A nearly half-acre property on Kapi‘oani Boulevard, located across from the Hawai‘i Convention Center, has been listed for sale.
You'll find the 22,516-square-foot, or 0.52-acre, transit-oriented redevelopment site at 1830 Kapi‘olani Blvd.
Trent Thoms and Alexander Kidani, investment specialists in Marcus & Millichap's Honolulu office, in association with Adam Attia, the firm's Hawai‘i broker of record, are marketing the property on behalf of the seller, a recent announcement says. Property records from the City and County of Honolulu show 1830 Kapi‘olani LLC to be the current fee owner.
No asking price was noted. Marcus & Millichap is a commercial real estate brokerage that specializes in investment sales, financing, research and advisory services.
Thoms, managing director, investments, was unavailable for an interview, but said in the announcement, "The location is what makes this opportunity particularly compelling. With its position in Honolulu's urban core and the development potential available through transit-oriented zoning, the site offers an opportunity to shape one of the city's most prominent intersections.”
Located a short distance from Ala Moana Center, near Kapi‘olani Boulevard's intersection with Kalākaua Avenue, the property is within the Ala Moana Convention Center Transit-Oriented Development District, where development incentives may allow for building heights of up to 400 feet and a greater floor area ratio compared to non-TOD standards, the announcement notes. You can find more information about the Ala Moana TOD neighborhood here and TOD plan here.
Stephanie Salmons can be reached at stephanie@alohastatedaily.com.
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