DOCSLIB.ORG

Offering Memorandum

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Offering Memorandum OFFERING MEMORANDUM HALEKUAI CENTER 563-565 FARRINGTON HIGHWAY, KAPOLEI HAWAII PRICE: $17,500,000 Shadow Anchored Retail Center in High Growth Location OFFERING MEMORANDUM Table of Contents Exclusive Advisors INVESTMENT SUMMARY PAGE 3 This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 563-565 Farrington Highway, Kapolei PROPERTY INFORMATION PAGE 5 Hawaii. It has been prepared by Colliers International. This Offering Memoran- dum may not be all-inclusive or contain all of the information a prospective MARKET OVERVIEW PAGE 9 purchaser may desire. The information contained in this Offering Memoran- dum is confidential and furnished solely for the purpose of a review by a COMPARABLES PAGE 14 prospective purchaser of the Property. FINANCIAL OVERVIEW PAGE 22 For further information regarding the purchase and sale of this asset, to register to receive due diligence materials, schedule a tour, or to submit a bid, TRANSACTION GUIDELINES PAGE 26 please contact the following Colliers International professionals: SKIP ROTTICCI BROOKS BORRER 503 499 0062 808.529.0001 PORTLAND, OR CCI HAWAII [email protected] [email protected] NICK PAULIC AJ CORDERO 808.529.0001 808.529.0001 CCI HAWAII CCI HAWAII [email protected] [email protected] HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 2 > Investment Summary INVESTMENT HIGHLIGHTS Investment Summary Halekuai Center is located near the hard corner intersection of Farrington Highway (31,300 vehicles per day) and Fort Barrette Road/ State Highway 901 (16,200 vehicles per day). The subject property is located just opposite to the Kapolei Shopping Center and Kapolei Marketplace, anchored by Safeway Supermarket and Longs Drug Store, all creating strong co-tenant synergy. TheBus has a stop at the Halekuai Center, which increases pedestrian traffic flow and consumer spending at this property. It stops every hour from 4:30am – 10:45 pm. National tenants within close proximity of the subject property include Walmart, Costco, Home Depot, Kmart, Target, and Ross Dress for Less, making this the dominant retail corridor in this part of Oahu. Additionally, the site benefits from over 116,100 customers with approximately $97,700 average household incomes and over 28,000 day-time employees within the 5-mile radius of the subject property. High quality national / credit tenants within the center include Texaco, Starbucks, Anytime Fitness and Jamba Juice. Kapolei has one of the highest disposable incomes in all of Hawaii, and its population is projected to increase nearly 64% over the next two decades. Most of the island’s population growth is occurring in the Ewa Plain and the area around Kapolei with jobs expecting to double in the next 20 years. The town is being developed as an urban center, second to Honolulu. HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 4 INVESTMENT HIGHLIGHTS LOCATED IN AN AFFLUENT RETAIL TRADE AREA - HIGH INCOMES IN EXCESS HIGH QUALITY CONSTRUCTION OF $101,000 • Pride of ownership • High income residents will ensure long-term rent growth and success for the • Attracts tenants and customers Halekuai Center. Creates significant upside by upgrading the tenant base within the property to cater to high income consumers. BELOW MARKET RENTS WITH STRONG UPSIDE POTENTIAL • There are nearly 320,000 permanent residents within a 10-mile radius of the • Starbucks is paying below market rent for the end cap space. subject property. • Shop space is below market for immediate area. • The average household income within a 1-mile radius of the subject property is in • Potential for future investor to recapture more CAM for Texaco. excess of $101,000. • Creates excellent future asset appreciation. • Low rent basis offers the investor the ability to grow rents & increase value. • Buyer has the potential to achieve double digit cash flow. KAPOLEI - OAHU’S FASTEST GROWING