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Lahaina, Hawaii — An affiliate of U.S. Realty Partners has sold a two-property retail portfolio in Lahaina to 11North Partners for $155 million.
The portfolio includes:
- Lahaina Cannery, a 145,839-square-foot retail center located at 1221 HI-30. The property was more than 95 percent leased at the time of sale. Current tenants include Safeway, Longs Drugs, Starbucks Coffee, First Hawaiian Bank and Jersey Mike’s Subs.
- Lahaina Gateway is a 136,045-square-foot property at 325 Kaewe St. Tenants at the center include Woodland Farms, Ross Dress for Less, Ace Hardware, O’Reilly Auto Parts, T-Mobile, Central Pacific Bank and Maui Powerhouse Gym.
Bryan Ley and Tim Kuruzar of Northmarq, along with Jamie Brown of Hawaii Commercial Real Estate, brokered the sale. Additionally, Northmarq’s Joe Giordani, Alex Kane and Matt Radich arranged $96 million in acquisition financing through PNC Bank.