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The Honolulu Advertiser

Posted at 1:08 p.m., Friday, December 5, 2003

$480M Damon land sale finalized

Advertiser Staff

HRPT Properties Trust announced that it has finalized its purchase of Damon Estate commercial and industrial lands for $480 million.

HRPT, based in Newton, Mass., previously confirmed the deal last month.

The 224 acres of land is primarily located between the Honolulu International Airport and Honolulu Harbor. HRPT said plans call for working with existing tenants to extend lease terms in exchange for rental adjustments.