CITY • The property is located approximately 30 minutes from dowmtown Honolulu in LONG-TERM GROUND LEASE Kapolei, the fastest growing city on Oahu and the island’s “second city”. • 40 years remaining on the ground lease, creating a basically fee interest asset. • Future growth of 4.5% over next 5 years. • Potential to buyout land owner with the First Right of Refusal to Purchase. • Kapolei has grown 46% in the last 14 years within a 1-mile radius of the property. • 100% structural investment = 100% depreciation • Halekuai Center benefits from its ideal location along Highway 1 and is visible to the nearly 31,000 vehicles per day which pass by each day along Farrington BUS STATION STOP AT THE SUBJECT PROPERTY Highway. • One of the busiest stops in trade area, creating instant patrons and consumer • Construction is underway on a 20-mile light rail transit line, which will connect spending for the tenants. Kapolei with downtown Honolulu and Honolulu lnternationaI Airport. NEW RESORTS / KO OLINA WITHIN CLOSE PROXIMITY • The first Four Seasons on Oahu replaced the JW Marriot in 2016 HIGH QUALITY TENANT PROFILE WITHIN CENTER / CLOSE PROXIMITY TO • Disney Aulani - 1,120 units, including 2014 expansion of 300 rooms STRONG INVESTMENT GRADE / CREDIT TENANTS • Marriott timeshare - 778 units • Halekuai Center is occupied by many strong national/credit tenants including: • Ko Olina timeshare - 622 units Texaco (S&P Rated AA), Starbucks (S&P Rated A-}, Anytime Fitness (2,400+ • Total - 2,607 units locations), and Jamba Juice (850+ locations). • The property is located within close proximity to many investment grade/credit STRONG RENTAL INCREASES / 66% OF INCOME STREAM HAS ANNUAL RENT tenants including: Safeway (adjacent), Longs Drugs (adjacent), Walmart Super- INCREASES center, The Home Depot, Costco, and Target. • A majority of the tenants have annual rent increases throughout their lease • The excellent tenant line-up within the property and its close proximity to these terms, which hedges against inflation, and increases return on investment. strong investment grade/credit tenants allows for tremendous tenant synergy and • Very competitive, assumable CMBS debt cross-over traffic. • Current loan balance $10,350,000 • Fixed interest rate is 4.82% • Interest only remaining until August 19, 2020 HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5 INVESTMENT HIGHLIGHTS STRONG HISTORICAL OCCUPANCY/ NEARLY 40% OF TENANTS HAVE INCREASING VISTOR ARRIVALS & POSITIVE JOB GROWTH OCCUPIED FOR 1O+ YEARS • Over 2.5 MM tourists visited Oahu in the first part of 2013, an increase of 2.8% • The national / credit tenants (Texaco, Starbucks, and Jamba Juice} have all compared with the same period in 2012. occupied the center since its inception in 2001, which creates security in a stable • Visitor spending totaled S3.7 billion in the first half of 2013, which totaled 50% of cash flow for the future investor. tourism spending in the state of Hawaii. • Starbucks extended their lease for additional 10 years, and plans a stone remodel • Unemployment dropped to 4.7% in 2013, down from 6.6%, in Oahu. which further highlights the strength of the center and location. NEW HIGH SPEED RAIL CONNECTING KAPOLEI TO DOWNTOWN HONOLULU UNIVERSITY OF HAWAII WEST OAHU CAMPUS AND HONOLULU INTERNATIONAL AIRPORT • The University of Hawaii’s new West Oahu campus is located approximately 1 mile • Honolulu High-Capacity Transit Corridor Project is a 20-mile elevated rail line of Halekuai Center. featuring 21 stations (see map). • The campus opened in 2012 with approximately 1,937 students plus 550 faculty • Total travel time of 42 minutes, include stops, will take passengers from the and staff. Currently, enrollment is 3,082 undergraduate students. beginning of the line in East Kapolei to its endpoint at Ala Moana Center. • Approximately 10,000 jobs each year will be attributed to the construction of the project. NEW HOUSING DEVELOPMENTS IN KAPOLEI -OVER NEARLY 