Pacific Office Properties Trust hopes to raise up to $400 million to help it purchase distressed office buildings and expand its real estate portfolio.

The company, a real estate investment trust headed by Honolulu real estate executive Jay Shidler, yesterday announced plans to raise up to $400 million selling senior common stock that isn't traded on a stock exchange like its common shares.

The firm, based in San Diego and Honolulu, was formed in March 2008 and owns about 40 office buildings, many of which were previously owned by The Shidler Group.

STATE GETS $1.9M TO LIST BROADBAND DATA

The state Department of Commerce and Consumer Affairs received $1.9 million in the latest round of federal funding, to develop an online database that can be used by consumers to identify the availability, speed and location of broadband services throughout the state.

Hawai'i is one of 10 states to receive funding from the U.S. Department of Commerce's National Telecommunications and Information Administration.

So far, the NTIA has awarded grants totaling $97 million under the program. The agency said it expects to finish announcing awards late this year.

FAMOUS FOOTWEAR TO JOIN WARD CENTRE

Famous Footwear plans to open a store at Ward Centre on Feb. 6 in the former location of a Nordstrom shoe store.

It will be the company's fourth store in Hawai'i, and will restore a presence in Honolulu for the national chain of 1,100 stores.

Previously, Famous Footwear had a store at Dole Cannery in Iwilei. Existing stores are on Maui, the Big Island and Kaua'i. The retailer's parent, Brown Shoe Co., also operates Factory Brand Shoes at Waikele Premium Outlets.

The new store will be 16,000 square feet, more than twice as big as the average Famous Footwear store, and employ 15 to 20 people.