Mainland Investor Buys Kihei Shopping Center

October 18, 2013

For those of you who are on the fence about the financial investment of a South Maui real estate purchase, it might be instructive to take a peek at what professional investors are doing. You probably know where this is going!

An investor from the mainland recently purchased the Longs Drugs-anchored Kihei Shopping Center from Kimco Realty Corp., an affiliate of a New York-based real estate investment trust. This $7.2 million purchase was reported by Joseph Leonardo of the Honolulu real estate firm Joseph C. Leonardo & Co., who represented the buyer, which preferred not to be named.

Honolulu-based Commercial Consultants Inc. represented Kimco Realty. This seller happens to own and operate the biggest portfolio of neighborhood and community shopping centers in North America. They wouldn’t have grown so successful without knowing when they shouldn’t pass up on a good sale. Interestingly, that property was the company’s only Hawaii asset, which makes it special.

If you are in the market for a good South Maui home or condo purchase, we suggest you try our real estate search page. You can be incredibly specific about what criteria you are looking for in a property. If you’d rather search with the help of an expert, you’ll find our contact information at the bottom of the page. We’d love to assist you, whether you are looking for a permanent residence or a second Maui home. Mahalo for reading this week! – By Mark Harbison

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