Location
Honolulu, HI
Type
Industrial/Warehouse
Service
Acquisition
Size
48,122 SF
Highlights
- Highly desired Sand Island/Kalihi Industrial Submarket
Acquired at 41.6% of replacement cost - Rental rates projected to increase by 15%-20% in 2015
179 Sand Island
We purchased a 100% occupied, 48,122 SF leasehold industrial property located at 179 Sand Island Access Road in October 2014. At Year end in 2014, the Sand Island/Kalihi vacancy rate was just 1.47%.
This property lies within the highly desired Sand Island/Kalihi Industrial Submarket, the largest and most vibrant industrial submarket of Oahu.
The three tenants occupying the property are diversified in their specialties and secured leases through 2017 and 2018.