12,000 UNITS PLANNED (HIGH GROWTH AREA) • There are multiple housing developments currently approved by the city near the HIGH BARRIERS TO ENTRY subject property, including: Makaiwa Hills (4,300 units), West Kapolei (2,500 • Hawaii is currently one ofthe country’s most expensive markets to develop in due units), Hunt Development (1,000 units), UH West (1,000 units), Kapolei North to numerous factors including construction materials, lengthy entitlement process, (1,200 units), Franco Mola (580 units}, Forest City (500 units), and Leihano (332 extended delivery times and the high cost of materials. units). • The typical permit to completion time for new developments im Hawaii is seven • Very rare high growth area in Hawaiian Islands. years, making new developments cost prohibitive. Price: $17,500,000 Year One NOI: $1,44,961 CAP Rate: 6.54% 10 Year BTIRR: 14.16% HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6 > Property Information PROPERTY INFORMATION Site Details LEASABLE 56,060 SF total | 25,420 SF net leasable in building | 30,650 SF ground lease PRODUCT TYPE: Retail with Gas Station ADDRESS: 563-565 Farrington Highway, Kapolei HI GROSS LAND AREA: 87,000 SF / 30,650 Leased to Texaco LEASED: 92% Leased COMPLETED: 2001 CONSTRUCTION: Reinforced Concrete STORIES: 2 APN: 1911060040000 Quality Tenants Well Maintained 62 Walk Score Access to Transit High Growth Area HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8 PROPERTY INFORMATION Nearby Amenities HALEKUAI CENTER 41,400 VPD Marketplace at Kapolei HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 9 PROPERTY INFORMATION Floorplans Directory Space 105 Suite Number Tenant SF 1,001 SF 101 Starbucks 1,375 Vacant Vacant Space 105 101A Jamba Juice 1,278 Space 104 1st Floor 101B My Cafe 1,116 102 Vacant 1,444 103 Thai Lao 1,200 104 Vacant 1,281 105 Vacant 1,658 106 Marine Recruiting 937 107 Hair Cave 1,512 108 Tiffany’s Nails 997 201 Anytime Fitness 4,500 202 Amita Holistic Spa 1,300 2nd 202A Kapolei Karaoke 1,660 Floor 205 Dental Perfections 1,226 Dental Perfection 206 Family Vision 1,175 Family Vision 207 Freedom Mortgage 1,001 208 Devine Rite 970 Freedom Mortgage PAD Texaco 30,650 Site Plans not to scale HALEKUAI CENTER | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P.
Load more

Recommended publications
  • News Release
    NEWS RELEASE FOR IMMEDIATE RELEASE Friday, March 17, 2017 Media Contacts: Maggie Jarrett, CommPac (808) 543-3560 Gene Davis, RMHC-HI (808) 973-5683, Ext. 223 RONALD McDONALD HOUSE HAWAII CELEBRATES THIRTY YEARS OF KEEPING FAMILIES CLOSE Over 11,500 Families provided with “home-away-from-home” since 1987 HONOLULU – Ronald McDonald House Charities® of Hawaii (RMHC-Hawaii) is marking three decades of assisting families with seriously ill children from the neighbor islands and throughout the Pacific Rim who must travel to Oahu for treatments. A year’s worth of festivities, events and outreach efforts are scheduled to create awareness of the services available and to give thanks to all who have supported the charity since its inception. RMHC-Hawaii opened its first house on Judd Hillside Road in Manoa Valley on March 27, 1987 and added a second Ronald McDonald House on Oahu Avenue in 2006. The two Houses operate 24 hours a day, 365 days a year and together have provided a “home-away-from-home” for more than 11,500 families. The Ronald McDonald House Family Room at Kapiolani Medical Center for Women & Children opened in 2003 and provides respite and assistance for more than 9,000 people annually. “Over the years, there have been countless moments that have touched us deeply, reminding us of the important work we do,” said Jerri Chong, Ronald McDonald House Charities of Hawaii president. “The Ronald McDonald House provides a supportive environment for families caring for children who are undergoing treatments for illnesses. We are so appreciative of our donors, volunteers and staff that make it possible to care for these families.
