LVMH Acquires Two Occupied Retail Assets in Waikiki for $72 Million

Waikiki, Hawaii — An entity controlled by LVMH Moet Hennessey Louis Vuitton and Mockingbird Interests Waikiki LLC has purchased two commercial units located at 2181 Kalakaua Ave. in Waikiki. The Hawaii-based Moore family trust sold the retail assets for $72 million. Bryan Ley of JLL, in collaboration with Avalon Commercial, represented the sellers in the deal. Cushman & Wakefield, with Sofos Realty Corp. as a local partner, originally listed the property in July 2017 with no asking price. The two units are currently occupied by Quiksilver and First Hawaiian Bank, the latter of which plans to relocate to 1958 Kalakaua Ave. in Waikiki. The assets are located across the street from Tiffany & Co.’s three-story flagship location at Royal Hawaiian Center, while Max Mara and the flagship Louis Vuitton store are located nearby.