Hawaii real estate by Bonnebaker

Moody’s Investor service came out with their study about the status of commercial real estate in the United States and Honolulu came out on top with the strongest market followed by Orange County, CA.  The weakest was Phoenix, AZ and Detroit. In addition, full service and limited service hotels showed improved market conditions in the U.S.  The report noted that vacancy rates are still high, but there is improvement over the previous period.

The Mauna Kea Beach Hotel will celebrate a $150 million dollar renovation with grand opening festivities and music March 27 and 28 on the Big Island’s Kohala Coast.

The Laurance Rockefeller-built beachfront hotel had a soft opening in December two years after being forced to close by extensive earthquake damage.

The makeover included redesigned, larger guest rooms, new restaurants, a spa, and extensive work on the legendary golf course, along with a new clubhouse.

The Mauna Kea Beach Hotel was the first luxury hotel in the region — opened in 1965 on 60 acres overlooking Kauna’oa Bay.

Source:  Honolulu Advertiser

A&B Properties Inc. has purchased the Waipio Gentry industrial properties in Central Oahu and also a warehouse and distribution facility near San Diego, the company said Wednesday.

Honolulu-based A&B Properties, the real estate subsidiary of Alexander & Baldwin Inc. (NYSE: AXB), acquired both properties using 1031 tax-deferred proceeds from earlier commercial property sales.

The Gentry portfolio consisted of five buildings totaling 158,000 square feet. The Activity Distribution Center in Miramar, Calif., consisted of four buildings totaling 252,000 square feet, the company said in a news release.

“The acquisitions of Activity and Waipio further support our real estate investment strategy to own and operate logistics-oriented warehouse facilities in key distribution markets,” said Norbert M. Buelsing, president of A&B Properties.

Source:  Pacific Business News