    [Show full text]
  • Night Drop Savings Bank
    Night Drop Savings Bank Oahu Ala Moana Center Branch Kaneohe Branch Town Center of Mililani Branch UH Campus Branch 1450 Ala Moana Boulevard 45-1144 Kamehameha Highway 95-1249 Meheula Parkway Hemenway Hall Suite 1255 Suite 100 Suite 126 2445 Campus Road Honolulu, HI 96814-4613 Kaneohe, HI 96744-3272 Mililani, HI 96789-1787 Honolulu, HI 96822-2216 (808) 973-4864 (808) 233-4570 (808) 623-2878 (808) 973-6211 Ewa Branch Kapiolani Branch Nanakuli Wahiawa Branch Laulani Village Shopping Center 1600 Kapiolani Boulevard Sack N Save Branch 649 California Avenue 91-1101 Keaunui Drive Suite 205 87-2070 Farrington Highway Wahiawa, HI 96786-1941 Ewa Beach, HI 96706-6340 Honolulu, HI 96814-3897 Suite G (808) 622-4179 (808) 685-4618 (808) 946-2802 Waianae, HI 96792-3733 (808) 673-6600 Waianae Branch Haleiwa Branch Kapolei Branch Waianae Mall Haleiwa Shopping Plaza 888 Wakea Street Pearl City Branch 86-120 Farrington Highway 66-197 Kamehameha Highway Kapolei, HI 96707 Pearl City Shopping Center Building 1 Suite A (808) 674-2288 850 Kamehameha Highway Waianae, HI 96792-3065 Haleiwa, HI 96712-1400 Suite 164 (808) 673-2606 (808) 637-5042 Main Branch Pearl City, HI 96782-2657 1001 Bishop Street (808) 455-4138 Waikiki Branch Hawaii Kai Branch Honolulu, HI 96813-3400 Waikiki Trade Center Hawaii Kai Towne Center (808) 523-6844 Pearlridge Branch 2255 Kuhio Avenue 333 Keahole Street 98-200 Kamehameha Highway Suite 105 Honolulu, HI 96825-3406 Makiki Branch 1st Floor Honolulu, HI 96815-2681 (808) 395-2308 1209 Piikoi Street Aiea, HI 96701-4395 (808) 923-1102 Honolulu,
    [Show full text]
  • Store # Phone Number Store Shopping Center/Mall Address City ST Zip District Number 318 (907) 522-1254 Gamestop Dimond Center 80
    Store # Phone Number Store Shopping Center/Mall Address City ST Zip District Number 318 (907) 522-1254 GameStop Dimond Center 800 East Dimond Boulevard #3-118 Anchorage AK 99515 665 1703 (907) 272-7341 GameStop Anchorage 5th Ave. Mall 320 W. 5th Ave, Suite 172 Anchorage AK 99501 665 6139 (907) 332-0000 GameStop Tikahtnu Commons 11118 N. Muldoon Rd. ste. 165 Anchorage AK 99504 665 6803 (907) 868-1688 GameStop Elmendorf AFB 5800 Westover Dr. Elmendorf AK 99506 75 1833 (907) 474-4550 GameStop Bentley Mall 32 College Rd. Fairbanks AK 99701 665 3219 (907) 456-5700 GameStop & Movies, Too Fairbanks Center 419 Merhar Avenue Suite A Fairbanks AK 99701 665 6140 (907) 357-5775 GameStop Cottonwood Creek Place 1867 E. George Parks Hwy Wasilla AK 99654 665 5601 (205) 621-3131 GameStop Colonial Promenade Alabaster 300 Colonial Prom Pkwy, #3100 Alabaster AL 35007 701 3915 (256) 233-3167 GameStop French Farm Pavillions 229 French Farm Blvd. Unit M Athens AL 35611 705 2989 (256) 538-2397 GameStop Attalia Plaza 977 Gilbert Ferry Rd. SE Attalla AL 35954 705 4115 (334) 887-0333 GameStop Colonial University Village 1627-28a Opelika Rd Auburn AL 36830 707 3917 (205) 425-4985 GameStop Colonial Promenade Tannehill 4933 Promenade Parkway, Suite 147 Bessemer AL 35022 701 1595 (205) 661-6010 GameStop Trussville S/C 5964 Chalkville Mountain Rd Birmingham AL 35235 700 3431 (205) 836-4717 GameStop Roebuck Center 9256 Parkway East, Suite C Birmingham AL 35206 700 3534 (205) 788-4035 GameStop & Movies, Too Five Pointes West S/C 2239 Bessemer Rd., Suite 14 Birmingham AL 35208 700 3693 (205) 957-2600 GameStop The Shops at Eastwood 1632 Montclair Blvd.
