{"id":1004089620,"date":"2014-01-13T06:20:56","date_gmt":"2014-01-13T14:20:56","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=230340"},"modified":"2020-05-18T01:18:34","modified_gmt":"2020-05-18T09:18:34","slug":"terramar-pays-99-5m-for-safeway-anchored-shopping-center-in-ewa-beach","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terramar-pays-99-5m-for-safeway-anchored-shopping-center-in-ewa-beach\/","title":{"rendered":"Terramar Pays $99.5M for Safeway-Anchored Shopping Center in Ewa Beach"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br 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Name=\"Book Title\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"37\" Name=\"Bibliography\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>\n<\/w:LatentStyles><br \/>\n<\/xml><![endif]--><!--[if gte mso 10]><\/p>\n\n\n\n\n<style>\n \/* Style Definitions *\/\n table.MsoNormalTable\n {mso-style-name:\"Table Normal\";\n mso-tstyle-rowband-size:0;\n mso-tstyle-colband-size:0;\n mso-style-noshow:yes;\n mso-style-priority:99;\n mso-style-parent:\"\";\n mso-padding-alt:0cm 5.4pt 0cm 5.4pt;\n mso-para-margin-top:0cm;\n mso-para-margin-right:0cm;\n mso-para-margin-bottom:10.0pt;\n mso-para-margin-left:0cm;\n line-height:115%;\n mso-pagination:widow-orphan;\n font-size:11.0pt;\n font-family:\"Calibri\",\"sans-serif\";\n mso-ascii-font-family:Calibri;\n mso-ascii-theme-font:minor-latin;\n mso-hansi-font-family:Calibri;\n mso-hansi-theme-font:minor-latin;\n mso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Laulani-Village-Shopping-Center-in-Hawaii.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-230343\" title=\"Laulani Village Shopping Center in Hawaii\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Laulani-Village-Shopping-Center-in-Hawaii.jpg\" alt=\"\" width=\"300\" height=\"217\" \/><\/a>By Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In a $99.5 million deal, California-based Terramar Retail Centers has purchased the newly developed 223,000-square-foot Laulani Village Shopping Center in Ewa Beach, Oahu, from Property Development Centers, a subsidiary of Safeway Inc. <span style=\"mso-spacerun: yes;\"> <\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Located on approximately 20 acres at the center of the Ewa Beach residential neighborhoods, the property is anchored by a 60,000-square-foot Safeway, with a 33,000-square-foot City Mill super-hardware store, both of which opened in 2012.  <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Currently 89 percent leased, Laulani Village also features 35 shops and restaurants, including Petco, Ross, Walgreens, Starbucks, Panda Express and Teddy\u2019s Bigger Burger. Additional stores are slated to open in 2014.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">CBRE Group Inc. charged with management of the retail center, while Jones Lang LaSalle Inc. will continue to handle leasing. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cThis is a strategic, quality addition to Terramar\u2019s retail portfolio. Grocery-anchored centers like Laulani Village are solid, long-term performers and a top target as we continue an aggressive expansion of our portfolio,\u201d Steve Bowers, president &amp; CEO of Terramar Retail Centers, said in a prepared statement. \u201cThe Ewa Beach area is experiencing prolific growth, with very strong demographics and a large customer base.\u201d <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Founded in 1996, Terramar currently owns and operates 24 neighborhood, community, specialty and power centers totaling more than 3.6 million square feet in the Western United States.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other news, the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.bizjournals.com\/pacific\/news\/2014\/01\/07\/alexander-baldwin-closes-on-sale-of.html\" rel=\"nofollow\" >Pacific Business News<\/a><\/em> reports that Alexander &amp; Baldwin Inc. has sold several retail and industrial assets on the Mainland and in Hawaii for a total of $330 million. The portfolio includes the Maui Mall in Kahului, the Activity Distribution Center and Rancho Temecula in California, the Savannah Logistics Park in Georgia, the Heritage Business Park in Texas, and Broadlands Marketplace and Meadows on the Parkway in Colorado.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The Honolulu-based company is using the proceeds to fund its $373 million purchase of Kaneohe Ranch and the Harold K.L. Castle Foundation\u2019s Windward Oahu real estate portfolio. <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/honolulu\/ab-to-acquire-hawaii-commercial-portfolio-from-kaneohe-ranch-and-the-harold-k-l-castle-foundation\/\">First announced in November<\/a><\/em>, the acquisition closed on Dec. 20.<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: Terramar Retail Centers<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a $99.5 million deal, California-based Terramar Retail Centers has purchased the newly developed 223,000-square-foot Laulani Village Shopping Center in Ewa Beach, Oahu from Property Development Centers, a subsidiary of Safeway Inc.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[1815],"class_list":["post-1004089620","post","type-post","status-publish","format-standard","hentry","category-honolulu","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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