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Cushman & Wakefield Arranges $100 Million Refinancing for Grocery-Anchored Retail Center Portfolio

by Hayden Spiess

Austin, Texas — Cushman & Wakefield has arranged $100 million in refinancing for a portfolio of grocery-anchored retail centers on behalf of the borrower, Austin-based Epic Real Estate Partners. Totaling 625,000 square feet, the portfolio includes Eagan Towne Center in Eagan, Minnesota; Ventana Village in Tucson, Arizona; Preston Trail Village in Dallas; Kauai Village in Kapa’a, Hawaii; and Cobbler Crossing in Elgin, Illinois. The properties, which were 93.2 percent leased at the time of sale, are anchored by Cub Foods, Kroger, Bashas, Safeway and Jewel Osco. Beth Lambert, Chase Johnson, Caleb …

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ArizonaCompany newsDevelopmentFloridaHawaiiNewsRestaurants

Pepper Lunch Signs Deals to Open 20 Restaurants in Florida, Hawaii

by Hayden Spiess

Japanese fast-casual concept Pepper Lunch has signed two deals to open 20 restaurants in Florida and Hawaii. The first agreement includes plans for 10 units in Florida in the Tampa, Orlando and Gainesville markets. The Majestic Restaurant Group will operate the restaurants, with the first opening scheduled for the third quarter of 2024. In Hawaii, NiKU LLC will develop an additional 10 restaurants. The opening of the first unit is scheduled for the first quarter of 2025, with initial development focused on Honolulu and the greater island of Oahu. Established …

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HawaiiInvestment salesNews

CBRE Brokers $8.3 Million Sale of Pahoa Marketplace in Hawaii

by Hayden Spiess

Pahoa, Hawaii — CBRE has brokered the $8.3 million sale of Pahoa Marketplace, a retail center located in Pahoa on the island of Hawaii. Built in 2004, the property comprises 43,330 square feet situated on 8.4 acres. Jim Shipman and Matt Bittick of CBRE represented the seller, Walker Apartments, in the transaction. 

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HawaiiLeasingNews

Four Tenants Sign Leases at Ala Moana Center in Honolulu 

by Hayden Spiess

Honolulu — Four new tenants have signed leases at Ala Moana Center, a shopping center featuring more than 350 retailers located in Honolulu. Alo Yoga has opened at the property, and Marni is scheduled to join the lineup later this month. Restaurant Texas De Brazil and fitness concept Lagree Oahu will also open in December.  

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Company newsHawaiiNews

PRCP Launches #ExtendAloha Campaign to Benefit Maui 

by Hayden Spiess

Lahaina, Hawaii — Pacific Retail Capital Partners (PRCP) has launched an effort to raise funds and awareness for those affected by the recent wildfires in Lahaina on the island of Maui. Dubbed #ExtendAloha, the campaign encourages donations to the DTL Foundation’s dedicated Maui Fire Relief Fund. PRCP manages Queen Ka’ahumanu Center on the island and has agreed to match the first $10,000 raised. Donations can be made at dtlfoundation.org/mauifire.

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HawaiiLeasingNews

Six New Tenants to Open at Ala Moana Center in Hawaii

by Hayden Spiess

Honolulu — Six new tenants are set to join Ala Moana Center, a 2.3 million-square-foot regional retail center located in Honolulu. Jack-in-the-Box, boutique Mahina and restaurant Yung Yee Kee Dim Sum will open at the property in August. Frozen yogurt concept Yoajung and eyewear brand Quay will also lease space at the center beginning in September, with Yeti scheduled to open a store this fall. Renovated in 2015, the property sees more than 53 million visitors each year. 

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Grocery-anchoredHawaiiInvestment salesNews

Watumull Properties Corp. Purchases Niumalu Marketplace in Hawaii for $66 Million

by Hayden Spiess

Kailua, Hawaii — Watumull Properties Corp. has purchased Niumalu Marketplace, a 205,000-square-foot retail center located in Kailua on O’ahu, for $66 million. Safeway anchors the property, which is situated on 20 acres. Wendell Brooks and Kimo Greenwell of JLL will handle leasing at the center, and Big Island Colliers’ Hawaii office will provide property management services.

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Grocery-anchoredHawaiiInvestment salesNews

JLL Arranges $37.3 Million Sale of Western Maui Shopping Center

by Hayden Spiess

Lahaina, Hawaii — JLL Capital Markets has arranged the sale of Lahaina Gateway, a retail center comprising 135,996 square feet in the West Maui community of Lahaina. U.S. Realty Partners Inc. acquired the property for $37.3 million. Bryan Ley, Gleb Lvovich, Geoff Tranchina and Keenan Sue of JLL represented the seller, an institutional investment firm, in the transaction. Anchored by Foodland Farms, Ace Hardware and Ross Dress for Less, the property was 77 percent occupied at the time of sale, with upcoming leases that will bring occupancy to 90 percent. …

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HawaiiInvestment salesNet leaseNews

SRS Brokers $5.5 Million Sale of Cost-U-Less Occupied Retail Property in Hilo, Hawaii

by Hayden Spiess

Hilo, Hawaii — SRS Real Estate Partners has arranged the sale of a single-tenant retail property located at 715 Kinoole St. in Hilo. A mainland-based private investor acquired the asset from a Hawaii-based private investor for $5.5 million. Cost-U-Less, a warehouse-style retail chain, occupies the 23,016-square-foot building, which was built in 2002. Nicholas Paulic, AJ Cordero, Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller in the transaction.

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DevelopmentHawaiiNews

KZ Companies Breaks Ground on 45,737-Square-Foot Ho’omaka Marketplace in Kapolei, Hawaii

by Katie Sloan

Kapolei, Hawaii — KZ Companies has broken ground on Ho’omaka Marketplace, a retail development located at the corner of Kapolei Parkway and Kualakai Parkway in Kapolei. Longs Drugs, HELE Gas, Chick-fil-A and 7-Eleven will anchor the 45,737-square-foot shopping center. The property will feature units ranging from 954 square feet to 4,008 square feet, plus a 15,000-square-foot anchor pad. Ho’omaka Marketplace is designed to provide an economic future for native Hawaiians who live in Kapolei, according to KZ Companies All money generated through the ground lease proceeds will benefit Kapolei Community Development …

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