    [Show full text]
  • Land Cleared at Bellows Using Bulldozers, Road Graders, Finally Get a Chance to Get out and by Sgt Inez J
    Selective Reenlistment Program Rent Plus System Cowboy No more bonus money after Maximum rental allowance increase Refueler driver lives March 30 should reflect in Feb. 28 paycheck for a rodeo See Page A-2 See Page A-6 See Page B-1 HAWAII MARINE Voluntary payment for delivery to MCAS housing/$1 per four week period. VOL. 12 NO. 6 KANEOHE BAY, HAWAII. FEB. 9, 1983 TWENTY PAGES Hands-on-training Land cleared at Bellows Using bulldozers, road graders, finally get a chance to get out and by Sgt Inez J. Stoner dump trucks and a crane, 10-man use the equipment,7 said Corporal crews are clearing about 20 acres Mike Reynolds, a 21-year-old Marines from the Heavy of land each day. The brush Equipment Platoon Engineer mechanic from Decatur, Ill. Company, Brigade ranges in height from four to 18 "It's nice when you're actually Service feet with some trees as tall as 50 Support Group are clearing 122.6 doing the job you were trained feet. According to Wood, the crews for," said Private First Class Cliff acres of land at Bellows Air Force are rotated Station. every two weeks to Enright, III, a heavy equipment The clearing job is not allow all of the Marines in the only providing the Marines with operator from Albany, N.Y. "It platoon to train with the gives you more confidence with invaluable training, but is also equipment. saving the government more than your skills as an operator." $200,000. The hands-on training was also "We should do a lot more of experience for Corporal David According to Chief Warrant this," said Sergeant Kenneth Officer-3 David Wood, platoon Laumeyer, a combat engineer Holland, heavy equipment from Peru, Ind.
    [Show full text]
  • Waipahu, Hawaii
    WAIPAHU, HAWAII PROPERTY OVERVIEW WAIKELE PREMIUM OUTLETS® WAIPAHU, HI WAIKELE PREMIUM OUTLETS WAIPAHU, HI MAJOR METROPOLITAN AREAS SELECT TENANTS Honolulu: 15 miles adidas, AllSaints, Armani Outlet, Banana Republic Factory Store, Calvin Klein, Coach, Cole Haan, Converse, The Cosmetics Company Store, FURLA, GUESS Factory Store, kate spade new york, LACOSTE, Levi’s RETAIL Outlet Store, Michael Kors, OshKosh B’gosh, Polo Ralph Lauren Factory Store, Saks Fifth Avenue OFF 5TH, Skechers, Swarovski, Tommy GLA (sq. ft.) 219,000; 57 stores Bahama, Tommy Hilfiger, Tory Burch, True Religion, Tumi, UGG®, Vera Bradley, Watch Station International OPENING DATES Opened 1994 Renovated 2015 TOURISM / TRAFFIC According to the HawaiiTourismAuthority.org, over 9.9 million visitors traveled to Hawaii in 2018. Oahu leads all other islands in attracting the PARKING RATIO most arrivals (5.9 million). Visitors stayed an average of 6.87 days on Oahu with shopping expenditures in Hawaii topping $17.82 billion in 3.6:1 2018. Waikele Premium Outlets is the only outlet center on the island of Oahu and is a popular prepackaged shopping tour stop for Japanese, Chinese, South Korean, and Australian visitors. RADIUS POPULATION 15 miles: 815,493 30 miles: 998,555 LOCATION / DIRECTIONS AVERAGE HH INCOME Waikele Premium Outlets is located in “Central Oahu,” Waipahu, Hawaii at 94-790 Lumiaina Street, 15 miles northwest of Honolulu directly off 30 miles: $99,136 I-H-1, Exit 7. Information as of 5/1/19. Source: SPG Research; trade area demographic information per STI: PopStats (2018). OTHER RETAIL SHOPPING CENTERS GROSS LEASABLE AREA ANCHORS DISTANCE / DRIVE-TIME Pearlridge Center Aiea, HI 1,290,000 sf Macy's, Sears 7 miles / 15 minutes Ka Makana Ali'i 860,000 sf Macy’s, Consolidated Theatres, 7 miles / 15 minutes Kapolei, HI Hampton Inn & Suites by Hilton Ala Moana Center 2,300,000 sf Bloomingdale's, Macy's, Neiman Marcus, 15 miles / 30 minutes Honolulu, HI Nordstrom, Shirokiya Ward Village Shops 1,000,000 sf Nordstrom Rack, T.J.
