West Oahu Grocery-Anchored Shopping Center Sold in Off-Market Transaction

CBRE's Nicholas Paulic and AJ Cordero represented the private buyer in the acquisition of Pacific Shopping Mall, a rare, fee simple, grocery-anchored shopping center at 87-2070 Farrington Hwy in West Oahu. The transaction was completed off-market for an undisclosed amount.

“This transaction reflects the ongoing market demand for fee simple grocery-anchored shopping centers in Hawaii,” said Cordero. “Multi-tenant retail centers with strong fundamentals in strategic locations continue to attract investor interest.”

The 79,000-square-foot-neighboorhood shopping center was 90% occupied at the time of sale. The property is anchored by Foodland's Sack N Save in Nanakuli, which includes a strong mix of national and local tenants such as McDonald’s, O’Reilly Auto Parts, Hele Fuel, Subway and several local retailers. Pacific Shopping Mall, located on six acres, has served the area for over three decades and is minutes from the Ko Olina master-planned development and Disney's Aulani Resort.

"The sale of the Pacific Shopping Mall demonstrates investor confidence in Hawaii’s retail real estate market, particularly for well-located shopping centers with stable daily needs tenants in high barrier-to-entry markets," added Paulic.