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The Shops at Wailea Sold to Chicago Firm

The second of two recent South Maui shopping mall purchases.
August 28, 2015

The Shops at Wailea Sold to Chicago Firm

South Maui Real EstateThe march of interesting South Maui real estate purchases goes on this year, with The Shops at Wailea recently selling to Chicago-based investment management firm Heitman Capital Management LLC for no less than $342 million. The price tag is no surprise, given that the shopping center comprises of 161,626 square feet, filled by numerous upscale brands, and is located within the luxurious Wailea Resort.

The shopping center includes over 70 shops and restaurants. Among them are Tiffany & Co., Louis Vuitton, Tori Richard, Tommy Bahama, Banana Republic, Martin & MacArthur, ABC Stores, Honolulu Coffee Co., Ruth's Chris Steak House, Longhi's, and Hawaii's first Tommy Bahama Restaurant & Bar.

The total assessed value of the shopping center, which is located on 16 acres, is just under $120 million based on tax records. The land value was assessed at just under $100 million. This is unsurprising, given its hotel and resort zoning.

This is one of two Wailea shopping center purchases that we've seen recently. If you follow our blog, you might remember the recent entry on Shops on the Green in Wailea, a 45,000-square-foot shopping center that was purchased by California developer Burnham USA. They plan to rename it the Wailea Village Shopping Center.

With so much commercial investment activity in South Maui real estate, it's fitting that the residential market is seeing a great deal of activity. This is not unusual, as Kihei tends to see the most condominium sales by far when compared to the other regions of the island with the same type of real estate.

The bottom line is that if commercial investors are displaying this kind of confidence, it should reassure those in the market for a Maui home or condo. If you are among them, we would be happy to assist you every step of the way. You'll find our contact information at the end of the page if you need any assistance. Mahalo!

Blogs for August 2015

The Shops at Wailea Sold to Chicago Firm

Posted on August 28, 2015
The Shops at Wailea Sold to Chicago Firm

The march of interesting South Maui real estate purchases goes on this year, with The Shops at Wailea recently selling to Chicago-based investment management firm Heitman Capital Management LLC for no less than $342 million. The price tag is no surprise, given that… Continue Reading

New Solar Farm Planned for South Maui

Posted on August 21, 2015
New Solar Farm Planned for South Maui

An interesting new development is in the works for South Maui, only it isn't residential, it's a solar farm. South Maui Renewable Resources is actually based out of West Maui, but plans to develop on a property near the Maui Research and Technology Park… Continue Reading

Maui Real Estate Sales Spike in July

Posted on August 14, 2015
Maui Real Estate Sales Spike in July

Home sales were up in Maui County in the month of July, by a significant margin, while condo sales also rose, according to the latest report from the Realtors Association of Maui. If you're considering an investment in Maui real estate, these numbers should… Continue Reading

The Visitor Industry and Earning a Living in Hawaii

Posted on August 07, 2015
The Visitor Industry and Earning a Living in Hawaii

Economic opportunity is a common concern among those considering a real estate purchase on Maui. If you move to a new place, especially one overseas, you want to know you can earn a living there. Hawaii is a challenge that way, it's… Continue Reading

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Mark and Lisa

Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

(808) 283-3785

Coldwell Banker Island Properties
Shops at Wailea, Suite B-35
3750 Wailea Alanui * Kihei, HI 96753
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