    [Show full text]
  • Pearlridge Center Hawaii
    PEARLRIDGE CENTER HAWAII 98-1005 Moanalua Rd., Aiea, HI 96701 TABLE OF CONTENTS Market Snapshot Location By the Numbers Local Landscape Property Highlights Portfolio Events and Activations MARKET SNAPSHOT In early 2019, Located in Aiea, a census-designated place in the city and county of Honolulu, Hawaii, Pearlridge the $30 million Center draws residents from central and west Oahu and is not dependent on the fluctuating travel industry. The property’s location provides proximity renovation of to employment centers as well as a strong residential base. West Oahu is one of the fastest-growing regions in the state and has become one of the most sought- Pearlridge Makai after places in which to live and work. Honolulu is the capital, largest city, and main airport and seaport of the Hawaiian Islands. was completed. Honolulu and the surrounding area’s steady population and job growth is driven primarily by The renovation tourism and government (military) sectors. The region is also working to attract more high technology companies, providing a truly diverse employment enhanced foundation. Nearby is Joint Base Pearl Harbor / Hickam, which has 12,597 civilians employed on base and which contributes significantly to the mall’s Pearlridge Center customer base. Pali Momi Medical Center is a major employer located right outside the shopping center, bringing additional customers into the mall. customers’ The University of Hawaii - West Oahu, with enrollment of 3,400 students (and anticipating 20,000 students shopping and by 2020), is located 10 miles west of the property. Waikiki Beach is a major tourist destination on the island, as is the Pearl Harbor Visitors Center, dining experience.
    [Show full text]
  • Currently Available in These Select Shops in Limited Quantities
    Currently available in these select shops in limited quantities. CALIFORNIA Jack’s Surfboards - HB Store - 714-536-4516 Jack’s Surfboards - Santa Monica Store - 310-450-6569 101 Main St., Huntington Beach, CA 2012 Lincoln Blvd., Santa Monica, CA Jack’s Surfboards - Newport Store - 949-673-2300 Jack’s Surfboards - CDM Store - 949-718-0001 2727 Newport Blvd., Newport Beach, CA 900 Avocado, Corona Del Mar, CA Jack’s Surfboards - Dana Point Store - 949-276-8080 Jack’s Surfboards - Irvine Spectrum - 949-242-7020 34320 PCH # C, Dana Point, CA 5581 Alton Pkwy., Irvine, CA Jack’s Surfboards - Hermosa Beach Store - 310-374-7873 Spyder II - 310-374-2494 1630 PCH, Hermosa Beach, CA 65 Pier Ave., Hermosa Beach, CA Val Surf - 818-769-3337 Val Surf - 661-222-7288 4810 Whitsett Ave., Valley Village, CA 24140 Valencia Blvd., Valencia, CA Val Surf - 805- 497-1166 Val Surf - 818-225-8177 3055 E. Thousand Oaks Blvd., Thousand Oaks, CA 22864 Ventura Blvd., Woodland Hills, CA Val Surf - 626-796-0668 Hansens Boardroom - 760-753-6595 169 W. Colorado Blvd., Pasadena, CA 1105 S. Coast Hwy. 101, Encinitas, CA Sun Diego - Flower Hill - 858-793-1054 Sun Diego - Wavehouse Store - 858-866-0108 2720 Via De La Valle, Suite #101, Del Mar, CA 3126 Mission Blvd. Suite B, San Diego, CA Sun Diego - Solana Beach Town Center - 858-523-1733 Sun Diego - Plaza Bonita - 619-399-7959 677 Lomas Santa Fe Drive, Solana Beach, CA 3030 Plaza Bonita Rd. Suite 1160, National City, CA nixon.com CALIFORNIA Sun Diego - Fashion Valley Mall - 619-268-2295 Sun Diego - University Town Center - 858-646-0632 7007 Friars Rd.
