|
Kauai Village Sells for $26.9 million
The Kauai Village shopping center was recently sold for $26.9 million to a group of 22 investors. Passco Real Estate Enterprises, Inc. of Orange County, California bought the eight acre shopping village on Kuhio Highway in Waipouli for a buyer group that includes themselves and 22 unnamed "small" investors from around the country, including Hawaii.
Passco chief executive office Bill Winn confirmed that Starbucks Coffee and Jamba Juice will soon be tenants at Kauai Village. "They should be in by the holiday season" Winn said. Passco will have to relocate some of the existing tenants to accommodate the duo.
Meanwhile, improvements to signage, the parking lot, painting and lighting are the first improvements on the agenda. A pedestrian bridge linking Kauai Village with the adjacent Waipouli Town Center (with Foodland as the anchor tenant) is also planned.
The Kauai Village shopping center was built in 1990 and has 113,495 square feet of floor space in six buildings. It's anchored by Safeway and Longs Drug Stores and is the third largest shopping complex on Kauai after Kukui Grove Center and the Coconut Marketplace. The shopping village is easily identified by its turn-of-the-century, plantation architectural design, three-story clock tower, and two "Whaling Wall" murals by environmental artist Wyland.
The vacant land directly across Kuhio Highway from Kauai Village is resort zoned and is planned for resort development.
|
BACK TO THE MENU »
|
|
|
