Damon Estate to decide on rest of land holdings

By Andrew Gomes
Advertiser Staff Writer

The Damon Estate continues to sell remaining pieces of its once vast real estate portfolio, but the local trust said it hasn't decided what to do with three primarily noncommercial holdings in Hawai'i.

The estate, which late last year sold 224 acres of commercial land on O'ahu for $480 million, is trying to sell its last Mainland asset, a 15-acre industrial complex in San Leandro, Calif., after the sale of two walnut farms in California.

The farms, one covering about 1,000 acres in Chico and the other covering about 1,500 acres in Wheatland, were sold to a Sacramento developer for about $30 million during the past two months, according to an estate representative.

If the industrial property is sold, the Damon Estate would be left with about 3,700 acres in Moanalua Valley, including Moanalua Gardens, on O'ahu. A 1,500-acre piece of Big Island ranch land also remains.

An estate representative said that there has been no decision to sell the remaining Hawai'i property, and that trustees have not decided what to do with the land.

Trustees of the estate have been working to end the trust as required upon the death of Samuel Mills Damon's last living grandchild, Joan Haig, who is in her 80s.

Reach Andrew Gomes at agomes@honoluluadvertiser.com or 525-8065.