{"id":1004089453,"date":"2014-01-09T07:43:23","date_gmt":"2014-01-09T15:43:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004089453"},"modified":"2022-12-08T03:44:56","modified_gmt":"2022-12-08T11:44:56","slug":"terramar-acquires-new-retail-center-on-oahu-for-100m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terramar-acquires-new-retail-center-on-oahu-for-100m\/","title":{"rendered":"Terramar Acquires New Retail Center on Oahu for $100M"},"content":{"rendered":"<p><i>By Scott Baltic, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004089455\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/terramar-acquires-new-retail-center-on-oahu-for-100m\/honolulu\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg\" data-orig-size=\"1263,919\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"HONOLULU\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg?w=1024\" class=\"alignleft size-medium wp-image-1004089455\" alt=\"HONOLULU\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg\" width=\"300\" height=\"218\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg 1263w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg?resize=300,218 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg?resize=768,559 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/HONOLULU.jpg?resize=1024,745 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Terramar Retail Centers, of Carlsbad, Calif., has purchased, for $99.5 million, the Laulani Village Shopping Center, a relatively new 223,000-square-foot neighborhood retail center in Ewa Beach, Oahu, Hawaii, the company announced Tuesday. The seller was Property Development Centers, a subsidiary of Safeway Inc.<\/p>\n<p>Sited on about 20 acres at the corner of Fort Weaver Road (Route 76) and Keaunui Drive, the center is anchored by a 60,000-square-foot Safeway, with a 33,000-square-foot City Mill super-hardware store, and 35 smaller shops and restaurants, including Petco, Ross, Walgreens, Starbucks, Panda Express and Teddy\u2019s Bigger Burger.<\/p>\n<p>Safeway and City Mill opened in 2012, with the remaining stores opening in 2013. The center is currently 89 percent occupied, with a few stores to be built out and opened later this year.<\/p>\n<p>\u201cWith over 20 percent population growth projected in the area between 2010 and 2018, West Oahu is fast becoming a secondary urban center\u201d on Oahu, Matthew Smith, Terramar\u2019s vp of retail center acquisitions, said in a release.<\/p>\n<p>He noted that the center is only 10 miles west of Honolulu and neighboring Pearl Harbor, two major employment centers.<\/p>\n<p>\u201cTerramar is actively pursuing retail acquisitions in the Western U.S.,\u201d Terramar president\/CEO Steve Bowers told <i>Commercial Property Executive<\/i>. \u201cWe are particularly focused on expanding our portfolio of grocery-anchored retail centers like the Laulani.\u201d<\/p>\n<p>Jeff Weber, Chris Hoffmann, Rob Wehmueller and Kerrie Weis of Eastdil Secured marketed the property to a select group of institutional buyers on behalf of Property Development Centers. Terramar represented itself in the transaction.<\/p>\n<p>CBRE will manage Laulani Village, and Jones Lang LaSalle will continue leasing the center.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terramar Retail Centers has purchased, for $100 million, the Laulani Village Shopping Center, a 223,000-square-foot neighborhood retail center in Ewa Beach, Oahu, Hawaii.<\/p>\n","protected":false},"author":882,"featured_media":1004089455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,1588,21783,21742,21749,15],"tags":[],"class_list":["post-1004089453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-honolulu","category-investment","category-latest","category-retail","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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