Business Services Industry
Honolulu office complex
Real Estate Alert, June 9, 2004
Shidler Group agreed to pay about $74 million, or $143/s|; for a leasehold interest in Waterfront Plaza, a 515,000-sf office/retail complex in Honolulu. The complex is 97% occupied. The seller is a joint venture between Lehman Brothers and Kojaian Cos., which assumed the property in 2000 from Teachers Insurance as part of a $176 million portfolio acquisition.
Teachers bought it two years earlier for $50 million from developer Bruce Stark in a foreclosure auction. Secured Capital is handling the sale.
COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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