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Showing posts from August, 2017

Hawaii Tokai College's high-rise tower sold for $35M

A Japanese college's vacant high-rise tower along Kapiolani Boulevard in Honolulu that has been on the market for several years has been sold for $35 million.
The Hawaii Tokai International College, which moved its campus to Kapolei in West Oahu, sold its Honolulu building that overlooks Waikiki to a joint venture involving California real estate investment firm Kennedy Wilson and former Hawaii hotel executive Ben Rafter. The sale of the 172,000-square-foot building at 2241 Kapiolani Blvd. closed on Monday.  It originally had an asking price of $42 million. The property has a total assessed value of about $37 million. Several investors looked at buying the Tokai property, including those from China and here locally.  It's not clear as to what the new owners plan to do with the building that occupies a roughly 35,000-square-foot lot.  Current zoning doesn't allow for a hotel on the property, but other options could include re-opening it for educational uses and student dorm…

Burger and burrito joint opens 1st restaurant in Honolulu

A burger and burrito eatery that made its name at farmer's markets and other events on Oahu, has recently opened its first brick-and-mortar space on Kapahulu Avenue in Honolulu.
This week, Beyond Burgers Hawaii LLC quietly opened Burgers & Burritos Hawaii inside a space at 760 Kapahulu Ave. Beyond Burgers, headed by Jonathan Hedrick, plans to hold a grand opening for its new digs sometime next month. Beyond Burgers serves Big Island grassfed beef and other local products, as well as burritos and tacos. One of its signature dishes is its all-beef bacon-wrapped hot dogs.

Iconic Father Damien Statue at State Capitol to undergo a renovation

Japanese conglomerate buys land near Hawaii Convention Center

A Japanese conglomerate has purchased a half-acre parcel of land near the Hawaii Convention Center in Honolulu for 8.3 million.
Kinoshita Real Estate LLC, a subsidiary of Tokyo's Kinoshita Group, which has companies in such industries as film and music production, cosmetics and broadcasting, closed on its purchase of the Hawaii property in June. The property, which is located on Kalakaua Avenue, could be developed into a high-rise condominium tower. The seller was 1700 Kalakaua LLC, which is headed by Mark Borneleit, who purchased the 22,664-square-foot parcel in 2016 from a Japanese company for $7 million. Soon after that purchase, he put the land up for sale with an asking price of $8.6 million. Located at 1617 Fern St., the vacant lot is at the corner of Kalakaua Avenue and Fern Street. The sale includes highly coveted sewer credits that total more than $1 million. In the past, there were plans to build a high-rise mixed-use project on this parcel.  The Kinoshita Group has more…

Ross Dress for Less opening new store at Windward Mall

Lululemon's kids brand closes its Ala Moana Center store

Lululemon's children's active-wear retailer has closed its only Hawaii store at Ala Moana Center in Honolulu.
Ivivva opened its first store in the state in 2014 at the corner of Kapiolani Boulevard and Pensacola Street in Honolulu but moved its store to Ala Moana Center nearby. On Sunday, Ivivva by Lululemon closed its store at the state's largest shopping center on the mall's third level of the new Ewa wing near Bloomingdale's. Another Lululemon brand — Kit & Ace — also closed its store at the mall's Ewa wing after being open only for a short period of time. The Ivivva brand, created by the popular women's active-wear retailer, has been around for about five years. Canada-based Lululemon still has a big presence in Hawaii with stores at Ala Moana Center, the Waikiki Shopping Plaza and one at Whaler's Village in Lahaina on Maui.

Burger King opening restaurant near Ala Moana Center in Honolulu

Burger King is opening a new restaurant near Ala Moana Center in Honolulu.
The fast-food giant is taking over the former Hawaiian Telcom space on Kapiolani Boulevard that's next to Thank Q Pocha restaurant. Burger King currently has 21 locations on Oahu alone, making this restaurant the 21st of its kind on the island. The Miami, Florida-based company, known for its flame-broiled hamburgers, has more than 15,000 locations in more than 100 countries.

Engineering firm buys Hawaii souvenir giant's headquarters

Geolabs Inc., a Honolulu-based geotechnical engineering firm, has purchased The Madden Corp.'s headquarters in Waipahu for $10.8 million.
The deal closed in July with Colliers International Hawaii representing the seller — The Madden Corp. Located on Koaki Street, The Madden Corp. put its headquarters up for sale in 2016. The Hawaii-based company sells such souvenir items as calendars and mugs under its Island Heritage brand. The 47,680-square-foot building that's situated on more than 57,000-square-feet of land in the Mill Town Center Business Park, has a replacement cost of about $16.5 million. Geolabs, which has three locations, including one in Honolulu on Kalihi Street, as well as on Maui and in Oakland, California, was established in 1975.  The company has worked on many high-profile projects in Hawaii, including the International Market Place in Waikiki, Ala Moana Center, Moana Pacific high-rise condominium and Kahului Airport.

Scratch Kitchen & Bake Shop is up for sale