The Bratton Team

 

For more information, please contact Mark Bratton at

808-523-9708 or email mark@colliershawaii.com

 

Investment Summary

Offering Price: $23,212,000
Year 1 Cap Rate: 7.53%
Year 3 Cap Rate: 9.40%
Occupancy: 80%
Total Leasable Area: 73,524 SF
Land Area: 7.066 Acres (307,795 SF) (1)

(1) A 27,704 SF portion of the parking lot is subject to a license agreement which runs through 2079 (see marketing package).

 

Investment Highlights

  • 73,524 SF grocery-anchored shopping center leased to established tenants such as: Waikoloa Village Market (owned & operated by KTA), First Hawaiian Bank, Chevron, and many more!
  • Anchor Waikoloa Village Market has been at the property for over twenty years, renewed and expanded its size in 2005
  • Waikoloa Highlands Center is the only grocery-anchored property in the Waikoloa Village area
  • Waikoloa Village Center is being marketed on current in-place income at 80% occupancy including seller master lease (see Rent Roll for detail)
  • Approximately 35,704 SF of the occupied GLA (60%) is leased at rates below current market rates – Net Operating Income (NOI) is projected to grow more than $1,084,000 (62%) over the hold period
  • Waikoloa Road is the main east-west road crossing the island from Waikoloa to Hilo – the strong grocery anchor with various retail and service uses make Waikoloa Highlands Center a point of destination in the community

For more information, please contact Mark Bratton at

808-523-9708 or email mark@colliershawaii.com

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