CBRE Announces $3.25 Million Sale of 845 Queen Street in Honolulu, Hawaii

CBRE has arranged the sale of 845 Queen Street, a mixed use commercial building on the island of Oahu, to a Hawaii-based owner-user for $3.25 million.

James Shipman with CBRE Advisory and Transaction Services represented the Seller, Isla Pacifica LLC, in the transaction.

Located at 845 Queen Street, the property consists of approximately 5,000 square feet of land with 4,156-square-foot of improvements. The property is conveniently located between Downtown Honolulu and the Ala Moana Shopping Center and within walking distance of two planned Honolulu rail stations.

“Properties in Honolulu’s urban core remain in high demand despite the increased cost to finance property purchases,” said CBRE’s Shipman, who led the marketing team. “This transaction is an example of the demand for well located properties near major transit options, employment areas, and goods/services.”

The transaction received multiple offers, garnered interest from several owner-users, and closed at the asking price.

“This transaction demonstrates CBRE’s proven ability to execute mixed use transactions by leveraging our proven marketing process combined with our depth of knowledge within the Hawaii market,” added Shipman.