Puna Kai Shopping Center

A rare opportunity to acquire a brand new, fee simple 113K SF 100% leased grocery-anchored center in Hawai'i

Deal Type: Acquisition

Risk Profiles: Core

Property Types: Retail

Institutional Property Advisors (“IPA”) is pleased to present for sale Puna Kai Shopping Center - the rare opportunity to acquire a new construction, fully leased grocery anchored center on fee simple land on the Big Island of Hawaii. Puna Kai Shopping Center is a 100% leased 113,425 SF Malama Market (Sullivan Family Of Companies) grocery anchored center, situated on approximately 9.93 acres of fee simple land in the Puna district of Hawaii on the windward (east) side of the Big Island, which is the fastest growing area of the Big Island, enjoying 37% population growth over the last 10 years and 86% over the last 20.

Offering Price: $62,000,000

GLA: 113,425 SF

NOI: $3,684,043

Occupancy: 100%

Anchor: Malama Market (Sullivan Family Of Companies)

Assumable Financing: First - $38,000,000, 4.12% fixed, 30-year Amort, 6/2030 Maturity (may be delivered without debt as well)

Second - $6,000,000, 4.75% fixed, 30-year Amort, 6/2030 Maturity (may be delivered without debt as well)

IPA (Institutional Property Advisors)

Patrick Toomey Executive Director

ptoomey@ipausa.com / (424) 405-3890 / (310) 403-4984

Tom Lagos, CCIM Executive Director

tlagos@ipausa.com / (213) 943-1789 / (310) 722-8939

Jose Carrazana Director

jcarrazana@ipausa.com / (213) 943-1920 / (786) 973-8929

Jessica Baram Associate

jbaram@ipausa.com / (213) 943-1922 / (310) 818-6794

BROKER OF RECORD

David Asakura

Commercial Asset Advisors, LLC
dasakura@caahawaii.com
(808) 282-0503
HI License No.RB-20869