The Leased Fee under West Maui Center in Lahaina, Maui was just sold this past Friday! We received many offers which we leveraged to create a competitive bidding enviroment amongst the buyers.
Buyers across the country vied to provide a winning bid on this extremely rare ground lease. The compeititon drove up the price and drove down the rate of return. We only see a handful of these fee simple interest that are sold each year. We appreciate the opportunity to work with both parties.
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For more information, please visit the website here: http://5156khwy.com
| Asking Price: | Submit Offer |
| Tenure: | Fee Simple |
| Occupancy Status: | Owner Occupied – Delivered Vacant at Closing |
| Building Area: | 24,200 SF – Main Building (Two-Stories) 2,279 SF – Former Medical Clinic (Single-Story) |
| Land Area: | 60,890 SF |
| TMK No.: | (1) 3-6-11: Parcel 1 |
| Zoning: | B-1 (Neighborhood Businesses) |
Check out this month's Shopping Center Business, national industry magazine for this featured story! If you are interested in leasing opportunities at this BRAND NEW shopping center opening in October 2012, please drop a line on my contact form here: http://markbratton.com/contact
Waikiki’s prime rents have bounced upwards with a noticeable lack of supply and strong tourist traffic in Hawaii. See attached to read more about other prime shopping street around the world.
Over the past decade, automobile dealers have been aggressive buyers and
tenants on commercial real estate in Hawaii. With the contraction of
the automobile market, there is less demand from dealers for this real
estate. In 2010 automobile sales made a 11% recovery, but doing so on
much less land across the state.
