{"id":1004186856,"date":"2017-08-14T05:21:43","date_gmt":"2017-08-14T13:21:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004186856"},"modified":"2022-12-09T02:46:47","modified_gmt":"2022-12-09T10:46:47","slug":"salem-sells-flagship-walgreens-in-hawaii","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/salem-sells-flagship-walgreens-in-hawaii\/","title":{"rendered":"Salem Sells Flagship Walgreens in Hawaii"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004187341\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/salem-sells-flagship-walgreens-in-hawaii\/wlg17_walgreenshonolulu_075\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg\" data-orig-size=\"1969,1313\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;Brad Peebles&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark IV&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1486493407&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;17&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;1&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"WLG17_WalgreensHonolulu_075\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg?w=1024\" class=\"alignright size-medium wp-image-1004187341\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg\" alt=\"WLG17_WalgreensHonolulu_075\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg 1969w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg?resize=1024,683 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg?resize=1536,1024 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a> By IvyLee Rosario<\/p>\n<p>Salem Partners sold its flagship Walgreens in\u00a0Honolulu\u00a0to a Korean investment firm for $42.3 million. This sale marks one of the highest prices for a store in Walgreens history.\u00a0<\/p>\n<p>The company is pursuing entitlements to redevelop the adjacent site to the store, located at 1500 Kapiolani Blvd. Walgreens will continue to occupy the 36,058-square-foot space under a long-term lease.\u00a0<\/p>\n<h2>Future Development\u00a0<\/h2>\n<p>Salem Partners is utilizing\u00a0the city&#8217;s new Interim Transit-Oriented Development ordinance with two new projects. In addition to the adjacent Walgreens development, the company is working on the nearby Mana\u2019olana Place, a 36-story <a href=\"https:\/\/www.commercialsearch.com\/news\/salem-partners-to-open-luxury-hotel-in-honolulu\/\">mixed-use tower<\/a> with extensive gardens and public plazas, located at 1695 Kapiolani Blvd.\u00a0<\/p>\n<p><em>\u201cWe are moving forward with the city and county planning department on an architecturally stunning project that will redefine the city\u2019s skyline,\u201d\u00a0<\/em>said James Ratkovich of Salem Partners, in prepared remarks.<\/p>\n<p><em>Photo courtesy of Salem Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Korean investment firm purchased the retail asset for $42.3 million. Salem is pursuing entitlements to redevelop the adjacent site to the store into a hotel\/condominium project. <\/p>\n","protected":false},"author":746,"featured_media":1004187341,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,1588,21742,21749,15],"tags":[33873,33839],"class_list":["post-1004186856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-honolulu","category-latest","category-retail","category-west","tag-salem-partners","tag-walgreens"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Salem Sells Flagship Walgreens in Hawaii - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/salem-sells-flagship-walgreens-in-hawaii\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salem Sells Flagship Walgreens in Hawaii\" \/>\n<meta property=\"og:description\" content=\"A Korean investment firm purchased the retail asset for $42.3 million. Salem is pursuing entitlements to redevelop the adjacent site to the store into a hotel\/condominium project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/salem-sells-flagship-walgreens-in-hawaii\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-14T13:21:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:46:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/WLG17_WalgreensHonolulu_075.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1969\" \/>\n\t<meta property=\"og:image:height\" content=\"1313\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/salem-sells-flagship-walgreens-in-hawaii\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/salem-sells-flagship-walgreens-in-hawaii\\\/\"},\"author\":{\"name\":\"IvyLee Rosario\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"headline\":\"Salem Sells Flagship Walgreens in Hawaii\",\"datePublished\":\"2017-08-14T13:21:43+00:00\",\"dateModified\":\"2022-12-09T10:46:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/salem-sells-flagship-walgreens-in-hawaii\\\/\"},\"wordCount\":153,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/salem-sells-flagship-walgreens-in-hawaii\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/08\\\/WLG17_WalgreensHonolulu_075.jpg\",\"keywords\":[\"Salem Partners\",\"Walgreens\"],\"articleSection\":[\"Deals\",\"Development\",\"Honolulu\",\"News\",\"Retail\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/salem-sells-flagship-walgreens-in-hawaii\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/salem-sells-flagship-walgreens-in-hawaii\\\/\",\"name\":\"Salem Sells Flagship Walgreens in Hawaii - 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