A&B buys Kunia lot to build center

By Andrew Gomes
Advertiser Staff Writer

A&B Properties Inc. has bought a vacant parcel in Kunia below Wal-Mart to build an estimated $9 million neighborhood commercial center starting as early as the fourth quarter of next year.

The company, a subsidiary of Honolulu-based Alexander & Baldwin Inc., purchased the 4.55-acre property from an affiliate of Kapi'olani Health for about $2.7 million.

A&B Properties representatives said plans are to develop a 65,000-square-foot center for small retailers, restaurants and service providers.

"The residential growth in the Kunia area has been very strong, but the retail development hasn't kept pace," said Michael Wright, A&B Properties vice president.

The area, home to Village Park residents and the growing community of Royal Kunia, currently includes a handful of mostly fast-food restaurants, Wal-Mart and Times Super Market.

Kapi'olani Health bought the parcel in 1997 for $5.3 million with the intent to build a medical office.

Jon-Eric Greene with local real estate firm Colliers Monroe Friedlander, which represented the seller, said developers in the past considered the site on the small side for a retail center. But with the sales price coming down and surrounding community getting bigger, Greene said the property became more attractive for such a use.