Posted at 2:47 p.m., Thursday, June 30, 2005
Business Briefs: Kukui Grove Shopping Center sold
Advertiser staff
Kukui Grove Shopping Center soldThe Kukui Grove Shopping Center in Kauai, which was developed and owned for 23 years by Grove Farm Land Corp. has been sold. Warren H. Haruki, Grove Farm's president and CEO, said the new owner is Kukui Grove Center Investment Group, Inc. The sales price was not disclosed.
The shopping center is the largest on Kauai and its stores include Macy's, Sears, Longs, Star Market and more than 50 specialty stores.
Hawaii banks raise rates
Bank of Hawaii and First Hawaiian Bank raised their prime, or base, lending rates to 6.25 percent, from 6.0 percent today. The move came after Federal Reserve policy makers raised the benchmark U.S. interest rate a quarter point to 3.25 percent. The Fed restated a plan to carry out further increases at a "measured" pace.
