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HawaiiInvestment salesNews

PRCP Acquires 70,000-Square-Foot Retail Property in Waikoloa, Hawaii 

by Hayden Spiess

Waikoloa, Hawaii — Pacific Retail Capital Partners (PRCP), with joint venture partners Starwood Property Trust and Taconic Capital Advisors, has acquired Kings’ Shops, a 70,000-square-foot retail property in Waikoloa on the Big Island. Tenants at the property include Tiffany & Co., Tommy Bahama, Tori Richard, Roy’s Waikoloa Bar & Grill, Foster’s Kitchen and A-Bay’s Island Grill. The buyers plan to make capital improvements at the center. This marks the second Hawaii property for PRCP, which also manages Queen Ka’ahumanu Center in Maui. 

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DevelopmentHawaiiMixed-useNews

PRCP Receives Rezoning Approval for Queen Ka’ahumanu Center in Maui

by Hayden Spiess

Maui, Hawaii — Pacific Retail Capital Partners (PRCP) has received approval from the Maui County Council for its rezoning application for Queen Ka’ahumanu Center, which was submitted on behalf of the property ownership. PRCP is the property manager for the shopping center, which totals 570,000 square feet of gross leasable space. PRCP submitted the rezoning application in conjunction with LNR, the CMBS special service for the ownership. The undisclosed owners plan to transform the property into a mixed-use development. 

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HawaiiLeasingNews

Three Retail Tenants Sign Leases at Ala Moana Center in Hawaii

by Hayden Spiess

Honolulu — Three new retail tenants have signed leases at Ala Moana Center, a 2.4 million-square-foot shopping center located in Honolulu. Footwear and apparel concept HOKA and watch retailer Panerai are both scheduled to open at the propery in May, with Cat Café Moff opening in June. Other recent tenant openings at the center include Canada Goose, Body Balance, KaiAloha Supply, Ringer Hut, Sugar Factory American Brasserie and Sweet As. Bloomingdale’s, Neiman Marcus, Nordstrom, Macy’s and Target anchor the property, which was originally developed in 1959. 

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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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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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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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