REO: Grocery Anchored Hawaii Shopping Center

Value-Add Grocery Anchored Retail Center. The Property is currently 80% leased with 7.79 years of weighted average lease term and anchored by Safeway, one of the top grocers in the United States. Safeway’s lease runs through 2036 with one more 11.5-year renewal option at a fixed rent.

Top Performing Grocery Location. Safeway, now a subsidiary of Albertsons, is one of the largest grocers in the United States and a major grocer in Hawaii. With tenancy since 1981 as the Property’s original anchor tenant, Safeway has demonstrated both commitment to the Center and high productivity with significant annual sales.

Irreplaceable Location & Limited Retail Supply. The Hawaii Kai Shopping Center is built within the historical Kuapa Pond, which was originally marshland that was dredged in the 1950s to create the Hawaii Kai neighborhood. As such, the Center is unique in that it is one of only a handful of retail centers in the Hawaii Kai neighborhood, an affluent community boasting a median income of over $150,000 within a one-mile radius of the Property.

Auctioneer Name Lamar P. Fisher

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