BUSINESS BRIEFS
Waikiki Galleria Building sold

Advertiser Staff

Local developer Bill Mills and partners have purchased The Waikiki Galleria Building for about $125 million, two years after two other investors and Mills paid $95 million for the 16-story retail and office building at the intersection of Kalakaua and Royal Hawaiian Avenues.

Sellers The Shidler Group, a San Diego-based firm with several Hawai'i real-estate investments, and New York-based Angelo, Gordon & Co. completed the deal last week, according to one company involved in the transaction.

The property, formerly known as the Nicos building, includes 10 floors of office space and part of the DFS Galleria retail center on the ground floor.

Billabong to buy Honolua Surf

Billabong International Ltd., Australia's biggest publicly traded surfwear maker, said it agreed to buy the Honolua Surf Co. apparel brand and its 19 retail stores for as much as $15 million.

Queensland-based Billabong said in a statement it "expects the acquisition to be earnings-per-share positive from day one."

Honolua Surf owns 17 stores in Hawai'i and two in Las Vegas.