Posted on: Tuesday, November 2, 2004
Retail, office complex planned for Kapolei
By Andrew Gomes
Advertiser Staff Writer
Local development firm The MacNaughton Group plans to build on Kapolei's retail and office mix with a two-story neighborhood commercial center.
The Honolulu-based developer has agreed to purchase a 1.7-acre parcel from Kapolei master developer Campbell Estate for an undisclosed price, and expects to build and open the roughly $4 million project next year.
The 22,000-square-foot complex, called Kapolei Parkway Shops, is designed to have eight retail tenants on the ground floor, including a Starbucks with a drive-through and Jamba Juice. Six other undisclosed tenants, including a wireless phone provider, are finalizing leases, the MacNaughton Group said.
Offices on the second level will be targeted to doctors, real estate brokerage firms and other service-related users.
Parkway Shops builds on what has been a steady influx of new businesses in the "second city," which observers say has developed a shortage of office space and continued demand for more shops and restaurants.
Outback Steakhouse opened a restaurant next to the Parkway Shops site yesterday. Ace Hardware, on the opposite side, is another recent arrival. Under construction are a Central Pacific Bank and Buono Pasto Assagio restaurant.
"There is strong demand for retail to serve the growing population of the region, and the office component of this project will bring needed jobs to the area," said Brad Myers, senior vice president of Campbell affiliate Kapolei Property Development.
Eric Tema, director of real estate development for the MacNaughton Group, said the firm regards Kapolei as a maturing retail and office destination, and saw an opportunity to add to the community.
The MacNaughton Group, headed by Duncan MacNaughton, developed Waikele Center, Stadium Marketplace, Maui Marketplace and Kaua'i's Kukui Marketplace. The firm is the principal investor in the licensee of Starbucks and Jamba Juice in Hawai'i.
Reach Andrew Gomes at 525-8065 or agomes@honoluluadvertiser.com.