    [Show full text]
  • Retailing and Hawaii's Economy
    HAWAII’S August 1998 ECA Report from the Department Nof Business, EconomicO DevelopmentMY & Tourism In This Issue Retailing and Hawaii’s Retailing and economy page 1 Retailing and tourism page 4 Hawaii’s Economy Hawaii’s retailing timeline page 10 Retail evolution in Hawaii his issue of Hawaii’s Economy gling with weak sales and sometimes page 12 focuses on the retailing sector going out of business. The answer to Hawaii’s retailing revolution and its important relationship to this paradox lies in the current dynam- page 13 T Hawaii’s economy. Retailing has been in ics of the retailing industry. Hawaii re- Emerging trends in U.S. the news frequently over the last couple tailing is currently in the process of retailing of years, often in regards to stores going revolutionary change in which new page 20 out of business or poor sales volume in forms of retailing are replacing old The language of retailing the industry. ones, with most players working hard page 21 On the other hand, there have also to stay competitive in a tough retail been stories about impressive new re- environment. The way successful stores State of the economy page 22 tail development plans and renovations. stay competitive in such an environment For instance, the Ala Moana Center re- is to continually change and update Selected statistics cently announced a new round of ex- themselves and their product lines to page 23 pansion for the keep and ex- Hawaii’s Economy State’s largest Hawaii retailing is currently in pand their par- is published by the Department of Business, shopping center ticular markets.
    [Show full text]
  • 4Q2016 Retail Market Report.Indd
    Oahu | Hawaii Research & Forecast Report RETAIL MARKET Year-End 2016 Delivery of Ka Makana Alii Regional Mall Contributes to Market Growth Mike Hamasu Director of Research | Hawaii Oahu’s retail marketplace received a 502,178 square foot boost “We anticipate Oahu’s retail in net absorption in 2016 as Ala Moana Center, International market to continue to strengthen Market Place and Ka Makana Alii developments added nearly 1.4 million square feet of additional inventory. However, more than as the introduction of new 600,000 square feet of this new space is either vacant or under retailers add to the vibrancy of construction, resulting in a vacancy rate spike. our market.” Over the past two years, the island-wide vacancy rate doubled Nathan A. Fong (B), Senior Vice President from 4.09% at year-end 2014 to 8.44% currently. The last time vacancy rates exceeded 8% was in 2003 when JCPenney shut Market Indicators Year End down and left signifi cant vacancies at Ala Moana Center and Relative to prior quarter 2016 Pearlridge Center. VACANCY Colliers anticipates that vacancy rates will steadily decline NET ABSORPTION in 2017 when a projected 400,000 square feet of the new CONSTRUCTION inventory becomes occupied. RENTAL RATE Oahu Retail Net Absorption vs. Vacancy Rate Summary Statistics Year End 2016 Retail Market 8.44% 600,000 9.00% YTD Net Absorption 502,178 SF 502,178 8.00% Vacancy Rate 8.44% 500,000 7.00% Average Asking Rent Range $3.52 to $4.33 psf/mo 400,000 6.00% Average Asking Rent NNN $3.92 psf/mo 5.00% Average Operating Exp.
    [Show full text]
  • Hawaii Foodbank 2017 Annual Report
    HAWAII FOODBANK 2017 ANNUAL REPORT Helping to Feed Hawaii’s Hungry Message from the Board Dear Friends, Our organization forms valuable partnerships with nearly 200 charitable agencies, retailers, manufacturers Aloha from Hawaii Foodbank. and outstanding members of the local community. We help feed one in five people in our state—including For 34 years, the Hawaii Foodbank has served as a over 47,000 children and over 46,000 seniors. vital safety net for children, adults and seniors at risk of hunger. We collect, inspect, store and distribute We are so grateful that caring people like you support food, including canned goods, perishables and fresh our mission and make a difference. Together, we can produce for 287,000 people statewide. If we cannot source donated food, we purchase and receive it in end hunger in Hawaii—one meal at a time. container loads. Mahalo nui loa for your contributions toward helping We do not do it alone. to feed Hawaii's hungry. Board Officers Linda Chu Takayama Jeff Moken James Starshak Neill Char Chair Vice Chair Secretary Treasurer Kauai Advisory Board Charlie King Dr. Addison Bulosan Diane Keeler Lesah Merritt Patrick Ono Beth Tokioka 1 Our Mission The people of Hawaii are one ohana. The Hawaii Foodbank provides food so that no one in our family goes hungry. We work to gather food and support from our communities. We then distribute food through charitable agencies to those in need. Our mission is from the heart, and we will fulfill our mission with integrity, humanity and aloha. Oahu Staff Kauai Staff 2 Who We Are Board Officers Ku’uhaku Park Julene Davis, Donor Services Assistant Linda Chu Takayama, Chair Matson, Inc.
