold a prime plot of land in Honolulu — specifically, the nine acres on which sits the Home Depot store in Iwilei — to a Texas company for $23.2 million this summer. The buyer, identified in the deed as HD Hawaii 421 Partnership Ltd. of Houston, is said to have been interested in buying the property for several... [Read more...]

Amerasian Land Co Inc. Sells Pepper Tree Apartments

Pearl Dragon LLC has purchased the Pepper Tree Apartments from Amerasian Land Co. Inc. for $5 million. The Aiea apartment complex consists of 40 two-bedroom units and eight one-bedroom units that are 95 percent occupied, according to Doug Davis Realty, which represented the buyer. Sale of Pepper Tree Apartments closed on July 30. Source: PBN SHARETHIS.addEntry({ title: "Amerasian Land Co Inc. Sells... [Read more...]

Hawaii Commercial real estate market shows signs recovery

Oahu’s commercial real estate market is showing signs of recovery, but it could take at least another year before it is back on firm footing. That’s the assessment of leaders of three large Hawaii commercial real estate companies as the industry moves into the final five months of the year. With commercial real estate taking a beating as Hawaii and the rest of the world struggled to survive the... [Read more...]

Hawaii’s largest owner of industrial land will change its name

Hawaii’s largest owner of industrial land will change its name next month to CommonWealth REIT, HRPT Properties Trust said Tuesday. HRPT Properties Trust (NYSE: HRP), which owns more than 400 acres of land in Hawaii, also said that as of July 1, its common shares would be traded on the New York Stock Exchange under the symbol CWH instead of the current HRP. The real estate investment trust also announced... [Read more...]

Hawaii commercial real estate sales drop

Investors spent a little more than $122 million on commercial real estate in Hawaii during the first quarter of this year, which was $12 million, or 9 percent, less than commercial sales a year ago, according to a new report. There were just 17 transactions of $1 million or more during the first three months of 2010, according to the report released Friday by Colliers Monroe Friedlander. The report... [Read more...]

Court rejects commercial tenant rent law

A judge rules that the law giving commercial renters greater power is unconstitutional A U.S. District Court Judge has struck down a Hawaii state law that gave commercial tenants greater leverage to negotiate rent with their Massachusetts-based landlord. Chief Federal District Judge Susan Oki Mollway ruled that Act 189, which was enacted in 2009, violated the U.S. Constitution and could not be enforced.... [Read more...]

Douglas Emmett to buy Bishop Square

Douglas Emmett Inc. has been selected to purchase one of downtown Honolulu’s largest office complexes. The Santa Monica, Calif.-based real estate investment trust is paying more than $200 million for Bishop Square, two towers that together measure 920,000 square feet, according to sources familiar with the deal. According to city tax records, the property’s assessed value is $244.8 million. It... [Read more...]

Waikoloa Highlands Center for sale $19.9M

Waikoloa Highlands Center on the Big Island is on the market for $19.9 million. The neighborhood shopping center, measuring 73,524 square feet, has 43 tenants and is anchored by Waikoloa Village Market, a subsidiary of KTA Super Stores. Owner 3-D Investments of California has traded offers with four prospective buyers, according to property broker Mark Bratton, who expects to sell the shopping center... [Read more...]

Waikiki Retail Building For Sale Fee Simple

The Waikiki building that is the home to the wildly popular eatery Eggs ‘n Things is on the market for $6.2 million. The building on Saratoga Road is part of a three-building complex totaling 4,705 square feet on a fee-simple parcel that measures 4,870 square feet. It’s owned by real estate investor Jay Shidler and his business partner, Ronald Petty. CB Richard Ellis has the listing. Eggs ‘n... [Read more...]

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