Posted on: Wednesday, April 20, 2005

BUSINESS BRIEFS
Group buys Mariner's Alley

Advertiser Staff

A group of investors led by Honolulu-based Avalon Group bought the roughly 12,000-square-foot Mariner's Alley retail complex in Lahaina, Maui, for $16.4 million.

The purchase included a vacant 9,799-square-foot parking lot at 175 Lahainaluna Road that the new owner is evaluating for redevelopment.

Mariner's Alley at 844 Front St. houses businesses including a Christian Lassen art gallery and Moose McGillycuddy's, and was bought as a long-term investment by individual investors who pool their capital as a so-called tenants-in-common buyer.

Students submit business plans

Seven student teams will compete for $80,000 in cash prizes in the finals of the 2005 UH Business Plan contest.

The seven emerged from a field of 90 entries in the competition held by the Pacific Asian Center for Entrepreneurship & E-Business. The finalists will present their plans beginning at 4:30 p.m. Tuesday at the UH School of Architecture auditorium.

There will be a $25,000 first prize, a $15,000 second prize, a $20,000 prize for best social enterprise, and a $20,000 technology prize.

$3.7M earnings at Territorial

Territorial Savings Bank reported net income of $3.7 million in the first quarter of fiscal 2005 compared with $4.1 million a year earlier. Earnings fell because 2004 included securities gains that were absent in the 2005 quarter. Excluding the gains, net operating income was $5.8 million compared with $5.4 million. Hawai'i's fifth largest financial institution recorded total assets of $1.24 billion in the quarter, up from $1.1 billion a year ago.

Seminar offers rental advice

Can't find a rental? Don't know your tenant rights?

The Department of Housing & Urban Development is hosting a free seminar to discuss the rights and responsibilities of renters at 7 p.m. April 27 at Kapi'olani Community College's cafeteria.

Registration is required. For reservation or information, call 522-8185, ext. 221.