The Bratton Team

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In the center of Waikiki at the active corner of Seaside and Kuhio Avenue, the more than 248-foot high-rise office building and approximately 205,390 square feet of rentable space has been confirmed purchased on Wednesday, by San Francisco-based Coastwood Capital Group LLC, a partner in the International Market Place redevelopment. The acquisition of the roughly 22-story office building presents an exciting opportunity in shaping the continued revitalization of Waikiki. Decisions may not have been made yet but the use could possibly be hotel-related. I shared in this article with Honolulu’s Star-Advertiser, Allison Schaefers:

Such a conversion would shore up Waikiki’s anemic office space market while alleviating some of the district’s lodging pressures. Over the past 10 years, the vacancy rate among Waikiki office projects has been substantially higher than in any other district…On the other hand, the lodging sector is busting at the seams. This is a win-win situation.”

What are your thoughts on this redevelopment and what it could mean to Waikiki’s office market?

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