Posted at 2:19 p.m., Tuesday, September 4, 2007
Shidler Group sells retail/industrial complex on Big Island
Advertiser StaffLocal real estate investment firm The Shidler Group has sold its only Neighbor Island property, a business complex on the Big Island.
Shidler, through affiliate Gold Coast Kona LLC, sold the Gold Coast Business Center in Kailua, Kona, to an affiliate of San Francisco-based Fowler Property Acquisitions for $8.5 million.
The center is an eight-building complex with 104,988 square feet of space that's 93 percent occupied by more than 70 retail and light industrial tenants. The land under the complex is leased from the Queen Lili'uokalani Trust.
Shidler had owned the complex since 1989. San Diego-based Grubb & Ellis/BRE Commercial LLC was the broker for the sale.