    [Show full text]
  • MOA Hawai'i Newsletter
    MOA HAWAI‘I Officers & Directors Frances Okazaki President MOA Hawai‘i Lester Nakamura Vice-President Alan Aranaydo Secretary Newsletter Steve Tomino Treasurer M A R C H 2 0 1 8 VOLUME 5, ISSUE 3 Jessie Nakata Asst. Treasurer/Director Shawn Hamada Director EXECUTIVE DIRECTOR’S MESSAGE Dean Kanemaru Director Aloha! 9 Hidden Toxins Lurking in Brian Nakano Director Your Food Cynthia Okido This month, we are focusing on Source: (https://articles.mercola.com/sites/ Director “nutrition.” articles/archive/2009/09/01/9-hidden-toxins- Sandra Tam-Sing lurking-in-your-food.aspx) Director “Generally, when foods enter the Dr. Mercola is a well-known physician MOA HAWAI‘I STAFF body, the functions of the and a multiple New York Times Best- Norman Oshiro digestive organs cause selling Author. He started his website, Executive Director Mercola.com in 1997; the world's #1 transformations to only the Natural Health site. He is a recognized, Alan Aranaydo necessary nutrients and to only licensed Physician and Surgeon in the MOA Wellness Center Director the necessary amounts. Because state of Illinois. He first opened his Roy Goshi-Otaguro practice outside Chicago in 1985 and Arts & Culture Program Manager of that, strictly speaking, it is the has treated over 20,000 patients. Ruby Gines ratio of fifty percent nutritional Operations and Facility elements of foods, and fifty Assistant Manager Here are some tips to help you percent vitality of the function of Administrative Assistants: the digestive organs to transform steer clear of hidden toxins that Mallori Choy masquerade as safe products. Ceronda Enocencio foods.
    [Show full text]
  • Waikiki Station
    f f TO FREEWAY Ala Wai Golf Course TO FREEWAY BUS KALAKAUA AVENUE BUS McCULLY ST. BUS Library BUS BUS 1900 ALA WAI BLVD. 2000 f 2200 2300 2400 ALA WAI BLVD. f ST. KANEKAPOLEI LEAHI AVE. Fire BUS D WAY WAINANI AINAKEA WAY Royal BUS Aloha Waikiki Station NIU ST. ST. PAU KEONIANA ST. KUAMOO ST. NAMAHANA ST. OLOHANA ST. ST. KALAIMOKU ST. LAUNIU KAIOLU ST. SEASIDE AVE. ST. NOHONANI NAHUA ST. ST. WALINA Aloha Surf Sand AVENUE PAOAKALANI Villa Hawaiian BUS Monarch OHUA STREET Waikiki Baptist Kuhio Convention Waikiki Hilton Beach g TUSITALA ST. BUS Center ALOHA DRIVE Hawaiian Pharmacy PAKI AVE. BUS BUS Ambassador King KAPIOLANI BLVD. Starbucks Waikiki Hotel BUS Rent A Car Dollar Market- Marriott Food CLEGHORN STREET KALAKAUABUS AVENUE Courtyard Royal Kuhio The place Pantry PUALANI WAY Ohia BUS BUS BUS BUS BUS BUS Waikiki ROYAL HAWAIIAN AVE. HAWAIIAN ROYAL Vive KONA ST. BUS Sunset MAHUKONA ST. BUS KUHIO AVENUE fg 2250 Waikiki BUS BUS ENA ROADENA Waikiki KUHIO AVENUE BUS Waikiki Ala Moana Doubletree BUS Aqua Waikiki KANELOA KAPAHULU AVENUE Hotel Eaton Square Gateway Coral Banyan Alana 2000 Waikiki Town Pacic Trade Reef Center BUS BUS AVE. Monarch Kuhio BUS BUS LEWERS ST. LEWERS ATKINSON DR. Center Village BUS HOBRON LANE g PRINCE EDWARD Ala Moana Inn Duty Free h Thrifty BUS 2500 Marketplace Shopping On The Luana Car Rental International King’s Village Center Park Waikiki Resort fg Waikiki Waikiki LILIUOKALANI AVE. Hyatt Place BUS Waikiki ALA WAI BOULEVARD Business Sharaton KOA AVENUE Shopping Plaza KAIULANI Pacic CARTWRIGHT ROAD 2200 Princess Plaza Beach fg BUS Top of Waikiki Kaiulani ULUNIUAVE.
    [Show full text]